Page 21 - Corporate Earnings

Ajanta Pharma Q4 results: Net profit increases 66% to Rs 203 crore

Ajanta Pharma on Thursday said its consolidated net profit increased 66 per cent to Rs 203 crore in the March quarter, aided by robust sales across domestic and international markets. The drugmaker had reported a net profit of Rs 122 crore in the January-March quarter of the previous fiscal. Revenue from operations rose to Rs 1,054 crore in the fourth quarter of FY24 as compared with Rs 882 crore in the year-ago period, Ajanta Pharma said in a regulatory filing. For the year ended March 31, 2024, the company posted a consolidated net profit of Rs 816 crore as against Rs 588 crore in the 2022-23 fiscal year. Revenue from operations rose to Rs 4,209 crore for FY24 as compared with Rs 3,743 crore in FY23. The company said it distributed Rs 642 crore to its shareholders in the form of dividend in FY24. The drug firm generated a cash flow of Rs 812 crore and, given this financial position, the board of directors has approved the distribution of Rs 351 crore to shareholders in the form

Coal India Q4 results: Consolidated net profit rises 26% to Rs 8,682 crore

Coal behemoth CIL on Thursday reported a 26.2 per cent rise in consolidated net profit to Rs 8,682.20 crore for the March quarter. The company's consolidated net profit stood at Rs 6,875.07 crore in the year-ago period, Coal India Ltd (CIL) said in a regulatory filing. Its consolidated income in the January-March period declined to Rs 39,654.50 crore from Rs 40,371.51 crore a year ago. CIL accounts for over 80 per cent of the country's domestic coal production.

Huntington March quarter results: Revenue up 4.9% to $2.81 bn, beats views

Demand for submarines and aircraft carriers is surging, fueled by China's expanding naval footprint and high global tensions, benefiting shipbuilding giants such as Huntington Ingalls

South Indian Bank Q4 results: Net profit dips 14% to Rs 288 crore

South Indian Bank on Thursday reported a 13.88 per cent decline in March quarter net profit to Rs 287.56 crore. The private sector bank posted a net profit of Rs 333.89 crore in the January-March period of the 2022-23 fiscal year. Total expenditure increased to Rs 2,187 crore in the March quarter, from Rs 1,757 crore in the same period a year ago, South Indian Bank said in a regulatory filing. The bank's total income rose to Rs 2,621 crore in the fourth quarter of 2023-24, from Rs 2,318 crore in the year-ago period. For 2023-24 fiscal, the bank's net profit rose 38 per cent to Rs 1,070 crore, from Rs 775 crore in the 2022-23 fiscal. The bank's board has recommended a dividend of Rs.0.30 per equity shares of face value of Re 1 each (30 per cent) for the financial year ended March 31, 2024 Shares of South Indian Bank were trading at Rs 28.92, down 6.01 per cent over previous close on the BSE.

Tata Chemicals Q4 results: Net loss at Rs 850 cr on low soda ash demand

It reported a consolidated net loss of Rs 850 crore ($101.9 million) in the quarter ended March 31, compared to a profit of Rs 709 crore year ago

Trent Q4 results: Profit sees multi-fold jump at Rs 712 cr, sales up 51%

Tata group's retail arm Trent Ltd on Monday reported a multi-fold increase in consolidated net profit at Rs 712.09 crore for the fourth quarter ended March 2024, helped by exceptional item gains. The company had posted a consolidated net profit of Rs 44.95 crore in the January-March quarter a year ago, according to a regulatory filing from Trent Ltd, which operates retail stores under the brand names -- Westside, Zudio and Star. Its consolidated revenue from operations was up 51 per cent to Rs 3,297.70 crore during the quarter under review. It was at Rs 2,182.75 crore in the year-ago period, it added. During the quarter, Trent had a gain of Rs 576.07 crore as it "reassessed the estimates of measurement and recognition of the right of use assets including related security deposits and corresponding lease liabilities" of lease contracts for its store operations. Trent's total expenses were higher at 39.21 per cent in the March quarter to Rs 3,073.54 crore in FY24. "Given the account

