Page 78 - Latest Updates on Q4 Results

BNP Paribas net income falls 50%, misses earnings forecast in Q4

BNP's group sales in the fourth quarter were up 0.1% to 10.9 billion euros, below the 11.4 billion-euro average analyst estimate

Pfizer posts surprise 4th quarter profit, but key products miss on sales

The New York-based drugmaker earned 10 cents per share on an adjusted basis for the fourth quarter. Analysts on average had expected a loss of 22 cents per share, according to LSEG data

'Macrotech Developers aims to generate surplus cash in Q4, reduce debt'

Realty firm Macrotech Developers Ltd will focus on generating surplus cash flow and reducing debt by at least 11 per cent this quarter to Rs 6,000 crore helped by strong housing demand, its MD and CEO Abhishek Lodha said. In an interview with PTI, he expressed confidence in achieving sales bookings guidance of Rs 14,500 crore for this fiscal year on the back of a strong launch pipeline in the current January-March quarter. Mumbai-based Macrotech Developers markets its properties under the Lodha brand. It is one of the leading real estate developers in the country with a major presence in Mumbai Metropolitan Region (MMR) and Pune. "Under new business development, we have already added many land parcels in the first nine months of this fiscal with an estimated revenue potential of Rs 20,300 crore as against the full-year target of Rs 17,500 crore. We will not be adding any meaningful projects this quarter," Lodha said. Macrotech Developers buys land outright and also partners with ..

Tesla set to erase $50 billion in valuation after Elon Musk's sales warning

"The Tesla headlines have essentially gone from bad to worse," said TD Cowen analysts, noting that the fourth-quarter revenue and profit were also below expectations

Blackstone Q4 results: Earnings rise 4% to $1.4 bn as asset sales pick up

Distributable earnings, which represents cash used to pay dividends to shareholders, rose to nearly $1.4 billion in the three months to Dec. 31, up from $1.3 billion a year earlier

Nokia Q4 results: Profit drops to $619 mn amid 5G cutback, sales down 23%

Nokia on Thursday reported a double-digit decline in sales and a fall in profit in the last three months of 2023, with the wireless and fixed-network equipment maker saying operators are cutting back on investments into 5G and other technology because of economic uncertainty. The Espoo, Finland-based company reported net profit of 568 million euros ($619 million) for the October-to-December quarter, down from 929 million euros in the same period a year earlier. Nokia is one of the world's main suppliers of 5G, the latest generation of broadband technology, along with Sweden's Ericsson, China's Huawei and South Korea's Samsung. Nokia's net income attributable to shareholders came in at 558 million euros in the fourth quarter, down from 931 million euros the previous year. Nokia's sales also fell 23%, to 5.7 billion euros from 7.5 billion euros. In 2023 we saw a meaningful shift in customer behaviour impacting our industry driven by the macro-economic environment and high interest ..

Ericsson expects decline in 5G demand from telcos despite Q4 earnings beat

After a few years of high demand for 5G equipment, buying by telecom providers slowed last year, prompting firms such as Ericsson and Nokia to lay off thousands of employees to save costs

US Q4 GDP shows annualised 2% rise, expected to crown vigorous second half

While the Fed wants to guard against a re-acceleration of inflation, a further softening of price pressures risks making policy even more restrictive

TSMC posts flat Q4 revenue but beats market expectations on AI boom

For December alone, TSMC reported that revenue fell 8.4% year-on-year to T$176.3 billion, which was down 14.4% compared with the previous month

HDFC Bank's advances rise 62.4% to Rs 24.7 trn in December quarter

Retail deposits of the private sector major rose by Rs 53,000 crore during the quarter

