Page 16 - Corporate Earnings

Sun Pharma expects high single-digit top line growth in current fiscal: MD

Drug major Sun Pharmaceutical Industries expects a high single-digit top line growth in the current fiscal, according to Managing Director Dilip Shanghvi. The Mumbai-based firm reported a consolidated total revenue from operations at Rs 48,497 crore for FY24. The number stood at Rs 43,886 crore in FY23. "We expect high single-digit consolidated top line growth for FY25. All our businesses are positioned for growth," Shanghvi said in an analyst call. He noted that in the current fiscal, the drug firm will be in the investment phase for its several businesses. "This includes, but not limited to, product launch costs in the US as the ramp-up of our global specialty business is expected to continue," Shanghvi said. He noted that R&D investments will be 8-10 per cent of sales during the year. Replying to a separate query, Shanghvi said: "We have to continue to invest for the future. And our effort would be that while we are creating that investment for future, we don't do it at the ..

Q4 results today: Tarai Foods and VAS Infra among 5 firms to post earnings

Q4FY24 company results: Add-Shop ERetail Ltd, Athena Constructions Ltd, and Panorama Studios International Ltd will release their fourth-quarter report on May 31

Oyo posts maiden profitable year with Rs 100 cr PAT in FY24: Ritesh Agarwal

Agarwal, in a post on social media platform X, added that he expects growth not just in India, but in other key markets like the Nordics, South East Asia, the US, and the UK as well

Q4 results today: Reliance Infra, Muthoot among 908 firms to post earnings

Q4FY24 company results: Apollo Hospitals, Bharat Dynamics, Welspun Corp, and Reliance Capital will be releasing their fourth-quarter report on May 30

Bata Q4 results: Net profit declines 3% to Rs 63.65 cr as expenses surge

The company, which also sells brands such as Hush Puppies and North Star in India, said its consolidated profit fell to Rs 63.65 crore ($7.6 million)in the three months ended March 31

Samvardhana Motherson Q4 results: Net profit jumps 2-fold to Rs 1,444 cr

Auto components maker Samvardhana Motherson International Ltd on Wednesday posted a two-fold jump in consolidated net profit to Rs 1,444 crore for the fourth quarter ended March 2024. The company had reported a net profit of Rs 699 crore in the January-March period of the last fiscal. Total revenue from operations rose to Rs 27,058 crore for the period under review as compared to Rs 22,517 crore in the last quarter of FY23. For the year ended on March 31, 2024, the company reported a net profit of Rs 3,020 crore as against Rs 1,670 crore in FY23. Total revenue from operations rose to Rs 98,692 crore in FY24 over Rs 78,788 crore in FY23. Motherson Chairman Vivek Chaand Sehgal said the company has maintained a healthy financial position by keeping leverage and debt under control. "Our automotive booked business of over USD 83.9 bn provides strong revenue visibility. We also foresee good traction from our non-automotive businesses, such as aerospace, consumer electronics, and health

Omaxe Q4 results: Net loss at Rs 145 cr, income up 82% at Rs 542 cr

Realty firm Omaxe Ltd has posted a consolidated net loss of Rs 145.05 crore in the quarter ended March 2024 despite rise in income. The company had posted a net loss of Rs 105.47 crore in the year-ago period. Total income rose 82 per cent to Rs 542.32 crore in the fourth quarter of last fiscal from Rs 298.17 crore in the corresponding period of the previous year, according to a regulatory filing. During 2023-24, Omaxe posted a net loss of Rs 402.60 crore as against a net loss of Rs 347.91 crore in the preceding year. Total income more than doubled to Rs 1,634.88 crore in the last fiscal from Rs 798.01 crore in 2022-23 fiscal. Omaxe is one of the leading real estate developers in North India.

Why is Nomura betting big on RIL, BEL, Exide, Sona BLW and Uno Minda?

As corporate capex picks up, it expects the Indian corporate sector to sustain 12 - 17 per cent earnings growth in the medium-term

RITES Q4FY24 results: Net profit marginally declines to Rs 137 crore

State-owned RITES Ltd on Tuesday reported a marginal fall of 1.59 per cent in its consolidated net profit to Rs 136.67 crore for the March quarter on account of fall in revenues. It had posted a profit of Rs 138.89 crore for the year-ago period, the company said in an exchange filing. The company's total income fell to Rs 667.68 crore in the January-March period from Rs 705.63 crore in the same period a year ago. Its expenses were at Rs 483.32 crore, down from Rs 514.17 crore in January-March FY23. The board of the company has declared a dividend of Rs 5 for the financial year 2023-24. RITES, under the Ministry of Railways, is a multidisciplinary engineering and consultancy organisation, providing a comprehensive range of services from concept to commissioning in all facets of transport infrastructure and related technologies.

