Page 23 - Corporate Earnings

BGR Energy Q3 results: Loss widens to Rs 691 cr, income almost doubles

BGR Energy Systems' loss widened to Rs 691.38 crore in the December quarter compared to the year-ago period mainly due to higher expenses. The consolidated net loss of the company was Rs 59.22 crore in the quarter ended on December 31, 2022, a BSE filing showed. Total expenses rose to Rs 1,031.38 crore in the quarter from Rs 334.29 crore in the same period of the last fiscal. Total income rose to Rs 472.68 crore in the quarter from Rs 258.02 crore in the same period a year ago. In another filing, the company stated that P R Easwar Kumar President & Chief Financial Officer has resigned on February 8, 2024. S Krishna Kumar President & Company Secretary/Compliance Officer has also resigned on February 9, 2024.

Nabard Q3 results: Net profit rises 34% to Rs 4,495 crore, income up 25%

The national developmental bank Nabard has reported a 34 per cent on-year rise in net profit at Rs 4,495 crore for the 2023 December quarter, helped by robust income growth and balance sheet expansion. In the year-ago period, it had booked Rs 3,345 crore in post tax profit. The bottom line expansion was led by a margin increase of 18 basis points to 1.53 per cent, a marginal improvement in gross bad loans at 0.27 per cent and zero net Non Performing Assets (NPAs). Total income of the bank rose 25 per cent to Rs 35,503 crore in the latest December quarter from Rs 28,463 crore. During the same period, expenses increased 23 per cent to Rs 29,496 crore from Rs 24,042 crore, its chairman Shaji K V told PTI on Wednesday. The city-headquartered bank saw its assets size rising 15 per cent to Rs 8,31,091 crore as of December 2023 and the chairman said the same is likely to cross Rs 9.05 lakh crore by March end. Of the total assets, its own funds rose 10 per cent to Rs 71,261 crore. On the

Shriram Properties Q3 result: PAT dips 17% to Rs 18 cr, income at Rs 240 cr

Shriram Properties Ltd on Wednesday reported a 17 per cent decline in profit after tax at Rs 18.48 crore in the quarter ended December 2023 and announced its entry into the Pune market with a real estate project worth Rs 1,300 crore. The company's net profit stood at Rs 22.36 crore in the year-ago period. The total income rose to Rs 240.57 crore in the third quarter of this fiscal, from Rs 222.01 crore in the corresponding period of the previous year, according to a regulatory filing. Shriram Properties said it is planning an entry into the Pune region, and has signed a Development Management (DM) agreement for the development of a residential project in Undri, Pune. The company has secured development rights under the DM model, and the project envisages the development of over 1.7 million square feet of residential area and 0.3 million square feet of commercial area. The project has sales value potential of over Rs 1,300 crore and is to be executed over the next 3-4 years, Shrira

NSE Q3 results: Profit rises 8% to Rs 1,975 cr, income at Rs 3,517 cr

The National Stock Exchange (NSE) on Saturday reported an 8 per cent rise in consolidated net profit to Rs 1,975 crore for three months ended December 2023. The consolidated income from operations stood at Rs 3,517 crore for the October-December quarter of the current financial year (2023-24), a surge of 25 per cent year-on-year, NSE said in a statement. Apart from trading, the total revenue was also supported by other revenue lines, including listing, index services, data services and co-location facility, the exchange added. During the first nine months of FY24, NSE contributed Rs 28,131 crore to the exchequer, which comprised STT (Securities Transaction Tax) of Rs 23,137 crore, Income tax (Rs 1,490 crore), Stamp duty (Rs 1,456 crore), GST (Rs 1,257 crore) and Sebi charges (Rs 791 crore). On the trading volumes front, cash markets recorded an average daily traded volumes (ADTVs) of Rs 80,512 crore, a growth of 50 per cent on a year-on-year (YoY) basis, equity futures reached an A

Walt Disney's stock soars on strong results ahead of face-off with Peltz

The entertainment giant issued an upbeat profit outlook for the year, giving Chief Executive Officer Bob Iger ammunition to deflect proxy challenges at its shareholder meeting this spring

