Page 13 - Corporate Earnings

IDFC First Bank Q1 results: Net profit declines by 11% to Rs 680 cr

IDFC First Bank on Saturday reported an 11 per cent decline in net profit at Rs 680 crore in the April-June quarter. The bank had posted a net profit of Rs 765 crore in the year-ago period. Total income in the first quarter of the current fiscal rose to Rs 10,408 crore as against Rs 8,282 crore, IDFC First Bank said in a regulatory filing. The lender's interest income also increased to Rs 8,789 crore from Rs 6,868 crore in the same quarter a year ago. The gross Non-Performing Assets (NPAs) declined to 1.9 per cent of the gross advances by June 2024 from 2.17 per cent in the same quarter a year ago. The net NPA too declined to 0.59 per cent as against 0.70 per cent in the same period of the previous year.

J&K bank's profit rises 27% to Rs 415 cr in Apr-Jun quarter on high income

J&K Bank on Saturday reported a 27 per cent rise in net profit to Rs 415 crore in the April-June quarter of 2024-25 compared to the year-ago period. The bank had posted a net profit of Rs 326 crore in the April-June period of the previous year. Total income in the first quarter of the current fiscal rose to Rs 3,188 crore as against Rs 2,885 crore, J&K Bank said in a filing. The lender's interest income also increased to Rs 2,994 crore from Rs 2,657 crore in the same quarter a year ago. The bank's net interest income (NII) grew by 7 per cent to Rs 1,369 crore in the first quarter of current financial year. The gross Non-Performing Assets (NPAs) declined to 3.91 per cent of the gross advances by June 2024 from 5.77 per cent in the same quarter a year ago. The net NPA too declined to 0.76 per cent as against 1.39 per cent in the same period of the previous year. The capital adequacy ratio of the bank improved to 15.07 per cent at the end of June compared to 14.83 per cent in the

Equitas Small Finance Bank Q1 result: Net profit dips to Rs 25.75 cr

Private sector Equitas Small Finance Bank has reported a dip in its net profits for the April-June 30, 2024 at Rs 25.75 crore. The bank had registered a profit after tax of Rs 191.20 crore registered in the year ago period. For the year ending March 31, 2024 the net profit of the bank stood at Rs 798.96 crore. Total income during the quarter under review grew to Rs 1,709.65 crore, as compared to Rs 1,425.32 crore registered in the same period of last year. For the year ending March 31, 2024 the total income of the bank stood at Rs 6,285.07 crore. In a statement on Saturday, the bank said the decline in profit after tax for the quarter under review, was due to 'floating provision of Rs 180 crore to strengthen the Provisioning Coverage Ratio of the bank'. In order to strengthen PCR, Bank has made additional provision in the form of floating provision of Rs 180 crore during the quarter. PCR improved to 70.29 per cent in Q1FY'25 from 56.06 per cent (during the same quarter of last year

Star Housing Finance reports 70% revenue growth in April-June quarter

Semi-urban and rural-focused home finance company Star Housing Finance Ltd (Star HFL) has reported a 70 per cent jump in its revenue for the April-June quarter on strong growth in interest income and commission fee. Total revenue rose by 70 per cent to Rs 20.96 crore for the April-June quarter of 2024-25 compared to Rs 12.29 crore in the year-ago period, the BSE-listed company said in a release. Interest income rose to Rs 18.08 crore in the first quarter of FY25 against Rs 11.20 crore in April-June 2023-24. Assets under management soared by 73.55 per cent to Rs 471.41 crore in the June quarter over the year-ago period. Disbursements were at Rs 61.23 crore in the quarter under review. Profit after tax rose by 94 per cent to Rs 3.02 crore in the quarter against Rs 1.55 crore in the year-ago period.