NMDC Q4 results: Net profit falls 38% to Rs 1,416 crore on higher expenses

State-owned iron ore miner NMDC on Monday reported a 38 per cent fall in its consolidated net profit to Rs 1,415.62 crore for the March quarter on account of increased expenses. It had posted a profit of Rs 2,276.94 crore for the year-ago period, the company said in an exchange filing. The company's total income rose to Rs 6,908.37 crore in the January-March period from Rs 5,842.52 crore in the same period a year ago. Its expenses surged to Rs 4,519.64 crore from Rs 3,794.18 crore in January-March FY23. For the whole FY24 fiscal, the company's profit was at Rs 5,571.25 crore, higher than Rs 5,537.72 crore in 2022-23. Hyderabad-based NMDC is India's largest iron ore mining company catering to the country's around 20 per cent of the steel-making raw material.

Nalco Q4 results: PAT rises two-fold to Rs 996.7 cr on lower expenses

State-owned Nalco on Monday reported two-fold rise in consolidated profit to Rs 996.74 crore for the March quarter on the back of lower expenses. The company had posted a consolidated profit of Rs 495 crore in the March quarter of FY23, National Aluminium Company Ltd (Nalco) said in a filing to the BSE. However, the consolidated total income during the quarter dropped to Rs 3,663.09 crore from Rs 3,726.76 crore in the year-ago period. The expenses of the company in the fourth quarter of FY24 dropped to Rs 2,720.42 crore from Rs 3,160.50 crore a year earlier. Nalco is a Navratna PSU under the ministry of mines. It is one of the largest integrated bauxite-alumina-aluminium-power complex in the country. The company has formed a JV company -- Angul Aluminium Park Pvt Ltd' (AAPPL) -- with Odisha Industrial Infrastructure Development Corporation (IDCO) to give a boost to ancillary, upstream and downstream products related to the aluminium industry.

LIC Q4 results: PAT rises 2% to Rs 13,763 cr, total income at Rs 2.5 trn

Insurance behemoth LIC on Monday posted a marginal 2 per cent increase in net profit at Rs 13,763 crore in the fourth quarter ended March 2024. The insurer had earned a profit of Rs 13,428 crore in the corresponding quarter a year earlier. The total income of the insurer during the reporting quarter rose to Rs 2,50,923 crore from Rs 2,00,185 crore in the same period of the previous fiscal, LIC said in a regulatory filing. LIC's income from first-year premium also improved to Rs 13,810 crore in the latest January-March quarter against Rs 12,811 crore in the same period of preceding fiscal. The income from renewal premiums in the reporting period rose to Rs 77,368 crore compared to Rs 76,009 crore a year ago. During the entire financial year ended March 2024, the insurer earned a profit of Rs 40,676 crore as compared to Rs 36,397 crore in the previous fiscal.

DCM Shriram Industries Q4 results: Net profit rises 23% to Rs 38.64 crore

DCM Shriram Industries on Monday posted a 23 per cent rise in consolidated net profit at Rs 38.64 crore for the fourth quarter of the 2023-24 fiscal from a year earlier, on lower expenses. The company, which is into sugar, industrial fibre and chemicals business, had reported a net profit of Rs 31.53 crore in the same quarter of the previous fiscal, according to a regulatory filing. Total income declined to Rs 516.61 crore during January-March quarter of the 2023-24 fiscal from Rs 541.58 crore in a year earlier. Expenses, however, remained lower at Rs 461.75 crore as against Rs 493.60 crore in the said period. For the full fiscal year 2023-24, DCM Shriram Industries posted a 92 per cent jump in consolidated net profit to Rs 115.39 crore, compared with Rs 60.16 crore in the previous fiscal year. The company's board did not recommend a final dividend in view of the need for conservation of resources for debt servicing and expected capital expenditure.

United Spirits Q4 results: Net profit rises over two-fold to Rs 241 crore

The company had posted a net profit of Rs 102 crore in the year-ago period, United Spirits Ltd (USL) said in a regulatory filing

Indiabulls Housing Finance Q4 results: Net profit up 21% at Rs 319 crore

Indiabulls Housing Finance Ltd on Friday posted a 21 per cent rise in consolidated net profit to Rs 319 crore for the March quarter. The mortagage firm had reported a net profit of Rs 263 crore in the year-ago period. Its revenue from operations rose to Rs 2,205 crore for the March quarter as compared to Rs 2,075 crore in the year-ago period, Indiabulls Housing Finance said in a regulatory filing. Total income of the company rose to Rs 2,255 crore as compared to Rs 2,077 crore in the same quarter a year ago. With regard to asset quality, the company's gross non-performing assets (NPAs) declined to 2.69 per cent at the end of March 2024 against 2.85 per cent a year ago. Net non-performing assets (NPAs), too, moderated to 1.52 per cent from 1.89 per cent of the total advances in the previous year.

