Page 24 - Corporate Earnings

JK Paper Q3 results: Net profit falls 29% to Rs 236 cr on raw material cost

JK Paper Ltd on Thursday reported a 29.13 per cent decline in its consolidated net profit to Rs 236.36 crore for the third quarter ended December 2023, impacted by the rise in raw material cost and weak demand scenario. The company had posted a net profit of Rs 333.54 crore in the October-December quarter a year ago, according to a regulatory filing from JK Paper. The company is engaged in branded copier paper, coated paper and packaging boards. Its total income rose 4.15 per cent to Rs 1,762.32 crore during the quarter under review. It was Rs 1,692.06 crore in the corresponding quarter a year ago. "The results have been impacted due to an overall drop in sales realisation and a substantial increase in wood cost. The selling prices have been under pressure for some time due to rising trend in imports, coupled with weaker demand scenario," said Vice Chairman and Managing Director Harsh Pati Singhania. The total expenses surged 20.66 per cent to Rs 1,497.55 crore in the December 202

Apollo Tyres Q3 results: Profit surges 70% to Rs 736 crore, revenue up 2.7%

Consolidated pre-tax profit before exceptional items was Rs 736 crore (around $89 mn) in the quarter ended Dec 31, compared with Rs 424 crore a year earlier

Sobha Q3 results: Profit declines more than 50% to Rs 15.08 crore

Consolidated net profit for the Bengaluru-based company was Rs 15.08 crore ($1.8 million) in the quarter ended Dec 31, compared with Rs 31.81 crore a year earlier

Kalpataru Projects Q3 results: Profit rises over 32% to Rs 144 crore

Engineering major Kalpataru Projects International (KPIL) on Wednesday reported over 32 per cent jump in its consolidated net profit to Rs 144 crore in December quarter compared to a year ago mainly on the back of higher revenues. Its profit stood at Rs 109 crore in the quarter ended on December 31, 2022, a regulatory filing showed. Total income increased to Rs 4,910 crore in the December quarter from Rs 4,006 crore in the same period a year ago. The board in its meeting on Wednesday, approved the proposal for issuance of secured/unsecured redeemable Non-Convertible Debentures up to Rs 300 crores by the company in one or more tranches. The company said in a separate statement that it received new orders of Rs 380 crores in Q4 FY24 till date and YTD (Year to Date) FY24 order inflows stand at Rs 18,065 crores. The order book at Rs 51,753 crores as on December 31, 2023, an increase of 25 per cent YoY (Year on Year). Manish Mohnot, MD & CEO, KPIL said,"KPIL has delivered another ...

Trent Q3 results: Net profit rises two-fold to Rs 370.6 cr, revenue up 50%

Tata Group retail firm Trent Ltd on Wednesday reported a two-fold rise in consolidated net profit to Rs 370.64 crore for the third quarter ended December 2023, helped by strong momentum in sales and improved margins. The company had posted a consolidated net profit of Rs 154.81 crore a year ago, Trent Ltd said in a regulatory filing. Trent Ltd operates retail stores under the brand name Westside, Zudio and Star. Its consolidated revenue from operations surged 50.5 per cent to Rs 3,466.62 crore during the quarter under review. It was Rs 2,303.38 crore in the year-ago period, it added. Trent's total expenses rose 41.64 per cent in the December quarter to Rs 3,101.44 crore. "Across formats, we continued to register consistent growth, serving as a reaffirmation of our strategic choices. Our operating discipline, coupled with a focus on the speed of execution, supported our expansion agenda. Change in the revenue profile across formats remains aligned with our strategic objectives and

Spotify Q4 results: Revenue up 16% at $3.94 bn, user growth beats estimates

The Swedish music streaming company has ventured into podcasts and audiobooks as it seeks to grow its user base to 1 billion by 2030

EIH Q3 results: Net profit up 54.6% to Rs 229.9 crore, income up 27.6%

EIH Limited, the flagship company of luxury hotel chain The Oberoi Group, on Tuesday reported a consolidated profit after tax of Rs 229.94 crore in the third quarter ended December, up 54.6 per cent from Rs 151.08 crore in the year-ago period. Total income increased to Rs 769.87 crore, registering a growth of 27.6 per cent from Rs 603.22 crore in the corresponding quarter of the previous financial year, a regulatory filing showed. The company's total expenses rose to Rs 456.01 crore during the quarter under review, from Rs 415.99 crore a year ago.

