Page 119 - Q3 Results

AWS reports Rs 745 cr revenue opportunity for businesses harnessing data

Organisations in India that harness the power of data can potentially grow their annual business revenue by 13.6 per cent on an average, which is equivalent to up to Rs 745.1 crore in additional annual revenue in case of large organisations, a new report by Amazon Web Services (AWS) said. Amazon's cloud computing unit, AWS, has also announced the launch of AWS Data Lab in India, a move the company said aims to help more organisations accelerate their data maturity journey. "AWS, an Amazon.com company, released findings from a new research report, which shows that organisations in India that harness the power of data can grow their annual business revenue by 13.6 per cent on average," AWS said adding for large organisations, this is equivalent to Rs 7,451 million in additional annual revenue. According to a statement, the Demystifying Data 2022 report surveyed 521 senior business decision-makers in Indian organisations. It was commissioned by AWS and prepared by Deloitte Access ...

Mangalore Refinery and Petrochemicals swings to Q3 loss due to windfall tax

MRPL swung to a third-quarter loss from a year-ago profit on Monday, hurt by the government's windfall tax on some fuel exports and a surge in the cost of materials consumed

TechM net falls 5.3%; enterprise biz crosses $1 bn in quarterly revenue

Revenue for the quarter came in at Rs 13,734.6 crore for Q3 - up 19.9 per cent. On a sequential basis, revenue was up 4.6 per cent

L&T Q3 results: Net profit rises 24% to Rs 2,553 cr, rev beats estimates

Bloomberg consensus estimates had pegged L&T's net profit for Q3 at Rs 2,570 crore, reveals data compiled by BS Research Bureau

Transport Corporation of India Q3 profit rises 23% to Rs 95 crore

Supply chain and logistics solutions provider Transport Corporation of India Ltd (TCI) on Monday reported a 23 per cent growth in standalone profit after tax at Rs 95 crore in the quarter ended December 2022. The company had posted a PAT (Profit After Tax) of Rs 78 crore in the same quarter of FY22, TCI said in a statement. Revenue from operations during the reporting quarter grew 16 per cent year-on-year at Rs 881 crore, it said. "The company has accomplished consistent performance amidst a stable macro environment in the third quarter of the current fiscal. All our business segments have delivered satisfactory results in line with expectations," said Vineet Agarwal, Managing Director at TCI. While the company keeps a balanced view on the industry-wide challenges around inflation and tightening of credit, "we are confident of achieving our goals to build an integrated multi-modal logistics solutions organisation," he added.

India's Inox Leisure reports quarterly profit as hits bring back moviegoers

Inox Leisure Ltd posted profit before exceptional items and tax for the third quarter, as movie buffs returned following a string of hits and splurged on pricier tickets and in-theater purchases

Textiles major Welspun India Q3 net profit declines 66.55% to Rs 43.83 cr

Home textiles major Welspun India on Monday reported a 66.55 per cent decline in consolidated net profit at Rs 43.83 crore in the third quarter ended December 2022, impacted by lower sales. The company had posted a consolidated net profit of Rs 131.06 crore in the same quarter last fiscal, Welspun India said in a regulatory filing. Consolidated total income during the quarter under review stood at Rs 1,904.05 crore as against Rs 2,437.92 crore in the year-ago period, it added. "The global environment remained challenging during Q3 FY23 due to inflation and slowdown across our key markets," Welspun Group Chairman B K Goenka said. Despite the challenges, he said, "Our domestic consumer business continued to consolidate its leadership position with 'Welspun' brand footprint at over 10,600 outlets and clocking its highest ever quarterly revenues during the quarter, growing in excess of 39 per cent YoY." During the quarter, the home textiles segment clocked a revenue of Rs 1,757.50 cro

Manufacturing, services sector log 8.27% attrition in Q3: Report

The average attrition rate across manufacturing and services industries increased sequentially to 8.27 per cent in the October-December quarter, a report said on Monday. With a continuance of the 'Great Churn', attrition across industries witnessed a 0.46 percentage point increase from an average of 7.81 per cent in the second quarter to 8.27 per cent in the third quarter, according to TeamLease "Employment Outlook Report". The report is forward looking statistics for 'Intent to Hire' for January to March 2023, for both manufacturing (nine industries) and services sectors (14 industries), which is based on a survey of 874 small, medium and large companies. The report revealed that the Information Technology industry in the services sector had higher average attrition (27.19 per cent) compared to Healthcare and Pharmaceuticals industry in the manufacturing sector (15.67 per cent). It found that healthcare and pharmaceuticals industries saw double digit attrition rates (15.67 per ce

