Page 3 - Earnings Growth

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 ...

Motherson Sumi Wiring India Q3 results: PAT grows 58% to Rs 167.86 cr

Auto components maker Motherson Sumi Wiring India Ltd on Wednesday reported a 58.12 per cent jump in profit after tax at Rs 167.86 crore in the third quarter ended December 31, 2023, riding on robust sales. The company had posted a profit after tax of Rs 106.16 crore in the October-December quarter last fiscal, Motherson Sumi Wiring India said in a regulatory filing. Total revenue from operations during the period under review stood at Rs 2,117.28 crore as against Rs 1,686.8 crore in the year-ago period, it added. "These strong quarterly numbers are the result of customer trust and our operational efficiencies," Motherson Sumi Wiring India Chairman Vivek Chaand Sehgal said. Further, he said, "We remain focused on delivering high-quality products and solutions to our customers and supporting them in their plans. We will continue to invest in capacities to meet the future demand." Motherson Sumi Wiring India said its new-age innovative capabilities are in place, serving all powertra

NIIT Learning Systems Q3 results: Net profit rises 23% to Rs 57 crore

NIIT Learning Systems on Wednesday posted a 23.27 per cent rise in its consolidated profit after tax at Rs 56.7 crore in the third quarter ended December 2023. The company had posted a PAT (profit after tax) of Rs 46 crore in the same period a year ago, NIIT Learning Systems said in a regulatory filing. The company's revenue from operations increased by 7.7 per cent to Rs 391.32 crore in the December 2023 quarter from Rs 363.29 crore in the corresponding quarter a year ago. "Business saw an uptick in sequential growth on the back of continuing addition of new customers and 100 per cent renewals despite compression of spends. We are making a strong commitment to investing in AI for improving effectiveness of learning interventions and are getting positive response from our customers," NIIT Learning Systems Limited (NLSL) Executive Director and CEO Sapnesh Lalla said. NIIT MTS added two new MTS (Managed Training Services) customers during the third quarter of FY'24. At the end of the

Dabur Q3 results: Profit rises 6.2% to Rs 506 crore, revenue up 7%

Homegrown FMCG major Dabur India Ltd on Wednesday reported an increase of 6.24 per cent in consolidated net profit at Rs 506.44 crore for the third quarter ended December 2023. The company had posted a net profit of Rs 476.65 crore in the October-December quarter a year ago, Dabur India said in a regulatory filing. Its revenue from operations was up 7 per cent at Rs 3,255.06 crore during the quarter under review. It was at Rs 3,043.17 crore in the corresponding quarter of the previous fiscal. This was "driven by steady performance of both the Home & Personal care and Food & Beverages business," said an earning statement from the company which owns brands such as Dabur Amla, Dabur Vatika, and juice brand Real. Total expenses of Dabur India in the December quarter were up 7.82 per cent to Rs 2,720.62 crore. Dabur India's total income was at Rs 3,382.43 crore, up 7.58 per cent in Q3 FY23. Share of Dabur India was trading at Rs 543.50 on BSE, up 1.43 per cent from the previous ...

KPIT Technologies Q3 results: Net profit jumps 50% to Rs 157 crore

KPIT Technologies on Tuesday reported a 50 per cent rise in net profit at Rs 156.75 crore in the December quarter of this fiscal, helped by a surge in topline and widening of profit margins. The Pune-headquartered company, focused on the automotive sector, had recorded a profit after tax of Rs 104.05 crore in the year-ago period and Rs 141.4 crore in the preceding September quarter, KPIT Technologies said in a regulatory filing. Its revenues grew to Rs 1,256.96 crore from the year-ago period's Rs 917.11 crore, and Rs 1,199 crore in the quarter-ago period. The operating profit margin widened to 20.6 per cent from the year-ago period's 18.5 per cent, which helped in the growth of the overall profits. Co-founder, chief executive and managing director Kishor Patil said the company is on target to achieve the guidance of the revenues growing at 37 per cent in the fiscal on a constant currency basis and will do better than the 20 per cent operating profit growth guidance. He said the de

SIS Ltd Q3 results: Profit after tax increases by 16.5% to Rs 79 crore

SIS Ltd on Tuesday reported a 16.5 per cent increase in its profit after tax to Rs 79 crore for the third quarter ended December 2023. The company -- operating in facility management, security and cash logistics -- had posted adjusted profit after tax (PAT) of Rs 68 crore in the corresponding quarter of the previous fiscal. Adjusted PAT is profit adjusted for the benefits of Section 80JJAA of the Income Tax Act, SIS Ltd said in a statement. Section 80JJAA of the Income Tax Act deals with deductions with respect to the employment of new workmen. SIS, a USD 1.5 billion Indian multinational and essential services player with over 2,85,000 employees, reported a revenue growth of 6 per cent at Rs 3,073 crore compared to Rs 2,904 crore a year ago. The cash logistics segment continues to post strong revenue growth with a 13.7 per cent rise over Q3 FY23, driven by new wins in cash in transit (CIT) business. The company, in a regulatory filing, said the joint venture partners in SIS Cash

