Page 14 - Corporate Earnings

Ramkrishna Forgings Q1 result: PAT rises 3% to Rs 81 cr on higher income

Ramkrishna Forgings Ltd on Wednesday posted over 3 per cent rise in consolidated net profit to Rs 81 crore during the June quarter, on account of higher income. It had clocked Rs 78.52 crore profit for the period ended June 30, 2023, the company said in an exchange filing. The company's total income rose to Rs 1,013.98 crore from Rs 896.99 crore in the April-June period of the preceding 2023-24 fiscal. Expenses were at Rs 897.46 crore as against Rs 793.36 crore a year ago. In a separate statement, the company's MD Naresh Jalan said, "Our revenues on a standalone basis stood at Rs 868 crore, reflecting our strong market presence and operational efficiency. Our adjusted EBITDA was Rs 201 crore, yielding an impressive EBITDA margin of 23.1 per cent." In the quarter, the company received an order inflow amounting to Rs 1,679 crore, which is to be executed over a period of four years. The order book also includes an undercarriage business order from a metro car in the railway segment,

CG Power Q1 results: Net profit rises 21% to Rs 232.13 cr as sales increase

CG Power and Industrial Solutions Ltd on Wednesday reported a 21 per cent hike in its standalone profit after tax of Rs 232.13 crore for the April-June 2024 quarter. The company, part of the diversified conglomerate Murugappa Group, had registered a profit after tax of Rs 192.06 crore during the corresponding quarter of last year. For the financial year ending March 31, 2024 the standalone profit after tax stood at Rs 1,004.36 crore. Total standalone income during the quarter under review grew to Rs 2,139.76 crore from Rs 1,791.91 crore registered in the corresponding quarter of last year. For the financial year ending March 31, 2024 the standalone total income stood at Rs 7,760.80 crore. In a statement, the company said the aggregate sales for the quarter were higher at Rs 2,106 crore recording a growth of 19 per cent year-on-year. Margins were higher at 15.4 per cent of sales on account of higher realisations, favourable product mix and cost efficiencies in power ...

JK Paper Q1 results: Net profit declines 55% to Rs 140.79 cr as prices fall

JK Paper Ltd on Wednesday reported a 55 per cent decline in consolidated net profit to Rs 140.79 crore in the June 2024 quarter, hit by a fall in market prices coupled with a surge in wood cost. The company posted a consolidated net profit of Rs 312.56 crore in the corresponding period of the last fiscal, JK Paper said in a regulatory filing. Consolidated revenue from operations in the quarter under review stood at Rs 1,804.47 crore against Rs 1,663.97 crore in the year-ago period, it added. During the quarter, total expenses were higher at Rs 1,549.21 crore compared to Rs 1,238.34 crore in the year-ago period. "The results have been adversely impacted due to a significant drop in market prices coupled with a surge in wood cost compared to the corresponding quarter," JK Paper Chairman & Managing Director Harsh Pati Singhania said. The company, however, increased sales volume driven by higher utilisation in the packaging board business, he added. JK Paper said in order to mitigate

Trident Q1FY25 results: Textile firm's net profit slips 19.1% to Rs 73.9 cr

Textiles firm Trident Ltd on Wednesday reported a 19.1 per cent decline in its consolidated profit after tax to Rs 73.89 crore for the first quarter of FY25. The company had posted a consolidated profit after tax of Rs 91.34 crore in the April-June quarter a year ago, according to a regulatory filing from Trident. However, its revenue from operations increased 16.66 per cent to Rs 1,742.71 crore in the June quarter. It was Rs 1,493.71 crore a year ago. The total expenses in the June quarter rose 19.7 per cent to Rs 1,655.59 crore. Its revenue from the Yarn business was Rs 960.70 crore and Rs 615.34 crore from the towel business. Trident's revenue from the Bedsheets segment was Rs 357.84 crore, and Rs 248.38 crore from paper and chemicals. Its total income stood at Rs 1,757.58 crore in the June quarter, up 16.77 per cent. It was Rs 1,505.08 crore a year earlier. Shares of Trident Ltd on Wednesday settled at Rs 37.44 on BSE, up 1.22 per cent.