Akzo Nobel India Q3 results: Net profit rises 16.8% to Rs 114 crore

Paints and coatings maker Akzo Nobel India Ltd on Tuesday reported a 16.83 per cent increase in its consolidated net profit to Rs 113.8 crore in the December quarter, helped by a double-digit growth in volumes and raw material deflation. The company posted a net profit of Rs 97.4 crore during the October-December quarter a year ago, according to a regulatory filing. Its revenue from operations grew 4.65 per cent to Rs 1,032.7 crore during the quarter under review. It was Rs 986.8 crore in the corresponding period of the previous fiscal. Total expenses of Akzo Nobel, maker of Dulux paints, rose 2.53 per cent to Rs 889.6 crore in the December quarter. Akzo Nobel's total income in the third quarter was Rs 1,041.1 crore, up 4.19 per cent. "For the first time, our quarterly topline has surpassed the milestone of Rs 1,000 crore mark, led by double-digit growth in volumes. Our Coatings business and B2B segments sustained their robust growth trajectory," its Chairman and Managing Director

Berger Paints Q3 results: Net profit jumps 49% to Rs 300 cr, revenue up 7%

Berger Paints on Tuesday posted a 49 per cent year-on-year increase in its consolidated net profit to Rs 300.16 crore for the third quarter of the current financial year. Revenue from operations also grew by 7 per cent to Rs 2,881.83 crore during the October-December period, the company said in a regulatory filing. Earnings before interest, taxes, depreciation and amortisation (EBITDA), excluding other income, witnessed an increase of 37.3 per cent to Rs 480 crore during the period under review as compared to the corresponding quarter last year. "The quarter witnessed strong growth on the volume front and robust increase in operating profits," Berger Paints MD & CEO Abhijit Roy said. The growth rates in tier 2 and tier 3 cities were higher than that of tier 1 cities, he said. The paint maker continued with its "aggressive growth" in the waterproofing and construction chemicals segment. "New product introductions were made in the sealants and roof waterproofing category to fortify

Affle Q3 results: Net profit up 11% at Rs 76.8 cr, revenue increases by 33%

Tech company Affle on Saturday reported an 11.36 per cent increase in its consolidated net profit to Rs 76.81 crore for the October-December quarter of 2023-24 compared to Rs 68.97 crore in the year-ago period. The company's revenue from operations rose to Rs 498.70 crore in the third quarter (Q3) of FY24 from Rs 376.06 crore in Q3 of FY23, translating into a 32.61 per cent hike, a statement said. The company said that its Earning Before Interest Tax Depreciation and Amortisation (EBITDA) stood at Rs 96.7 crore in the quarter, up by 20.3 per cent year-on-year. Anuj Khanna Sohum, MD and CEO, Affle, said, "In Q3 FY2024, we have further raised our performance bar having achieved our highest quarterly revenue run-rate, highest EBITDA, PAT and consumer conversions till date. "We continue to witness a robust market opportunity as advertisers steadily accelerate their digital spending, resulting in a broad-based growth in our CPCU business, coming across our top industry verticals ...

Salasar Techno Engineering Q3 results: Net profit grows to Rs 17 cr

Salasar Techno Engineering Ltd (STEL) on Saturday reported a 56 per cent rise in its consolidated net profit to Rs 16.76 crore for the December quarter. It had posted a net profit of Rs 10.69 crore during the October-December quarter in 2022-23, the company said in an exchange filing. The company's total income rose to Rs 304.35 crore from Rs 240.93 crore in the year ago period. Its expenses were at Rs 281.22 crore as against Rs 226.54 crore in the third quarter last fiscal. New Delhi-based STEL is a steel structural manufacturer and EPC infrastructure company, providing services across telecom, energy and railways.

Reliance Power Q3 results: Net loss rises to Rs 1,136.7 cr on high expenses

Reliance Power Ltd on Saturday reported widening of its consolidated net loss to Rs 1,136.75 crore during the quarter ended December 2023, due to increased expenses. It had posted a net loss of Rs 291.54 crore during the October-December period of preceding 2022-23 financial year, the company said in an exchange filing. The company's total income increased marginally to Rs 2,001.54 crore in the reporting quarter compared to Rs 1,936.29 crore in the year-ago quarter. The company's expenses surged to Rs 3,179.08 crore in the quarter from Rs 2,126.33 crore a year ago. Reliance Power is the country's leading private sector power generation and coal resources company.

Castrol Q4 results: Net profit rises 25% to Rs 242 crore on healthy demand

Castrol India's profit after tax came in at 2.42 billion rupees ($29.2 million), up from 1.93 billion rupees a year ago, it said in an exchange filing

RITES Q3 results: Profit drops 13% to Rs 129 cr, income at Rs 699 cr

RITES Ltd on Thursday reported 12.5 per cent drop in consolidated profit at Rs 128.78 crore for the quarter ended December 31, 2023. The company had posted a profit of Rs 147.18 crore for the year-ago period, RITES said in a filing to BSE. Income dropped to Rs 699.85 crore from Rs 703.38 crore in the year-ago period, the filing said. The sequential progress is in line with the direction that we had strategised in the beginning of the FY, in having received an export order after a long gap, sustained growth in our project consultancy revenue and steady growth in our EBITDA," RITES Ltd Chairman and Managing Director Rahul Mithal said. RITES Ltd, an enterprise under Ministry of Railways, is a multidisciplinary engineering and consultancy organization, providing a comprehensive range of services from concept to commissioning in all facets of transport infrastructure and related technologies.