KPIT Tech Q4 results: Net profit rises 49% to Rs 165 cr on revenue growth

Auto industry-focused KPIT Technologies on Monday reported a 49 pc jump in March quarter net profit to Rs 165.9 crore, helped by a strong revenue growth and widening of profit margins. The Pune-headquartered company's FY24 net profit grew to Rs 598.51 crore from Rs 386.8 crore in the year-ago period. For the reporting quarter, its revenues rose nearly 30 per cent to Rs 1,317.8 crore, while the operating profit margin widened 1.7 per cent to 20.7 per cent. The company announced that it will aim for an 18-22 per cent growth in the topline in the new fiscal, and will get the profit margin number above 20.5 per cent. About the slower revenue growth target for FY25, and if the company is being conservative, its Co-Founder, Chief Executive and Managing Director Kishor Patil told reporters that while it has been consistently showing growth of over 30 per cent in the last four years, it is also true that many changes are happening in the sector and it has taken a "pragmatic" call on the .

Gillette India March quarter results: Profit falls 4% to Rs 99.09 crore

Consumer goods makers are increasingly facing strong competition from smaller manufacturers who are better equipped to occupy shelf space due to declining commodity prices

Corporate earnings, Fed interest rate decision to drive markets: Analysts

Quarterly earnings from corporates, the US Fed interest rate decision and other global trends will be the major driving factors for determining movement in the domestic equity market in a holiday-shortened week ahead, analysts said. Besides, factors like trading activity of foreign investors, global oil benchmark Brent crude and rupee-dollar trend would also influence trading. Domestic equity markets would remain closed on Wednesday on account of Maharashtra Day. "Domestically, the next batch of Q4 earnings reports will drive stock-specific movements," said Santosh Meena, Head of Research, Swastika Investmart Ltd. Monthly auto sales figures will be announced at the beginning of May, and the next phase of voting will be significant, he said. "On the global front, the outcome of the US Federal Open Market Committee (FOMC) meeting on May 1st will be important. Economic data releases from China and the US, along with movement in the global currency market, will also be the factors to

Bajaj Finserv Q4 results: Profit rises 20%, total income at Rs 32,042 cr

Bajaj Finserv Ltd (BFL) on Friday reported a 20 per cent increase in consolidated net profit to Rs 2,119 crore for the March quarter. The company had posted a net profit of Rs 1,769 crore in the year-ago period. The total consolidated income during the fourth quarter of FY24 increased to Rs 32,042 crore, as against Rs 23,625 crore in the year-ago period, BFL, the holding company for the various financial services businesses under the Bajaj group, said in a regulatory filing. The Board of Directors has recommended a dividend of Re 1 (100 per cent) per equity share of face value of Re 1, for the financial year ended March 31, 2024. The total amount of dividend outgo would be Rs 159.55 crore as compared to Rs 127.43 crore in the previous fiscal. For the financial year 2023-24, the company witnessed a 27 per cent increase in profit to Rs 8,148 crore, as against Rs 6,417 crore in the previous fiscal. The total consolidated income rose to Rs 1,10,383 crore, as against Rs 82,072 crore i

Usha Martin Q4 result: PAT rises 1% to Rs 106 cr, income falls to Rs 838 cr

Usha Martin on Friday reported a marginal 1 per cent rise in consolidated profit after tax (PAT) to Rs 106.33 crore for the March quarter of FY24. The company had posted a PAT of Rs 105.32 crore in the year-ago period, Usha Martin said in a filing to the BSE. The consolidated income in the January-March period declined to Rs 838.5 crore from Rs 866.5 crore in the year-ago period. Commenting on the performance, Usha Martin Non-Executive Director Tapas Gangopadhyay said, "We have concluded the financial year 2023-24 on a positive note with our robust operating cash flows, reflecting strong performance." Despite facing macro-economic challenges, the company managed to generate an 18.6 per cent EBITDA margin during the year, he said. "Notably, our core wire ropes division continued to perform well and contributed 71 per cent to our overall consolidated revenues," Gangopadhyay added. Usha Martin is a leading specialty steel wire rope solutions provider.

