Page 17 - Corporate Earnings

Gland Pharma Q4 results: Net profit jumps over two-fold to Rs 192 crore

Gland Pharma on Wednesday said its consolidated profit after tax (PAT) surged over two-fold to Rs 192 crore for the March quarter. The company has reported a PAT of Rs 79 crore in the year-ago period, the Hyderabad-based drug firm said in a statement. Revenue from operations rose to Rs 1,537 crore in the fourth quarter of FY24 as against Rs 785 crore in the year-ago period, it said. For the year ended March 31, 2024, the company reported a PAT of Rs 772 crore as against Rs 781 crore in 2022-23 fiscal. Revenue from operations rose to Rs 5,665 crore last fiscal as against Rs 3,625 crore in FY23. "This year marked a significant rebound for our base business, and we began an exciting new chapter as we completed our first international acquisition, Cenexi, in Europe," Gland Pharma MD and CEO Srinivas Sadu said. Despite the dynamic business landscape, the drugmaker has shown resilience and delivered a performance that positions it well for continued growth and success, he added. "We s

Petronet LNG Q4 results: Net profit increases 20% to Rs 738 crore

Petronet LNG Ltd -- India's largest liquefied natural gas importer -- on Wednesday reported a 20 per cent rise in the March quarter net profit on the back of importing higher LNG volumes. For the entire 2023-24 fiscal (April 2023 to March 2024), Petronet reported highest-ever net profit of Rs 3,536 crore on the back of a 22 per cent growth in volume throughput. The net profit reported in the March quarter was Rs 738 crore as compared with Rs 614 crore in the same period of the previous year, Petronet MD & CEO Akshay Kumar Singh told reporters. The profit was, however, lower than Rs 1,191 crore earned in the preceding quarter. During the current quarter ended March 31, Petronet's mainstay Dahej terminal in Gujarat processed 219 trillion British thermal units (TBTU) of LNG as against 218 TBTU during the previous quarter ended December 31, 2023 and 172 TBTU during the corresponding quarter of the previous fiscal. The overall LNG volume processed by the company during the ...

Power Grid Corporation Q4 results: PAT dips marginally to Rs 4,166 crore

State-owned Power Grid Corporation on Wednesday reported a nearly four per cent dip in its consolidated net profit to Rs 4,166.33 crore in the March 2024 quarter, mainly due to a marginal decline in income. The company reported a consolidated net profit of Rs 4,322.87 crore in the quarter ended on March 31, 2023, a BSE filing showed. Total income declined to Rs 12,305.39 crore in the quarter as compared to Rs 12,557.44 crore in the same period a year ago. For fiscal 2023-24, the consolidated net profit rose to Rs 15,573.16 crore from Rs 15,419.74 crore a year ago. Total income in the fiscal rose to Rs 46,913.12 crore as against Rs 46,605.64 crore in the year-ago period. The board also recommended a final dividend of Rs 2.75 per share (i.e. 27.5 per cent on the paid-up equity share capital) for the financial year 2023-24 subject to the approval of the shareholders at the ensuing annual general meeting of the company. The final dividend will be paid within 30 days from the date of

Shriram General Insurance Q4 results: PAT at Rs 121 cr, AUM at Rs 12,064 cr

Shriram General Insurance Company Ltd has reported a net profit for the January-March 2024 quarter at Rs 121 crore, the company said on Wednesday. Shriram General Insurance Company is jointly owned by the diversified conglomerate Shriram Group and South Africa-based Sanlam Ltd. In a statement, the company said it earned a net profit of Rs 121 crore for the quarter ending March 31, 2024 while net profits for the year ending March 31, 2024, stood at Rs 455 crore. The Gross Written Premium during the quarter under review was at Rs 876 crore up by 30 per cent over the same period of last financial year. Commenting on the financial performance, Shriram General Insurance Company Ltd MD and CEO Anil Aggarwal said, "The year gone by has been a milestone for our business as we recorded the highest ever growth since we began our operations in 2008. Our Gross Written Premium rose to 34 per cent exceeding the industry growth of 12.8 per cent." "We expect the FY25 Gross Written Premium Growth

