Page 12 - Corporate Earnings

Granules India PAT surges to Rs 135 cr in June quarter

Granules India on Tuesday said its profit after tax rose nearly three-fold year-on-year to Rs 135 crore for the first quarter ended June 30, 2024. The drug maker had reported a profit after tax (PAT) of Rs 48 crore in the April-June quarter of last fiscal. Revenue from operations rose to Rs 1,180 crore for the period under review from Rs 985 crore in the year-ago period, the Hyderabad-based firm said in a regulatory filing. "With our robust quarterly performance, we are back on our planned trajectory after a few setbacks last year," Granules India Chairman & Managing Director Krishna Prasad Chigurupati said. The first quarter performance highlights continued growth in the formulation segment, strong North America business, and product diversification, he added. Shares of the company on Tuesday ended 4.15 per cent up at Rs 587.80 apiece on the BSE.

Mindspace REIT Q1FY25 results: Net operating income up 9 % to Rs 496 cr

Mindspace Business Parks REIT on Tuesday reported a 9 per cent increase in net operating income to Rs 496 crore in the first quarter of this financial year and declared distribution of nearly Rs 300 crore to unitholders for the latest April-June period. According to a regulatory filing, the company's revenue from operations rose 11 per cent to Rs 620 crore during April-June 2024, from Rs 560 crore in the year-ago period. Net Operating Income (NOI) increased 9 per cent to Rs 496 crore, from Rs 455 crore a year-ago, while distribution grew 5 per cent in the reported quarter to Rs 299 crore, from Rs 285 crore in the year-ago period. "We have had yet another great quarter, renting out over 1 million square feet and achieving a remarkable committed occupancy of 91.1 per cent. Our NOI grew by a robust 9.2 per cent driven by our rising rents and growing occupancy," Ramesh Nair, Chief Executive Officer, K Raheja Corp Investment Managers Pvt Ltd, Manager to Mindspace REIT said. This healthy

Indus Towers Q1 results: Net profit rises 42% to Rs 1,926 cr, revenue up 4%

Telecom infrastructure major Indus Towers on Tuesday posted a 42 per cent increase in consolidated profit to Rs 1,925.9 crore in the first quarter ended June 30, 2024. The company had reported a profit of Rs 1,347.9 crore in the same period a year ago, Indus Towers said in a regulatory filing. Indus Towers consolidated revenue from operations grew by about 4 per cent to Rs 7,439.4 crore during the reported quarter, from Rs 7,132.4 crore in the June 2023 quarter, the filing added. During the quarter ended June 30, 2024, Vodafone Group Plc, through its indirect wholly-owned subsidiaries, sold 17.98 per cent of its shareholding in Indus Towers. Bharti Airtel Ltd acquired approximately 27 million equity shares representing 1 per cent equity share capital of the company. Accordingly, Bharti Airtel Ltd held 48.95 per cent shares and Vodafone Group held 3.06 per cent stake in the company as on June 30, 2024. Both Bharti Airtel Ltd and Vodafone continue to be the promoters of the ...

TVS SCS Q1FY25 results: Net profit at Rs 7.5 cr on growth in revenue

During the quarter, the company made significant strides by securing key new business wins, including partnerships with global OEMs in the commercial vehicle sector in both India and Singapore

State-owned non-life insurers report Rs 7,558 cr net profit in FY24

The government had infused capital worth Rs 17,450 crore in three years from FY20 to FY22 to restore solvency levels to control level

Torrent Power Q1 result: Net profit up 88% at Rs Rs 972 cr on robust demand

Heatwaves and increasing economic activity have resulted in India's electricity generation growing at an average of about 8 per cent annually following the pandemic

Nexus Select Trust Q1 results: Net operating income up 7% at Rs 412.7 cr

Nexus Select Trust, a listed REIT backed by retail real estate, on Tuesday reported 7 per cent increase in net operating income to Rs 412.7 crore for June quarter and announced plans to raise up to Rs 1,700 crore through issue of commercial papers and debentures. In a regulatory filing, the company said it achieved retail Net Operating Income (NOI) of Rs 371.9 crore in April-June period of this fiscal, up 8 per cent from the year-ago period. Nexus Select Trust declared distribution of Rs 325.3 crore or Rs 2.147 per unit for the first quarter of 2024-25. "Signed two term sheets for acquisition of 0.8 million square feet retail assets; commenced due diligence. Overall, 5 assets under acquisition including the acquisitions announced in the past," the company said. Nexus Select Trust said the board has also approved raising of funds by issuing listed, rated, redeemable, commercial papers, for an aggregate principal amount of up to Rs 500 crore and also non-convertible debentures up to

Jindal Stainless Q1FY25 results: Net profit down 13.11% to Rs 648.06 crore

In a statement, Jindal Stainless managing director Abhyuday Jindal said that it was an enabling resolution to "prepare for, among other things, organic and inorganic growth opportunities"

Castrol India results: Net profit rises 3% to Rs 232 cr in June quarter

Lubes maker Castrol India Limited reported a marginal 3 per cent growth in profit after tax (PAT) to Rs 232 crore for the June 2024 quarter. The company had posted a PAT of Rs 225 crore in the April-June period of 2023. The revenue from operations during the second quarter rose 5 per cent to Rs 1,398 crores compared to Rs 1,334 crore in the corresponding quarter of the previous year, Castrol India said. Castrol India follows the January-December period of the year for financial reporting. "Our balanced focus on volumes and margins, along with our commitment to innovation and brand building, has driven revenue growth," Deepesh Baxi, Chief Financial Officer at Castrol India Limited, said. Looking ahead, the ongoing innovations in products and services, coupled with strategic brand investments, will sustain our growth momentum, he said. "Potential stabilisation of input costs in the latter half of the year could signal a positive trend for the industry," Baxi added.

