Page 22 - Corporate Earnings

Downside risk in Persistent Systems remains despite price correction

Margins were impacted by one-time transition costs due to onsite ramp-up using subcontractors, lower utilisation on account of lateral hiring for ramp-up and higher travel expenses

Brokerages raise targets on RIL stock post Q4; check latest prices here

The bullish outlook stems from Reliance Jio's potential tariff hikes, given the competitive landscape, along with slow but steady improvement in the oil-to-chemical (O2C) vertical

Tata Elxsi Q4 results: Profit declines 2% to Rs 196.93 cr, misses estimates

Tata Elxsi, a provider of design-led technology services, on Tuesday reported a 2.2 per cent decline in net profit at Rs 196.93 crore in the fourth quarter ended in March. The company had posted a net profit of Rs 201.51 crore in the same period of the previous fiscal, Tata Elxsi said in a regulatory filing. Revenue from operations in the quarter under review stood at Rs 905.94 crore as against Rs 837.91 crore in the year-ago period, it added. The company said its total expenses were higher at Rs 677.21 crore compared to Rs 613.39 crore a year ago. For the fiscal ended March 31, 2024, the company's net profit was Rs 792.23 crore over Rs 755.19 crore reported in FY23, it said. In FY24, revenue from operations stood at Rs 3,552.14 crore from Rs 3,144.72 crore a year ago, the company said. The company's board has recommended a final dividend of 700 per cent, which is Rs 70 per equity share of par value of Rs 10 each, for the financial year ended March 31, 2024, subject to approval b

ICICI Prudential Life Insurance Q4 results: PAT declines 26% to Rs 174 cr

The decline in VNB margin is primarily on account of the shift in the underlying product mix towards unit-linked business, the company said in an exchange filing

Hatsun Agro Q4 results: Profit after tax rises over 100% to Rs 52.16 crore

Dairy and dairy products maker Hatsun Agro has reported a 108.76 per cent rise in its January-March 2024 quarter profit after tax at Rs 52.16 crore, the company said on Tuesday. The city-based company had registered a profit after tax of Rs 24.99 crore in the same period last year. Revenues during the quarter under review grew to Rs 2,046.87 crore as against Rs 1,789.46 crore registered in the same period of last year. For the financial year ending March 31, 2024, the profit after tax surged by 61.15 per cent to Rs 267.29 crore from Rs 165.86 crore registered in the same period of last fiscal. Revenue for the year ending March 31, 2024, grew by 10.26 per cent to Rs 7,990.40 crore from Rs 7,246.97 crore registered a year ago. In a statement, the company said normalcy has been restored during the second half of 2023-24, on procurement and sales of milk as it was impacted due to the COVID-19 pandemic for two years. Commenting on the financial performance, Hatsun Agro Product Ltd Cha

Kesoram Q4 results: Net loss widens to Rs 244 crore, sales marginally up

B K Birla Group company Kesoram Industries Ltd posted a consolidated net loss of Rs 244.42 crore for the quarter ended March 2024, despite higher sales. The cement maker's net loss in the fourth quarter of the 2023-24 fiscal (FY'24) has widened from Rs 48.86 crore in the corresponding quarter of the previous year. Consolidated sales during the quarter under review stood at Rs 1,073 crore as against Rs 960 crore registered in Q4 FY'23, the company said in a regulatory filing. The net loss in 2023-24 nearly doubled to Rs 384 crore as compared to the Rs 194 crore loss posted in the previous year. Cement accounts for almost 94 per cent of its total revenue, while the rest comes from segments like rayon, transparent paper, and chemicals. Company officials attributed the loss in the January-March quarter to higher costs and the repayment of its high-cost NCDs of Rs 1,683 crore as part of swapping its debt. Kesoram Industries has decided to sell its cement business to UltraTech Cement f

HUL to HDFC Bank and ITC: These 10 NSE 200 stocks may zoom 20-40% in a year

Here are 10 stocks, covered by at least 10 brokerages, which are most likely to zoom based on their price target over the next year

