Page 3 - Corporate Earnings

Manappuram Finance Q2 results: PAT up 2% at Rs 571 cr on gold loan boost

The gold loan financier's consolidated net profit rose 2% from last year to Rs 571 crore (about $68 million) for the three months ended Sept 30

Upper-teens EPS growth likely for Gland Pharma in next two financial years

Analysts are downgrading optimistic EPS estimates for FY25 and FY26, due to continuing slowdown in US sales and a temporary issue at Cenexi's site in Belgium

Auto parts firm Sundram Fasteners posts 8% increase in Q2 net profit

The company has incurred Rs 238.25 crore in capital expenditure for the half-year ended September 30, 2024, in line with its planned capital expenditure of Rs 400 crore for the financial year 2024-25

Dr Reddy's clocks highest-ever revenue in Q2; net profit down 9.5%

Sequentially, revenue from operations grew by 4.5 per cent, whereas PAT declined by 3.6 per cent

Aptus Value Housing Q2 results: PAT up at Rs 182 cr on stable asset quality

Housing finance company Aptus Value Housing Finance India Ltd on Tuesday reported profits for the July-September 2024 period at Rs 181.96 crore supported by business growth and stable asset quality, the company said on Tuesday. The city-based company had registered profits of Rs 148.01 crore during the corresponding period of last year. For the half-year period ending September 30, 2024, the profits went up to Rs 353.71 crore, from Rs 290.27 crore registered in the year ago period. The total income during the quarter under review went up to Rs 435.54 crore, from Rs 345.66 crore registered during the corresponding period of last year. For the six month period ending September 30, 2024, the total income surged to Rs 840.17 crore, from Rs 661.03 crore registered in the year ago period. Commenting on the financial performance, company managing director P Balaji said, "we are happy to share that Aptus achieved strong results for the second quarter of FY25. The company posted a 22 per c

Titan Q2 results: Net profit down 23% at Rs 704 cr, sales up 25.8%

Total expenses of Titan increased 20.23 per cent to Rs 13,709 crore in the June quarter

Thomson Reuters Q3 revenue rises 8% to $1.72 billion, beats expectation

The Toronto-based content and technology company reported a quarterly revenue rise of 8% to $1.72 billion, just ahead of analyst expectations, according to LSEG data

Mankind Pharma Q2 results: Net profit rises to Rs 653 cr on higher demand

The company, which also makes Manforce condoms and Prega News pregnancy kits, said its consolidated net profit rose to RS 653 crore for the quarter ended Sep 30, a 30% climb from last year

Saregama India Q2FY25 results: Net profit falls 6.2% to Rs 44.95 crore

Music label Saregama India Ltd on Tuesday reported a 6.2 per cent fall in its net profit to Rs 44.95 crore for the second quarter of the 2024-25 financial year despite a 40.5 per cent increase in revenue. Saregama India, which is a part of the RP Sanjiv Goenka Group, posted a net profit of Rs 47.99 crore in the corresponding quarter of the last fiscal, a statement said. The company reported a revenue of Rs 241.83 crore during the quarter that ended on September 30 as against Rs 172.35 crore in the same period of the previous fiscal. During the quarter under review, operational costs more than doubled to Rs 87.12 crore from Rs 40.60 crore, the statement said. Total expenses were at Rs 195 crore during the quarter as against Rs 119.95 crore in the year-ago period. "FY'25 has begun on a strong note, with our new music releases topping charts across different platforms. Diversification also gained momentum with successful live events and the launch of our third Saregama talent," the .

JK Paper Q2 results: Net down 57.84% at Rs 128.85 cr on higher expenses

JK Paper Ltd on Monday reported a 57.84 per cent decline in consolidated net profit to Rs 128.85 crore in the second quarter ended September 30, 2024, impacted by higher expenses. The company had posted a consolidated net profit of Rs 305.68 crore in the same quarter last fiscal, JK Paper Ltd said in a regulatory filing. Consolidated total income in the second quarter stood at Rs 1,714.88 crore as against Rs 1,708.81 crore in the year-ago period, it added. Total expenses were higher at Rs 1,569.63 crore as against Rs 1,368.23 crore in the same period a year ago, the company said.