Nippon India AMC reports 18% YoY profit growth in Q3 to Rs 205 cr

Total income rises 5% to Rs 416 crore

Mindspace REIT net operating income rises 16.8 % YoY on strong leasing

The company also raised Rs 100 crore through the issuance of commercial papers

GAIL Q3 profit drops 90% on petrochemical, natural gas marketing woes

State gas utility GAIL (India) Ltd on Monday reported 90 per cent drop in December quarter net profit after it suffered losses in petrochemical and natural gas marketing business. Consolidated net profit of Rs 397.59 crore in October-December 2022 is compared with Rs 3,800.09 crore earning in the same period a year back, according to the company's stock exchange filing. The nation's largest gas trading and transportation company booked Rs 349 crore loss in petrochemical business after it had to cut run rate due to curtailment in supply of cheaper domestic gas. Natural gas marketing division too incurred a loss while the pre-tax profitability of the core transmission business halved. Revenue from operations rose to Rs 35,939.96 crore in October-December 2022 from Rs 26,175.60 crore a year ago.

Punjab National Bank reports Q3 net profit down 44% to Rs 629 crore

Punjab National Bank (PNB) on Monday reported a 44 per cent decline in standalone net profit at Rs 629 crore in the third quarter ended December. The state-owned bank had earned a net profit of Rs 1,127 crore in the year-ago period. However, total income during October-December 2022 increased to Rs 25,722 crore as against Rs 22,026 crore in the year-ago period, PNB said in a regulatory filing. On the asset quality front, the bank recorded an improvement with gross NPAs (Non-Performing Assets) declining to 9.76 per cent as compared to 12.88 per cent at the end of third quarter of previous fiscal. At the same time, the net NPAs eased to 3.30 per cent as against 4.90 per cent in the same period a year ago. However, provisions for bad loans increased to Rs 3,908 crore during the quarter as against Rs 3,654 crore a year ago. The capital adequacy ratio rose to 15.15 per cent in the December quarter as against 14.91 per cent.

Orient Green Power dec quarter net profit rises 55% to nearly Rs 10 crore

Orient Green Power Company Ltd (OGPL) on Monday posted a 55 per cent rise in its consolidated net profit at Rs 9.74 crore in the quarter ended December 2022. The company's consolidated net profit stood at Rs 6.28 crore in the year-ago period, according to a regulatory filing. However, total income was at Rs 57.33 crore during the October-December quarter, as against Rs 63.30 crore a year ago. Total expenses were Rs 65.78 crore during the quarter under review as compared to Rs 75.68 crore in the corresponding period of the previous year. "Our efforts to reduce the expenses and service the debt on time resulted in improved rating of our SPVs (special purpose vehicles) and reduction in finance costs," T Shivaraman, company's Managing Director and CEO, said in a statement. In addition, the Late Payment Surcharge (LPS) scheme introduced by the ministry of power helped in realising the long pending dues from state-owned discoms, he noted. With improving cash flows, "we are exploring th

Nippon Life India Asset Management Q3 PAT up 18% to Rs 205 crore

Nippon Life India Asset Management Ltd (NAM India) on Monday reported an 18 per cent increase in the profit after tax (PAT) to Rs 205 crore for three months ended December 2022. In comparison, the company had a PAT of Rs 174 crore in the year-ago period, NAM India said in a statement. Also, the company's total income increased to Rs 416 crore in the quarter under review from Rs 369 crore in the third quarter that ended December 2021. "While Q3 was a volatile quarter with a positive bias from a macro standpoint, we grew our assets in the desired segments and increased profitability, driven by emphasis on 'investors' interest', aided by superior fund performance, strong risk management and granular distribution base," Sundeep Sikka, CEO at NAM India, said. Nippon Life India Asset Management is an asset manager of Nippon India Mutual Fund (NIMF). As on December 2022, NAM India's assets under management were Rs 3.6 lakh crore, which include Nippon India Mutual Fund asset base of Rs 2.

L-T profit misses as infrastructure growth eases; net profit rose 24%

BENGALURU (Reuters) -India's Larsen & Toubro reported a smaller-than-expected rise in quarterly profit on Monday, as moderate growth in order inflows hurt the infrastructure company.

Exide Q3 net up 11.38% to Rs 199 cr on price hikes, growth across verticals

Revenue from operations rises 6.8% to Rs 3,539 crore on volume growth

Sensex ends choppy day 170 pts up, Nifty at 17,650; IT stocks lead gains

Closing Bell: Broader markets trailed gains in benchmark indices. The BSE Midcap and Smallcap indices closed up to 0.2 per cent lower

Bajaj Finance's long range strategy lifts stock 5% higher

The consumer financier reported its highest-ever quarterly profit at Rs 2,973 crore in Q3FY23, up 40% YoY, aided by a healthy rise in NII and drop in provisions and contingencies

Indian Bank nears 52-week high in a weak market; stock up 19% in 3 months

Indian Bank said it is in a better financial health, well capitalised and the asset quality is continuously improving.

CSB Bank Q3 net up 5% to Rs 156 cr on strong growth in deposits and loans

Total income rises to Rs 682 crore from Rs 580 a year ago. Asset quality improves