Arya.ag FY24 results: Profit up 37% at Rs 17 cr despite weather challenges

Agri-tech platform Arya.ag on Monday posted 37 per cent rise in net profit at Rs 17 crore for 2023-24 despite weather-related hurdles and challenges posed by policy changes. The company had reported a net profit of Rs 12.4 crore in 2022-23. Net revenue increased to Rs 360 crore during 2023-24 from Rs 297 crore in the previous year, the company said in a statement. The platform facilitated Rs 22,796 crore worth of commodities, disbursed Rs 12,895 crore with nearly zero NPAs, and enabled commerce worth Rs 4,523 crore during 2023-24, it said. "In a year fraught with policy changes and weather-related hurdles, Arya.ag has not only weathered the storm but thrived, posting impressive financial results for fiscal year 2023-24," it added. In the coming financial year, Arya.ag said,"Given the climate-induced stress in agriculture, we will work with farmers, Farmers Producer Organisations (FPOs) and climate champions' to build trust, optimise resource allocation, and minimise adverse ...

Gap in stock prices, corporate earnings at highest level since 1990

Analysts attribute the growing divergence between stock price and corporate earnings to the valuation-driven rally

Are the stock markets prepared for a delay in interest rate cut?

As regards rate cuts, analysts expect the global central banks, especially in Asia, to follow the Fed in rate cutting cycle

This Madhuri Kela-owned stock has surged 59% in 12 days; up 729% in 1 year

Transformers and Rectifiers (India) hit the 5 per cent upper circuit on Tuesday after the company reported 4-fold jump in Q4 net profit at Rs 35.95 crore.

HITES registers 31% increase in net profit at Rs 32.86 crore in FY24

HLL Infra Tech Services Ltd (HITES) has reported a 31 per cent jump in net profit to Rs 32.86 crore in 2023-24 compared to Rs 25 crore in FY23 on higher revenue from the infrastructure division, the Health Ministry said on Wednesday. The total turnover of the central public sector undertaking under the Health Ministry rose by 17.18 per cent to Rs 425.10 crore in 2023-24 against Rs 362.77 crore in 2022-23, the ministry said. "These significantly positive results were achieved largely due to the infrastructure development business which saw the execution of the new All India Institute of Medical Sciences (AIIMS) at Bibinagar (Telangana) and Rewari (Haryana)," the ministry said. Besides, the company also executed projects of upgradation of medical colleges and hospitals at Alibagh and Nandurbar, Maharashtra, and other healthcare and allied projects at various locations pan India. The company also provided medical equipment procurement and facility management services in the last fisca

Hotel stocks rally up to 9% in weak market on hopes of strong earnings

Analysts at Emkay Global see the strength in hospitality industry sustaining in March (Q4)/June (Q1) quarter, based on their channel checks, with year-on-year (YoY) improvement in average room rates.

Magadh Sugar Q3 results: Net profit rises 77.3%, income at Rs 219 cr

Magadh Sugar & Energy, a part of the KK Birla group, on Wednesday reported a 77.3 per cent increase in its net profit to Rs 39 crore in the third quarter of the current financial year. The company had posted a Rs 22 crore profit in the same period previous fiscal. The total income of the company stood at Rs 219 crore at the end of the September-December quarter, registering a rise of 4.2 per cent over Rs 210 crore in the year-ago period, a company statement said. Its earnings before interest, taxes, depreciation and amortisation (EBITDA) stood at Rs 62 crore at the end of the quarter under review as against Rs 45 crore in the same period in the previous financial year. Magadh Sugar & Energy chairperson C S Nopany said, "In the light of recent government notifications, including a rise in sugar cane prices in Bihar, and adjustments to ethanol procurement targets, challenges have increased. Amidst these challenges, the company remains steadfast in leveraging synergies and ...

ABB India result: PAT grows to Rs 345 cr, revenue at Rs 2,757 cr in Dec qtr

Electrification and automation major ABB India on Tuesday posted around 13 per cent rise in profit after tax to Rs 345 crore in fourth quarter ended December 31, mainly on the back of higher revenues. It had clocked Rs 306 crore PAT (profit after tax) during the October-December period of the preceding fiscal, the company said in a statement. The company follows January to December as a financial year. Total revenue of the company rose to Rs 2,757 crore in the quarter under review, from Rs 2,427 crore in the same quarter a year ago. In the fourth quarter, total orders rose up by 35 per cent to Rs 3,147 crore. In 2023, the company received orders worth Rs 12,319 crore, up 23 per cent over 2022. For the entire fiscal, the company's PAT was at Rs 1,248 crore, up over Rs 1,026 crore from last financial year. While the revenues surged to Rs 10,447 crore, from Rs 8,568 crore a year ago. "Our broad-based growth has come on the back of deepening engagement into diverse market segments an

