Page 87 - Q2 Results

Sluggish volumes likely to cap upsides in Colgate-Palmolive stock

While the stock is up 44 per cent from its lows in January this year, further gains will depend on its ability to sustain higher growth rates

RIL Q2 results: Net profit rises 27.4% to Rs 17,394 crore on energy boost

Reliance misses profit view as crude drop hurts mainstay business

Sadhana Nitro Chem Q2 profit at Rs 2.57 cr, revenue up 15% to Rs 42 cr

Chemical firm Sadhana Nitro Chem Ltd has posted a consolidated net profit of Rs 2.57 crore for the second quarter of this fiscal. It had posted a net loss of Rs 0.37 crore in the year-ago period. Total income rose 15 per cent to Rs 42.01 crore in July-September period of this fiscal, from Rs 36.53 crore in the corresponding period of the previous year, the company said in a statement. "This growth can be primarily attributed to the steady increase in global demand for our products," the company said. Sadhana Nitro Chem Ltd manufactures intermediate specialty chemicals. It has a manufacturing facility in Roha, Maharashtra spread over 22 acres.

Drug firm Novartis reports 29% increase in net profit at Rs 23.68 cr

Drug firm Novartis India on Friday reported 29.04 per cent increase in net profit at Rs 23.68 crore for the second quarter ended September 30, 2023. The company had logged a net profit of Rs 18.35 crore in the year-ago period, according to a regulatory filing by Novartis India. However, revenue from operations was down 22.41 per cent at Rs 78.76 crore as against Rs 101.52 crore, it added. Total expense was at Rs 63.21 crore, down 27.4 per cent. Shares of Novartis India on Friday settled at Rs 684.50 apiece on BSE, up 6.06 per cent from the previous close.

Realty firm Mahindra Lifespace posts Rs 19 cr loss in Sept quarter

Realty firm Mahindra Lifespace Developers Ltd on Friday reported a consolidated net loss of Rs 18.93 crore for the second quarter ended September on lower income. Its net loss stood at Rs 7.51 crore in the year-ago period. Total income declined to Rs 25.7 crore during the JulySeptember period of the 202324 financial year from Rs 73.82 crore in the corresponding period of the previous year, according to a regulatory filing. Mahindra Lifespace is the real estate and infrastructure development arm of the business conglomerate Mahindra Group. On the operational front, the company said it achieved pre-sales of Rs 455 crore in residential business. It launched 0.47 million square feet of saleable area at Tathawade Phase 3 in Pune. The company collected Rs 311 crore in residential business. Mahindra Lifespace achieved land leasing of 9.9 acres in the industrial business for Rs 32.2 crore. The company's development footprint spans 34.46 million square feet of completed, ongoing, and ...

Bajaj Finserv Q2 results: Consolidated net profit rises 24% to Rs 1,929 cr

Its consolidated total income rose by 25 per cent Y-o-Y to Rs 26,023 crore in the reporting quarter from Rs 20,803 crore in Q2FY23

SBI Life Insurance Q2 net profit stays flat amid rise in expenses

The net premium income of the insurer jumped by 21.68 per cent to Rs 20,049.66 crore from Rs 16,477.26 crore, as compared to the corresponding period last year

City Union Bank net profit flat at Rs 281 crore in September quarter

City Union Bank on Friday posted almost flat net profit of Rs 281 crore for the quarter ended September 2023. The Tamil Nadu-based lender had posted a net profit of Rs 276 crore for the same quarter a year ago. Total income during July-September period increased to Rs 1,486 crore as against Rs 1,355 crore in the same quarter a year ago, City Union Bank said in a regulatory filing. Interest income grew to Rs 1,304 crore from Rs 1,181 crore in the corresponding quarter a year ago. Asset quality of the lender deteriorated as gross non-performing assets (NPAs) rose to 4.66 per cent of gross advances as of September 2023 from 4.36 per cent by the end of September 2022. However, net NPAs (bad loans) declined marginally to 2.34 per cent as against 2.69 per cent. Provisions for bad loans and contingencies fell to Rs 56 crore during the quarter as against Rs 105 crore reserved for the year-ago period.

IRB Infrastructure Developers net profit rises to Rs 95.74 crore in Q2

IRB Infrastructure Developers on Friday reported a 12.24 per cent rise in consolidated net profit to Rs 95.74 crore for the September quarter. The company had clocked a consolidated net profit of Rs 85.30 crore in the year-ago period, it said in a statement. Total income during the second quarter of the current fiscal rose to Rs 1,874 crore as against Rs 1,438 crore in the year-ago period. The company said its toll revenue across IRB and Pvt InvIT entities together was up by 20 per cent year-on-year for the first half of the current fiscal at Rs 2,386 crore from Rs 1,984 crore in the previous fiscal. "Overall, the performance looks very promising, backed by consistent growth seen in toll collections on a year-on-year basis across assets, coupled with commencement of tolling on Hyderabad Outer Ring Road and achieving financial closure of the build-operate-transfer project bagged earlier in Gujarat," Chairman and Managing Director of the company Virendra D Mhaiskar said. IRB Infra

Ujjivan Small Finance Bank Q2 results: Net profit rises 11% to Rs 328 cr

Ujjivan Small Finance Bank on Friday reported 11 per cent rise in net profit at Rs 328 crore for the second quarter ended September 30 on the back of fall in bad loans. The Bengaluru-based bank had posted a net profit of Rs 294 crore for the year-ago period. Total income in the September quarter increased to Rs 1,580 crore from Rs 1,140 crore a year ago, Ujjivan Small Finance Bank said in a regulatory filing. Interest income grew to Rs 1,391 crore from Rs 993 crore in the corresponding quarter a year ago. The bank's asset quality improved with gross non-performing assets (NPAs) declining to 2.35 per cent of gross advances as of September 30, 2023, against 5.06 per cent at the end of September 2022. However, net NPAs increased marginally to 0.09 per cent from 0.04 per cent. Capital Adequacy Ratio of the bank declined to 25.19 per cent from 26.70 per cent at the end of the same quarter last fiscal.