Exide Q1FY25 results: PAT rises 16% to Rs 280 cr, revenue up at Rs 4,313 cr

Battery maker Exide Industries on Tuesday said its profit after tax increased 16 per cent to Rs 280 crore for the first quarter ended June 30, 2024. The company had reported a profit after tax of Rs 242 crore in the April-June quarter of the preceding fiscal. Its revenue from operations rose to Rs 4,313 crore for the June quarter compared to Rs 4,073 crore in the year-ago period, Exide Industries said in a regulatory filing. "Both automobile and industrial verticals have delivered growth in the current quarter, and near-term drivers are promising," Exide Industries MD and CEO Avik Roy said. Despite rising raw material prices, cost optimisation initiatives led to lower cost of production and gross margin improvement, he added. "In our lithium-ion project, onsite construction and installation of production line equipment is currently underway," Roy said. Shares of Exide Industries ended 3.54 per cent down at Rs 532 apiece on the BSE.

Force Motors Q1 results: Net profit jumps 69% to Rs 116 cr on high demand

Force, which manufactures commercial vehicles (CV), including vans, school buses and ambulances, reported a 27 per cent rise in revenue to Rs 1,885 cr during q1, driven by a 10 per cent jump in sales

Indian Oil Q1FY25 results: PAT plunges 81% to Rs 2,643 cr on low margins

IOC's average gross refining margin - the profit from making refined products from one barrel of oil - fell to $6.39 per barrel from $8.34 per barrel a year ago

Colgate Palmolive India Q1FY25 results: Net profit up 33% at Rs 364 cr

FMCG major Colgate-Palmolive India on Monday reported 33 per cent rise in net profit at Rs 363.98 crore for the first quarter ended June 2024, helped by a demand pickup and good performance of products. The oral hygiene product maker had posted a net profit of Rs 273.68 crore in April-June FY24, according to a regulatory filing from Colgate-Palmolive India Ltd (CPIL). Sales were up 13 per cent to Rs 1,485.76 crore during the quarter under review as against Rs 1,314.73 crore in the corresponding period a year ago. "The quarter witnessed continued demand pickup in rural markets outpacing growth in urban markets for the second quarter in a row. Led by this and good all-round performance of toothpaste, toothbrush and personal care, domestic revenues grew by 12.8 per cent year-on-year for the quarter,"said CPIL in its earning statement. Total expenses in June quarter was up 8.46 per cent to Rs 1,030.86 crore. Total income, which includes other income also, was at Rs 1,520.11 crore, up

Adani Total Gas Q1 results: PAT up 15% to Rs 172 cr on strong CNG demand

The Adani group company's consolidated profit rose 15% to Rs 172 crore (around $21 million) in the three months ended June 30, marking its sixth straight rise in quarterly profit

Indian Bank Q1 FY25 results: Net profit rises 41% to Rs 2,403 crore

Its operating profit improved by 9 per cent year-on-year (Y-o-Y) to Rs 4,502 crore in June 2024 from Rs 4,135 crore in June 2023

Strides Pharma reports profit of Rs 68.3 crore in Q1, revenue up 16%

As per the company statement, US revenues for Strides in Q1 FY25 stood at a quarter-high of $70 million (about Rs 586 crore)

CSB Bank Q1 results: Net profit drops 14% to Rs 113 cr as provisions rise

The provisions for non-performing assets rose 273 per cent to Rs 20 crore from Rs 4 crore in Q1 FY24

Kalpataru Projects International Q1FY25 results: PAT falls 26% to Rs 84 cr

Kalpataru Projects International Ltd on Monday posted about 26 per cent decline in consolidated net profit to Rs 84 crore for the June 2024 quarter, dragged by higher expenses. It had clocked Rs 113 crore profit in the year-ago period, the company said in an exchange filing. The company's total income rose to Rs 4,609 crore from Rs 4,259 crore in April-June 2023-24. The expenses surged to Rs 4,472 crore from Rs 4,094 crore a year ago. KPIL is one of the largest specialised EPC companies engaged in power transmission and distribution, buildings and factories, water supply and irrigation, railways, oil and gas pipelines, urban mobility (flyovers and metro rail), highways and airports.

NDTV Q1 results: Loss widens to Rs 46.75 cr on higher production costs

Quarterly expenses were surged around 77%, with production costs, among broadcasters' biggest expenses, up 80% and marketing spends related to a newly-launched regional channel tripling

Indian Bank Q1 FY25 results: Net profit rises 41% to Rs 2,403 crore

State-owned Indian Bank on Monday posted a 41 per cent jump in its net profit to Rs 2,403 crore for the June 2024 quarter due to a decline in bad loans. The Chennai-based lender had earned a net profit of Rs 1,709 crore in the year-ago period. During the quarter, the bank's total income increased to Rs 16,945 crore against Rs 14,759 crore a year ago, Indian Bank said in a regulatory filing. Its interest income grew to Rs 15,039 crore during the period under review from Rs 13,049 crore in the corresponding quarter a year ago. On the asset quality side, the bank's gross non-performing assets (NPAs) improved to 3.77 per cent of gross advances as of June 30, 2024, from 5.47 per cent in the April-June quarter of the previous fiscal. The net NPAs also declined to 0.39 per cent of the advances from 0.70 per cent a year ago. As a result, provisions for bad loans declined to Rs 896 crore against Rs 930 crore earmarked during the same quarter a year ago. The capital adequacy ratio of the