Page 10 - Corporate Earnings

IIFL Finance Q1 FY25 results: Net profit falls 28% to Rs 338 crore

IIFL Finance on Tuesday posted 28 per cent decline in consolidated profit at Rs 338 crore for June quarter FY25 as RBI imposed ban on its gold loan business. The NBFC had earned a profit of Rs 473 crore in the same quarter a year ago. The Reserve Bank of India (RBI) on March 4 barred IIFL Finance from disbursing gold loans with immediate effect following multiple supervisory concerns, including serious deviations in assaying and certifying the purity of the yellow metal. Total income increased to Rs 2,625 crore during the quarter under review from Rs 2,370 crore in the same period last year, IIFL Finance said in a regulatory filing. Interest income of the bank rose to Rs 2,472 crore from Rs 2,198 crore in the first quarter of previous year. Expenses also increased to Rs 1,034 crore from Rs 888 crore. The asset quality deteriorated with gross non-performing assets (NPAs) rising to 2.25 per cent from 1.8 per cent at the end of June 2023. Net NPAs remained flat at 1.1 per cent of ..

Shree Cement Q1FY25 results: Net profit down 51.3% at Rs 278.45 cr

Bangur family promoted Shree Cement Ltd on Tuesday reported a decline of 51.31 per cent in its consolidated net profit to Rs 278.45 crore for the first quarter ended June 2024. The company had posted a net profit of Rs 571.94 crore in the April-June period a year ago, according to a regulatory filing from Shree Cement Ltd (SCL). However, its revenue from operations was up 1.73 per cent to Rs 5,123.96 crore during the quarter under review, as against Rs 5,036.65 crore in the corresponding period of the preceding fiscal. Total expenses of SCL increased 10.05 per cent to Rs 4,957.24 crore in the June quarter. SCL's total income rose 1.12 per cent to Rs 5,263.09 crore in the June quarter. Shree Cement is the third largest cement-making firm, owning brands such as Roofon, Bangur Power, Shree Jung Rodhak, Bangur Cement and Rockstrong. Shares of Shree Cement Ltd on Tuesday were trading at Rs 519.60 apiece on BSE, up 1.82 per cent from the previous close.

Cummins India Q1 results: PAT up 31% at Rs 463 cr on high generator demand

Higher sales in its engines segment, which includes power generator sets, boosted overall sales by 5 per cent to Rs 2,916 cr

Raymond Q1 results: Net profit rises 27% to Rs 57.04 cr from operations

Raymond Ltd on Tuesday reported a 26.7 per cent increase in consolidated net profit from continuing operations at Rs 57.04 crore in the first quarter ended June 2024. The company had posted a consolidated net profit of Rs 45.02 crore from continuing operations in the same quarter last fiscal, Raymond Ltd said in a regulatory filing. Revenue from continuing operations in the first quarter stood at Rs 937.65 crore as against Rs 473.37 crore in the year-ago period, it added. During the quarter ended June 30, 2023, a scheme of demerger of the lifestyle business of Raymond Ltd into Raymond Lifestyle Ltd was accorded board approval. The demerger of the lifestyle business was completed on June 30, 2024, the company said, adding the listing of Raymond Lifestyle Ltd is expected in the second quarter of this year. The main business of Raymond Ltd now includes real estate and engineering businesses. "Our real estate business continues to expand its portfolio through the JDA (joint developmen

Uber's Q2 revenue beats Wall Street estimates on ride-sharing demand

Improvements in airport rides and initiatives such as Uber Shuttle, discounted subscriptions for students and pre-scheduled shared rides also helped drive bookings, Uber CEO Khosrowshahi added

3M India Q1 results: Net profit jumps 22% to Rs 157 cr as expenses ease

Total expenses declined 4 per cent during the reported quarter, primarily due to a decrease in employee benefit expenses and depreciation charges

Bajaj Electricals Q1FY25 results: Net profit falls 25% to Rs 28.1 cr

Bajaj Electricals results fall short of expectations in first-quarter, hurt by dampened demand for kitchen appliances and price erosion in key lighting segment

ONGC Q1 FY25 results: Net profit declines 15% to Rs 8,938.10 crore

India's largest crude oil and natural gas producer wrote off Rs 1,669.73 crore cost incurred in unsuccessful survey and drilling of wells to find oil and gas

BEML Q1 results: Net loss narrows to Rs 70 cr, income rises to Rs 631 cr

Defence PSU BEML on Monday reported a narrowing of its consolidated net loss to Rs 70.47 crore for the quarter ended on June 30, 2024. The company had posted a consolidated net loss of Rs 75.01 crore in the year-ago period, BEML said in a filing to BSE. The consolidated income of the company during the April-June period rose to Rs 634.61 crore over Rs 5,78.11 crore in the corresponding quarter of the previous fiscal, the filing said. BEML Ltd is a diversified company supplying products, services and support to defence and aerospace, mining and construction and rail and metro.