ReNew Q3 results: Loss narrows to Rs 321 cr, revenue rises to Rs 1,929 cr

ReNew on Tuesday said its net loss narrowed to Rs 321.6 crore during the quarter ended December 31, 2023. It had posted a net loss of Rs 401.3 crore during the October-December period of the preceding 2022-23 financial year, the renewable energy firm said in a statement. The company's total revenue rose to Rs 1,929 crore, from Rs 1,607.7 crore in the year-ago period. The earnings before interest, taxes, depreciation, and amortization (EBITDA) was Rs 1,250.9 crore in the quarter under review, as against Rs 1,162.8 crore the third quarter last fiscal. As of December 31, 2023, the company's portfolio consisted of 13.8 GW capacity, of which 8.5 GW is commissioned and 5.3 GW committed capacity, compared to 13.4 GW capacity as of December 31, 2022. During the April-December period, the net profit was at Rs 353.8 crore. The company had reported a net loss of Rs 510.3 crore in the first nine months of FY23. Total income was at Rs 7,241.4 crore in the first nine months of this financial y

Margin gains propel India Inc's Q3 profit despite revenue slowdown

The combined earnings were, however, up only marginally from Rs 3.15 trillion reported in Q2FY24 as well Q4FY23

EPACK Durable Q3 results: Net profit at Rs 4.83 cr, revenue at Rs 279 cr

EPACK Durable Ltd on Thursday reported Rs 4.83 crore consolidated net profit for the third quarter ended December 2023. The company had posted a net loss of Rs 6.30 crore during the October-December quarter a year ago, EPACK Durable said in a regulatory filing. Its revenue from operations was Rs 279.05 during the quarter under review. In the year-ago period, the company's revenue from operations stood at Rs 275.61 crore. This is the first quarterly result of the Noida-based original design manufacturer (ODM) after its listing on January 30, 2024. Its total expenses were Rs 273.92 crore in the December quarter. Shares of EPACK Durable Ltd on Thursday settled at Rs 186.30 on the BSE, up 2.59 per cent.

HGS Q3 results: Net profit tanks 84% to Rs 8.2 crore, revenue up 8%

Hinduja Global Solutions (HGS) on Wednesday reported a 84 per cent decline in consolidated net profit to Rs 8.2 crore for the December quarter. The company's net profit stood at Rs 51.6 crore in the year-ago period. Its revenue from operations, however, grew 7.55 per cent to Rs 1,203.6 crore in the third quarter of the ongoing fiscal from Rs 1,119.1 crore a year ago. The revenues were led by the company's BPM (Business Process Management) services, which raked-in a revenue of Rs 925.55 crore, according to the company. "Despite a challenging global macro-environment, HGS posted a resilient performance in the third quarter, continuing to build on our efforts to improve our topline and margins," Partha DeSarkar, Group CEO of HGS, said. DeSarkar added, "We saw a strong total revenue increase of 11.2 per cent year on year, led by growth in Canada, TekLink, and offshore businesses. Operating EBITDA (excluding other income) grew significantly by 39.9 per cent year-on-year and 18.1 per ce

Genesys Q3 results: PAT almost doubles at Rs 15.86 cr, revenue rises 9%

Digital mapping firm Genesys on Wednesday posted a net profit of Rs 15.86 crore for the December quarter. The company had posted a profit after tax of Rs 7.86 crore in the year-ago period. Genesys posted a 9 per cent rise in consolidated revenue to Rs 59.33 crore during the third quarter of the ongoing fiscal from Rs 54.42 crore a year ago. "This quarter has been highly successful for us as our 3D mapping and digital twin content platform are rapidly gaining traction, evident from our current business performance," Genesys International Chairman and Managing Director Sajid Malik said. "We've achieved significant milestones recently, including our partnership with Survey of India to revolutionise Indian mapping by creating digital twins of indian cities," Malik added.