Torrent Power Q4 results: PAT falls 4.2% to Rs 430 cr on higher fuel prices

Its revenue from operations rose 8.1% to Rs 6,529 crore, however, total expenses, led by fuel cost, rose nearly 10% to Rs 6,008 crore

Airtel Payments Bank's FY24 profit surges 60% to Rs 34.5 cr, revenue up 42%

Airtel Payments Bank on Wednesday reported a 60 per cent year-on-year surge in its profit at Rs 34.5 crore in FY24. Revenue for the fiscal saw a 42 per cent increase to Rs 1,836 crore, according to a company statement. "As we witness sustained demand for our digital offerings and accelerate customer acquisitions, we remain steadfast in our mission to empower every Indian with safe, simple and rewarding digital banking services," Anubrata Biswas, MD and CEO of Airtel Payments Bank, said. Calling it the strongest quarter, the payments bank said it posted a 15 per cent sequential growth at Rs 539 crore in the March quarter. The bank, a subsidiary of telecom major Bharti Airtel, said it witnessed significant momentum in savings account acquisitions in Q4FY24 and now onboards over a million new customers monthly. Its monthly transacting users (MTU) grew to 80.4 million, and its gross merchandise value (GMV) reached Rs 2,550 billion. "Over the past four years, the bank has experienced

Jubilant FoodWorks Q4: Net profit jumps seven-fold to Rs 208 crore

Its revenue from operations rose 23.85 per cent to Rs 1,572.79 crore during the quarter. It was Rs 1,269.84 crore in the year-ago period, it added

Sundaram Finance Holdings Q4 results: Net profit rises 173% to Rs 269.32 cr

Sundaram Finance Holdings Ltd, a part of the TSF Group, has registered a 173 per cent rise in its consolidated net profits for the March 2024 quarter, at Rs 269.32 crore. The city-based company had recorded a consolidated net profit of Rs 98.62 crore during the corresponding quarter last year. For the year ending March 31, 2024, the consolidated net profits grew by 125 per cent to Rs 533 crore, from Rs 237 crore a year ago, Sundaram Finance Holdings said in a statement here on Wednesday. The Board of Directors has recommended a final dividend of Rs 2.05 per share (41 per cent) for FY23-24. This together with the interim dividends aggregated to Rs 7.70 per share (154 per cent) for FY23-24. Sundaram Finance Holdings primarily operates as a holding company owning a portfolio of automotive businesses including foundries, wheels, brakes, turbochargers, and axles. The dividend from portfolio companies forms a substantial part of the financial results. Dividend received from portfolio ..

TeamLease Q4 results: Net profit rises 14% on general staffing strength

The company said consolidated net profit came in at 274.8 million rupees ($3.30 million) for the three months ended March 31

Max Healthcare Institute Q4 results: PAT declines by 2.81% to Rs 311 crore

Max Healthcare Institute Ltd on Wednesday reported a 2.81 per cent decline in profit after tax at Rs 311 crore in the fourth quarter ended March 31, 2024. The company had posted a Profit After Tax (PAT) of Rs 320 crore in the same quarter of the previous fiscal, Max Healthcare Institute said in a statement. "The minor drop in PAT is mainly due to lower effective tax rate last year and net loss at new units," the company said. Network gross revenue in the fourth quarter was at Rs 1,890 crore as against Rs 1,637 crore in the year-ago period, it added. The company's board has recommended a final dividend of Rs 1.5 per equity share of face value of Rs 10 for the financial year 2023-24, subject to approval of the shareholders at the upcoming annual general meeting. For the fiscal ended March 31, 2024, PAT was at Rs 1,278 crore as against Rs 1,084 crore in the previous year, the company said. In FY 24, network gross revenue was at Rs 7,215 crore as against Rs 6,236 crore in FY23. Max

