Page 5 - Corporate Earnings

JSW Steel Q2FY25 results: Net profit slumps 84% on lower sales realisation

Sequentially, profit down by 48% and revenue by 7.6%

Zee Media Corp Q2 results: Net loss widens to Rs 49.86 cr, revenue down 13%

Private news broadcaster Zee Media on Friday said its consolidated net loss widened to Rs 49.86 crore for the second quarter ended September 2024. The company had posted a net loss of Rs 30.70 crore during the July-September quarter of the previous fiscal, according to a regulatory filing from Zee Media Corporation Ltd (ZMCL). Its revenue from operations fell 13.78 per cent to Rs 130.70 crore during the quarter under review. It was Rs 151.59 crore in the corresponding period of the previous fiscal. ZMCL's total expenses were Rs 199.65 crore, up 1.64 per cent, in the September quarter. The total income of Zee Media, which includes other income, also declined 13.43 per cent to Rs 133.12 crore. Its advertising revenue slipped 16.3 per cent to Rs 119.22 crore, while subscription revenue rose 26.7 per cent to Rs 11.43 crore in the September quarter. ZMCL is one of the leading news networks in India. Formerly known as Zee News Ltd, it operates about 20 TV news channels. Shares of Zee

Orient Electric Q2 results: Net profit rises 43.4% to Rs 10.4 crore

Orient Electric Ltd on Friday reported a 43.41 per cent decline in its net profit to Rs 10.44 crore for the second quarter ended September 2024. It had posted a net profit of Rs 18.45 crore in the July-September quarter a year ago, according to a regulatory filing from the CK Birla group firm. However, its revenue from operations increased 16.44 per cent to Rs 660.15 crore during the period under review. It was Rs 566.9 crore in the corresponding period of the last fiscal. The revenue growth was driven by "...encouraging performance in the lighting, appliances and Fans segments on the back of digital thrust, festival lifting and higher realisations". Its total expenses were Rs 650.11 crore, up 14.94 per cent, in the September quarter. Orient Electric's total income, which includes other income, stood at Rs 664.34 crore, up 16.5 per cent. Shares of Orient Electric Ltd on Friday settled at Rs 210.30 apiece on BSE, down 1.61 per cent from the previous close.

IndiGrid Q2 results: Net profit increses nearly 154% to Rs 98 crore

Infrastructure investment trust India Grid Trust on Friday posted a 154 per cent jump in its consolidated net profit to Rs 98.73 crore for the September 2024 quarter on the back of higher revenues. Its consolidated net profit was Rs 38.89 crore in the year-ago quarter, a BSE filing showed. The total income rose to Rs 839.75 crore in the quarter from Rs 720.18 crore a year ago. The Board of Directors (Board) of IndiGrid Investment Managers Ltd (IIML) acting in the capacity of the investment manager to India Grid Trust (IndiGrid) also approved the declaration of Q2 FY25 distribution of Rs 3.75 per unit, comprising Rs 3.61763 per unit in the form of interest, Rs 0.11357 per unit in the form of dividend and Rs 0.01880 in the form of other income. The record date for this distribution will be October 30, 2024, and the payment will be made on or before November 9, 2024. The board has also approved the name change of India Grid Trust to 'IndiGrid Infrastructure Trust', along with ...

NLC India Q2 results: PAT declines 9.5% to Rs 982 cr on higher expenses

State-owned NLC India Ltd on Friday reported a 9.5 per cent decline in consolidated profit at Rs 982.41 crore for the quarter ended September 30, 2024. The company had posted a consolidated profit of Rs 1,085.93 crore in the year-ago period, NLC India Ltd said in a regulatory filing. However, the revenue from operations in the July-September quarter increased to Rs 3,657.27 crore, over Rs 2,977.53 crore in the year-ago period. NLC India is a navratna company under the Ministry of Coal. Its core business is mining and power generation.

Eris Lifesciences Q2 results: Net profit declines 20% to Rs 97 crore

Eris Lifesciences on Friday said its consolidated profit after tax declined 20 per cent year-on-year to Rs 97 crore in the September quarter. The drug firm had reported a Profit After Tax (PAT) of Rs 122 crore in the July-September period of last fiscal. Revenue increased to Rs 741 crore in the second quarter compared to Rs 505 crore in the year-ago period, the company said in a statement. "The acquired businesses of Biocon and Swiss Parenterals have been integrated and are scaling up in line with our expectations," Eris Lifesciences Chairman and Managing Director Amit Bakshi said. The company is on track to achieve revenue guidance of Rs 2,600 crore in domestic formulations and Rs 3,000 crore on a consolidated basis, he added. "We continue building up our capabilities in the biologics segment. With a strategic investment in Levim Lifetech, we will become a vertically integrated Biotech player with capabilities across the value chain," Bakshi said. Shares of the company settled 0

