Page 99 - Q3 Results

Canara Bank Q3 profit jumps 29% to Rs 3,656 crore, NII rises 9.5%

State-owned Canara Bank on Wednesday posted a 29 per cent increase in its profit at Rs 3,656 crore in the third quarter ended December 2023. The bank had earned a net profit of Rs 2,832 crore in the same quarter a year ago. Total income increased to Rs 32,334 crore during the quarter under review against Rs 26,218 crore in the same period last year, Canara Bank said in a regulatory filing. The net interest income of the bank rose by 9.5 per cent to Rs 9,417 crore during the quarter. About asset quality, the bank said its gross Non-Performing Assets (NPAs) declined to 4.39 per cent of the gross loans by the end of December 2023 from 5.89 per cent a year ago. Similarly, net NPAs or bad loans came down to 1.32 per cent from 1.96 per cent at the end of the third quarter of the previous fiscal.

CG Power and Industrial reports Q3 standalone PAT at Rs 216.47 crore

CG Power and Industrial Solutions Ltd has reported a standalone profit after tax of Rs 216.47 crore for the October-December 2023 quarter, the company said in a statement on Wednesday. The company's standalone PAT for the corresponding quarter of last financial year was Rs 242.75 crore. For the nine months ending on December 31, 2023, the company's standalone PAT grew to Rs 763.77 crore from Rs 545.13 crore registered during the same period of last year, the Murugappa Group company said in the statement. During the quarter under review, the company realised that there was a weak demand for motors and took a strategic call to sell aggressively to retain their customers and protect its turf. This strategy had an effect of margins dipping on one hand while simultaneously helping gain a market share on the other, the company said. The standalone total income during the quarter under review went up to Rs 1,914.86 crore from Rs 1,680.30 crore registered in the corresponding period of the

Hitachi Energy India posts multi-fold rise in Q3 net profit at Rs 23 crore

Hitachi Energy India posted a multi-fold jump in its net profit at Rs 23 crore for the quarter ended December 31, 2023 on higher revenues. "Profit after tax (net profit) was at Rs 23 crore (in October-December 2023), clocking a recovery of 400 per cent year-on-year on a low base," a company statement said. In the October-December period of 2022, Hitachi Energy India had reported a net profit of Rs 4.6 crore. "Technologies and market innovations are playing a pivotal role in navigating the complexities of the evolving energy landscape. These have further expedited the pace of energy transition across sectors, helping us sustain our growth this quarter," said N Venu, Managing Director and CEO, Hitachi Energy India Ltd in the statement. The company's revenues increased to Rs 1,276.4 crore in the quarter under review, from Rs 1,041 crore in the same period a year ago. "Strong order execution and mitigation of some supply chain challenges have helped deliver revenue and bottom-line gro

Axis Bank sinks 6% in sharpest fall in 5 months; Motilal downgrades stock

MOFSL said an elevated CD ratio will constrain credit growth, while continued re-pricing of deposits will likely exert pressure on margins in the coming quarters.

Bajaj Auto Q3 preview: Adverse product mix may hurt margins, say analysts

Two-wheeler major Bajaj Auto is expected to post over 30 per cent year-on-year rise in both, revenue and net profit, when it reports its December quarter (Q3FY24) earnings on Wednesday, January 24

Stocks to Watch today: Axis, HDFC Bk, LTFH, Airtel, Lupin, REC, JSW Energy

Stocks to watch on Wednesday, January 24, 2024: Bajaj Auto, Canara Bank, DLF, Exide, Indian Oil, Tata Steel, Tech Mahindra and TVS Motor to announce Q3 results today.

L&T Finance Holdings Q3 results: Net profit up 41% at Rs 640 crore

Its credit costs declined to 2.52 per cent from 2.67 per cent a year ago

Indus Towers Q3 results: Profit at Rs 1,541 crore, revenue rises 6%

Telecom infrastructure major Indus Towers posted a consolidated profit after tax of Rs 1,541 crore in the December quarter, the company said on Tuesday. The company had posted a loss of Rs 708 crore in the year-ago period. The company's consolidated revenue grew 6 per cent in the third quarter of the ongoing fiscal to Rs 7,199 crore from Rs 6,765 crore a year ago. "Our third consecutive quarter of record tower additions demonstrated our robust operational performance. We expect our major customer's focus on its network expansion and the ongoing 5G rollouts to continue, yielding growth opportunities for us in the near term," Indus Towers Managing Director and CEO Prachur Sah said in the statement. The company's total number of towers increased by 22,383 on a year-on-year basis to 2,11,775. "The return on capital employed improved to 19.2 per cent as against 12.5 per cent on year-on-year basis. Third quarter of the financial year had an impact of Rs 2,270 crore due to provision for

L&T Finance Q3 results: Net profit jumps 41% to Rs 640 crore, NII up 8%

L&T Finance Holdings on Tuesday reported a 41 per cent jump in net profit to Rs 640 crore for the December quarter, driven by retail loan sales. The Mumbai-based Non-Banking Financial Company (NBFC) had earned a net profit of Rs 454 crore in the year-ago period. The Net Interest Income (NII) of the NBFC grew 8 per cent to Rs 1,833 crore as compared to Rs 1,693 crore in the same quarter in the previous year, L&T Finance Holdings Ltd said in a statement. The company's retail disbursements grew 25 per cent to Rs 14,531 crore. The company completed the merger of L&T Finance Ltd, L&T Infra Credit Ltd, and L&T Mutual Fund Trustee Ltd with L&T Finance Holdings Ltd in the third quarter, it said.