Strides Pharma Q4 results: Net profit declines 24% to Rs 10.44 crore

Strides Pharma Science Ltd on Wednesday reported a consolidated net profit of Rs 10.44 crore in the fourth quarter ended March 2024. The company, which posted a consolidated net loss of Rs 13.79 crore in the same quarter a year ago, announced a top management rejig with Executive Chairperson & Managing Director Arun Kumar designated as Executive Chairperson while Executive Director Finance & Group CFO Badree Komandur has been elevated as MD and Group CEO. Consolidated total income in the quarter under review stood at Rs 1,070.49 crore as against Rs 1,013.49 crore in the same period a year ago, Strides Pharma Science said in a regulatory filing. Total expenses in the fourth quarter were higher at Rs 984.21 crore as compared to Rs 972.26 crore. The board has recommended a final dividend of Rs 2.50 per equity share of Rs 10 each for the financial year ended March 31, 2024, the filing said. For the year ended March 31, 2024, the consolidated net loss was at Rs 94.31 crore as ...

Q4 Results Today: Sun Pharma, Grasim, Nykaa Among 32 Firms to Post Earnings

Company Results Q4 FY24: Jubilant, Ramco Cements, NIIT Learning also anticipated to release fourth quarter earnings on May 22

GSFCL Q4 results: PAT declines 89% to Rs 24.43 cr, total income falls 16%

Gujarat State Fertilisers and Chemicals (GSFCL) on Tuesday posted a sharp 89 per cent drop in consolidated net profit to Rs 24.43 crore for the fourth quarter of 2023-24 on poor sales. Its net profit stood at Rs 224.91 crore in the same quarter in the preceding fiscal. The total income fell 16.34 per cent to Rs 2,017.46 crore in the January-March quarter of 2023-24 from Rs 2,411.56 crore a year earlier, according to a regulatory filing. The company's expenses remained lower at Rs 1,993 crore in the period under review against Rs 2,105.74 crore a year ago. The company said FY24 was a challenging year due to external headwinds in fertilisers and industrial products segments. "FY23-24 was a challenging year for the company due to external headwinds in both fertilisers and industrial products segments," GSFCL said. However, with a high net-worth proportion in the overall balance sheet size and long-term debt-free position, the company has a strong financial position to fund its capex

Hitachi Energy India Q4 results: Net profit rises 124% to Rs 113.7 crore

Hitachi Energy India on Tuesday posted a 123.7 per cent growth in net profit to Rs 113.7 crore in the March quarter mainly on the back of higher revenues. The company had posted a net profit of Rs 50.8 crore in the same quarter a year ago, Hitachi Energy said in a statement. The company delivered strong revenues of Rs 1,699.2 crore, up 27.2 per cent year-on-year from Rs 1,336.3 crore in the year-ago period. This (revenue growth) was a result of solid order execution, reflecting a diverse revenue mix and focus on continuous improvement in operations, it said. The board of directors has recommended a final dividend of Rs 4 per share of face value of Rs 2 each, subject to the approval of shareholders at the ensuing Annual General Meeting (AGM). In the March quarter, the orders totalled Rs 1,406.7 crore, up 11.5 per cent from Rs 1,262 crore a year ago. "A strong revenue performance, helped by a favourable external environment helped to deliver double digit margins," Hitachi Energy In

Whirlpool of India Q4 results: Net profit rises 24.7% to Rs 79.5 crore

Consumer durables maker Whirlpool of India Ltd on Monday reported a 24.7 per cent increase in consolidated net profit to Rs 79.45 crore in the March quarter. The company had posted a net profit of Rs 63.71 crore during the January-March quarter of the previous fiscal, Whirlpool of India, a subsidiary of Whirlpool Corporation, said in a regulatory filing. Whirlpool's revenue from operations was up 3.66 per cent to Rs 1,734 crore during the quarter under review. It was at Rs 1,672.65 crore in the corresponding period of the previous fiscal. Its growth in profit was "driven by the volume growth, strong cost productivity actions leading to better margins and improved mix of premium and high margin portfolio," said an earning statement from the company. "While the market for refrigerators and washers was flattish, our market shares for Jan-March have grown significantly compared to the same period last year driving the modest revenue growth," it said. Whirlpool of India's total expens

