Page 112 - Q3 Results

LIC's net income jumps manifold to Rs 8,334.2 crore in December quarter

Public sector insurer LIC on Thursday reported manifold jump in net income at Rs 8,334.2 crore during the three months ended December 2022 as against Rs 235 crore a year ago. The Life Insurance Corporation (LIC) earned Rs 1,11,787.6 crore in net premium income during the reporting quarter as against Rs 97,620.34 crore in the year-ago period, it said in a regulatory filing. The numbers are strictly not comparable as the insurer was not a publicly traded company earlier. LIC's income from investments rose to Rs 84,889 crore from Rs 76,574.24 crore a year ago, the filing said. Its investments into the crisis-ridden Adani Group has been under tremendous criticism even though the value of the investment of close to Rs 36,000 crore are still in the green despite those shares losing almost 60 per cent of their value since January 25.

Suzlon Energy Q3 PAT more than doubles to Rs 78 cr on reduced expenses

Suzlon Energy Limited on Thursday said its consolidated net profit more than doubled to Rs 78.28 crore during the December 2022 quarter, mainly due to reduced expenses. The company had clocked a net profit of Rs 36.77 crore during the October-December quarter of preceding fiscal, Suzlon Energy said in a regulatory filing. Its total income however fell to Rs 1,464 crore from Rs 1,615 crore a year ago. The expenses stood at Rs 1,386 crore in the quarter under review as against Rs 1,573 crore in the year ago quarter. In a separate statement, Girish Tanti, Vice Chairman, Suzlon Group, said: "The beginning of 2023 has been highly encouraging for the wind energy sector with a slew of crucial policy announcements. Indian wind energy is equipped and on track to contribute substantially towards India's energy transition roadmap." Ashwani Kumar, Chief Executive Officer, Suzlon Group, said: "Q3 has been a stable quarter for us. Our service business continues to do well, and our focus remains

IOB Q3 net profit up 23%, helped by interest income and credit growth

Slippages at Rs 1,556 crore, out of which Rs 200 crore was in education sector

HPCL net profit plunges 80% to Rs 172 crore in Q3 as oil prices fall

After two consecutive quarters of losses, Hindustan Petroleum Corporation Ltd (HPCL) on Thursday reported a net profit of Rs 172.43 crore in October-December 2022 as a fall in oil prices helped it recoup some of the losses on sale of petrol and diesel. Standalone net profit of Rs 172.43 crore in the third quarter of the current fiscal compared with Rs 868.86 crore profit in the same period a year back, according to a stock exchange filing by the company. HPCL and other state-owned fuel retailers did not revise petrol and diesel prices when international oil prices touched multi-year high last year. That led to them booking losses in two back-to-back quarters. However, rates softened in the third quarter. This should have warranted a reduction in petrol and diesel prices but the oil companies held on to retail prices to recoup the losses they had booked in the previous six months. Revenue from operations rose to Rs 1.15 lakh crore from Rs 1.03 lakh crore in October-December 2021. T

GIC Re returns to black with Rs 1,201 cr net income in Dec quarter

General Insurance Corporation of India (GIC Re) on Thursday reported a net profit of Rs 1,201 crore for the third quarter ended December 2022. There was a loss of Rs 28.48 crore in the year-ago period. Sequentially, it posted a net profit of Rs 1,859.93 crore in the second quarter ended September 2022. Gross premium during the October-December quarter declined to Rs 10,099.40 crore from Rs 10,240 crore in the same period of the previous fiscal, GIC Re said in a regulatory filing. Its net premium income inched up to Rs 9,561.2 crore from Rs 9,332.56 crore but earned premium declined to Rs 8,648.76 crore from Rs 8,907 crore. The bottom line was saved by a fall in incurred claims during the quarter, which declined by more than a quarter to Rs 8,380.50 crore from Rs 10,857.83 crore, according to the company. Its underwriting loss came down massively to Rs 1,537.24 crore from Rs 2,371.2 crore, boosting the net income, which was also buoyed by a healthy jump in investment income at Rs

Natco Pharma's Q3 consolidated net profit dips 22% yoy at Rs 62 cr

Natco Pharma on Thursday said its consolidated net profit declined by 22 per cent to Rs 62 crore for the third quarter ended December 31, 2022. The Hyderabad-based drug firm had reported a net profit of Rs 80 crore in the October-December quarter of last fiscal. Total income of the company stood at Rs 513 crore in the period under review as compared with Rs 591 crore in the year-ago period that had a one-time licensing revenue. The company's board, which met on Thursday, approved an interim dividend of Rs 1.25 per share for the quarter ended December 31, 2022. Shares of the company ended 0.38 per cent down at Rs 529.10 apiece on the BSE.