NDTV Q4 result: Net loss at Rs 8.74 cr, revenue up 59% on digital expansion

News broadcaster NDTV Ltd on Friday reported a 59 per cent jump in March quarter revenue as it expanded digital footprint, gaining a 39 per cent rise in traffic. Consolidated net loss of Rs 8.74 crore in January-March compared with loss of Rs 1.35 crore profit in the same period a year back, according to a stock exchange filing by the company. Loss, however, narrowed from Rs 10.13 crore in the December quarter as its digital footprint expanded and gained traction. Revenue from operations rose to Rs 106.52 crore from Rs 66.96 crore in the January-March period. "NDTV Convergence, the company's digital arm also witnessed a significant 39 per cent increase in global digital traffic in March 2024 over April 2023 on its platforms," a company statement said. "The NDTV Group's ability to adapt to evolving consumer preferences and market dynamics has been instrumental in driving this impressive growth," it said. Attrition was down 58 per cent from previous year. During the financial year

Mahindra Holidays & Resorts Q4 results: PAT jumps 47.7% to Rs 83.2 cr

Mahindra Holidays & Resorts India Ltd on Friday reported a 47.7 per cent rise in consolidated profit after tax of Rs 83.2 crore for the March 2024 quarter against Rs 56.3 crore a year ago. For the entire 2023-24, the company reported a consolidated profit after tax of Rs 116.05 crore against Rs 113.82 crore in the preceding fiscal, according to a regulatory filing. During the January-March quarter, Mahindra Holidays & Resorts India Ltd reported a total income of Rs 830.34 crore compared to Rs 735.26 crore a year ago. Its total expenses during the quarter under review rose to Rs 720.86 crore from Rs 658.23 crore in the January-March period of the previous year. The company said it has recorded robust member additions at 20,019 during 2023-24, up 15 per cent year-on-year. The company's shares closed at 434.10 apiece, up 1.99 per cent from their previous close on the BSE.

Mphasis Q4 results: Net profit declines 3% to Rs 393 crore

IT company Mphasis posted a 2.98 per cent decline in consolidated net profit to Rs 393.2 crore in the March quarter of FY24. The company posted a net profit of Rs 405.3 crore in the same period a year ago. The consolidated revenue from operations of Mphasis Group, however, increased marginally to Rs 3,142 crore during the fourth quarter of the previous fiscal from Rs 3,361.2 crore a year ago, the company said in a regulatory filing. During the reporting quarter, Mphasis registered new TCV (total contract value) wins of USD 177 million (about Rs 1,475 crore). "We are experiencing strong growth momentum in Artificial Intelligence (AI) powered deal archetypes, as we look to capture the enterprise demand for AI adoption. "Our ability to orchestrate the ecosystem by bringing technology and people together to solve for customer needs strongly positions us for growth in FY25, while we continue to work around the uncertainties in the overall economic environment," Mphasis, Chief Executive

Tech Mahindra Q4: Stock zooms 13% as management eyes 'turnaround' in FY25

Tech M stock price: The management indicated that FY25 will be a year of turnaround followed by stabilisation in FY26 and strong returns from FY27

IHC Q4 result: PAT rises 29% to Rs 438 cr, total income at Rs 1,951 cr

The Indian Hotels Company Ltd (IHCL) on Wednesday reported a 29.36 per cent growth in consolidated profit after tax to Rs 438.33 crore in the fourth quarter ended March 2024. The hospitality company had reported a Profit After Tax (PAT) of Rs 338.84 crore in the year-ago period. For the financial year 2023-24, IHCL reported a consolidated PAT of Rs 1,330.24 crore as against Rs 1,052.83 crore in the previous fiscal. Its total income rose to Rs 1,951.46 crore during the quarter under review, from Rs 1,654.54 crore in the corresponding period of the previous year, according to a regulatory filing. However, its total expenses also increased to Rs 1,416.77 crore as against Rs 1,254.52 crore a year ago. Puneet Chhatwal, Managing Director & CEO of IHCL, said, "With 53 signings in FY2024, IHCL achieved a portfolio of 310 hotels, enabled by attaining scale in each of our brands and forming strategic alliances in new market segments". He shared that looking ahead at FY25, IHCL will continu

