Page 98 - Q3 Results

Tata Steel returns to profit in Q3, posts PAT of Rs 513 cr, revenue dips 3%

On standalone basis, the company's net profit stood at Rs 4,653.04 crore and revenue at Rs 34,681.90 crore

Indian Bank Q3 profit up 52% at Rs 2,119 cr, income rises to Rs 16,099 cr

The public sector Indian Bank on Wednesday reported a 52 per cent jump in net profit at Rs 2,119 crore in the December quarter, on the back of improvements in core income and a reduction in bad loans. The Chennai-based lender had earned a net profit of Rs 1,396 crore in the same quarter a year ago. The operating profit of the bank was almost flat at Rs 4,097 crore as against Rs 4,061 crore in December 2022. Total income increased to Rs 16,099 crore during the quarter under review as compared to Rs 13,551 crore in the same period last year, Indian Bank said in a regulatory filing. Interest income also rose to Rs 14,198 crore over Rs 11,834 crore for the quarter ended December 2022. On the asset quality front, the bank's gross Non-Performing Assets (NPAs) declined to 4.47 per cent of the gross loans by the end of December 2023 from 6.53 per cent a year ago. Similarly, net NPAs or bad loans came down to 0.53 per cent as compared to 1 per cent in 2022. As a result, provisions for ba

IOC Q3 net profit jumps to Rs 9,030 cr on improved marketing margins

The profit in the year-ago quarter was significantly impacted due to under-recoveries arising from higher input costs in the form of crude oil prices

Outlook healthy for UltraTech amidst higher competition, revenue grows 8%

The management estimates that capacity utilisation will improve to 80-85 per cent in Q4 from 77 per cent in Q3. Demand has recovered, except in the North

Canara Bank Q3 results: PAT up 26.86% at Rs 3,656 cr driven by loan growth

Net Interest Margins (NIM) for the third quarter stood at 3.03 per cent, compared to 3 per cent in the previous quarter and 3.05 per cent in the same period last year

Worst not over for bank stocks; sit on the sidelines for now, say analysts

The recent quarterly results of HDFC Bank and Axis Bank had disappointed the street, which in turn triggered market-wide selling by FPIs, especially in banking counters

Motilal Oswal shares jump 11% after it reported 191% profit growth in Q3

The jump in profit was aided by comparatively lower growth in expenses

Birlasoft Q3 profit at Rs 161 cr, revenue rises by 10% to Rs 1,342.5 cr

IT company Birlasoft on Wednesday reported Rs 161 crore consolidated profit after tax for the third quarter ended December 2023, the company said in a regulatory filing. The company had posted a loss of Rs 16.36 crore in the same quarter a year ago. The revenue from operations of Birlasoft grew by about 10 per cent to Rs 1,342.5 crore in the December 2023 quarter from Rs 1,221.89 crore in the December 2022 quarter. "We have delivered a strong and well-rounded operating performance, with a 1.9 per cent sequential growth in revenue to USD 161.3 million in a seasonally soft quarter and an expansion in EBITDA margin even after absorbing the full impact of compensation hikes," Birlasoft, Chief Executive Officer and Managing Director Angan Guha said in a statement. The headcount of the company slightly increased to 12,356 during the December 2023 quarter from 12,322 in the previous quarter, with the attrition rate falling to 12.6 per cent during the reported quarter. "Our sharp focus on

PNB Housing Finance Q3 profit rises 26% to Rs 338 cr on lower expenses

Interest rates have moderated in recent times, with the country registering its highest home sales since 2008 last year, according to a report

TVS Motor Q3 net profit up 59% to Rs 479 cr amid rise in two-wheeler sales

During the quarter under review, the company's revenue from operations increased by 25 per cent to Rs 10,113.94 crore, while it was seen at Rs 8,066.13 crore during the third quarter of 2022-23

Tata Steel Q3 profit at Rs 513 crore as lower costs counter weak revenue

Subdued local prices due to cheaper shipments from top producer China hurt the country's steelmakers in the October-December period, despite sustained domestic demand

UCO Bank Q3 profit declines 23% to Rs 505 crore on wage provisions

State-owned UCO Bank on Wednesday reported 23 per cent decline in net profit at Rs 503 crore for December quarter 2023-24. The Kolkata-based lender had logged a net profit of Rs 653 crore in the same quarter a year ago. Operating profit was almost flat at Rs 1,119 crore as against Rs 1,354 crore in December 2022 quarter. Total income increased to Rs 6,413 crore from Rs 5,451 crore in the same period last year, UCO Bank said in a regulatory filing. Interest income also rose to Rs 5,552 crore over Rs 4,627 crore. On the asset quality front, the bank's gross Non-Performing Assets (NPAs) declined to 3.85 per cent of gross loans by the end of December 2023 from 5.63 per cent a year ago. Similarly, net NPAs or bad loans came down to 0.98 per cent as compared to 1.66 per cent in 2022. As a result, provisions for bad loans declined to Rs 116 crore from Rs 220 crore a year ago. The capital adequacy ratio rose to 16.01 per cent from 14.32 per cent at the end of December quarter FY22.

