Page 101 - Latest Updates on Q4 Results

Indian Bank logs Rs 5,281 cr net profit, plans to raise Rs 7,000 cr funds

Indian Bank closed FY23 with a net profit of Rs 5,281.70 crore and plans to raise about Rs 7,000 crore through equity and bond issues.

Exide profit at Rs 180.12 cr in Q4 FY23, number below analyst expectation

Increase in raw material prices hurt profitability on a sequential basis, says battery maker

Coal India Ltd shares slumps nearly 2% as Q4 profit drops to 17.7%

Shares of Coal India Ltd ended nearly 2 per cent lower on Monday after the company reported a 17.7 per cent drop in its March quarter net profit. The stock dipped 1.87 per cent to settle at Rs 232.90 apiece on the BSE. During the day, it declined 3 per cent to Rs 230. On the NSE, it fell 1.83 per cent to finish at Rs 233.05 per share. In terms of volume, 3.73 lakh shares of the firm were traded on the BSE and over 97.11 lakh shares on the NSE during the day. Coal India Ltd, the world's largest coal miner, on Sunday reported a 17.7 per cent drop in its March quarter net profit on higher provision made for wage revision of employees. The company reported a consolidated net profit of Rs 5,527.62 crore, or Rs 8.98 per share, in the January-March quarter as compared to Rs 6,715 crore, or Rs 10.86 a share earning in the same period a year back, according to the company's filing with stock exchanges. The company said salaries for non-executives are due for revision from July 1, 2021 and

Servotech Power Systems' Q4 profit jumps multi-fold to Rs 6 crore

Clean energy solution provider Servotech Power Systems on Monday posted multi-fold jump in consolidated net profit to Rs 6.05 crore for March quarter 2022-23 on the back of higher revenues. In the year-ago period, it logged a profit of Rs 1.3 crore, a company statement said. Total revenue rose to Rs 120 crore from Rs 51.10 crore in the same period a year ago. In entire fiscal year 2022-23, profit rose to Rs 11.06 crore from Rs 4.05 crore in the pervious year. Total revenue in the fiscal increased to Rs 278.64 crore from Rs 144.25 crore in 2021-22. "We witnessed robust growth during financial year 2023, led by launch of innovative tech-enabled solutions in the EV and solar space. Our advanced EV charging solutions offer fast and reliable service, while prioritizing safety, gained 25 per cent market share," company's Managing Director Raman Bhatia said. Additionally, the company's solar solutions which are characterized by their ease of installation, cost-effectiveness, and reliabil

Indian Bank Q4 net profit up 48% to Rs 1,520 crore as NII rises 29%

Board recommends dividend of Rs 8.60 per equity share, clears plan to raise equity capital

Indian Bank's Q4 profit up 47% to Rs 1,447 cr, driven by fall in bad loan

State-owned Indian Bank on Monday reported a 47 per cent rise in net profit to Rs 1,447 crore for the March quarter, helped by a decline in bad loans and a rise in interest income. The bank had earned a net profit of Rs 984 crore in the year-ago period. During the quarter, the bank's total income increased to Rs 14,238 crore against Rs 11,405 crore a year ago, Indian Bank said in a regulatory filing. Interest income grew to Rs 12,244 crore during the period under review from Rs 9,832 crore in the corresponding quarter of the preceding fiscal. The bank's board has recommended a dividend of Rs 8.60 per share or 86 per cent of Rs 10 face value for the year ended March 31, 2023. Gross non-performing assets (NPAs) were reduced to 5.95 per cent of gross advances as of March 31, 2023, from 8.47 per cent by the end of March 2022. Net NPAs also came down to 0.90 per cent of the advances from 2.27 per cent a year earlier. The fall in the bad loans ratio helped cut the provisions towards N

Exide posts Rs 181 crore Q4 net profit; revenue at Rs 3,677 crore

Battery maker Exide Industries on Monday posted a consolidated net profit of Rs 181 crore for the fourth quarter ended March 31, 2023. The company had logged a net profit of Rs 3,953 crore in the year-ago period, boosted by one-time income on account of sale of its subsidiary Exide Life Insurance Company Ltd. Revenue from operations rose to Rs 3,677 crore in January-March 2023 as against Rs 3,523 crore in the year-ago period, Exide Industries said in a regulatory filing. For the year ended March 31, 2023, the company reported a net profit of Rs 823 crore. It stood at Rs 4,357 crore in FY22 on account of sale of the subsidiary. Revenue from operations stood at Rs 15,078 crore as against Rs 12,789 crore in FY22. The company said its board has recommended a final dividend of Rs 2 per equity share of face value of Re 1 each for 2022-23. Shares of the company were trading 2.59 per cent up at Rs 192 apiece on BSE.

CG Power and Industrial Solutions' Q4 profit after tax rises to Rs 428 cr

CG Power and Industrial Solutions on Monday said its consolidated profit after tax (PAT) rose multi-fold to Rs 428.22 crore in March quarter 2022-23 on account of increased income. It had reported a PAT of Rs 111.65 crore for the year-ago quarter, the company said in a BSE filing. Total income surged to Rs 1,917.05 crore from Rs 1,492.77 crore in January-March FY22. Total expenses rose to Rs 1,654.63 crore from Rs 1,358.03 crore a year ago. CG Power is an engineering conglomerate with diverse portfolio of products, solutions and services for power and industrial equipment and solutions.