Tube Investments Q2 results: Net profit down 13.6% at Rs 299.17 crore

Murugappa group firm Tube Investments of India Ltd on Monday reported a 13.6 per cent decline in consolidated net profit at Rs 299.17 crore in the September 2024 quarter, hit by higher expenses. The company posted a consolidated net profit of Rs 346.19 crore in the same quarter last fiscal, Tube Investments of India Ltd (TIIL) said in a regulatory filing. Consolidated revenue from operations in the quarter under review stood at Rs 4,782.51 crore compared to Rs 4,169.26 crore in the year-ago period, it added. Total expenses in the second quarter were higher at Rs 4,569.19 crore against Rs 3,868.46 crore a year ago. On a standalone basis, revenue in Q2 stood at Rs 2,065 crore from Rs 1,970 crore in the same period of the previous year, it said. In the second quarter, the engineering division clocked a revenue of Rs 1,323 crore compared to Rs 1,274 crore in the corresponding period in the preceding fiscal. Metal-formed products revenue was higher at Rs 404 crore, up from Rs 400 cror

Canara Bank aims Rs 6,000 cr recovery in H2 FY25, expect Rs 3,000 cr in Q3

State-owned Canara Bank aims to recover about Rs 6,000 crore from bad loans during the second half of the current fiscal. "We are anticipating recovery somewhere about Rs 3,000 crore in the third quarter and a similar amount in the fourth quarter," Canara Bank managing director and CEO K Satyanarayana Raju told PTI. The bank has recovered Rs 2,905 crore, including recovery in written-off accounts, in the second quarter. Slippages would be much less than recovery as the bank would be underwriting good loans, Raju said. Asked about the initial public offering (IPO) of Canara Robeco Asset Management Company, he said it may happen in the fourth quarter of this financial year. The approval from the finance ministry for the IPO of Canara Robeco Asset Management Company (AMC) is expected shortly. The lender holds a 51 per cent stake in the mutual fund. It plans to offload a 13 per cent stake through IPO. Last December, Canara Bank gave an in-principle approval to start the process of l

Exxon, Chevron beat analysts' estimates on Permian oil supply boost

Exxon's third-quarter adjusted earnings exceeded expectations by a nickel on Friday, while Chevron surpassed estimates by 11 cents

New India Assurance Q2 results: PAT at Rs 71 cr, total income up 2.5%

New India Assurance on Wednesday reported a net profit of Rs 71 crore for the second quarter ended September 2024. The state-owned general insurer had booked a net loss of Rs 200 crore in the year-ago period. The total income of the Mumbai-based entity rose to Rs 10,090 crore from Rs 9,839 crore in the year-ago period, New India Assurance said in a regulatory filing. The company's written gross premium also rose to Rs 9,620 crore in the second quarter of this fiscal compared to Rs 9,397 crore a year ago. Its net premium collection increased to Rs 8,067 crore against Rs 7,894 crore in the same quarter a year ago, it said. However, the total expenditure of the company during the period under review declined to Rs 10,577 crore from Rs 10,628 crore in the year-ago period.

Unity Small Finance Bank Q2: Net profit rises 36% to Rs 187 crore

Unity Small Finance Bank on Wednesday reported a 36 per cent rise in its profit to Rs 187 crore in the second quarter ended September 2024. The lender had earned a net profit of Rs 138 crore in the same quarter in the previous financial year. Total income increased to Rs 640 crore during the quarter under review against Rs 361 crore in the same quarter last year, the bank said in a statement. Its net interest income grew to Rs 320 crore over Rs 232 crore in FY24. The capital adequacy ratio of the bank promoted by Centrum Group stood at 29 per cent, it added.

