Page 19 - Corporate Earnings

India Inc revenue rose in Q4, but profit grew at slowest pace in 6 quarters

BFSI, auto firms key drivers of net sales, profit in Q4

Karur Vysya Bank Q4 results: Net profit rises 35% to Rs 456 crore

Private sector lender Karur Vysya Bank on Monday reported a 35 per cent rise in net profit to Rs 456 crore in the March quarter. The Tamil Nadu-based bank had earned a net profit of Rs 338 crore in the year- ago period. The total income increased to Rs 2,813 crore during the quarter under review, as against Rs 2,169 crore in the corresponding period a year ago, the bank said in a regulatory filing. The interest income of the bank grew to Rs 2,185 crore during the period under review, from Rs 1,768 crore in the corresponding quarter a year ago. On the asset quality side, the bank's gross non-performing assets (NPAs) moderated to 1.40 per cent of gross advances as of March 2024, from 2.27 per cent at the end of March 2023. Net NPAs also declined to 0.40 per cent of the advances, from 0.74 per cent at the end of 2023. However, provision and contingencies remained flat at Rs 293 crore. For the financial year ended March 2024, the bank's net profit increased 45 per cent to Rs 1,605 c

DLF Q4 results: Net profit up 62% at Rs 920 cr, total income at Rs 2,316 cr

Realty major DLF Ltd on Monday reported a 62 per cent increase in its consolidated net profit to Rs 920.71 crore in the quarter ended March on higher income amid strong housing sales. Its net profit stood at Rs 570.01 crore in the year-ago period. Total income rose to Rs 2316.70 crore in the fourth quarter of 2023-24 fiscal from Rs 1,575.70 crore in the corresponding period of the previous year, according to a regulatory filing. During 2023-24 fiscal, the company's net profit increased to Rs 2,727.09 crore from Rs 2,035.83 crore in the preceding year. Total income grew to Rs 6,958.34 crore during the last fiscal from Rs 6,012.14 crore in the 2022-23 financial year. DLF is the country's largest real estate firm in terms of market capitalisation. It has developed more than 158 real estate projects and developed an area in excess of 340 million square feet. DLF Group has 215 million square feet of future development potential across residential and commercial segments. DLF group is

Sterling Tools Q4 results: PAT doubles to Rs 16 cr on growth in EV division

Automotive parts manufacturer Sterling Tools Ltd's profit after tax doubled in the March quarter to Rs 16.3 crore driven by growth in its electric vehicle division. The company reported a profit after tax of Rs 7.8 crore in the year-ago period, Sterling Tools Ltd (STL) said in a statement. Total income in the January-March quarter jumped by 27 per cent to Rs 270.2 crore compared to Rs 212.7 crore in the last quarter of the previous year, the company said. For the full 2023-24 fiscal, the profit after tax rose by more than 15 per cent to Rs 55.4 crore against Rs 47.9 crore in the previous year. Total Income for FY24 rose by 21 per cent to Rs 938.5 crore as against Rs 774.9 crore, the company said. The Electric Vehicle (EV) division of the company, Sterling Gtake E-Mobility (SGEM), reported a 23 per cent growth in total income to Rs 323.8 crore in FY24 compared to Rs 174.3 crore in the year-ago period. The EV division accounts for 35% of FY24 consolidated revenue now against 23 per

Aditya Birla Capital Q4 results: Net profit doubles to Rs 1,245 crore

Aditya Birla Capital on Monday reported a two-fold rise in profit to Rs 1,245 crore on a consolidated basis for the fourth quarter ended March 2024. The company posted a net profit of Rs 609 crore in the same period a year ago. The consolidated profit after tax, excluding one-off items (sale of shares in AMC through OFS in Q4 FY24), grew 33 per cent to Rs 812 crore in the quarter, it said. The total consolidated income of the company grew to Rs 10,964 crore in the quarter from Rs 8,052 crore a year ago, Aditya Birla Capital Ltd (ABCL) said in a regulatory filing. The company is present in non-banking finance (NBFC) business, housing finance, asset management, and life and general insurance, among others. ABCL is the holding company for the financial services businesses of Aditya Birla Group. The total assets under management (AMC, life insurance and health insurance) rose 21 per cent to Rs 4,36,442 crore, it said. The total premium (life insurance and health insurance) grew by 1