EaseMyTrip Q4 results: Net loss at Rs 15 cr, total expenses at Rs 117 cr

Travel booking platform EaseMyTrip on Friday reported a loss of Rs 15.07 crore for the March quarter on a consolidated basis, as against a profit after tax (PAT) of Rs 31.05 crore a year ago. For the full financial year ended March, the company reported a PAT of Rs 103.46 crore down from Rs 134.10 crore in the previous fiscal, the company said in a regulatory filing. Its total income for the fourth quarter of FY24 rose to Rs 172.55 crore, as against Rs 120.79 crore in the year-ago period. However, its total expenses also increased to Rs 117.48 crore in the March quarter, from Rs 76.36 crore a year ago. The company's scrip settled at Rs 44.16, down 2.54 per cent from the previous day's close on the BSE.

HUDCO Q4 results: PAT rises 9% to Rs 700 cr, total income at Rs 2,194 cr

State-owned HUDCO on Friday reported 9.54 per cent rise in consolidated net profit to Rs 700.16 crore for the quarter ended March 2024. Its net profit stood at Rs 639.14 crore in the year-ago period. Total income rose to Rs 2,194.04 crore in March 2024 quarter from Rs 1,862.41 crore a year ago, according to a regulatory filing. Net profit rose to Rs 2,116.69 crore in 2023-24 financial year from Rs 1,701.43 crore in 2022-23. Total income went up to Rs 7,948.10 crore from Rs 7,086.18 crore. The company's board also recommended a final dividend of Rs 2.65 per equity share of face value of Rs 10 each for 2023-24, subject to approval of shareholders in the ensuing Annual General Meeting (AGM). HUDCO is a policy institution that provides housing finance and non-commercial urban infrastructure financing. It is regulated by the National Housing Bank and is under the administrative control of Ministry of Housing and Urban Affairs.

NIIT Q4 results: PAT at Rs 11 cr; revenue from operations at Rs 74 cr

Skill and talent development company NIIT on Friday reported a consolidated net profit (attributable to owners of the parent company) of Rs 11.16 crore for the quarter ended March 31, 2024. The company had posted a loss of Rs 9.36 crore in the year-ago period, according to a regulatory filing. Revenue from operations in the January-March quarter came in at Rs 74.34 crore, a 23.81 per cent jump from the year-ago period. Despite a continuing freeze in IT sector hiring and compression in spending, the business has exited the year with year-on-year growth in Q4, after starting Q1 with a steep decline, the company said in an investor presentation. Vice Chairman and Managing Director Vijay K Thadani said Q4 was a seasonally weak quarter for the business. Therefore, year-on-year changes are more appropriate for comparison, he said. "The business has responded with agility to the IT hiring freeze with alternate growth strategies which resulted in getting back on the path of growth in Q4,"

Suzlon Energy Q4 results: Net profit declines 21% to Rs 254 crore

Renewable energy solutions provider Suzlon Energy on Friday reported nearly 21 per cent decline in consolidated net profit to Rs 254 crore in the March quarter mainly due to certain exceptional items. The company reported a consolidated net profit of Rs 320 crore in the year-ago period, a BSE filing said. Total income rose to Rs 2,207.43 crore in the quarter from Rs 1,699.96 crore in the same period a year ago. The consolidated net profit in the 2023-24 fiscal year also declined to Rs 660 crore from Rs 2,887 crore a year earlier. Total income in the fiscal rose to Rs 6,567.51 crore from Rs 5,990.16 crore a year ago. The company explained that PAT (profit after tax or net profit before exceptional items) for the March quarter increased 411 per cent to Rs 281 crore on a year-on-year basis. The cumulative orders as on May 24, 2024 are 3.3 GW. This includes the order book as on March 31, 2024 of 2,929 MW, plus orders secured subsequently of 402 MW. "We have been able to create a sol

Bayer CropScience Q4 results: PAT drops 39.43% to Rs 96 cr on lower income

Bayer CropScience Ltd, the Indian unit of German crop science group Bayer AG, has reported a 39.43 per cent slump in net profit to Rs 96 crore for the fourth quarter of the 2023-24 fiscal, hurt by lower income. The company had posted a net profit of Rs 158.5 crore a year earlier, a statement said. Its total income for the fourth quarter declined about 18 per cent to Rs 821.1 crore from Rs 1,003.2 crore in the year-ago period. For the full year ended March 2024, the net profit dropped 2.33 per cent to Rs 740.5 crore, while total income dipped marginally to Rs 5,184.2 crore from Rs 5,203.6 crore a year ago. "Despite weather challenges and lower reservoir levels affecting crop protection volumes, our performance remained resilient," said its managing director and chief executive officer Simon Wiebusch. While revenue took a hit due to lower prices of its roundup herbicide and inventory management initiatives, the company's corn seeds business continued to grow, Wiebusch added. Pruden