Dalmia Bharat Q3 net profit rises 22% to Rs 266 cr, revenue up 7.3%

Cement maker Dalmia Bharat Ltd on Wednesday reported a 22 per cent rise in its consolidated net profit to Rs 266 crore for the December quarter, helped by volume sales growth and correction in commodity prices. The company had posted a net profit of Rs 218 crore in the October-December quarter a year ago, according to a regulatory filing. Its revenue from operations grew 7.3 per cent to Rs 3,600 crore during the quarter under review. It was at Rs 3,355 crore in the corresponding period of the previous fiscal. Dalmia Bharat's total expenses increased 6.37 per cent to Rs 3,303 crore during the quarter under review. Its sales volume climbed 8.1 per cent to 6.8 million tonnes in Q3 FY23. During the quarter, it also "received final instalment of Rs 120 crore from Hippostores Technology, a promoter group company, on account of sale of Hippo Stores," the company said in a earnings statement. Hippo Stores is a new business funded by the Dalmia Bharat group based on the Home Depot model b

IOB Q3 profit rises 30% to Rs 723 cr, expects 13-14% credit growth in FY25

State-run lender's asset quality improves, has 'tight grip' on slippages

Motilal Oswal Financial Services Q3 profit jumps nearly 3 fold to Rs 660 cr

Motilal Oswal Financial Services on Wednesday said its Profit After Tax (PAT) jumped nearly 3 fold to Rs 660 crore in the quarter ended December 2023, on higher revenues. The company had posted a net profit of Rs 229 crore in the October-December quarter a year ago, the company said in a release. The consolidated operating revenue for the quarter grew to Rs 1,377 crore in the third quarter of this financial year, as against Rs 1,060 crore in the year-ago period. "We have delivered strong performance across segments in Q3FY24. Our Capital market business has demonstrated remarkable performance, reporting an all-time high quarterly profit and strengthening our retail market share position in Cash and F&O Premium segment to 7.5 per cent & 8.1 per cent respectively," said Motilal Oswal, MD & CEO of the company. Capital markets comprise Retail Broking and Distribution, Institutional Equities and Investment Banking business. Revenues for this segment grew to Rs 1,028 crore. "Our

Bajaj Auto Q3 PAT rises 38% to Rs 2,033 crore, revenue at Rs 12,165 crore

Bajaj Auto Ltd on Wednesday reported a 38 per cent jump in consolidated Profit After Tax (PAT) to Rs 2,032.62 crore in the December quarter. The company had posted a consolidated PAT of Rs 1,472.7 crore in the year-ago period, Bajaj Auto said in a regulatory filing. Consolidated total revenue from operations in the third quarter of the ongoing fiscal stood at Rs 12,165.33 crore, up from Rs 9,318.54 crore in the year-ago period, it added. Total expenses were higher at Rs 9,855.44 crore as against Rs 7,644.55 crore in the same period a year ago, the company said. Growth in revenue was led by acceleration in domestic business, which on the back of sharp execution and impactful activation during the festive season, cushioned the relatively subdued, albeit recovering, export sales amidst continued challenges in overseas markets, Bajaj Auto said. The company said while navigating volatile overseas markets, exports posted near double-digit revenue growth on better mix and dollar ...

IOC Q3 net profit soars to Rs 8,063 cr, on road to best-ever annual earning

Indian Oil Corporation (IOC) on Wednesday reported a massive jump in its third quarter net profit as compared to the year-ago period when it was financially struggling as input raw material crude oil prices spiked but retail finished product prices remained on freeze. Standalone net profit of Rs 8,063.39 crore in October-December 2023-24 was higher than Rs 448.01 crore profit in the same period a year ago but lower than Rs 12,967.32 crore earnings in the preceding three months ended September 30, 2023, according to a stock exchange filing by the company. The profit was aided by a boost in marketing margins as a freeze on petrol and diesel price revision despite a fall in input crude oil prices helped recover losses incurred when rates were high in 2022-23. Pre-tax earnings from sale of petroleum products soared to Rs 11,428.88 crore in the third quarter of the current fiscal compared to Rs 1,541.95 crore in the same period last year. IOC uses mostly imported crude oil to make fuel

Tech Mahindra Q3 profit declines 60% as communications vertical lags

The Mahindra group company had reported a net profit of Rs 1,296.6 crore in the year-ago period while the same was at Rs 493.9 crore in the quarter-ago period

TRIL freezes at 20% upper limit; hits new high on healthy business outlook

The company had a strong order book position of Rs 2,572 crore as on December 31, 2023 (Q3FY24).

IOB Q3 profit jumps 30% to Rs 723 cr on improvement in core income

State-owned Indian Overseas Bank (IOB) on Wednesday reported 30 per cent rise in net profit at Rs 723 crore for December quarter 2023-24, on the back of improvement in core income and reduction in bad loans. The Chennai-based lender had earned a net profit of Rs 555 crore in the same quarter a year ago. Operating profit of the bank improved to Rs 1,780 crore as against Rs 1,540 crore in December 2022. Total income increased to Rs 7,437 crore during the quarter under review from Rs 6,006 crore in the same period last year, IOB said in a regulatory filing. Interest income also rose to Rs 6,176 crore over Rs 5,056 crore for the quarter ended December 2022. During the quarter, the bank had done total cash recovery of Rs 327 crore as against Rs 460 crore in the third quarter of the previous fiscal. On the asset quality front, the bank's gross Non-Performing Assets (NPAs) declined to 3.90 per cent of gross loans by the end of December 2023 from 8.19 per cent a year ago. Similarly, net