Page 85 - Q2 Results

Arvind profit falls 36% in Sept qtr as textiles drag despite low costs

Textile companies have hit a rough patch due to low cotton arrivals, higher import duty and energy costs, and an inventory pile-up, analysts said

Mindspace REIT's Q2 net operating income jumps 18% to Rs 491 crore

Mindspace Business Parks REIT has posted an 18 per cent increase in its net operating income (NOI) to Rs 491 crore for the second quarter of this fiscal. Its NOI stood at Rs 417 crore in the year-ago period. The revenue from operation rose 21 per cent to Rs 600 crore in the July-September period from Rs 497 crore in the corresponding period of the previous year, according to a regulatory filing on Monday. Mindspace REIT has declared a distribution of Rs 284 crore or Rs 4.79 per unit for the second quarter of this fiscal. Of this, around 90 per cent is in the form of dividends, tax-exempt in the hands of unitholders. Ramesh Nair, Chief Executive Officer of K Raheja Corp Investment Managers, the manager of Mindspace REIT, said, "We have had a good quarter in terms of NOI growth". "India's tech prominence and growing office space demand, driven by GCCs, is promising, and the IT industry considering a return to a 5-day office week is encouraging. "While short-term challenges are exp

KPIT Tech hits record high, surges 11% after raising FY24 growth outlook

KPIT increased FY24 CC growth outlook to 37%+ from 27%-30% earlier and EBITDA outlook increased to 20%+ from 19%-20% earlier.

Stocks to Watch: TVS Motor, RIL, Tata Motors, Marico, DLF, Triveni Eng, P&G

Stocks to watch on October 31, 2023: Reliance Jio has made a contrarian call vis-a-vis competitors by deciding not to raise the 5G tariff, which is currently at the same level as 4G

TVS Motor posts marginal rise in Q2 consolidated net profit to Rs 386 crore

During the quarter under review, the company's revenue from operations increased by 16 per cent to Rs 9,932.82 crore as against Rs 8,560.76 crore in the July to September quarter of FY23

P&G Q1 results: Net profit up 36% at Rs 210.69 cr, revenue at Rs 1,138 cr

FMCG products maker Procter & Gamble Hygiene and Health Care Ltd on Monday reported a 36.44 per cent increase in profit after tax at Rs 210.69 crore for the first quarter ended September. The company, which follows the July-June financial year, had reported a profit after tax of Rs 154.41 crore in the corresponding quarter of the previous fiscal. Its net sales were 9.04 per cent higher at Rs 1,135.06 crore during the quarter under review. In the year-ago period, the same was at Rs 1,040.92 crore, according to a regulatory filing. The company's revenue from operations in the July-September period was at Rs 1,138.35 crore, up 8.94 per cent compared to the same period a year ago. This increase was "driven by a superior retail execution and integrated growth strategy," it said in an earning statement. The "PAT (Profit After Tax) for the quarter was Rs 211 crore, up 36 per cent versus year ago led by acceleration of volume growth coupled with product price-mix and productivity," it ...

Marico Q2 results: Net profit rises 17.3% to Rs 353 cr, misses estimates

Marico's net profit rose 17.3% to Rs 353 crore in the July-September quarter, but missed analysts' average estimate of Rs 357 crore, according to LSEG data

Adani Green Q2 results: Net profit jumps over two-fold to Rs 371 cr

Revenue of power producers such as Adani Green gets a boost as the size of their portfolio with long-term deals increases

APL Apollo Tubes Q2 results: Profit up 35% to Rs 203 cr, misses estimates

The steel tube maker's consolidated profit rose 35% to Rs 203 crore in the second quarter, but missed analysts' average estimate of Rs 222 crore, according to LSEG data