KEC International Q3 results: Profit up at Rs 97 cr, income at Rs 5,032 cr

Engineering, procurement and construction company KEC International on Tuesday posted multi-fold jump in its consolidated net profit at Rs 96.87 crore in the quarter ended December 2023, aided by higher income. It had clocked a net profit of Rs 17.60 crore during the October-December quarter of the preceding fiscal, the company said in an exchange filing. The company's total income rose to Rs 5,032.70 crore from Rs 4,376.34 crore in the year-ago quarter. Expenses stood at Rs 4,911.98 crore as against Rs 4,364.91 crore in the third quarter of last financial year. KEC International, a global infrastructure engineering, procurement and construction (EPC) major, has presence in sectors like power transmission and distribution, railways, civil, urban infrastructure, solar, oil & gas pipelines, and cables.

Microsoft, Alphabet stocks under pressure to show AI earnings boost

Microsoft Corp. and Alphabet Inc., two of the biggest players in AI-related software, will report after the market close

Adani Total Gas Q3 results: Net profit rises 18% on higher CNG sales

The company, which distributes piped gas to various Indian cities, said consolidated profit rose to 1.77 billion rupees ($21 million) for quarter ended Dec 31 from 1.50 billion rupees a year earlier

Shriram General Insurance Q3 results: Net profit jumps 51% to Rs 117 cr

Shriram General Insurance reported a 51 per cent growth in net profit to Rs 117 crore for the December quarter on higher premium income, market gains, and better claims management. The company said its premium income grew 41 per cent during the quarter, led by motor business that rose 42 per cent, personal accident segment that clipped past 57 per cent, and fire insurance grew 14 per cent, taking the gross written premium during the period to Rs 850 crore. The Jaipur-based Shriram group company underwrote 10 per cent more policies during the reporting period, adding 1,681,086 new customers. The company said it has settled 47,006 claims during the third quarter of the ongoing fiscal, compared to 38,937 in the year-ago period. Motor premium grew to Rs 779 crore, which was 42 per cent higher than Rs 549 crore, personal accident segment rose 57 per cent from Rs 21 crore to Rs 33 crore, fire business went up 14 per cent to Rs 24 crore, and engineering premium rose to Rs 5 crore from Rs

Bajaj Finserv Q3 results: Net profit increases by 22% to Rs 2,158 crore

Bajaj Finserv on Tuesday reported a 22 per cent increase in consolidated net profit to Rs 2,158 crore for the December quarter. The diversified financial services group had earned a net profit of Rs 1,782 crore in the year-ago period. The company's total income increased to Rs 29,038 crore in the third quarter of the ongoing fiscal from Rs 21.755 crore in the year-ago period, Bajaj Finserv said in a regulatory filing. Interest income during the quarter increased to Rs 13,922 crore as against Rs 10,430 crore in the same period a year ago. Total expenses also moved up to Rs 23,609 crore from Rs 17,336 crore in the same quarter a year ago. During the quarter, its subsidiary Bajaj Allianz Life Insurance Company posted shareholders' profit at Rs 108 crore from Rs 81 crore, registering an increase of 33 per cent. Non-life arm Bajaj Allianz General Insurance profit remained flat at Rs 281 crore as compared to Rs 278 crore in the year-ago period.

Nuvoco Vistas Q3 results: Profit stands at Rs 31 cr, revenue at Rs 2,421 cr

Nuvoco Vistas Corp, the building materials division of the Nirma Group, on Monday, reported a net profit of Rs 31 crore in the December quarter against a net loss of Rs 75.3 crore in the year-ago period. The turnaround came on a revenue of Rs 2,421 crore and a 55 per cent jump in operating profit to Rs 421 crore, the company said in a statement. The recovery was on the back of per tonne realisation of Rs 1,048 which is the highest in the past 10 quarters. After its recent acquisitions, the installed cement capacity has touched 25 million tonnes per annum, making it the fifth-largest cement maker in the country and a leading player in the eastern states. The consolidated sales stood at 4.02 mt in the reporting quarter, taking its realization to Rs 2,421 crore. The company has successfully commissioned a 1.2 mt cement mill in Haryana during the quarter, taking the overall capacity to 25 mt. Premium products continue to remain a key focus area and have contributed significantly, with

R R Kabel Q3 results: Net profit marginally falls to Rs 70.96 crore

The company's consolidated profit fell 0.7% to 709.6 million Indian rupees ($8.5 million) in the quarter, according to an exchange filing

