Page 27 - Corporate Earnings

Route Mobile Q3 results: Profit rises 28% to Rs 106 cr, revenue up 3.91%

Cloud Communications service provider Route Mobile on Tuesday reported over 28 per cent year-on-year jump in consolidated net profit for the December quarter at Rs 105.7 crore, according to a company filing. The company's profit (attributable to owners of the holding company) stood at Rs 82.44 crore in the corresponding period in the last fiscal. According to a stock exchange filing, the company's revenue from operations climbed to Rs 1,024.3 crore, with a 3.91 per cent year-on-year growth. The profit -- attributable to owners of the holding company -- stood at Rs 105.7 crore in the third quarter of the ongoing fiscal, from Rs 82.4 crore in the year-ago period. This translated into a year-on-year growth of 28.2 per cent. The Profit After Tax came in at Rs 113.6 crore, up 33 per cent over the year-ago period. In a release, the company said, "PAT reported at Rs 113.6 crore for Q3FY24 as against Rs 88.4 crore in Q2 FY24. PAT margin stood at 11.1 per cent." Route Mobile Ltd MD and gr

JSW Energy Q3 profit rises 28% to Rs 231 cr on demand boost, low fuel costs

India's electricity generation rose 8.7% year-on-year in the December quarter, which analysts attributed to festive activities and strong industrial demand

RattanIndia Power net loss widens to Rs 587 crore in December quarter

RattanIndia Power on Tuesday reported a widening of consolidated net loss to Rs 586.97 crore in the December quarter compared to a year ago, mainly due to lower revenues. According to a regulatory filing, the company's consolidated net loss stood at Rs 479.76 crore in the quarter ended on December 31, 2022. In the October-December period, the total income declined to Rs 888.30 crore as against Rs 931.29 crore a year ago.

Colgate-Palmolive India Q3 profit jumps 35% to Rs 330 cr on lower expenses

Net profit rose to Rs 330 crore for the quarter ended Dec. 31 from Rs 243 crore rupees a year earlier

Coforge Q3 profit rises 4.3% on deal wins, maintains revenue forecast

Consolidated net profit rose to 2.38 billion rupees ($28.6 million) for the quarter ended Dec. 31 from 2.28 billion rupees a year earlier

Cipla Q3 results: Profit rises 32% to Rs 1,056 crore, beats estimates

The Mumbai-based company had posted a consolidated net profit of Rs 801 crore in the year-ago period, Cipla Ltd said in a statement

Waaree Renewable Technologies Q3 results: PAT more than doubles to Rs 64 cr

Waaree Renewable Technologies Ltd (WRTL) on Monday said its consolidated Profit After Tax (PAT) more than doubled to Rs 64.46 crore in the December quarter, aided by higher revenues. It had clocked a PAT of Rs 24.98 crore in the year-ago period, the company said in a statement. The company's total revenue in the third quarter of the ongoing fiscal rose to Rs 324.19 crore from Rs 73.88 crore. During the quarter, the company received 70 MW capacity ground mounted solar power project and its unexecuted order book stood at 749 MW as of December 31, Waaree Renewable Technologies Ltd, a subsidiary of the Waaree Group, said.

Tesla price cuts, delivery plan, CEO pay in focus ahead of results

Falling prices of battery materials are expected to let Tesla show a slight rise in profit margin from the previous quarter

ICICI Bank Q3 net profit jumps 23.6% to Rs 10,272 cr, NII up 13.4%

Net Interest margins dip on rise in cost of deposits; makes Rs 627 crore provision to AIF exposure

Poonawalla Fincorp net profit jumps 76% to Rs 265 crore in December quarter

Non-bank lender Poonawalla Fincorp, focused on consumer and small business finance, on Thursday said its net profit rose 76 per cent to Rs 265 crore for the December quarter on higher disbursement and better asset quality. The Pune-based firm said the quarter saw the highest-ever profit, led by the highest-ever quarterly disbursements of Rs 8,731 crore, about 159 per cent higher against the year-ago period. This had the loan book jumping 58 per cent to Rs 21,946 crore. Despite the overall higher interest rate regime, Poonawalla Fincorp managing director Abhay Bhutada said their net interest margin rose 33 bps to 11.02 per cent while operating expenses to loan book/AUM stood at 4 per cent, an improvement of 206 bps year-on-year. On the asset quality front, the Cyrus Poonawalla group firm said its gross NPAs came down by 36 bps to 1.33 per cent, while net NPAs declined by 19 bps to 0.70 per cent in the reporting quarter. Its capital adequacy ratio stood at 38.2 per cent, with a ...