NTPC Q1FY25 results: Net profit up 12% at over Rs 5,500 cr on higher income

State-owned NTPC on Saturday posted 12 per cent rise in consolidated net profit at Rs 5,506.07 crore for the June quarter, mainly on the back of higher income. In the year-ago period, its net profit stood at Rs 4,907.13 crore, the company said in an exchange filing. Total income rose to Rs 48,981.68 crore from Rs 43,390.02 crore in the same period a year ago. Expenses stood at Rs 41,844.18 crore against Rs 36,963.61 crore a year ago. NTPC's consolidated power generation rose to 114 billion units (BUs) in Q1 FY25 from 104 billion units in Q1 FY24. On standalone basis, the company reported a net profit of Rs 4,511 crore, around 11 per cent higher as against Rs 4,066 crore in the year-ago period. Total income was at Rs 45,053 crore as against Rs 39,681 crore in April-June 2023-24. The company's standalone power generation was at 98 billion units, higher from 88 billion units in the year-ago period. NTPC coal stations achieved a plant load factor of 80.39 per cent during Q1 FY25 as

REC Q1FY25 results: PAT grows 16.57% to Rs 3,460.19 cr on high revenue

State-owned REC on Saturday posted a 16.57 per cent rise in consolidated net profit to Rs 3,460.19 crore for the June quarter, mainly on the back of higher revenues. In the year-ago period, its net profit stood at Rs 2,968.05 crore, the company said in an exchange filing. Total income rose to Rs 13,092.44 crore from Rs 11,108.16 crore in the same period a year ago. Expenses stood at Rs 8,743.22 crore against Rs 7,386.99 crore a year ago. The board of directors also approved an interim dividend of Rs 3.50 per equity share of Rs 10 each for the financial year 2024-25. "The Board has also taken note of striking off the name of Khavda II-D Transmission a wholly-owned subsidiary company of REC Power Development & Consultancy Limited ("RECPDCL"), a wholly-owned subsidiary of REC, from the Registrar of the Companies,' the filing said. The Company stands dissolved and ceased to be the subsidiary of RECPDCL & REC in terms of provisions of the Companies Act. 2013, it said. REC, under ..

Jupiter Wagons Q1 FY25 results: Net profit rises 40% to Rs 89 crore

Leading manufacturer of railway wagons, wagon components and castings Jupiter Wagons Ltd on Friday posted a 40.3 per cent rise in profit after tax (PAT) to Rs 89.23 crore for the June quarter. The company had posted a consolidated PAT of Rs 63.60 crore in the year-ago period. The company's income during the April-June period increased to Rs 902.19 crore, over Rs 755.41 crore in the year-ago period, Jupiter Wagons Ltd (JWL) said in a statement. "We are excited to report outstanding results for Q1FY25... Despite challenges from the general elections and peak summer, we maintained a strong consolidated EBITDA margin of 15.5 per cent. Our wagon business remains crucial, contributing 80 per cent of revenue. We are actively diversifying into sectors such as railway components, commercial vehicles, brake discs, brake systems and containers," it said. JWL is a provider of comprehensive mobility solutions, with diverse offerings across freight wagons, locomotives, commercial vehicles, ISO

Cipla Q1 results: Net profit up 18% at Rs 1,177.64 cr, revenue rises 5.8%

Pharma major eyes new therapy areas to fuel future growth

Piramal Pharma Q1FY25 results: Net loss narrows at Rs 88.64 crore

Piramal Pharma Ltd on Friday reported a narrowing of consolidated net loss at Rs 88.64 crore in the first quarter that ended June 30, 2024, on the back of higher sales. The company had posted a consolidated net loss of Rs 98.58 crore in the same quarter last fiscal, Piramal Pharma said in a regulatory filing. Consolidated revenue from operations in the quarter under review stood at Rs 1,951.14 crore as compared to Rs 1,748.85 crore in the year-ago period, the company added. Total expenses in the first quarter were higher at Rs 2,038.16 crore as compared to Rs 1,908.66 crore in the same period a year ago. "We have had a good start to the financial year with a steady all-round performance...," Piramal Pharma Chairperson Nandini Piramal said. The company's CDMO (Contract Development and Manufacturing Organisation) business continues to witness sustained order inflows, especially for on-patent commercial manufacturing, she added. "We are also seeing good demand for our differentiate

PowerGrid Q1 results: Net profit up 3.52% at Rs 3,723.92 cr as income rises

Power Grid Corporation of India (PowerGrid) on Friday posted a 3.52 per cent rise in its consolidated net profit to Rs 3,723.92 crore for the June quarter, mainly on account of higher income. It had clocked Rs 3,597.16 crores profit for the year-ago period, the company said in an exchange filing. During the quarter, its total income rose to Rs 11,279.59 crore from Rs 11,257.60 crore in the April-June quarter of the preceding 2023-24 fiscal. The company also reduced its expenses to Rs 6,643.07 crore from Rs 6,688.51 crore in the same quarter a year ago.