Tata Chemicals Q1FY25 results: PAT down 72% at Rs 150 cr on lower income

Tata Chemicals on Monday reported a 72 per cent decline in its consolidated net profit to Rs 150 crore for the first quarter of this fiscal year. Its net profit stood at Rs 532 crore in the year-ago period. Total income also declined to Rs 3,836 crore in the April-June period of 2024-25 from Rs 4,267 crore in the corresponding period of the previous year, according to a regulatory filing. Total expenses increased to Rs 3,621 crore from Rs 3,527 crore during the period under review.

Bharti Hexacom Q1 results: PAT almost doubles to Rs 511 cr, revenue up 14%

Telecom operator Bharti Hexacom, which operates under the Airtel brand, reported over two-fold jump in its profit to Rs 511.2 crore in the first quarter ended on June 30, 2024, compared to Rs 253.2 crore in the same period a year ago. Total revenues of Bharti Hexacom increased by 14 per cent on a year-over-year basis to Rs 1,910.6 crore during the reported quarter from Rs 1,681.7 crore a year ago. Mobile revenues grew by 12.9 per cent Y-o-Y on the back of improved realisation and sustained customer additions. The Average revenue per user (ARPU), a key matrix to determine telecom operators' growth, for the quarter increased to Rs 205 from Rs 194 a year ago driven by continued mix improvement and focus on quality acquisitions. "We added 2.8 million smartphone customers to our network over last year, an increase of 16.3 per cent YoY. We continue to deliver industry-leading ARPU along with growing average data usage per customer at 25.7 GB per month. We rolled out 268 network towers an

Tamilnad Mercantile Bank Q1 results: Net profit rises 9.9% to Rs 287.29 cr

Over century-old private sector Tamilnad Mercantile Bank has recorded a 9.97 per cent rise in its net profit for the April-June 2024 quarter at Rs 287.29 crore on account of rise in interest income. The Tamil Nadu-based bank had registered a net profit of Rs 261.23 crore during the corresponding quarter of last year. For the financial year ending March 31, 2024 the net profit stood at Rs 1,072.03 crore. Total income during the April-June 2024 quarter went up to Rs 1,046.03 crore from Rs 942.98 crore registered in the year ago period. For the financial year ending March 31, 2024 the total income stood at Rs 5,492.85 crore. According to a press release, the bank's deposits rose to Rs 49,188 crore during the April-June 2024 quarter, from Rs 47,008 crore registered in the same quarter of last year. The advances of the bank has increased to Rs 40,853 crore with a growth of 10 per cent year-on-year basis. The Net Interest Income stood at Rs 567 crore for the April-June 2024 quarter, a

Utkarsh Small Finance Bank Q1 results: Net profit jumps 28% to Rs 137 cr

Utkarsh Small Finance Bank on Saturday posted a 28 per cent increase in its profit at Rs 137 crore in the first quarter ended June 30. The bank had earned a net profit of Rs 107 crore in the same quarter a year ago. Total income increased to Rs 1,071 crore during the quarter under review against Rs 812 crore in the same period last year, the bank said in a regulatory filing. The interest income of the bank rose to Rs 966 crore as against Rs 720 crore in the first quarter of previous year. As regards asset quality, gross Non-Performing Assets (NPAs) of the bank declined to 2.78 per cent of the gross loans by the end of June 2024 from 3.13 per cent a year ago. Similarly, net NPAs came down to 0.26 per cent from 0.33 per cent at the end of the first quarter of the previous fiscal. The provision coverage ratio, including floating provision, was 91 per cent as on June 30, 2024.

Rane Holdings Q1 result: PAT up 61.2% at Rs 19.5 cr, revenue at Rs 837.4 cr

Rane Holdings Ltd, the holding company of the diversified conglomerate Rane Group has reported a 61.2 per cent rise in its profit after tax for the April-June 2024 quarter at Rs 19.5 crore. The city-headquartered company had registered a profit after tax of Rs 12.1 crore during the corresponding quarter of last year. Total revenue during the quarter under review fell by 6.71 per cent to Rs 837.4 crore, from Rs 897.7 crore registered in the year ago period. The Earnings Before Interest, Taxes, Depreciation and Amortisation (EBITDA) stood at Rs 79.8 crore for the April-June 2024 quarter as against Rs 80.9 crore registered year ago. EBITDA margin during the June-quarter was 9.5 per cent as against 9 per cent recorded in the same quarter of last year. Revenue from the domestic original equipment (OE) customers grew 9 per cent during the quarter under review supported a strong growth in the passenger vehicle segment. Revenues from international customers predominantly decreased by 17 p