Bank of India Q4 results: Net profit rises 7%, NII at Rs 5,937 crore

State-owned Bank of India (BoI) on Friday posted a 7 per cent rise in net profit at Rs 1,439 crore for the March quarter. The bank had earned a net profit of Rs 1,350 crore in the same quarter a year ago. The total income increased to Rs 17,913 crore during the quarter under review, as against Rs 16,549 crore in the same period last year, BoI said in a regulatory filing. Net interest income (NII) grew to Rs 5,937 crore during the period under review, from Rs 5,523 crore in the corresponding quarter a year ago. On the asset quality side, the bank's gross Non-Performing Assets (NPAs) moderated to 4.98 per cent of gross advances as of March 31, 2024, from 7.31 per cent at the end of March 2023. Net NPAs also declined to 1.22 per cent of the advances, from 1.66 per cent at the end of 2023. However, provision for bad loans increased to Rs 2,043 crore, as against Rs 546 crore earmarked during the same quarter a year ago. The provision coverage ratio of the bank stood at 90.59 per cent

Cholamandalam Financial Q4 results: PAT rises 26.9% to Rs 1,143 crore

Cholamandalam Financial Holdings Ltd on Friday reported a 26.9 per cent growth in its consolidated profit after tax at Rs 1,143.75 crore for the March 2024 quarter, the company said. The city-based company, part of the diversified conglomerate Murugappa Group, had registered net profits of Rs 900.77 crore during the corresponding period of last year. For the year ending March 31, 2024, the consolidated net profits grew by 37 per cent to Rs 3,850.56 crore, from Rs 2,809.62 crore registered a year ago. The total income during the quarter under review on a consolidated basis went up to Rs 7,157.91 crore, from Rs 5,281.23 crore registered in the same period of last year. For the year ending March 31, 2024, the consolidated total income soared to Rs 26,086.76 crore, from Rs 18,376.03 crore registered last year. Cholamandalam Investment and Finance Company Ltd, in which Cholamandalam Financial Holdings Ltd holds a 44.39 per cent stake, disbursed Rs 24,784 crore during the quarter ending

ABB India Q4 results: Net profit jumps 87% to Rs 460 cr on higher revenues

ABB India on Friday reported an over 87 per cent rise in its net profit at Rs 460 crore in the March 2024 quarter, pushed by higher revenues. It had posted a profit after tax of Rs 245 crore in the corresponding period of the previous fiscal year, the company said in a statement. The electrification and automation major follows the financial year from January to December. Its consolidated revenues during the quarter under review also rose to Rs 3,080 crore from Rs 2,411 crore in the year-ago period, it added. "We announce a strong start to 2024, building on our robust performance from Q4 of 2023. The increased demand for technologically superior solutions, coupled with the government's capital expenditure focus on new-age themes such as energy efficiency, decarbonization, and digitalization, has significantly driven our order momentum," ABB India said. During the quarter, the company said it had an order backlog of Rs 8,932 crore, up from Rs 7,170 in January-March quarter earlier.

Thermax's Q4 results: Net profit rises 20.5% to Rs 188 cr on strong demand

Capital goods companies in India have benefitted from the government's push on infrastructure and clean energy through increased capital expenditure and production-linked incentive schemes

Kalyan Jewellers Q4 results: PAT rises 97%, operational revenue up 34%

Kalyan Jewellers on Friday reported a 97 per cent growth in consolidated profit after tax (PAT) to Rs 137.49 crore during the March quarter. The jewellery retailer's PAT stood at Rs 69.79 crore in the year-ago period, Kalyan Jewellers said in a regulatory filing. Consolidated revenue from operations of the company grew 34 per cent during the quarter under review at Rs 4,534.93 crore as against Rs 3,381.80 crore in the corresponding quarter of the previous year. The board of directors of the company has recommended a final dividend of Rs 1.2 per equity share for the financial year ended March 31, 2024, subject to the approval of shareholders. This represents a payout in excess of Rs 120 crore, more than 20 per cent of the net profit generated during FY24, the company added. "We completed an excellent financial year and have started the new year on a strong note despite continuing volatility in gold prices. We are witnessing encouraging momentum in consumer demand, especially around