Servotech Power Systems net profit grows three-fold to Rs 3.12 crore in Q2

Servotech Power Systems Ltd (SPSL) has posted over three-fold jump in its net profit at Rs 3.12 crore during the quarter ended September 2023, aided by higher revenues. It had clocked a net profit of Rs 78 lakh during the July-September period of preceding 2022-23 fiscal, the company said in a regulatory filing on Monday. The company's revenue also more than doubled to Rs 86.59 crore in the second quarter, from Rs 40.24 crore in the same quarter a year ago. Servotech Power Systems Managing Director Raman Bhatia said: "Our success can be attributed to our steadfast dedication to delivering cutting-edge, technology-driven solutions in the fields of electric vehicles and solar energy." Servotech is a leading manufacturer of solar, electric vehicle (EV) chargers, power-backup and other smart power solutions. The company recently signed an agreement with the Uttar Pradesh government to set up an EV charger manufacturing plant in the state at an investment of Rs 300 crore.

Reliance gains 2% post September quarter results; brokerages remain upbeat

EBITDA increased by 30.2 per cent YoY to Rs 44,867 crore, on account of strong net subscriber addition and sharp increase in data traffic supported 80 bps margin improvements in Jio Platforms (JPL).

Nippon Life India Mutual Fund Q2 results: Profit rises 19% to Rs 235 crore

Nippon Life India Asset Management Ltd (NAM India) on Monday reported a 19 per cent growth in profit at Rs 235 crore in the second quarter ended September 2023. It had posted a profit of Rs 197 crore in the same quarter of previous fiscal, the asset management company said in a regulatory filing. Total income stood at Rs 440 crore in the period under review as compared to Rs 383 crore in the quarter ended September 30, 2022. The board of Nippon Life India Asset Management Ltd has declared an interim dividend of Rs 5.50 per share for FY24, it said. As on September 30, 2023, NAM India's assets under management stood at Rs 4.35 lakh crore.

SIS Ltd Q2 results: Profit rises 11.6% to Rs 75 crore, revenue up 11%

SIS Ltd on Monday posted an 11.6 per cent rise in net profit at Rs 75.3 crore in the second quarter ended September 2023. The net profit of the company in the July-September quarter of the preceding fiscal stood at Rs 67.4 crore. The company's revenue in the quarter increased by 11 per cent to Rs 3,073.6 crore, from Rs 2,767.7 crore a year ago, the firm engaged in security, facility management and cash logistics solutions said in a regulatory filing. Earnings before interest, taxes, depreciation, and amortisation (EBITDA) or operating profit improved by 31.6 per cent to Rs 144.5 crore as of September 30 this fiscal, from Rs 109.8 crore in the same period a year ago. The cash logistics segment continues its strong revenue growth with 22 per cent growth driven by new wins in cash in transit (CIT) business, it said. SIS Group Managing Director Rituraj Kishore Sinha said, "SIS, an essential services leader, continues its growth momentum crossing the Rs 1,00-crore monthly revenue ...

KPIT Technologies Q2 results: Net profit zooms 69% at Rs 141 crore

Auto industry-focused KPIT Technologies on Monday reported a 69.21 per cent jump in its September quarter net profit at Rs 141 crore. The Pune-headquartered company had reported a post tax profit of Rs 83.5 crore in the same quarter a year ago. Its revenues from operations grew to Rs 1,199 crore in the reporting quarter as against Rs 745 crore in the same period a year ago and Rs 1,098 crore in the preceding April-June quarter. The company said it is now aiming to close FY24 with a growth of 37 per cent in revenues on a constant currency basis, as against the earlier target of 27-30 per cent. It was able to maintain the operating profit margin at 20 per cent in the quarter, which led the company to improve its guidance of keeping the number at over 20 per cent in FY24, from 19-20 per cent projected earlier. The company reported new deal wins of USD 156 million during the quarter, including a multi-year engagement on autonomous driving with a European car manufacturer and some work

Petronet LNG profit up 9%, to invest Rs 20,685 cr in petrochem plant

The terminal's utilisation level, which was 80 per cent in FY23, has remained consistently above 90 per cent in FY24 so far