SBI Card Q1 results: Net profit flat at Rs 594 cr on higher impairment

SBI Cards and Payment Services on Friday reported a net profit flat at Rs 594 crore in the first quarter of the current fiscal due to a rise in delinquencies. The SBI-promoted card issuance company (SBI Card) reported a net profit of Rs 593 crore in the April-June period of the previous fiscal. The total income during the quarter rose to Rs 4,483 crore against Rs 4,046 crore a year ago, the company said in a regulatory filing. Segment-wise, the interest income in the first quarter increased to Rs 2,243 crore from Rs 1,804 crore a year ago, while income from fees and commission remained almost flat at Rs 2,115 crore, it said. The company's gross non-performing assets rose to 3.06 per cent of gross advances as of June 30, against 2.41 per cent a year ago. Similarly, net non-performing assets increased to 1.11 per cent from 0.89 per cent in the same quarter of FY24. As a result, impairment losses and bad debt expenses increased by 53 per cent at Rs 1,101 crore in the first quarter .

KingsCraft eyes Rs 50 cr revenue from new e-commerce platform in FY25

Online fashion retail brand KingsCraft Online Brands on Friday said it is eyeing Rs 50 crore revenue from its newly launched e-commerce platform Underrated Club in this fiscal. The Pune-based company, which started operations this year, also said it is looking to venture into offline segments as well with plans to set up 50 fashion retail stores across Tier-I cities under the new platform by March next year. Bootstrapped with an investment of Rs 8 crore, the company has strategically positioned Underrated Club as a key player in the affordable luxury streetwear segment, it said. "At URC (Underrated Club), we are redefining streetwear by combining innovation and sustainability," Abhishek Teri, Co-founder of Underrated Club, said. Underrated Club is set to expand its reach through a robust online presence and partnerships with plans to tie up with leading e-commerce platforms and establish a physical presence through retail partnerships, pop-up stores, and flagship stores in key ...

ESAF Small Finance Bank Q1 results: Net profit falls 52% to Rs 63 cr

ESAF Small Finance Bank on Friday reported 52 per cent decline in June quarter net profit at Rs 63 crore due to increase in bad loans. The Kerala-based lender had earned a net profit of Rs 130 crore in the year-ago period. However, total income increased to Rs 1,138 crore from Rs 992 crore a year ago, ESAF Small Finance Bank said in a regulatory filing. Interest income grew to Rs 1,022 crore during the period under review, from Rs 899 crore a year ago. The bank's asset quality worsened with Gross Non-Performing Assets (NPAs) surging to 6.61 per cent of gross advances as of June 30, 2024, from 1.65 per cent by the end of first quarter of the previous fiscal. Net NPAs also rose to 3.22 per cent of the advances, from 0.81 per cent at the end of first quarter last year. As a result, provisions and contingencies increased to Rs 169 crore from Rs 129 crore earmarked during the same quarter a year ago. However, the capital adequacy ratio of the bank improved to 23.46 per cent, as compa

LatentView Analytics reports Q1 net profit of Rs 38.92 cr, revenue up 21%

Digital analytics consulting and solutions provider LatentView Analytics has recorded a net profit of Rs 38.92 crore, for the April-June 2024 quarter, the company said on Friday. The city-based company had registered a net profit of Rs 32.85 crore during the corresponding quarter last year. For the year ending March 31, 2024 the net profit of the company stood at Rs 158.64 crore. Total income during the quarter under review grew to Rs 196.31 crore from Rs 165.56 crore registered in the same period a year ago. The total income for the year ending March 31, 2024 is Rs 714.38 crore. Commenting on the financial performance, company Chief Executive Officer Rajan Sethuraman said, "We have started the fiscal year on a positive note with a strong performance. For Q1FY25, our revenue grew by 21.1 per cent on a year-on-year basis and 4.2 per cent sequentially. Our continued growth momentum is a testament to the strong execution by our team." LatentView Analytics Chief Financial Officer Raja