Macrotech Developers Q4: PAT down 11% to Rs 665 cr, FY24 profit up 300%

Realty firm Macrotech Developers on Wednesday reported an 11 per cent decline in consolidated net profit to Rs 665.5 crore in the March quarter. However, for the full fiscal year, the company registered a three-fold jump in profit to Rs 1,549.1 crore. Its net profit stood at Rs 744.4 crore in the fourth quarter of 2022-23 and Rs 486.7 crore in the entire 2022-23 fiscal. The company's total income grew to Rs 4,083.9 crore in the quarter under review from Rs 3,271.7 crore in the year-ago period, the company said in a regulatory filing. During 2023-24, the company's total income rose to Rs 10,469.5 crore from Rs 9611.2 crore in the 2022-23 fiscal. Macrotech is one of the leading real estate firms in the country. The company markets its properties under Lodha brand.

CPCL Q4 results: Net profit falls 39% to Rs 628 cr on foreign exchange loss

Chennai Petroleum Corporation Ltd, a subsidiary of Indian Oil Corporation (IOC), on Wednesday reported 39 per cent drop in March quarter net profit on lower prices and foreign exchange loss. Consolidated net profit of Rs 627.89 crore in January-March FY24 was lower than Rs 1,012.81 crore earning in the same period last year, according to a stock exchange filing of the company. The profit was up 71 per cent when compared with Rs 365.3 crore earning in December quarter. Revenue from operations was lower at Rs 20,822.95 crore as against Rs 21,350.05 crore in January-March FY23. The company earned USD 8.64 on turning every barrel of crude oil into fuel in the year to March 31, 2024 as opposed to a gross refining margin of USD 11.91 per barrel in the previous year. Gross refining margin (GRM) for the quarter stood at USD 7.71 per barrel, compared to (-) USD 16.6 per barrel a year ago. Also, the company booked a foreign exchange loss of Rs 15.84 crore during January-March as compared

Axis Bank Q4 results: Net profit at Rs 7,129 crore, NII grows 11%

Private sector lender Axis Bank on Wednesday reported a net profit of Rs 7,129 crore for the fourth quarter ended March 31, 2024. The bank had reported a net loss of Rs 5,728 crore in the March quarter of 2022-23 fiscal. Total income rose to Rs 35,990 crore in the March quarter of 2023-24 fiscal, from Rs 28,758 crore in the year-ago period. The bank's Net Interest Income (NII) grew 11 per cent Year-on-Year (YoY) to Rs 13,089 crore. For 2023-24 fiscal, the net profit jumped 160 per cent to Rs 24,861 crore. The numbers for the March quarter of 2022-23 fiscal and the full fiscal include the impact of exceptional items relating to the Citibank business acquisition, Axis Bank said. Its balance sheet grew 12 per cent YoY to Rs 14,77,209 crore as on March 31, 2024. The bank issued 1.24 million new credit cards in the March quarter of FY24 and has been one of the highest credit card issuers in the country over the last nine quarters, Axis Bank said in a regulatory filing. The bank's bo

Nippon Life AMC Q4 results: Profit after tax jumps 73% to Rs 343 crore

Nippon Life India Asset Management Ltd on Wednesday reported its highest-ever quarterly profit after tax (PAT) at Rs 343 crore for the March quarter, marking a 73 per cent jump from the year-ago period. The company had posted a PAT of Rs 198 crore in the year-ago period, the asset management firm said in a stock exchange filing. Total income rose to Rs 560.57 crore during the fourth quarter of FY24 from Rs 388.03 crore in the year-ago period. Reacting to the strong quarterly performance, shares of Nippon Life India Asset Management surged 11 per cent to hit their 52-week high at Rs 623.40 in the intra-day trade on the BSE. Also, the company's board has recommended a final dividend of Rs 11 per equity share for the financial year ended March 31, 2024. With this, the total dividend for 2023-24 will be Rs 16.50 per share, including the interim dividend of Rs 5.50 apiece distributed in November 2023. Nippon Life India Asset Management is the asset manager of Nippon India Mutual Fund.