Mahindra Holidays Q2 results: Net profit declines 35% to Rs 13.77 crore

Shares of the company, which offers resorts and sightseeing packages through its 'Club Mahindra' membership and generates revenue through membership fees, fell about 3% after the results

BPCL Q2FY25 results: Net profit falls 71.8% on lower marketing margins

The country's third-largest oil refiner by capacity said the average gross refining margin for April-September fell to $6.12 per barrel from $15.42 per barrel a year earlier

IDBI Bank Q2 results: PAT up 39% at Rs 1,836 cr on improved interest income

IDBI Bank on Friday reported a 39 per cent surge in net profit at Rs 1,836 crore for the quarter ended September 30, 2024 on the back of improvement in interest income. The LIC-controlled bank had earned a net profit of Rs 1,323 crore in the year-ago period. Total income rose to Rs 8,754 crore in the quarter under review, from Rs 6,924 crore in the same period a year ago, IDBI Bank said in a regulatory filing. Net interest income of the bank improved to Rs 3,875 crore in the July-September quarter, from Rs 3,066 crore in the September quarter of 2023, registering a growth of 26 per cent. Net interest margin increased to 4.87 per cent, from 4.33 per cent at the end of September 2023. Asset quality of the bank witnessed an improvement with gross non-performing assets (NPAs) rising to 3.68 per cent of gross advances at the end of the September quarter of 2024, as against 4.90 per cent a year ago. Net NPAs or bad loans also declined to 0.20 per cent, as against 0.39 per cent in the .

Renault posts forecast-beating 1.8% rise in Q3 sales amidst strong demand

Revenues came in at 10.7 billion euros ($11.55 billion), up 1.8 per cent from a year earlier and beating an analysts' consensus forecast of 10.35 billion euros provided by the company

Piramal Pharma Q2FY25 results: Net profit jumps over 4-fold to Rs 23 crore

Piramal Pharma on Thursday reported over four-fold increase in consolidated net profit at Rs 23 crore for the second quarter ended September. The Mumbai-based company had reported a net profit of Rs 5 crore in the July-September quarter of last fiscal. Revenue from operations rose to Rs 2,242 crore in the second quarter as compared with Rs 1,911 crore in the year-ago period, Piramal Pharma said in a statement. "We continue our momentum of delivering healthy revenue growth accompanied by YoY EBITDA margin expansion. This has been primarily driven by consistent growth in our CDMO business which has witnessed a good pick-up in innovation-related work and on-patent commercial revenues," Piramal Pharma Chairperson Nandini Piramal said. To sustain this growth momentum and to capitalise on rising demand for sterile fill-finish capabilities, the company has announced a USD 80 million expansion plan at the Lexington facility which is expected to be completed by the FY27 end, she added. "In

ICICI Bank Q2 results preview: Analysts peg net profit growth at 7% YoY

ICICI Bank Q2 results preview: ICICI Bank is scheduled to report its July-September quarter (Q2) results on Saturday, October 26, 2024

Shiprocket loss widens to Rs 595 cr in FY24 on restructuring costs

Logistics aggregator Shiprocket has reported widening of loss to Rs 595 crore in the financial year 2024 on account of one-time restructuring cost, employee stock ownership plan and investments in emerging business. Shiprocket had posted a loss of Rs 340 crore in the fiscal year 2022-23. "Rs (-) 595 crore profit after tax is attributed to: One-time restructuring and integration costs of Rs 244 crore related to acquired businesses, significant ESOPs worth Rs 192 crore during the year, investment in emerging businesses," Shiprocket said in a statement. Shiprocket said that the company has reduced cash flow burn by almost half to Rs 100 crore in FY'24 from Rs 191 crore in FY'23 and is on path to full profitability in the current fiscal year. "The company also announced that the first two quarters of this financial year ending September 2024 are already profitable, positioning it well ahead of its goal to achieve full profitability by FY 2025," the statement said. The revenue of the .

Schaeffler India Q3 results: Net profit marginally grows to Rs 236.41 crore

Schaeffler India on Wednesday said its consolidated Profit After Tax grew marginally to Rs 236.41 crore in the July-September quarter of this year, from Rs 232.76 crore a year ago. Revenue from operations during the reporting quarter, however, rose 14 per cent to Rs 2,116.3 crore in the third quarter of 2024, from Rs 1,853.6 crore in the year-ago period, the company said in a regulatory filing. Schaeffler India follows the January-December financial year. "Our domestic business continued its growth momentum as we progressed into the second half of the year. "Despite a challenging market environment, the automotive technologies and bearings and industrial solutions business showed an upward trend," Harsha Kadam, Managing Director and CEO at Schaeffler India said in a statement. The sustained quality of earnings reflects the company's constant focus on cost management and realization of financial and operating margins, he added.

