 "From Ambuja Cements to Tata Steel: Q4 results to watch out for today")
Several companies are scheduled to declare their financial results for the fourth quarter of 2022-23 (FY23) today. Amid these are two companies of the Adani Group, Adani Gas and Ambuja Cements, Tata Steel and public lender UCO Bank. The results for Adani group companies are important to look at the fundamentals of the group after the rout its companies had to face post the release of a report by Hindenburg Research in January this year.
Ambuja Cements Q4 results preview
The Adani Group acquired Ambuja Cements in September last year. In the quarter ending December 31, 2022 (Q3FY23), the company reported a net profit of Rs 368.99 crore, up 46 per cent as compared to Q3FY22.
In the quarter ending March 31, 2022, the company reported a net profit of Rs 856.46 crore. In March, the promoters of Adani Group prepaid a $500-million facility taken for Ambuja acquisition financing.
It was in line with the promoters' commitment to increase equity contribution, and they have now infused $2.6 billion out of the total acquisition value of $6.6 billion for Ambuja and ACC, the company had said in a statement.
Adani Total Gas Q4 results preview
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Founded in 2004, the supplier of piped natural gas posted a 17 per cent jump in net consolidated profit at Rs 150 crore in the quarter that ended December 2022. The same was Rs 128 crore in the corresponding quarter of last year.
Revenue from operations had risen 27 per cent year-on-year (YoY) to Rs 1,185 crore in Q3FY23. It was Rs 931 crore in the same quarter in 2021. In the fourth quarter of last year (Q4FY22), the company reported a net profit of Rs 75.79 crore.
Tata Steel Q4 results preview
The Indian steel major had reported a 76 per cent fall in consolidated net profit to Rs 2,224 crore in the quarter ended December 31, 2022 (Q3FY23). The company's revenue had fallen a six per cent fall on revenue from operations to Rs 57,083 crore from Rs 60,783 crore in the subsequent quarter in FY22.
In the quarter ended March 31, 2022, the company's net profit stood at Rs 7,714 crore. The company had also announced the stock split in the ratio of 1:10.
UCO Bank Q4 results preview
The public sector bank had reported a 110 per cent rise in its net profit in the quarter that ended December 31, 2022 (Q3FY23), to Rs 653 crore from Rs 310 crore a year ago. It was the highest quarterly net profit the bank had recorded in 80 years.
The jump in net profit was credited to lower bad loan provisions and good recovery from written-off loans. During the quarter, the PSB had recovered Rs 458 crore from written-off loans. Its net interest income rose 10 per cent. The net NPA ratio fell to 1.66 per cent in Q3FY23 from 2.81 per cent a year ago.
In Q4FY22, the bank's net profit was Rs 312.18 crore.