Sensex rises 142 pts in fag-end, Nifty near 17,900; broader indices fall

CLOSING BELL: Adani Enterprises, Adani Ports, Hero MotoCorp, Cipla, JSW Steel, Bharti Airtel, Sun Pharma, UPL, Ultratech Cement, HDFC, Bajaj Auto, and Tata Motors fell over half a per cent to 11%

Hindalco PAT drops 63% in December quarter on elevated input costs

Hindalco Industries, the Aditya Birla Group metals flagship, on Thursday posted a 62.9 per cent decline in consolidated profit after tax at Rs 1,362 crore for the quarter ended December 31, 2022 mainly due to elevated input costs, unfavourable macros and inflationary impacts. The company had posted consolidated Profit After Tax (PAT) of Rs 3,675 crore in the year-ago period, Hindalco said in a regulatory filing. "Consolidated PAT in Q3 FY23 was at Rs 1,362 crore compared to Rs 3,675 crore in Q3 FY22, a decline of 63 per cent YoY (Year-on-Year)," the company said in a statement. However, the revenue from operations in the third quarter increased to Rs 53,151 crore, over Rs 50,272 crore a year ago, the filing said. "Though the India aluminium upstream business EBITDA came under pressure from the surge in input costs and lower realisations, this was partially offset by higher volumes. The India aluminium downstream business segment delivered a higher EBITDA YoY, due to higher volumes

MRF December-quarter consolidated net profit rises 17% to Rs 174.83 crore

Tyre maker MRF Ltd on Thursday reported a 17 per cent rise in consolidated net profit from continuing operations at Rs 174.83 crore for the third quarter ended December 31, 2022. The company had posted a consolidated net profit from continuing operations at Rs 149.39 crore in the same quarter last fiscal, MRF Ltd said in a regulatory filing. Consolidated revenue from operations during the period under review stood at Rs 5,644.55 crore, as against Rs 4,920.13 crore in the year-ago period, it added. Total expenses were higher at Rs 5,484.72 crore in the third quarter, as compared to Rs 4,787.33 crore in the corresponding period a year ago. The board of directors has declared a second interim dividend of Rs 3 per equity share (at 30 per cent) for the financial year ending March 31, 2023, MRF Ltd said. The company further said its board has also approved the re-appointment of Arun Mammen as its Managing Director with the designation "Vice Chairman & Managing Director" for a period of

M&M's Q3 revenues may rise up to 42% YoY, fall in RM prices to aid margins

On the bourses, shares of M&M declined 1.4 per cent in Q3FY23, whereas peers like Maruti Suzuki, and Tata Motors slipped up to 4 per cent

Hatchery stocks in focus: SKM Egg, Venky's, Simran Farms rally up to 10%

Shares of SKM Egg Products Export India, Venky's India, Simran Farms and Ovlbel Foods were up in the range of 5 per cent to 10 per cent in Thursday's intra-day trading session

Trent gains 7% on healthy revenue growth in December quarter

Trent said, the Star business with tight footprint stores and focus on fresh foods & own brands offering continue to witness improved customer traction with growing sales densities.

Cummins India surges 10%, hits record high on robust Q3 results

The company reported record quarterly revenue driven by strong domestic and export revenue coupled with prudent cost management resulting in record quarterly profit.

Adani Wilmar Q3 net rises 16% to Rs 246.16 cr on back of margin expansion

Adani Wilmar, which receives over 80 per cent of its revenue from edible oils, saw a 4 per cent jump in it to take the tally to Rs 12,581.21 cr

NSE Q3 net profit rises 55% to Rs 1,826 cr; revenue up 35% to Rs 3,263 cr

The stellar growth was despite a 20 per cent year-on-year fall in cash market volumes during the 9MFY23

Adani Power Q3 profit falls 96% YoY to Rs 9 cr; revenue rises 45%

Company's amalgamation with six of its operating subsidiaries receives approval from secured creditors

Escorts Kubota posts 6% YoY decline in Dec quarter profit to Rs 180 crore

Farm and construction equipment manufacturer Escorts Kubota Ltd on Wednesday posted a 6.7 per cent decline in consolidated net profit to Rs 180.8 crore in the third quarter ended December 31, 2022. The company had posted a consolidated net profit of Rs 193.71 crore in the same period last fiscal, Escorts Kubota Ltd said in a regulatory filing. Consolidated revenue from operations during the quarter under review stood at Rs 2,291.35 crore as against Rs 1,998.29 crore in the year-ago period, it added. Total expenses were higher at Rs 2,141.47 crore, up from Rs 1,756.7 crore in the corresponding quarter a year ago. During the quarter the company sold 28,025 units, up 10.7 per cent from 25,325 units in the year-ago period. The agri segment revenue rose 12.4 per cent at Rs 1,708 crore as compared to Rs 1,519.3 crore in the same period last fiscal. Construction equipment sales volume were at 1,209 machines, up 5 per cent as against 1,151 machines in the same period a year ago, with the

Adani Enterprises, RBI policy takes Nifty above 17,850, Sensex leaps 378pts

CLOSING BELL: Adani Enterprises surged 23 per cent, while Adani Ports zoomed 9 per cent, leading the winners' list on the Nifty50

Here's why Macquarie has double upgraded Paytm's stock to 'Outperform'

Following the upgrade, shares of Paytm surged 18.5 per cent to an intra-day high Rs 698 per share on the BSE on Wednesday

Shree Cements posts 44% fall in Dec-quarter profit on high fuel costs

The Kolkata-based company posted a standalone profit of 2.77 billion Indian rupees ($33.5 million) for the quarter ended Dec. 31, compared with 4.92 billion rupees a year earlier