United Spirits Q2 results: Net profit marginally rises to Rs 341 crore

Alcoholic beverages maker United Spirits Ltd on Wednesday reported a marginal increase in consolidated net profit at Rs 341 crore in the second quarter ended September 30, 2024 impacted by a softer-than-expected demand environment. The company had posted a consolidated net profit of Rs 339 crore in the same quarter of the last fiscal, United Spirits Ltd said in a regulatory filing. Consolidated revenue from operations in the quarter under review stood at Rs 6,672 crore, as against Rs 6,737 crore in the year-ago period, the company said. Total expenses were lower at Rs 6,264 crore in the July-September quarter, as compared to Rs 6,362 crore in the second quarter of the previous fiscal, it added. "It is a muted quarter amidst a softer-than-expected demand environment," United Spirits CEO & Managing Director Hina Nagarajan said. She, however, said the company remains buoyant entering the festive season on the back of structural tailwinds including the reopening of the business in the

Birlasoft Q2 results: PAT declines 12% to Rs 127.5 cr, revenue up 4%

IT services and solutions provider Birlasoft on Wednesday reported a 12.06 per cent year-on-year decline in consolidated net profit to Rs 127.5 crore for the quarter ended September 30, 2024. It had reported a net profit of Rs 145 crore in the year-ago period, according to a stock exchange filing. On a quarter-on-quarter basis, profits fell 15.11 per cent from Rs 150.2 crore in the April-June period. Revenue for the reporting quarter came in at Rs 1,368.2 crore, an uptick of 4.45 per cent from Rs 1,309.8 crore in Q2 FY24. Revenues rose 3.07 per cent sequentially. "This (revenue growth) was driven by ramp-ups in some projects that were earlier delayed, better account mining and incremental business from consolidation deals where we have gained wallet share. "The investments that we have been making to enhance our tech and domain capabilities as well as partnerships, which we believe is key for future growth, have already begun to see some early results reflected in a noticeable ...

Pidilite Industries Q2 results: Net profit rises 17.8% to Rs 540.3 crore

Pidilite Industries Ltd on Wednesday reported an increase of 17.83 per cent in consolidated net profit at Rs 540.30 crore for the second quarter ended September 30, 2024 helped by benign input prices and volume growth. The company, which manufactures adhesives, sealants and construction chemicals, had logged a profit of Rs 458.53 crore in the July-September period a year ago, the company said in a regulatory filing. Its revenue from operations was up 5.16 per cent at Rs 3,234.91 crore during the quarter under review. It was at Rs 3,076.04 crore in the corresponding quarter a year ago. Pidilite Industries' total expenses was at Rs 2,565.71 crore, up 3.26 per cent in the September quarter. Total income of Pidilite Industries, which includes other income, was up 5.93 per cent to Rs 3,292.03 crore. The current quarter's revenue growth is aided by a UVG (Underlying Volume Growth) of 8 per cent, said Pidilite Industries in its earnings statement. "Input prices remained benign, resultin

Sona Comstar Q2 results: Net profit increases 16% to Rs 143.57 crore

Auto components maker Sona BLW Precision Forgings (Sona Comstar) on Wednesday reported a 16 per cent year-on-year growth in consolidated Profit After Tax (PAT) at Rs 143.57-crore for the quarter ended September 30, 2024. The company had posted a net profit of Rs 124.06 crore in the second quarter of FY24, according to a regulatory filing. Revenue from operations for the quarter under review was Rs 922.18 crore, up 17 per cent from Rs 787.46 crore during Q2FY23, as per the filing. Revenue share from Battery Electric Vehicles (BEV) stood at 36 per cent, while the BEV revenue grew 53 per cent year-on-year during the July-September period of the current fiscal, it said. It also said that the net order book stood at Rs 23,100 crore as of September 30, 2024. "We have continued to progress on all our key strategic priorities," said Vivek Vikram Singh, Managing Director and Group CEO at Sona BLW Precision Forgings. Sona Comstar also announced a signing pact with Escorts Kubota Ltd (EKL)

SBI Life Insurance Q2 results: Net profit jumps 39% to Rs 529 crore

SBI Life Insurance on Wednesday reported a 39 per cent increase in net profit at Rs 529 crore for the second quarter ended September 30 of this fiscal. The insurer had posted a profit of Rs 380 crore in the July-September quarter of the last financial year. Total income of the insurance firm promoted by State Bank of India rose to Rs 40,015 crore during the quarter under review, as compared to Rs 28,569 crore in the same period a year ago. The company collected a net premium of Rs 20,266 crore in the July-September period, up from Rs 20,050 crore in the year-ago period. The first-year premium was Rs 4,916 crore, as against Rs 4,633 crore in the July-September period of last fiscal. Its assets under management climbed 28 per cent to Rs 4.4 lakh crore as of September 30, 2024. The solvency ratio was 204 per cent at the end of September, as against the regulatory requirement of 150 per cent. The company's net worth increased by 16 per cent from Rs 13,970 crore as on September 30, 2

Heritage Foods' Q2 results: Net profit surges two-fold to Rs 48.63 crore

The company posted a consolidated profit of Rs 48.63 crore ($5.8 million) in the three months ended Sept. 30