Sundaram-Clayton Q4 results: PAT at Rs 20.73 cr, total income at Rs 540 cr

Auto-component manufacturer Sundaram-Clayton Ltd has recorded a standalone profit for the quarter ending March 31, 2024, at Rs 20.73 crore. The city-based company had registered a standalone profit of Rs 17.61 crore in the corresponding period of last year. For the year ending March 31, 2024, the standalone net stood at Rs 64.52 crore. The standalone total income grew to Rs 540.01 crore, from Rs 533.78 crore registered in the same period of last year, Sundaram-Clayton Ltd said in a BSE filing. For the financial year ending March 31, 2024, the standalone total income was Rs 1,375.90 crore. During the quarter under review, the company said it invested Rs 41.53 crore in its overseas subsidiary Sundaram Holding USA Inc. The Board of Directors at its meeting held on March 26, declared an interim dividend of Rs 5.15 per share, absorbing a sum of Rs 10.42 crore for the financial year ending March 31, 2024, and the same was paid to shareholders on April 4.

Bajaj Hindusthan Sugar Q4 results: Net profit falls 31% to Rs 91 crore

Bajaj Hindusthan Sugar Ltd on Friday reported a 31 per cent fall in its consolidated net profit to Rs 90.56 crore for the fourth quarter ended March 2024. Its net profit stood at Rs 130.91 crore in the year-ago period. Its total income declined to Rs 1,874.77 crore in the fourth quarter of the last fiscal from Rs 2,059.10 crore in the corresponding period of the preceding year, according to a regulatory filing. In 2023-24, the company's net loss narrowed to Rs 86.92 crore against Rs 134.74 crore in the preceding year. Its total income fell to Rs 6,146.33 crore in the last fiscal from Rs 6,360.34 crore in 2022-23.

Sapphire Foods Q4 results: PAT declines 98% to Rs 2.39 cr on slow demand

The Yum Brands franchisee's consolidated net profit fell 98% to Rs 2.39 crore ($286,271.4) for the quarter ended March 31, marking its fourth straight quarterly profit fall

Bank of Baroda Q4 results: Net profit rises 2.3% to Rs 4,886 crore

State-owned Bank of Baroda (BoB) on Friday posted a marginal 2.3 per cent rise in net profit at Rs 4,886 crore for the fourth quarter ended March 2024. The bank had earned a net profit of Rs 4,775 crore in the January-March quarter a year ago. The total income increased to Rs 33,775 crore during the quarter under review, as against Rs 29,323 crore in the same period last year, BoB said in a regulatory filing. Interest income grew to Rs 29,583 crore during the latest three-month period from Rs 25,857 crore in the corresponding quarter a year ago. On the asset quality side, the bank's gross Non-Performing Assets (NPAs) moderated to 2.92 per cent of gross advances as of March 31, 2024, from 3.79 per cent at the end of March 2023. Net NPAs also declined to 0.68 per cent of the advances, from 0.89 per cent at the end of 2023. As a result, provisions for bad loans and contingencies eased to Rs 1,302 crore, as against Rs 1,421 crore earmarked during the same quarter a year ago. The Pro

Piramal Enterprises Q4 results: PAT at Rs 137 cr on AIF provisions reversal

The company had posted a loss of Rs 2,378 crore in the December quarter when it had set aside Rs 3,540 crore for such provisions

Revenue in FY25 to grow around 15%, tensions in West Asia a factor: L&T CFO

BENGALURU (Reuters) -India's national elections and global geopolitical tensions will hurt Indian engineering company Larsen and Toubro's (L&T) order inflow and revenue in fiscal year 2025, the firm said on Wednesday, after reporting fourth-quarter results that beat analysts' estimates.