Jupiter Wagons Ltd Q2 results: Net profit triples to Rs 81 crore

Jupiter Wagons Ltd (JWL) on Monday said its consolidated net profit more than tripled to Rs 81.58 crore in the second quarter ended September 30. It had reported a net profit of Rs 24.80 crore for the July-September period a year ago, the company said in a statement. JWL's revenue from operation increased to Rs 879.30 crore in the quarter under review from Rs 416.72 crore during the year-ago period. According to the statement, the company's EBITDA (Earnings before interest, taxes, depreciation, and amortisation) margin improved to 13.8 per cent in Q2 FY24 from 12 per cent in Q2 FY23. "We have made meaningful progress this quarter on implementing our growth plans which will enable us to further scale up operations. We are adding capacity to the foundry at the Kolkata Unit while setting up a new foundry at our Jabalpur Unit," JWL Managing Director Vivek Lohia said. JWL offers comprehensive mobility solutions, including freight wagons, locomotives, passenger coaches (LHB), braking ..

Castrol India Q3 results: Net profit rises 4% at Rs 194 cr on steady demand

Rainfall in September made up for a deficit in the first half of the quarter, according to analysts, leading to a recovery in rural demand, particularly in sectors such as two-wheelers

Supreme Industries Q2 results: PAT jumps three-fold to Rs 243 crore

Supreme Industries Ltd has posted around three-fold jump in its profit after tax at Rs 243.19 crore in the quarter ended September 2023, pushed by higher income. It had clocked a profit after tax (PAT) of Rs 82.02 crore in the July-September period of the preceding 2022-23 fiscal, the company said in a regulatory filing. The company's total income rose to Rs 2,321.38 crore from Rs 2,092.12 in the year ago quarter. Its expenses were at Rs 2,025.93 crore as against Rs 2,005.52 crore in the same period in the last financial year. The board of directors has declared an interim dividend of Rs 8 per share of face value of Rs 2 each for the financial year 2023-24. Supreme Industries Managing Director M P Taparia said: "Polymer prices remained range-bound during the quarter but witnessed a sharp downward trend during 1st fortnight of October, affecting business sentiments. Now the prices have started stabilising and business activities have started picking up." The company has acquired t

DLF Q2 results: Net profit up 31% to Rs 623 cr on higher revenue

Realty major DLF on Monday reported a 31 per cent rise in consolidated net profit to Rs 622.78 crore for the second quarter of this fiscal year on higher revenue. Its net profit stood at Rs 477.04 crore in the year-ago period. Total income increased to Rs 1,476.42 crore from Rs 1,360.30 crore in the corresponding period of the previous year, according to a regulatory filing. During the April-September period of this fiscal, DLF's net profit rose to Rs 1,149.78 crore from Rs 946.61 crore in the year-ago period. Total income grew to Rs 2,998.13 crore in the first six months of this fiscal from Rs 2,876.78 crore earlier.

UPL Ltd Q2 net loss at Rs 189 cr, destocking drives revenue decline

Agro-chemical firm UPL Ltd on Monday posted a consolidated net loss of Rs 189 crore for the second quarter of 2023-24 as global channel destocking' drove revenue decline. The company had clocked a net profit of Rs 814 crore in the same quarter previous fiscal, according to a regulatory filing. Total income in the quarter under review was Rs 10,170 crore. In the year-ago period, it was Rs 12,507 crore. From India operation, the company's revenue was Rs 1,387 crore during the quarter. In the year-ago period, it was Rs 1,809 crore, the filing said. The global agrochemical industry continues to go through a difficult phase with prices coming off significantly vis--vis the high base of the previous year amid the elevated channel inventory levels and intense price competition," UPL Corporation Ltd CEO Mike Frank said. Against this backdrop, the distributors prioritized destocking, and focused on purchases at lower prices to bring down their average inventory cost. In particular, destoc