Welspun Living Q1FY25 results: Net profit rises 14% to Rs 185.95 cr

Home textiles major Welspun Living Ltd on Wednesday reported a 14.3 per cent increase in consolidated net profit to Rs 185.95 crore in the June 2024 quarter. The company posted a consolidated net profit of Rs 162.73 crore in the quarter last fiscal, Welspun Living said in a regulatory filing. Consolidated revenue from operations stood at Rs 2,536.49 crore compared to Rs 2,184.05 crore in the year-ago period, it added. Total expenses in the first quarter were higher at Rs 2,335.11 crore against Rs 1,998.65 crore in the corresponding period a year ago, the company said. Welspun Living said its board of directors at its meeting held on July 24, 2024, has approved a buyback proposal for purchase of over 1.26 crore paid equity shares of Re 1 each at a price of Rs 220 per share for an aggregate amount of not exceeding Rs 278.44 crore. "The domestic consumer business has shown resilience in the face of challenging demand scenario in the Indian retail market and continued to be the leadi

Aditya Birla Sun Life AMC Q1FY25 results: Net profit rises 28% to Rs 236 cr

Aditya Birla Sun Life AMC on Wednesday reported a 28 per cent rise in profit after tax to Rs 235.7 crore, its highest quarterly gain, for the three months ended June 2024. The asset management firm, part of Aditya Birla Capital, had posted a profit after tax (PAT) of Rs 184.6 crore in the same quarter of the preceding fiscal, according to a stock exchange filing. The company's revenue from operations rose 24 per cent to Rs 386.6 crore in the quarter under review from Rs 311.2 crore in the April-June quarter of the preceding fiscal (2023-24). ABSL AMC's assets under management stood at Rs 3.52 lakh crore at the end of the June 2024 quarter, reflecting a 19 per cent year-on-year growth. Founded in 1994, ABSL AMC is co-owned by Aditya Birla Capital and Sun Life (India) AMC Investments Inc. It is one of the leading asset managers in India, servicing around 9.4 million investor accounts with a pan-India presence across over 300 locations.

Bikaji Foods Q1 result: Net profit rises 40% to Rs 58.06 cr, revenue up 15%

Snacks manufacturer Bikaji Foods International Ltd on Wednesday reported a 40.2 per cent increase in its consolidated net profit to Rs 58.06 crore in the first quarter ended in June 2024. The company had posted a consolidated profit of Rs 41.41 crore in the April-June quarter a year ago, according to a regulatory filing from Bikaji Foods. Its revenue from operation was up 15.24 per cent to Rs 555.12 crore in the June quarter. It was at Rs 481.68 crore a year ago. Bikaji Foods reported volume growth of "16.2 per cent YoY, led by double-digit growth across categories," said an earning statement from the company. Total expenses of Bikaji Foods in the June quarter were up 16.08 per cent to Rs 501.32 crore. Its total income was at Rs 579.41 crore in the June quarter, up 18.8 per cent. "Our EBITDA for the quarter improved by 240 bps year-over-year, reaching 916 million, reflecting our commitment to operational efficiency and disciplined cost management," said Managing Director Deepak .

IndiGrid Q1 results: Net profit rises 28% to Rs 137 cr on higher income

Investment Manager to India Grid Trust (IndiGrid) on Wednesday posted a 28 per cent increase in net profit to Rs 136.9 crore during the June quarter, helped by higher income. It had clocked Rs 107 crore profit in the year-ago period, the company said in a statement. Its total income rose to Rs 873.3 crore during the first quarter of the ongoing fiscal year from Rs 654.5 crore a year earlier. Expenses were at Rs 727.2 crore as against Rs 539.7 crore a year ago.

DCB Bank Q1 results: Net profit increases 3% to Rs 131 cr; NIM's moderate

The provision coverage ratio (PCR), including written-off accounts, stood at 76 per cent in June 2024 as against 77.07 per cent a year ago

KPIT Tech Q1 results: Net profit jumps 52% on higher revenue growth in FY25

Auto industry-focused KPIT Technologies on Monday reported a 52 per cent jump in its net profit to Rs 204.2 crore for the March 2024 quarter on higher revenue growth and profit margins. The Pune-headquartered company had posted a post-tax net of Rs 134 crore in the year-ago period. Its revenue from operations grew 24 per cent to Rs 1,364.6 crore from Rs 1,097.6 crore in the year-ago period, and its co-founder, chief executive and managing director Kishor Patil also sounded more certain about the guidance for the fiscal. He said the company is now aiming for a 19-22 per cent growth in the top line against the earlier expectation of 18-22 per cent announced earlier. Patil, however, maintained the operating profit margin guidance at 20.5 per cent even though the company was able to widen the number to 21.1 per cent during the reporting quarter against 20.7 per cent in the March quarter and 20 per cent in the year-ago period. He said even though the growth rate for EV sales has slowed

Petronet LNG Q1 results: PAT up 40% at Rs 1,100 cr on higher gas volumes

Stable LNG prices and higher capacity utilization at Petronet's Dahej LNG terminal

Federal Bank Q1 results: Net profit increases 18% to Rs 1,010 crore

Net interest income (NII) improved 19 per cent year-on-year to Rs 1,919 crore while other income increased by 25 per cent to Rs 915 crore