UTI AMC Q3 results: Profit jumps 3-fold to Rs 186 cr, revenue up 52%

UTI Asset Management Company (AMC) on Monday posted a three-fold jump in profit after tax to Rs 186 crore in the December quarter. The company's profit after tax (PAT) was Rs 60.43 crore in the year-ago period, UTI AMC said in a regulatory filing. Its total revenue from operations surged 52 per cent to Rs 449 crore during the quarter under review from Rs 295 crore in the October-December period of FY23. For the quarter ended December 31, 2023, the total assets base of the company stood at Rs 17.6 lakh crore. This includes UTI Mutual Fund's average assets under management (AUM) of Rs 2.73 lakh crore. "The increasing financial literacy and rising incomes in the nation, combined with the upward trend in returns from Indian markets, have significantly contributed to the expanding financialisation of savings. "However, a substantial portion of the population remains untapped in terms of investment participation," Imtaiyazur Rahman, Managing Director and Chief Executive Officer of UTI A

Kamdhenu Q3 results: Profit falls 7% to Rs 11 cr, income falls to Rs 157 cr

TMT maker Kamdhenu Ltd on Monday posted a 7 per cent decline in its net profit to Rs 11.14 crore during the December 2023 quarter, mainly due to lower income. It had clocked a net profit of Rs 12.02 crore during the October-December period of the preceding 2022-23 fiscal, the company said in an exchange filing. The company's total income fell to Rs 157.45 crore from Rs 183.17 crore in the year-ago quarter. However, it trimmed its expenses to Rs 142.43 crore from Rs 167.06 crore a year ago. In a statement, Kamdhenu CMD Satish Agarwal said, "In (April-December) 9M FY24, revenues marginally de-grew by 3 per cent year-on-year (y-o-y) to Rs 549 crore. EBITDA stood at Rs 43 crore and PAT increased by 10 per cent y-o-y to Rs 33 crore. Our total brand sales turnover for 9M FY24 stood at Rs 15,700 crore". The decrease in revenues and EBITDA is primarily attributed to a temporary reduction in construction activities in the Delhi NCR region during the third quarter due to the implementation

LatentView Analytics Q3 results: PAT falls to Rs 46 cr, income at Rs 188 cr

Global digital consulting and solutions firm LatentView Analytics Ltd reported a profit after tax of Rs 46.50 crore for the October-December 2023 quarter, as announced by the company on Monday. During the corresponding quarter of the previous financial year, the city-headquartered company had reported a profit after tax of Rs 52.4 crore. For the nine-month period ending December 31, 2023, the profit after tax stood at Rs 113.40 crore, compared to Rs 121.22 crore during the same period last year. Total income during the quarter under review grew to Rs 188.69 crore from Rs 167.45 crore in the same period last year. For the nine-month period ended December 31, 2023, total income rose to Rs 526.93 crore, compared to Rs 438.42 crore in the same period last year. LatentView Analytics Chief Executive Officer Rajan Sethuraman commented on the financial performance, stating, "We are particularly proud to cross the significant milestone of this being the first-ever quarter to achieve USD 20

Adani Energy Solutions Q3 results: Net profit down 27% at Rs 348 crore

Adani Energy Solution (AEML) on Monday posted over 27 per cent decline in its consolidated net profit to Rs 348.25 crore in the October-December quarter compared to the year-ago period. The country's e largest private power transmission and distribution company had reported a consolidated net profit of Rs 478.07 crore in the quarter ended on December 31, 2022, driven by a one-time regulatory income of Rs 240 crore. AEML in an exchange filing explained that the net profit in the third quarter of this fiscal includes a miscellaneous income of Rs 136 crore on account of the USD 120 million bond buy-back. The comparable PAT of Rs 281 crore was 1 per cent higher compared to Rs 280 crore in the year-ago quarter. Total income rose to Rs 4,824.42 crore in the third quarter of FY24 from Rs 3,719.31 crore in the same period a year ago. On operational parameters, it was a strong quarter with an average system availability of over 99.7 per cent, it stated. The business added 302 circuit ...

Mangalam Cement Q3 results: Profit at Rs 15.9 crore, revenue up 2.4%

Mangalam Cement Ltd on Saturday reported a multi-fold jump in its net profit to Rs 15.95 crore for the quarter ended in December 2023. The company had posted a profit of Rs 0.52 crore in the October-December quarter a year ago, according to a regulatory filing. Its revenue from operations was up 2.38 per cent to Rs 439.43 crore during the quarter under review against Rs 429.19 crore in the year-ago period. Total expenses in the December quarter were down 5.3 per cent to Rs 418.06 crore against Rs 441.50 crore in the third quarter of FY23.