Park+ to turn profitable in Mar 2024 qtr, double revenue to Rs 200 cr

Car care services start-up Park+ expects to turn profitable by the January-March 2024 quarter and close the current fiscal with over Rs 200 crore, a senior company official said. Park+ Founder and CEO Amit Lakhotia said that the company at present has operations in about 30 cities and plans to expand to over 100 cities by 2024. The Epiq Capital backed company has raised USD 55 million till date to fund its operation which is sufficient for the company to fund operations as well as planned expansion. "We want every service related to cars and car owners to be available on our platform. We are providing parking, car cleaning and repair services etc through the app. Roughly every 4th car in India is on Park+. We expect to turn profitable by the January-March 2024 quarter," Lakhotia said. He said that Park+ has services now available at over 7,000 locations in 30 cities and there is no user acquisition cost now for the company. "We expect to post revenue of Rs 200 crore this fiscal. W

Govt may infuse capital in PSU general insurers in Q4 based on performance

Finance Ministry would consider capital infusion in three loss-making public sector general insurance companies based on their financial performance of nine months. The infusion if required would be made in the fourth quarter of the current financial year, sources said. According to sources, the finance ministry last year asked three insurers -- National Insurance Company Limited, Oriental Insurance Company Limited and United India Insurance Company -- to chase bottomlines rather than topline and underwrite only good proposals. The financial review would give some idea about the impact of restructuring initiated on the profitability numbers and the solvency margin, sources said. The solvency margin is the extra capital the companies must hold over and above the claim amounts they are likely to incur. It acts as a financial backup in extreme situations, enabling the company to settle all claims. The government last year provided Rs 5,000 crore capital to three insurers -- National

ACC, Ambuja Cements face resistance from shareholders to adopt FY23 results

The resolution at Adani-owned ACC and Ambuja Cements was still passed with the support of promoters

Tough times: IT consulting major Accenture may log subpar revenue in Q4

IT services companies across the globe are seeing a slowdown as some discretionary work is being cancelled or delayed

Sun Pharma's growth prospects look healthy; analysts positive on the stock

Majority of analysts positive on the stock; their average target price indicates an upside potential of 15 per cent

Paytm rallies 8% to hit over 9-month high on BofA Securities 'buy' call

The brokerage firm BofA Securities upgraded the stock to 'Buy' on the back of strong revenue momentum and operational leverage, which can surprise on consensus estimates.

ReNew Energy Global Plc posts Rs 7.4 crore net profit in March quarter

ReNew Energy Global Plc has posted a net profit of Rs 7.4 crore, mainly on the back of higher revenues. "Net profit for Q4 FY23 (January-March 2023) was Rs 74 million (USD 1 million) compared to a net loss of Rs 3,554 million (USD 43 million) for Q4 FY22 (January-March 2022," a company statement said. The total income (or total revenue) for Q4 FY23 was Rs 2,591.6 crore (USD 315 million), an increase of 47.1 per cent over Q4 FY22. The company's net loss narrowed to Rs 502.9 crore (USD 61 million) in fiscal 2022-23 from a loss of Rs 1,612.8 crore (USD 196 million) for FY22. Its total income (or total revenue) for FY23 was Rs 8,930.9 crore (USD 1,087 million), an increase of 29.1 per cent over FY22. As of March 31, 2023, the company's portfolio consisted of 13.7 GWs, a 28.2 per cent increase year-on-year, of which eight GWs are commissioned and 5.7 GWs are committed. The company expects to complete construction on 1,750 to 2,250 MWs by the end of fiscal year 2024. As much as 101 MW

Hero MotoCorp surges 4%, nears 52-week high on healthy sales in May

HMCL said the momentum is expected to continue in the coming months, driven by an uptick in customer sentiments, forecast of normal monsoon and a host of new launches in the premium segment.

Westlife Foodworld soars 10% to hit a new high on strong business outlook

Despite weak macros, Westlife Foodworld is targeting 40-45 store additions (vs. 35 in FY23) and has guided for a strong 8 per cent SSG in FY24.

Cyient surges 9%, nears 52-week high on healthy business outlook

Thus far in the calendar year 2023 (CY23), the stock price of Cyient has zoomed 74 per cent, as against 2.5 per cent rise in the S&P BSE Sensex.