Bajaj Consumer Care Q4 results: Net profit slips 12% to Rs 35.58 crore

FMCG firm Bajaj Consumer Care Ltd on Wednesday reported a 12 per cent decline in consolidated net profit to Rs 35.58 crore for the fourth quarter ended March 2024. The company had posted a consolidated net profit of Rs 40.46 crore in the same quarter of the previous fiscal, Bajaj Consumer Care said in a regulatory filing. Its consolidated total revenue from operations during the quarter under review stood at Rs 239.96 crore against Rs 249.42 crore in the year-ago period, it added. The company's total expenses declined to Rs 208.08 crore in the fourth quarter from Rs 210.33 crore a year ago. For the fiscal ended March 2024, its consolidated net profit was higher at Rs 155.43 crore compared to Rs 139.22 crore in FY23, the company said. In FY24, the consolidated total revenue from operations stood at Rs 984.12 crore against Rs 960.87 crore in the preceding fiscal, it added. Bajaj Consumer Care said its board of directors at its meeting held on Wednesday considered and approved the .

Pidilite Industries Q4 results: Profit after tax rises 6.44% to Rs 304 cr

Pidilite Industries, which makes adhesives, sealants and construction chemicals, has reported a 6.44 per cent rise in consolidated profit after tax to Rs 304.28 crore in the fourth quarter ended March 2024. The company posted a consolidated Profit After Tax (PAT) of Rs 285.86 crore in the same quarter last year. For the full 2023-24 fiscal, its PAT stood at Rs 1,747 crore, which was 36 per cent higher compared to a year ago. Addressing an earnings call on Wednesday, the company's Managing Director Bharat Puri shared that the full-year revenue was underpinned by distribution expansion supply chain and digital initiatives. The company's total income for the quarter under review rose to Rs 2,950.73 crore as against Rs 2,712.07 crore a year ago, according to a regulatory filing. However, its total expenses also rose to Rs 2,450.87 crore in the January-March period from Rs 2,318,09 crore in the corresponding quarter of the previous fiscal. For the full financial year 2023-24, the comp

Hero MotoCorp Q4 results: Profit after tax up 16.7% at Rs 943.46 crore

Two-wheeler maker Hero MotoCorp Ltd on Wednesday reported a 16.7 per cent rise in consolidated profit after tax to Rs 943.46 crore in the fourth quarter ended on March 31, 2024, riding on higher sales. The company had posted a consolidated profit after tax of Rs 810.8 crore in the same period a year ago, Hero MotoCorp said in a regulatory filing. Consolidated revenue from operations during the quarter under review stood at Rs 9,616.68 crore as against Rs 8,434.28 crore in the corresponding period a year ago, it added. Hero MotoCorp said it sold 13.92 lakh units of motorcycles and scooters in Q4 FY24 as against 12.70 lakh units in Q4 FY23. Total expenses were higher at Rs 8,427.36 crore in the fourth quarter as compared to Rs 7,508.94 crore in the same period a year ago. For the fiscal ended March 31, 2024, consolidated profit after tax was at Rs 3,742.16 crore as compared to Rs 2.799.9 crore in the previous fiscal. Consolidated revenue from operations for FY24 stood at Rs 37,788.

Voltas Q4 results: PAT down 22.5% at Rs 110.64 cr, services biz up 38%

Air conditioning and engineering services provider Voltas Ltd on Tuesday reported a 22.75 per cent decline in consolidated net profit to Rs 110.64 crore in the fourth quarter ended March 31, 2024, impacted by higher expenses. The company had posted a consolidated net profit of Rs 143.23 crore in the same period previous fiscal, Voltas said in a regulatory filing. Consolidated revenue from operations during the quarter under review stood at Rs 4,202.88 crore as against Rs 2,956.8 crore in the year-ago period, it added. Total expenses in the fourth quarter were higher at Rs 4,044.90 crore compared to Rs 2,761.45 crore in the corresponding period a year ago. In the fourth quarter the unitary cooling products business segment revenue grew by 44 per cent to Rs 2,955 crore as compared to Rs 2,049 crore in the corresponding quarter of the previous year on account of a better product mix enhancement approach, the company said. The engineering products and services division clocked revenue