Surya Roshni Q3 results: Net profit at Rs 90 crore; revenue falls 4%

Lighting products and pipe maker Surya Roshni Ltd on Thursday reported a muted growth in consolidated net profit at Rs 90.10 crore in the third quarter ended December 2023 on account of slowdown of demand. It had posted a consolidated net profit of Rs 89.66 crore in the October-December period a year ago, according to a regulatory filing from Surya Roshni. Its revenue from operations was down 4.13 per cent to Rs 1,937.80 crore during the quarter under review. It was at Rs 2,021.28 crore in the corresponding quarter. "The company reported a slight dip in revenue on account of slow down of demand of high value-added products in steel pipes business and flattish growth in lighting and consumer durables segment," the company said in an earnings statement. Total expenses of Surya Roshini were at Rs 1,820.52 crore, down 4.15 per cent in the December quarter. Surya Roshni's total income in the December quarter was at Rs 1,941.56 crore, down 3.98 per cent. Revenue from steel pipe and str

Global Health Q3 results: Profit up 52% at Rs 123 cr, revenue at Rs 833 cr

Global Health, which operates hospitals under the Medanta brand, on Thursday reported a 52 per cent increase in consolidated net profit at Rs 123 crore for the third quarter ended December 2023 on the back of increased in-patient volume and improved realisation. The healthcare provider had reported a net profit of Rs 81 crore in the year-ago period. Revenue from operations rose to Rs 833 crore in the third quarter of the current fiscal from Rs 694 crore in the year-ago period, the Gurugram headquartered firm said in a regulatory filing. "In Q3 FY2024, both our matured and developing units delivered robust revenue growth of 17 and 33 per cent year-no-year respectively," Global Health Ltd Group CEO and Director Pankaj Sahni said. The growth was primarily driven by increased in-patient volume and improved realisation, he added.

Aster DM Healthcare Q3 results: Profit rises 28.6% to Rs 179 crore

Consolidated net profit for the third quarter rose 28.6% to Rs 179 cr ($21.6 million), the company said on Thursday

Ramco Cements Q3 results: Profit rises 39% to Rs 93.38 cr, misses view

Heavy rainfall in Tamil Nadu state due to cyclone Michaung and Telangana state polls hindered demand in southern India, from where it derived 75% of its sales volumes in the last quarter

Bombay Dyeing Q3 results: Profit at Rs 3,054 crore on gain from land sale

The Mumbai-based company's primary revenue-generating segment, polyester, which accounted for about 95% of its revenue, fell by 11%

HCC Q3 results: Profit at Rs 233 crore, expenses fall to Rs 1,412 cr

Hindustan Construction Company (HCC) on Thursday reported a consolidated profit of Rs 233.22 crore in the December quarter. The company had clocked a net loss of Rs 283.72 crore in the year-ago period, the company said in a BSE filing. Its total income in the third quarter of the ongoing fiscal rose to Rs 1,512.30 crore, as against Rs 1,359.51 crore in the corresponding period of the last fiscal. Total expenses declined to Rs 1,412.43 crore in the period under review from Rs 1,759.54 crore in the year-ago period. HCC in a statement said the company received provisional completion certificates for the Sawalkot Tunnel project in the third quarter. In NH34 package 3, all the works have been completed, and final commercial operation has been awarded for the remaining stretch of 9.8 km, it added. According to the company, three more projects, including two in Jammu & Kashmir, are in advanced stages of completion. The major hydro projects of Tehri and Vishnugad Pipalkoti in Uttarakhan

Torrent Power Q3 results: Net profit declines by 46% to Rs 374 crore

Torrent Power on Thursday reported a 46 per cent dip in its consolidated net profit to Rs 374 crore in the December quarter compared to the year-ago period mainly due to lower revenues. The company reported a net profit of Rs 695 crore in the third quarter of FY 2022-23, a company statement said. Revenue from operations stood at Rs 6,366 crore in the December quarter of FY2023-24 compared to Rs 6,443 crore in Q3 of FY 2022-23. Earning before interest, depreciation and tax (EBIDTA) for Q3 of FY 2023-24 was lower due to a reduction in net gain from trading of LNG and merchant power sales by Rs 478 crore compared to the corresponding quarter of last year. Adjusted for the above gain in the third quarter of FY 2022-23, adjusted earnings before interest, depreciation and tax (EBIDTA) and PAT for Q3 FY 2023-24 were higher by Rs 49 crore and Rs 31 crore respectively as compared to Q3 FY 2022-23, it stated. The major reasons for higher adjusted PAT for the quarter on y-o-y basis include a