Eveready Industries Q1 results: PAT rises 18% to 29.3 cr, revenue dips 4%

Battery and flashlights maker Eveready Industries India Ltd on Saturday reported an increase of 18.1 per cent in its consolidated net profit at Rs 29.36 crore in the first quarter ended June 2024. The company had posted a net profit of Rs 24.86 crore in the April-June period a year ago, according to a regulatory filing from the Burman family promoted firm. However, its revenue from operations was down 3.9 per cent to Rs 349.37 crore during the quarter under review. The revenue was at Rs 363.57 crore in the year-ago period. "PAT was higher by 18.1 per cent over Q1 of last year mirroring the strong operating trend for the quarter," said Eveready Industries in its earnings statement. Total expenses of Eveready Industries has decreased 6.48 per cent to Rs 314.18 crore in the June quarter. Eveready Industries' total income in the June quarter was down 4.6 per cent to Rs 349.59 crore. "Revenue growth for the quarter was contained by several factors, including a high base effect, slower

JK Tyre Q1 result: PAT rises 37% to Rs 211 cr, total income at Rs 3,655 cr

JK Tyre & Industries on Saturday reported a 37 per cent year-on-year increase in consolidated net profit at Rs 211 crore in the first quarter ended June 30, 2024. The tyre maker has reported a net profit of Rs 154 crore for the April-June quarter of last fiscal. Total income declined to Rs 3,655 crore for the period under review from Rs 3,726 crore in the June quarter of FY24, JK Tyre said in a regulatory filing. "We continue to deliver profitable growth with a year-on-year increase in operating margins," JK Tyre Chairman and Managing Director Raghupati Singhania said. The company's strategic thrust on premiumisation and pricing has helped it manage the raw material cost pressures, he added. Although overall revenues were marginally lower due to decline in the OEM segment, this was largely offset by increased exports, Singhania stated. During the quarter, exports recorded healthy double-digit growth, despite geo-political disruptions and rising ocean freight, he said. "Looking .

Dhanuka Agritech Q1 results: Net profit rises 48% to Rs 48.9 crore

Agrochemicals company Dhanuka Agritech on Friday reported a 48.45 per cent growth in profit after tax to Rs 48.90 crore during the June 2024 quarter. The company's profit after tax (PAT) stood at Rs 32.94 crore during the corresponding quarter of the previous financial year, Dhanuka Agritech said in a statement. Its revenue from operations grew 33.73 per cent during the quarter under review to Rs 493.58 crore compared to Rs 369.07 crore in the year-ago period. "The year has started on a positive note and we have witnessed decent demand for all our product categories during the first quarter. "The timely arrival of the monsoon and dwindling inventory levels have contributed to increased orders from the distribution network, setting a positive trajectory for the company," Dhanuka Agritech Vice Chairman and Managing Director Mahendra Kumar Dhanuka said. The sowing season is in full swing in July and the sowing acreages for major crops are expected to be higher in the ongoing season,

MedPlus Health Q1 results: Net profit surges 3.8 times to Rs 14.36 crore

Growth in the retail pharmaceutical sector has improved and is expected to sustain, according to analysts, as an improvement in medical infrastructure has resulted in better access to these platforms

Titan Q1 results: Net profit declines 5% to Rs 715 crore, misses estimates

The Tata group-owned company reported a 5% fall in consolidated profit to Rs 715 crore ($85.4 million) in the quarter ended June 30, from Rs 756 crore an year ago

NIIT Q1FY25 results: PAT rises to Rs 7.75 cr, revenue up 32% at Rs 82.47 cr

Talent development company NIIT on Friday reported a three-fold rise in its consolidated net profits at Rs 7.75 crore in the June 2024 quarter. It had reported a net profit of Rs 2.18 crore in the year-ago period. Revenue from operations for the quarter under review came in at Rs 82.47 crore, up 31.86 per cent from Rs 62.54 crore in the corresponding quarter of the previous fiscal. Seen sequentially, revenue grew 10.93 per cent, but net profit declined 30.5 per cent. "The growth was driven by expansion in number of customers across private banks, GCCs, Tier II GSIs and large Indian enterprises. All round growth in the business led by 94 per cent YoY growth in BFSI and other programmes and technology programmes up 13 per cent YoY. BFSI & other programmes contributed 34 per cent of revenue in the quarter," the company said in a statement. NIIT vice chairman and managing director Vijay K Thadani, during the company's earnings press conference, said the revenue is in harmony with ...