Cholamandalam Investment and Finance Q1 results: PAT up 29.7% at Rs 942 cr

Cholamandalam Investment and Finance Company has reported a 29.7 per cent growth in its profit after tax for the April-June 2024 quarter at Rs 942 crore. The company, which is the financial services arm of diversified conglomerate Murugappa Group, had registered a profit after tax of Rs 726 crore in the corresponding quarter of last year. Total income during the quarter under review grew by 40.9 per cent to Rs 5,828 crore, from Rs 4,134 crore registered in the corresponding quarter of last year. Disbursements made during the quarter ending June 30, 2024, grew by 22 per cent to Rs 24,332 crore, as compared to Rs 20,015 crore registered in the same period of last year. Assets under management during the quarter under review rose to Rs 1,68,832 crore, from Rs 1,22,755 crore registered in the same period of last year. In a statement issued on Friday, the company said it continues to hold a strong liquidity position of Rs 14,767 crore as a cash balance as of the end of June 2024. The .

KFin Technologies Q1 results: Profit after tax jumps 57% to Rs 68 cr

Financial services firm KFin Technologies on Friday reported 57 per cent jump in profit after tax (PAT) at Rs 68.07 crore for June quarter 2024-25 driven by strong performance across business segments. The company had posted a PAT of Rs 43.38 crore for the same quarter a year ago, KFin Technologies said in a statement. Revenue from operations rose 31 per cent to Rs 237.56 crore in June quarter 2024-25 from Rs 181.5 crore in the year-ago period. "Throughout the quarter, we achieved significant milestones across our diverse business segments, marked by substantial new client wins, growth, and enhanced profitability. "Notably, we gained significant traction in new contract sign ups in the fast-growing business lines of global fund services (international), alternatives and wealth solutions, fund administration solutions, and technology solutions," said Sreekanth Nadella, Managing Director and CEO, KFin Technologies. The company provides SaaS based transaction management, channel ...

Bandhan Bank Q1FY25 results: Net profit increases 47% to Rs 1,063 crore

During the quarter, the bank's total income increased to Rs 6,063 crore against Rs 4,908 crore a year ago, Bandhan Bank said in a regulatory filing

IndusInd Bank Q1FY25 results: Net profit rises 2% to Rs 2,171 crore

Private sector IndusInd Bank on Friday posted a marginal 2 per cent rise in net profit at Rs 2,171 crore for the first quarter ended June 30. The lender had earned a net profit of Rs 2,124 crore in the year-ago period. During the quarter, the bank's total income increased to Rs 14,988 crore, as against Rs 12,939 crore a year ago, IndusInd Bank said in a regulatory filing. Interest income grew to Rs 12,547 crore during the period under review, from Rs 10,730 crore in the corresponding quarter a year ago. On the asset quality side, the bank's Gross Non-Performing Assets (NPAs) worsened to 2.02 per cent of gross advances as of June 30, 2024, from 1.94 per cent by the end of first quarter of the previous fiscal. Net NPAs also rose to 0.60 per cent of the advances, from 0.58 per cent at the end of first quarter of last year. As a result, provisions other than tax and contingencies rose to Rs 1,050 crore, as against Rs 992 crore earmarked during the same quarter a year ago. The Capita

IndiGo Q1 FY25 results: Net profit declines 11.7% on higher expenses

India's largest airline by market share posted a profit of Rs 2,727 crore ($326 million) for the three months ending June 30, compared with Rs 3,087 crore a year earlier

Shriram Finance Q1 result: Net profit up 18% at Rs 1,981 cr on loan demand

Shriram Finance's earnings were boosted by higher commercial vehicle sales - which form its biggest financing segment, along with strength in farm equipment and small business credit segments