Airtel had, on Monday, reported Q4 loss at Rs 5,237 crore, mainly on account of provisioning for paying statutory dues, while its full year losses ballooned to a record Rs 32,183 crore.
The company had posted a net profit of Rs 146.81 crore for the same period previous fiscal, GlaxoSmithKline Pharmaceuticals said in a BSE filing.
The company had posted a profit of Rs 107.2 crore in the same period a year ago.
The net profit came down 33 per cent to Rs 246 crore, lower than Street expectations. Emkay Global had expected a 3 per cent dip in profit for the quarter.
Revenue for the period fell nearly 14 per cent to Rs 2,153 crore.
Strong demand for packaged food will cap the impact of lockdown, say analysts.
Revenue up 10%, firm claims it posted its best-ever quarterly performance in terms of value of real estate sold
Fund house held sizeable market share in individual investors' segment
Had it not been for Covid-19 impact, the company would have reported a sharp 80 per cent year-on-year jump in its pre-tax profit to Rs 692 core.
With demand from industrial, commercial and transportation down, the hit on volumes is expected to be higher for the June quarter
Analysts would track the management's commentary on Covid-19 related impact, traction in deposits post investment in YES Bank, movement of reported GNPAs, and moratorium utilised by customers
Like some of its peers, the Noida-based company did not provide a full-year guidance given the current global uncertainty
The lender had psoted a pre-tax loss of Rs 2,338.31 crore in the same quarter of previous financial year
This would be the first quarterly result after eight private financial institutions picked up stake in it under the Reserve Bank of India-initiated restructuring scheme
The Street had factored in a drop of 2-4 per cent in Q4 volume growth on account of the Covid-19 outbreak and subsequent lockdown but 7% decline was a surprise for many.
At the net profit level, aided by lower interest costs, the company recorded a growth of 73 per cent on a sequential basis and nearly trebled over the year-ago period.
Its revenues for FY20 grew by 24.8 per cent on a yearly basis to Rs 62,936 crore. Ebitda for FY20 grew by 56 per cent y-o-y to Rs 9,654 crore.
The bank's slippages moderated significantly in March, but provisioning costs because of the coronavirus rose.
Analysts at MOFSL believe the Mumbai-based bank's credit cost may stay elevated led by higher slippages. Besides, asset quality could witness some pressure along with modest loan growth.
To cushion against the uncertainties arising due to the outbreak of the coronavirus (Covid-19) pandemic, the bank has provided for Rs 260 crore under the provisions and contigencies segment