Dr Reddy's Laboratories Q2 results: Net profit rises 33% to Rs 1,480 crore

The company said that the Ebitda was enabled by geographic diversification and productivity improvement in operations

Reliance Jio Infocomm Q2 results: Net profit rises 12% to Rs 5,058 crore

Reliance Jio Infocomm posts smallest profit rise in seven quarters

IndiaMart Q2 result: Consolidated net profit at Rs 69.4 cr, revenue up 23%

The revenue from operations for Q2FY24 came in at Rs 296.96 crore, compared to Rs 240.66 crore year-on-year (y-o-y), registering a rise of 23.39 per cent

Bajaj Finserv Q2 consolidated net profit rises 24% to Rs 1,929 cr

Bajaj Finserv Ltd on Friday reported consolidated net profit of Rs 1,929 crore for the quarter ended September 30, up 24 per cent year-on-year. The company's profit after tax was at Rs 1,557 crore in the second quarter of the last financial year. Consolidated total income of Bajaj Finserv stood at Rs 26,023 crore in the second quarter of the fiscal, up 25 per cent from Rs 20,803 crore in the year-ago quarter, the company said in filing to stock exchanges. It further said Bajaj Finance Limited (BFL) recorded a quarterly increase in the customer franchise of 3.58 million and number of new loans booked at 8.53 million in the second quarter of fiscal 2023-24. "Its quarterly consolidated profit after tax increased by 28 per cent, while its wholly-owned subsidiary, BHFL, recorded growth of 47 per cent in profit after tax," the release said. Further, BFL's deposit book crossed a milestone of Rs 50,000 crore in the quarter. Bajaj Finance, consolidated profit after tax was at Rs 3,551 cro

Tamilnad Mercantile Bank Q2 net profit increases 5% to Rs 274 crore

The bank's total income during the period was up by 16 per cent, from Rs 1,141 crore in September 2022-23 to Rs 1,365 crore in the second quarter of FY24

Indian Hotels Company Q2 results: Consolidated PAT rises 37% to Rs 167 cr

Indian Hotels Company Ltd on Friday said its consolidated profit after tax (PAT) rose 37 per cent to Rs 167 crore in the second quarter ended September 30, 2023. In the year-ago period, the PAT was Rs 121.56 crore. Total income from operations rose to Rs 1,480.87 crore in July-September period from Rs 1,257.57 crore in the corresponding quarter of 2022-23, it said in a BSE filing. Total expense too was higher at Rs 1,248.68 crore as compared to Rs 1,101.20 crore. "We opened 8 hotels and signed 17 more in the first half of the fiscal thereby maintaining an industry-leading pipeline of 82 hotels. India's economic momentum coupled with higher consumer spends augurs well for the industry. Business on the books remains strong and the company is well positioned for the traditionally stronger second half of the financial year," Puneet Chhatwal, MD & CEO, IHCL, said. The company also informed about the acquisition of 2,59,000 equity shares of its subsidiary Piem Hotels held by New Vernon

SRF Q2 results: Net profit declines 37% to Rs 301 crore on lower income

Chemical firm SRF Ltd on Friday reported a 37 per cent decline in its consolidated net profit to Rs 300.78 crore for the September quarter on lower income and announced a total capex of Rs 510 crore for setting up of facilities to produce agrochemical intermediate and packaging film. Its net profit stood at Rs 480.99 crore in the year-ago period. Total income fell to Rs 3,206.48 crore during the July-September period of the 2023-24 financial year from Rs 3,760.52 crore in the corresponding period of the previous year, according to a regulatory filing. SRF Chairman and Managing Director Ashish Bharat Ram said, "During the (second) quarter, we felt the brunt of the destocking and inventory rationalisation phenomenon in our chemicals business. Having said that, we are now beginning to see some positive traction that should bode well for a better second half of FY24. The overcapacity in our packaging films business will continue for some more time." The board has approved projects for

SBI Life Insurance Q2 PAT flat at Rs 380 crore as higher expenses weigh

Net premium income rose 21.7% to Rs 20,050 crore from Rs 16,477 crore, while expenses surged 22.1%, mainly due to higher commissions and rewards during the quarter

Waaree Renewable Technologies Q2 net profit rises 124.18% to Rs 18.29 cr

Waaree Renewable Technologies posted over 124.18 per cent rise in consolidated net profit to Rs 18.29 crore in the September quarter on the back of higher revenues. The consolidated net profit of the company stood at Rs 8.16 crore in the year-ago period, the company said in a statement on Thursday. Revenue from operations increased to Rs 150.06 crore in the second quarter of the ongoing fiscal from Rs 120.56 crore in the same period a year ago. The unexecuted order book stands at 897 MW as of September 30, it said. "Our strong financial footing, characterised by a healthy balance sheet, net cash reserves, and a disciplined working capital cycle, empowers us to execute profitable projects with higher returns," Waaree Renewable Technologies CFO Dilip Panjwani said in the statement.

Tyremaker Goodyear India posts 40% jump in Q2 profit on subdued input costs

Poor monsoons have made commercial vehicles such as tractors less affordable for India's rural population, hurting automakers and auto-ancillary companies