IGL Q1 results: Net profit falls 8.6% to Rs 400 crore, revenue rises 3.4%

Total gas sale volumes rose 5.3% to 786 million standard cubic meters

SBI Life Q1FY25 results: Net profit increases 34% to Rs 519.5 crore

The company's new business premiums grew by 13 per cent YoY to Rs 7,030 crore in Q1FY25 against Rs 6,210 crore in the year-ago period

V-Guard Q1 results: Net profit up 54.11% to Rs 99 cr on improved margins

V-Guard Industries on Wednesday reported 54.11 per cent increase in consolidated net profit at Rs 98.97 crore for June quarter FY25 helped by improvement in margins with softening commodity prices and cost-effective initiatives. The electrical goods manufacturer had clocked a net profit of Rs 64.22 crore in April-June FY24, according to a regulatory filing. Revenue from operations rose to Rs 1,477.10 crore during the period under review from Rs 1,214.76 crore in the corresponding period a year ago. Total expenses were up 18.5 per cent to Rs 1,351.65 crore. Total income was higher by 21 per cent at Rs 1,484.01 crore in June quarter. "The business has delivered strong topline growth in electronics and consumer durables segments led by strong demand for summer products," Managing Director Mithun K Chittilappilly said. However, the wires segment, which is the largest category under the electricals segment was impacted by trade de-stocking due to the softening of copper prices in ...

Petronet LNG Q1 results: Net profit jumps 40% to Rs 1,100.76 crore

Petronet LNG Ltd, India's largest liquefied natural gas importer, on Wednesday reported a 40 per cent jump in its first quarter net profit on a rise in gas volumes. Consolidated net profit of Rs 1,100.76 crore in April-June - first quarter of current fiscal - compared with Rs 787.73 crore earning in the same period a year back, according to a stock exchange filing by the company. Revenue from operations rose 15 per cent to Rs 13,415.13 crore.

Urban Company revenue up 37.3% in Q1FY25, loss narrows to Rs 93 cr in FY24

Doorstep service provider Urban Company has reported narrowing of its consolidated loss to Rs 93 crore in the financial year 2023-24 and has posted first-ever operational profit in the June 2024 quarter. Urban Company had posted an operational loss of Rs 312 crore in FY'23. The company, meanwhile, posted first-ever operational profit in the June 2024 quarter, Urban Company said on Tuesday. "We made a strong start to FY'25 with our consolidated net revenue growth for the first quarter of FY'25 at 37.3 per cent YoY (unaudited). "We achieved PBT (profit before tax) profitability in the quarter with consolidated PBT margin as a percentage of net revenue at 4.3 per cent. The India business also achieved healthy PBT margins with PBT margin at 12 per cent," UC added. The net revenue of the company increased by about 30 per cent to Rs 827 crore in FY'24, from Rs 637 crore it posted in FY'23. "This growth was achieved on the back of investments in service quality, partner training and ...

Bajaj Finserv Q1 results: Net profit increases 10% to Rs 2,138 crore

Bajaj Finserv Ltd (BFL) on Wednesday reported 10 per cent increase in consolidated net profit at Rs 2,138 crore for the first quarter ended June 2024. The company had logged a net profit of Rs 1,943 crore in the year-ago period. Total income during the quarter increased to Rs 31,480 crore from Rs 23,280 crore in the year-ago period, BFL said in a regulatory filing. BFL is the holding company for various financial services businesses under the Bajaj group. Total expenditure also rose to Rs 25,514 crore from Rs 18,157 crore in the same quarter a year ago. During the quarter, its subsidiary Bajaj Allianz General Insurance reported 39 per cent jump in profit to Rs 576 crore. Another subsidiary Bajaj Allianz Life Insurance's profit increased to Rs 104 crore from Rs 94 crore in the same quarter a year ago.

M&M Fin Services Q1 results: Net profit jumps 45% to Rs 513 crore

Mahindra and Mahindra Financial Services on Tuesday reported a 45 per cent jump in June quarter net profit to Rs 513 crore. The non-bank lender had reported a net profit of Rs 353 crore in the year-ago period. The core net interest income grew 15 per cent to Rs 1,932 crore and the interest margin narrowed to 6.6 per cent from 7.1 per cent in the same period of the previous quarter. Its total income grew 20 per cent to Rs 3,760 crore during the reporting quarter, and the assets under management were up 23 per cent at Rs 1.06 lakh crore. Its credit costs declined to Rs 448 crore from the Rs 526 crore in the year-ago period, helping in the profit growth. In a statement, it said the collection efficiency remained at 94 per cent and the non-performing assets were also within the thresholds. The company scrip closed at Rs 295.90 apiece on the BSE on Tuesday, 1.16 per cent higher than its previous close.

United Spirits Q1 results: Net profit increases 1.7% to Rs 485 crore

The company had posted a consolidated net profit of Rs 477 crore in the year-ago period, United Spirits Ltd (USL) said in a regulatory filing