United Spirits profit climbs on premium liquor demand in third quarter

A greater number of affluent Indians are choosing more expensive cars and consuming pricier food and liquor, unaffected by inflation

REC net profit rises 13% in Dec quarter on improved asset quality

The net income of the company stood at Rs 4,350 crore in Q3 FY24 as against Rs 3,573 crore in Q3 FY23, registering a jump of 21 per cent

Puravankara net profit rises 266% to Rs 78 crore in third quarter

Puravankara declared its earnings after market hours on Tuesday. Ahead of the earnings, its shares were down 6 per cent to close at Rs 220.90 on the Bombay Stock Exchange (BSE)

Havells India's Q3 profit rises marginally to Rs 288 cr on demand of wires

The company reported a profit of 2.88 billion rupees ($34.7 million) for the quarter ended Dec. 31, compared to 2.84 billion rupees last year

Karnataka Bank Q3 net profit up 10% at Rs 331 cr, gross NPA falls to 3.64%

Private sector lender Karnataka Bank on Tuesday reported a 10 per cent rise in net profit to Rs 331 crore for the third quarter ended December 2023. The bank had earned a net profit of Rs 301 crore in the October-December quarter of 2022. The total income increased to Rs 2,439 crore in the third quarter of the current fiscal compared to Rs 2,055 crore in the year-ago period, Karnataka Bank said in a regulatory filing. In the latest quarter, the bank's interest income rose to Rs 2,113 crore from Rs 1,851 crore in the same period last fiscal. However, the net interest income declined to Rs 828 crore from Rs 835 crore at the end of the third quarter of last year. The gross non-performing asset (NPA) ratio declined to 3.64 per cent as of December 31, 2023. In the year-ago period, it stood at 3.28 per cent. However, the net NPA declined to 1.55 per cent compared to 1.66 per cent at the end of December 2022. The provision coverage ratio stood at 80.75 per cent at the end of December .

Sona BLW Q3 profit rises 24% to Rs 133 crore, income up 13% at Rs 777 cr

Mobility tech firm Sona BLW Precision Forgings (Sona Comstar) on Tuesday reported a 24 per cent year-on-year growth in consolidated profit after tax at Rs 133 crore in the three months ended December 2023. The company had recorded a consolidated profit after tax of Rs 107.10 crore in the December quarter of FY23, it said. Total income in the third quarter of the current fiscal was Rs 777 crore as against Rs 685 crore reported in the year-ago period, a growth of 13 per cent, according to the company. EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortisation) for Q3FY24 stood at Rs 227.3 crore, a growth of 22 per cent compared to Rs 186.2 crore in the same quarter last fiscal, it said. The company also said that with five new BEV (Battery Electric Vehicle) programme wins, the net order book has increased to the highest ever level of Rs 24,000 crore. "We delivered our highest quarterly EBITDA, net profit, BEV revenue, BEV revenue share and order book in Q3 FY24. "Our BE

Glenmark Life Sciences Q3 profit rises to Rs 119 cr, API biz up 6.4%

The Mumbai-based company, which detergent maker Nirma is in the process of taking over, said its profit rose to 1.19 billion rupees ($14.32 million) in the quarter ended Dec. 31

Route Mobile Q3 results: Profit rises 28% to Rs 106 cr, revenue up 3.91%

Cloud Communications service provider Route Mobile on Tuesday reported over 28 per cent year-on-year jump in consolidated net profit for the December quarter at Rs 105.7 crore, according to a company filing. The company's profit (attributable to owners of the holding company) stood at Rs 82.44 crore in the corresponding period in the last fiscal. According to a stock exchange filing, the company's revenue from operations climbed to Rs 1,024.3 crore, with a 3.91 per cent year-on-year growth. The profit -- attributable to owners of the holding company -- stood at Rs 105.7 crore in the third quarter of the ongoing fiscal, from Rs 82.4 crore in the year-ago period. This translated into a year-on-year growth of 28.2 per cent. The Profit After Tax came in at Rs 113.6 crore, up 33 per cent over the year-ago period. In a release, the company said, "PAT reported at Rs 113.6 crore for Q3FY24 as against Rs 88.4 crore in Q2 FY24. PAT margin stood at 11.1 per cent." Route Mobile Ltd MD and gr

Pidilite's Q3 profit jumps to Rs 510 crore on strong demand, lower costs

Consolidated net profit rose to 5.10 billion rupees ($61 million) in the October-December period from 3.04 billion rupees a year earlier, the maker of Fevicol brand of adhesive said

JSW Energy Q3 profit rises 28% to Rs 231 cr on demand boost, low fuel costs

India's electricity generation rose 8.7% year-on-year in the December quarter, which analysts attributed to festive activities and strong industrial demand

RattanIndia Power net loss widens to Rs 587 crore in December quarter

RattanIndia Power on Tuesday reported a widening of consolidated net loss to Rs 586.97 crore in the December quarter compared to a year ago, mainly due to lower revenues. According to a regulatory filing, the company's consolidated net loss stood at Rs 479.76 crore in the quarter ended on December 31, 2022. In the October-December period, the total income declined to Rs 888.30 crore as against Rs 931.29 crore a year ago.