V-Guard Q3 results: Profit rises 48% to Rs 58.24 crore, beats estimates

Consolidated net profit rose 48% to 582.4 million rupees ($7 million) in the quarter ended Dec. 31 from a year earlier. Analysts, on average, had expected a profit of 555.1 million rupees

HeidelbergCement India Q3 results: Net profit rises to Rs 31.47 crore

HeidelbergCement India Ltd on Wednesday reported an increase in net profit to Rs 31.47 crore for the December quarter, aided by reduction in operating costs. The company had reported a net profit of Rs 5.58 crore in the year-ago period, HeidelbergCement India said in a regulatory filing. Its total revenue from operations was up 12.4 per cent to Rs 607.13 crore in the third quarter of the ongoing fiscal. It was Rs 540.12 crore in the corresponding quarter of the previous fiscal. "Revenue increased 12 per cent compared to the corresponding quarter of the previous year, driven by 10 per cent volume growth and 2 per cent price increase," the company said in an earning statement. Its operating costs on a per-tonne basis, including freight "decreased 2.4 per cent year-on-year primarily due to decrease in coal and petcoke costs". HeidelbergCement India's total expenses in the December quarter were Rs 577.58 crore, up 6.43 per cent. In the December quarter, HeidelbergCement's sales volum

IRB Infra Q3 results: Net profit rises by 32.49% to Rs 187.42 crore

IRB Infrastructure Developers Ltd on Wednesday reported a 32.49 per cent rise in its consolidated net profit to Rs 187.42 crore for the quarter ended December 2023. The company had clocked a net profit of Rs 141.35 crore during the year-ago quarter, IRB Infrastructure Developers said in a BSE filing. Its total income during October-December 2023 rose to Rs 2,077 crore from Rs 1,570 crore a year ago. The firm's expenses increased to Rs 1,783 crore from Rs 1,351 crore. The company, in a statement, said its private InvIT associate was awarded TOT-12 and TOT-13 projects in Madhya Pradesh and Rajasthan.

JSPL Q3 results: Profit jumps to Rs 1,923 cr, income down at Rs 11,736 cr

Steel maker Jindal Steel and Power Ltd (JSPL) on Wednesday posted close to a four-fold jump in consolidated profit to Rs 1,923 crore in the December quarter, aided by reduced expenses. It had clocked a "total profit" of Rs 518.27 crore in the year-ago period, the company said in an exchange filing. The company's total income fell to Rs 11,736.40 crore from Rs 12,469.50 crore in the year-ago quarter. JSPL trimmed expenses to Rs 9,809.57 crore from Rs 11,028.27 crore in the October-December period of the last fiscal. In a statement, JSPL Chairman Naveen Jindal said, "We achieved several important milestones during the quarter, which includes commissioning of the Utkal C thermal coal mines, state-of-the-art hot strip mill and International EPD certifications for Hot Rolled plates/coils and structural steel." "This demonstrates both our commitment and capability to execute the capex plan which will surely make us one of the most cost efficient and eco-friendly steel companies in India

H&M's top leader steps down in surprise move after disappointing earnings

H&M's top executive unexpectedly stepped down on Wednesday and the company's stock plunged as the fashion giant reported a drop in sales over the holiday shopping season. Helena Helmersson resigned after four years as CEO and 26 years at the company, saying she was proud of the work done over the past few years, including navigating the COVID-19 pandemic, but that it has been very demanding at times for me personally. She was replaced by Daniel Ervr, who was in charge of the H&M brand and has worked for the Swedish clothing retailer for 18 years. "Our focus will be on offering our customers the best combination of fashion, quality, price and sustainability in an inspiring and attractive shopping environment, Ervr said in a statement. H&M shares fell as much as 11 per cent after the announcement and news that its latest earnings missed analyst expectations. For the last three months of 2023, operating profit margin fell to 7.2 per cent from 7.8 per cent in the previous ...

Shree Cement Q3 resuls: Net profit rises two-fold to Rs 701.85 crore

Bangur family-promoted Shree Cement Ltd on Wednesday reported an over two-fold jump in its consolidated net profit to Rs 701.85 crore for the third quarter ended December 2023. The company had posted a net profit of Rs 281.83 crore in the October-December period a year ago, according to a regulatory filing. Its revenue from operations grew 21.5 per cent to Rs 5,223.18 crore during the quarter under review. It was at Rs 4,299.26 crore in the corresponding period of the preceding fiscal. In the December quarter, it had a "strong & all-round performance led by improved realisation & cost reduction amidst robust demand growth," the company said in a quarterly earnings statement. The total sale volume of Shree Cement Ltd (SCL) increased Year-on-Year (YoY) by 11 per cent from 8.03 million tonnes to 8.89 million tonnes. Its capacity utilisation improved from 72 per cent to 77 per cent on YoY basis. Total expenses of SCL grew 9.12 per cent to Rs 4,458.01 crore in the December ...