SAIL Q4 results: Net profit falls 3% to Rs 1,126 cr on softer steel prices

The state-owned firm's consolidated net profit for the quarter ended March 31 declined to Rs1,126 crore ($135.22 million) from Rs 1,159 crore a year earlier

Bharti Airtel's Africa Ebitda likely to contract by about 20%: S&P Global

Bharti Airtel's Africa EBITDA is expected to be reduced by about 20 per cent in the current fiscal and register slow overall earnings growth, credit rating agency S&P Global said on Monday. The credit rating agency, however, said Bharti Airtel's overall earnings growth will likely remain on an uptrend, and its average revenue per user will continue to rise gradually in the Indian mobile market. "Currency-induced weakness in Bharti Airtel Ltd's African operations will weigh on earnings from that region and slow overall earnings growth. We expect that reported EBITDA from the African operations could contract by about 20 per cent in fiscal 2025 (year ending March 31, 2025) in Indian rupee terms," S&P Global said. Bharti Airtel on Tuesday posted a 31 per cent drop in consolidated profit to Rs 2,072 crore in the March 2024 quarter, mainly due to the devaluation of the Nigerian Naira. Airtel suffered a forex loss of Rs 2,544.4 crore on account of currency devaluation. "Africa ...

IRFC Q4 results: Net profit grows 34%, total income at Rs 6,478 crore

Indian Railway Finance Corporation (IRFC) Ltd on Monday reported a 34 per cent rise in its profit to Rs 1,717.3 crore for the March 2024 quarter on account of higher income. It had clocked a profit of Rs 1,285.2 crore during the fourth quarter of the last fiscal, the state-owned company said in a regulatory filing. The company's total income rose to Rs 6,477.9 crore in the January-March quarter from Rs 6,230.2 crore in FY23. During the period under review, its expenses stood at Rs 4,760.6 crore as against Rs 4,945 crore a year ago. Besides, the board of the company also approved a final dividend of 70 paise per share for the FY 2023-24. The board of directors also approved the raising of resources for the financial year 2024-25 up to Rs 50,000 crore from both domestic and international markets. It will be raised "through a prudent mix of tax-free bonds, taxable bonds on private placement or public issue basis", including capital gain bonds, government guaranteed bonds, and govern

Power Mech Projects Q4 results: Net profit rises 13% to Rs 84 crore

Power Mech Projects Ltd on Monday reported a 13 per cent rise in consolidated net profit to Rs 84.41 crore for the March quarter on account of higher income. It had clocked Rs 74.57 crore profit after tax (PAT) in the year-ago period, the company said in an exchange. The company's total income rose to Rs 1,311.86 crore, from Rs 1,183.20 crore in January-March FY23. During the period under review, its expenses stood at Rs 1,189.69 crore, as against Rs 1,070.49 crore a year ago. The board of the company also approved a final dividend of Rs 2 per share for FY24. Hyderabad-based Power Mech Projects Ltd is into the power and infrastructure sectors.

Global Health Q4 result: PAT up 25% at Rs 127 cr, total income at Rs 836 cr

Global Health, which operates hospitals under the Medanta brand, has reported a 25 per cent increase in its consolidated profit after tax at Rs 127 crore for the March 2024 quarter. The healthcare provider had posted a profit after tax of Rs 102 crore in the January-March quarter of the previous fiscal. Total income rose to Rs 836 crore for the fourth quarter as compared with Rs 732 crore in the year-ago period, Global Health said in a statement on Saturday. For the year ended on March 31, 2024, the company said its net profit increased to Rs 478 crore as against Rs 326 crore in FY23. Total revenue rose to Rs 3,350 crore last fiscal from Rs 2,759 crore in 2022-23 fiscal. "The continued focus on providing our patients with the highest quality of care has enabled Medanta to deliver strong financial results during the year," Global Health Group CEO and Director Pankaj Sahni said. The company remains dedicated to executing its core strategy and delivering on the upcoming projects, he