Canara Bank net profit up over 90% to Rs 3,175 cr in Jan-Mar quarter

State-owned Canara Bank on Monday reported a nearly doubling of net profit on standalone basis to Rs 3,174.74 crore for the quarter ended March 2023 on the back of higher interest income. The bank's profit in the January-March quarter of 2021-22 was Rs 1,666.22 crore. In a filing to stock exchanges, Canara Bank said there was a 90.63 per cent growth in the standalone profit after tax for the year ended March 31, 2023, at Rs 3,174.74 crore compared to Rs 1,666.22 crore in 2021-22. The net interest income (NII) for the quarter ended March 31, 2023 grew by 23.01 per cent. On a consolidated basis, the net profit rose to Rs 3,232.84 crore for the quarter ended March, up from Rs 1,969.04 crore in the corresponding period of previous fiscal. The lender also said for the year ended in March 2023, the standalone profit rose to Rs 10,603.76 crore, from Rs 5,678.42 crore. On a consolidated basis, profit for the year ended in March 2023, rose from Rs 5,795.10 crore to Rs 10,807.80 crore in .

Sensex recovers 800 pts from Friday's low; key reasons behind the rally

The S&P BSE Sensex recouped 817 points or 1.3 per cent from Friday's low to claim day's high of 61,832, whereas the NSE Nifty index recovered 224 points or 1.2 per cent to hit day's high of 18,279

Marico zooms 9% on steady Q4 performance; brokerages upgrade stock

Brokerage firm, Sharekhan has maintained 'Buy' rating on the stock with target price of Rs 645 per share. Prabhudas Lilladher upgrades stock to 'Accumulate'.

Olectra Greentech jumps 10% after net profit rises 52% YoY in Q4

The company is primarily engaged in the manufacturing of electric buses and composite polymer insulators

Paytm rallies 5% as Q4 loss narrows; Goldman Sachs sets Rs 1,150 target

The company reported a net loss of Rs 168 crore for Q4FY23 as against a net loss of Rs 763 crore in the year ago quarter.

Coal India down 3% as Q4 net drops on higher wages; analysts remain divided

Coal India set aside a provision of Rs 5,870.16 crore towards wages

Top 5 headlines: India Inc's net profit in Q4, FAME funds allocation & more

Business Standard brings you top news at this hour

Paytm, ABFRL, Coal India, BoI, Adani Power among top stocks to watch today

Stocks to Watch on May 8:Paytm's loss narrowed to Rs 168 crore from Rs 763 crore in the year-ago period.

Q4 earnings: India Inc's net profit growth slowest in 11 quarters

Slowdown in revenue growth, spike in interest expenses hit Q4 earnings

Coal India net profit rises 62% to record Rs 28,125 crore in FY23

Q4 profit slips marginally, Board declares Rs 4 per share dividend

Coal India Q4 profit drops 18% on wage bill; record net profit in FY23

Coal India Ltd, the world's largest coal miner, on Sunday reported 17.7 per cent drop in its March quarter net profit on higher provision made for wage revision of employees. Consolidated net profit of Rs 5,527.62 crore, or Rs 8.98 per share, in January-March is compared with Rs 6,715 crore, or Rs 10.86 a share earning in the same period a year back, according to the company's filing with stock exchanges. The decline in profit in the fourth quarter of 2022-23 (April 2022 to March 2023) was despite coal production and dispatches to users. The company said salaries for non-executives are due for revision from July 1, 2021 and pending finalisation of a wage agreement with unions, a provision of Rs 5,870.16 crore has been made in the quarter. This is compared with Rs 475.28 crore provision in January-March 2022. For the full 2022-23 fiscal, Coal India made a provision of Rs 8,152.75 crore as against Rs 1,080.97 crore provided in the previous 2021-22 financial year. Coal production ros

Q4 earnings, foreign fund trading key triggers for mkts this week: Analysts

The domestic equity markets will be driven by ongoing quarterly earnings announcements and global factors this week, analysts said. Besides, the trading activity of Foreign Portfolio Investors (FPIs) would also be tracked. "In the domestic market, the March 2023 quarterly earnings season and Karnataka assembly elections will be in focus. Asian Paints, Cipla, Eicher Motors, Larsen & Toubro and UPL Q4 earnings are in the pipeline for this week," Pravesh Gour, Senior Technical Analyst at Swastika Investmart Ltd, said. The movement of the rupee against the dollar and crude oil prices will also remain in focus, Gour said. "Global markets are in a brittle mode because everyone is eyeing US regional banking systems (small banks), which are in trouble," he added. Also, Apollo Tyres, Indian Overseas Bank and Tata Motors would announce their earnings this week. "This week, participants will be eyeing macroeconomic data viz. IIP and CPI for cues on May 12. Besides, the US inflation, which i