Ramkrishna Forgings Q3 results: Profit up 43% at Rs 87 cr on higher income

Ramkrishna Forgings Ltd on Thursday posted a 43 per cent rise in consolidated net profit to Rs 86.86 crore during the December quarter on the back of higher income. The company had posted a net profit of Rs 61.04 crore in the year-ago period, the company said in an exchange filing. The company's total income in the third quarter of the current fiscal also rose to Rs 1,059.32 crore from Rs 778.22 crore in the year-ago quarter. Its expenses were at Rs 941.84 crore, up from Rs 684.70 crore a year ago. "The company registered a strong performance across segments and geographies, with year-on-year growth of 20 per cent in revenues and 43 per cent in profitability. EBITDA margins stood at 23 per cent, driven by operating leverage and a sharp focus on cost control," Ramkrishna Forgings Ltd Managing Director Naresh Jalan said in a statement. The company raised Rs 1,000 crore through the QIP route during the quarter, he said. "The recent approval by NCLT Delhi for the acquisition of ACIL

Tata Communications posts fastest quarterly revenue growth in 9 years

Revenue rose 24.4% to Rs 5,633 crore for the quarter ended Dec. 31, according to an exchange filing

Weak earnings, fading US interest rate cut hopes drag Indian stock market

The blue-chip NSE Nifty 50 shed 0.51% to 21,462.25, while the S&P BSE Sensex lost 0.44% to 71,186.86

Jindal Stainless Q3 results: Net profit rises 35% to Rs 691 crore

Jindal Stainless Ltd (JSL) on Thursday posted a 35 per cent rise in its consolidated net profit to Rs 691.22 crore during the December quarter, aided by trimmed expenses. Its net profit was at Rs 512.62 crore during the October-December period of the preceding 2022-23 fiscal, the company said in a regulatory filing. The company's total income was also higher at Rs 9,166.42 crore as against Rs 9,101.24 crore in the year-ago quarter. While expenses reduced to Rs 8,262.66 crore during the period under review, from Rs 8,451.20 crore a year ago. The company also announced the elevation of its Whole-time Director Tarun Kumar Khulbe as its CEO with effect from January 1, 2024. The board of the company has also given in-principal approval for the acquisition of up to 100 per cent stake in Iberjindal S.L., a subsidiary company based out in Spain. The board has delegated its power to the subcommittee of the board for negotiating the purchase price. It also approved to divest up to an entir

ICICI Lombard Q3 results: Profit up 22% at Rs 431 crore as premiums climb

Profit after tax rose to 4.31 billion rupees (nearly $52 million) for the quarter ended Dec. 31 from 3.53 billion rupees ($42.61 million) a year earlier, the ICICI Bank - backed company said

Himadri Speciality Chemical Q3 results: Net profit rises 67% to Rs 108.7 cr

Himadri Speciality Chemical Ltd (HSCL) on Tuesday posted a 67 per cent rise in consolidated net profit at Rs 108.78 crore during the quarter ended December 31. It had clocked Rs 65.21 crore net profit during the October-December period of the preceding 2022-23 fiscal, the company said in an exchange filing. The company's total income in the quarter rose to Rs 1,062.70 crore, over Rs 1,045.06 crore a year ago. HSCL trimmed its expenses to Rs 912.55 crore from Rs 965.59 crore. Kolkata-based Himadri Speciality Chemical Ltd is into manufacturing and supply of green energy, anode material for li-ion batteries, special types of oils and other materials for industrial usage. "Our core business is delivering strong cash flows quarter after quarter backed by strong customer relationships, quality-led production and continuous innovation," said Anurag Choudhary, CMD and CEO of Himadri Speciality Chemical Ltd. The improvement in profit is the result of in-house technology which leads to cos

ICICI Securities Q3 results: Net profit jumps 66% to Rs 466 crore

Brokerage house ICICI Securities on Tuesday reported a 66 per cent year-on-year jump in Profit After Tax (PAT) to Rs 465.7 crore in three months ended December 2023. In comparison, the company had posted a PAT of Rs 280.9 crore in the October-December quarter of the preceding fiscal (FY23), ICICI Securities, a part of ICICI Group, said in a regulatory filing. The company registered a revenue of Rs 1,323.3 crore in the quarter under review, marking a 50 per cent year-on-year (YoY) surge from Rs 879.9 crore in the three months ended December 31, 2022. The increase in revenue was led by growth in broking income in the cash segment along with the investment banking segment. "We continue to grow with our focus on the acquisition of quality clients, gaining market share in revenue-generating segments, growing our distribution business, enhancing customer experience and continued investment in enhancing franchise as well as technology. Overall, we strongly believe that the medium to long

HDFC AMC PAT surges 32% to Rs 488 cr, income up 23% in Oct-Dec quarter

HDFC Asset Management Company Ltd (HDFC AMC) on Thursday reported a 32 per cent year-on-year jump in profit after tax (PAT) at Rs 488 crore for the three months ended December 2023. In comparison, the company had posted a PAT of Rs 369.16 crore in the year-ago period, HDFC AMC said in a regulatory filing. The company's total income surged 23 per cent year-on-year to Rs 814.17 crore in the October-December quarter of the current fiscal (FY24), from Rs 663 crore in the year-ago period. During the period ended December 31, 2023, the asset management firm paid a final dividend of Rs 48 per equity share (face value of Rs 5 each) for the year ended March 31, 2023. For the nine months ended December 31, 2023, the company clocked a PAT of Rs 1,402 crore and total income of Rs 2,312.14 crore. HDFC AMC is an investment manager for HDFC Mutual Fund, one of the largest mutual funds in the country. Shares of HDFC AMC were trading 2.30 per cent higher at Rs 3,496.25 on the BSE.

JD.com unit dives 46% post disclosing investigation of 'suspicious' revenue

Dada Nexus Ltd. said it may have overstated roughly 500 million yuan of sales from online advertising and marketing, and about the same amount of operating and support costs

S&P 500 earnings forecast could rise further on strong economy: Goldman

S&P 500 companies' earnings per share are forecast to rise 5% to $237 this year, the team led by chief US equity strategist David Kostin predicted in a weekly research note