Redington Q2 results: Net profit down at Rs 282.88 cr, total income rises

Integrated technology solutions provider Redington Ltd has reported consolidated profits for the July-September 2024 quarter at Rs 282.88 crore, following growth led by good performances across all business units, the company said on Wednesday. The city-based company had registered consolidated profits of Rs 311.64 crore during the corresponding quarter of last financial year. For the six month period ending September 30, 2024 the consolidated profits stood at Rs 499.92 crore, as against Rs 566.84 crore registered in the year ago period. The consolidated total income during the quarter under review grew to Rs 24,962.22 crore, from Rs 22,296.69 crore registered in the year ago period. For the half-year ending September 30, 2024 the consolidated total income surged to Rs 46,287.61 crore, from Rs 43,547.29 crore registered in the year ago period. Commenting on the financial performance, company Group CEO V S Hariharan said, "In Q2 FY25, our growth has been led by good performances acr

GHCL Q2 results: PAT rises 8% to Rs 154.83 cr, total income at Rs 810 cr

Chemical firm GHCL Ltd has posted an 8 per cent increase in its consolidated net profit to Rs 154.83 crore for the quarter ended September. Its net profit stood at Rs 142.84 crore in the year-ago period. Total income declined to Rs 810.23 crore in the July-September period of this fiscal from Rs 816.65 crore in the corresponding period of the preceding year, according to a regulatory filing on Tuesday. GHCL Limited is engaged in the manufacture of soda ash (Anhydrous Sodium Carbonate). Through a demerger, it has separated its spinning business into GHCL Textiles Ltd. "We are glad to report a resilient Q2 performance, with a clear focus on operating excellence. Realizations stayed tempered during the quarter despite some increase in net imports of soda ash," R S Jalan, Managing Director of GHCL, said. Going forward, globally, the pricing may remain range-bound as industry challenges have not yet fully resolved and potential risks persist due to the ongoing geopolitical situations,

Carborundum Universal Q2 results: Net profit grows to Rs 116.16 crore

Abrasives manufacturer Carborundum Universal Ltd (CUMI) has reported a consolidated net profit for the July-September 2024 quarter at Rs 116.16 crore following sales growth in electro minerals, ceramic segments, the company said on Wednesday. The city-based company, part of the diversified conglomerate Murugappa Group had registered a net profit after tax of Rs 103.88 crore during the corresponding quarter of last financial year. For the six months period ending September 30, 2024, net profit after tax grew to Rs 231 crore, as compared to Rs 221.64 crore registered a year ago. The consolidated total income during the quarter under review went up to Rs 1,235.45 crore, from Rs 1,165.98 crore recorded during the same quarter of last financial year. For the half year ending September 30, 2024, the consolidated total income remained flat at Rs 2,440.01 crore, as against Rs 2,400.11 crore registered in the year ago period. In a statement on Wednesday, the company said that the consolida

Dabur Q2 results: PAT down 17.6% to Rs 417.5 cr, revenue declines 5%

Homegrown FMCG major Dabur India Ltd on Wednesday reported a decline of 17.65 per cent in its consolidated net profit to Rs 417.52 crore in the September 2024 quarter. The company had posted a net profit of Rs 507.04 crore in the July-September quarter a year ago, Dabur India said in a regulatory filing. Its revenue from operations slipped 5.46 per cent to Rs 3,028.59 crore during the quarter under review. It was Rs 3,203.84 crore in the corresponding quarter of the previous fiscal. Dabur India's total expenses were at Rs 2,634.40 crore, down 1.31 per cent in the September quarter. "Despite a challenging demand environment marked by high food inflation and a resultant squeeze in urban demand, Dabur continued to drive consumer engagement across its key brands to end the second quarter of 2024-25 with a consolidated revenue of Rs 3,029 crore," Dabur said in its earnings statement. Shares of Dabur India Ltd settled 2.07 per cent higher at Rs 546.95 on the BSE.

P&G Hygiene sep quarter results: PAT rises marginally to Rs 212 crore

Procter & Gamble Hygiene & Health Care's net profit increased marginally to Rs 211.90 crore in September 2024 quarter as against Rs 210.69 crore posted in September 2023 quarter.