Thomson Reuters results: Revenue rises 3% to $1.8 bn, beats expectations

The Toronto-based news and information provider reported a fourth-quarter revenue rise of 3% to $1.8 billion, largely in line with analyst estimates, according to LSEG data

Honeywell Automation Q3 results: Profit jumps to Rs 128 cr on govt spending

Profit at the Indian arm of U.S.conglomerate Honeywell International was Rs 128 crore ($15.4 million) for the three months ended Dec. 31, compared with 1.06 billion rupees a year earlier

Power Finance Corporation Q3 result: Net profit rises 20% to Rs 6,294 crore

State-owned Power Finance Corporation on Thursday said it has posted an over 20 per cent rise in its consolidated net profit to Rs 6,294.44 crore in the December quarter, on the back of higher revenues. The company's consolidated net profit was Rs 5,241.10 crore in the quarter ended on December 31, 2022, according to a BSE filing. Total income in the quarter rose to Rs 23,593.40 crore from Rs 19,662.65 crore in the same period a year ago. The board, in its meeting on Thursday, approved the declaration of a second interim dividend at the rate of 35 per cent, of Rs 3.50 per equity share, subject to deduction of TDS, on the face value of the paid-up equity shares of Rs 10 each for FY 2023-24. The date of payment /dispatch of the interim dividend shall be on or before March 9, 2024, the filing said. In a separate statement, the company said it has registered a 19 per cent rise in consolidated loan asset book from Rs 8,04,526 crore as on December 31, 2022, to Rs 9,54,483 crore as on ..

BEML Q3 results: Profit up marginally at Rs 66.85 cr on higher expenses

The state-owned company reported a consolidated profit before tax of Rs 66.85 crore ($8.1 million) in the quarter ended Dec. 31, up nearly 1% year-on-year

Apollo Hospitals Q3 results: Profit rises marginally to Rs 245 crore

The hospital chain operator's consolidated net profit rose 59% to Rs 245 crore ($29.5 million) in the three months ended Dec. 31, beating analysts' average estimate of Rs 240 crore, as per LSEG data

Power Grid Corporation Q3 results: Net profit rises 11% to Rs 4,028 crore

State-owned Power Grid Corporation on Wednesday posted a 10.5 per cent rise in consolidated net profit to Rs 4,028.25 crore in the December quarter, mainly on the back of higher revenues. Its consolidated net profit stood at Rs 3,645.29 crore in the year-ago period, the company said in a regulatory filing. Total income increased to Rs 11,819.70 crore in the third quarter of FY24 from Rs 11,530.22 crore a year ago. The company's board of directors, in their meeting on Wednesday, approved the payment of second interim dividend of Rs 4.50 per equity share of Rs 10 each (at the rate of 45 per cent of the paid-up equity share capital) for 2023-24. The second interim dividend shall be paid to members on March 5, 2024.

Tata Consumer Q3 result: Profit rises 27% to Rs 513 crore on festive demand

The company reported a consolidated profit before exceptional items and tax of 5.13 billion rupees ($61.8 million) in the quarter ended Dec. 31, up 27% from the year-ago period

Varroc Engineering Q3 results: PAT at Rs 384 cr, revenue rises 9.4%

Auto parts supplier Varroc Engineering on Wednesday reported a consolidated Profit After Tax (PAT) of Rs 383.9 crore in the December quarter, primarily driven by a tax benefit of Rs 313.1 crore. The company had reported a consolidated PAT of Rs 21.8 crore in the year-ago period. The revenue for the quarter rose 9.4 per cent to Rs 1,884.6 crore from Rs 1,722.8 crore a year back, the company said in a statement. The massive surge in PAT was on account of tax benefit amounting to Rs 313.1 crore, it said. "The tax benefit has come as we have written off the impairment-related losses pertaining to loan given to overseas entity of four-wheeler lighting business in Europe and America," Varroc said. "Despite de-growth in overseas markets in the quarter, the overall revenue from operations grew 9 per cent year-on-year to Rs 18,846 million, the reported PBT (Profit Before Tax) was Rs 708 million, which includes profit from our joint venture of Rs 250.7 million," Varroc Engineering Ltd CMD .