Page 4 - Earnings Growth

Websol Energy System Q3 results: Net loss at Rs 54 cr on asset impairment

Websol Energy System on Thursday reported a net loss of Rs 54 crore for the December 2023 quarter, mainly due to the impairment of a few assets. "The company has reported a loss of Rs 54.64 crore for the quarter ending December 2023," a BSE filing stated. The company explained that this loss will be carried forward and adjusted against future profits. The reason for such loss is that few assets have to be impaired as new assets from the expansion will be replacing the same, it added. The company also suffered a loss of Rs 6.83 crore in the year-ago quarter ended December 2022. As per an estimation, Rs 96.86 crore of fixed assets (plant and machinery) would be impaired during the current financial year. Further, it stated that certain fixed assets to the extent of Rs 26.23 crore may need to be impaired, and the same will be ascertained after detailed impairment analysis and commencement of commercial production to finally ascertain certain assets, which can continue to be used.

Sterlite Tech Q3 results: Loss at Rs 57 crore amid optical demand headwinds

Optical and digital solutions company Sterlite Technologies (STL) on Thursday reported a loss of Rs 57 crore on a consolidated basis in December quarter 2023-24, hit by ongoing optical demand headwinds, especially in the US and parts of Europe. The company had posted a net profit of Rs 51 crore in the year-ago period. Revenue from operations was Rs 1,322 crore in Q3FY24, the company said in a regulatory filing. Revenue stood at Rs 1,883 crore in the year-ago period. EBITDA declined sequentially to Rs 109 crore from Rs 216 crore. "The company reported a sequential decline in revenue and EBITDA in Q3 FY24 amidst ongoing optical demand headwinds, especially in the US and parts of Europe," STL said in a release. Ankit Agarwal, Managing Director of STL said the downturn is temporary. While this downturn is temporary, the cost base and capabilities that we have built around product design, quality, manufacturing presence, and sustainability will reap benefits far into the future," Agar

Tata Technologies Q3 results: PAT rises 14.72% to Rs 170.22 crore

Global engineering and product development digital services firm Tata Technologies Ltd on Thursday reported a 14.72 per cent rise in consolidated profit after tax at Rs 170.22 crore for the third quarter ended December 2023. The company had posted a consolidated profit after tax (PAT) of Rs 148.38 crore in the same quarter last fiscal, Tata Technologies said in a regulatory filing. Its consolidated revenue from operations in the quarter under review stood at Rs 1,289.45 crore against Rs 1,123.89 crore in the year-ago period, it added. The total expenses were higher at Rs 1,085.14 crore compared to Rs 947.42 crore in the same period last fiscal, the company said. "Our deal win momentum has stayed robust, with five large deals won in the quarter, including one deal with over USD 50 million in TCV (total contract value) and another one with USD 25 million in TCV," Tata Technologies CEO and Managing Director Warren Harris said. "We remain positive on customer spending in the automotiv

LT Foods Q3 results: Net profit soars by 52% to Rs 153 cr, revenue up 9%

LT Foods Ltd on Thursday reported 52.07 per cent rise in consolidated net profit at Rs 152.64 crore for the third quarter ended December 2023. It had logged a net profit of Rs 100.37 crore in the year-ago period, according to a regulatory filing by LT Foods, which owns basmati rice brands Daawat and Royal. Revenue from operations was up 9.17 per cent to Rs 1,941.72 crore during the quarter under review as against Rs 1,778.47 crore a year ago. Total expenses were up 5.46 per cent to Rs 1,757.67 crore. Total income was at Rs 1,949.68 crore, higher by 8.8 per cent from the corresponding quarter a year ago. Meanwhile, the board of LT Foods in a meeting held on Thursday, also approved issuance and listing of commercial papers for an amount of Rs 500 crore. Shares of LT Foods on Thursday settled at Rs 196.05 apiece on BSE, down 4.01 per cent from the previous close.

Adani Power Q3 results: Net profit rises multi-fold to Rs 2,738 crore

Adani Power on Thursday posted a multi-fold increase in its consolidated net profit to Rs 2,738 crore for the December quarter compared to the year-ago period driven by higher revenues. The company had reported a profit of Rs 9 crore in the third quarter of 2022-23. Total income rose to Rs 13,355 crore in the quarter from Rs 8,290 crore in the same period a year ago, a company statement said. "Adani Power continues to demonstrate its leadership across domains by achieving ever higher standards of excellence, as evidenced by the financial results for the third quarter of FY 2023-24," Adani Power CEO S B Khyalia said in the statement, The company's strategically located power plants and optimal capacity allocation between PPAs (power purchase agreements) and merchant capacities, coupled with its strength in fuel management & logistics and excellence in power plant O&M, have allowed it to address growing power demand and generate robust profitability, he said. This has resulted ..

Cyient Q3 results: Profit drops 2% to Rs 153 crore, narrows guidance

The Hyderabad-headquartered company's consolidated net profit dropped 2% to 1.53 billion rupees ($18.42 million) for the quarter ended Dec. 31

Birlasoft Q3 profit at Rs 161 cr, revenue rises by 10% to Rs 1,342.5 cr

IT company Birlasoft on Wednesday reported Rs 161 crore consolidated profit after tax for the third quarter ended December 2023, the company said in a regulatory filing. The company had posted a loss of Rs 16.36 crore in the same quarter a year ago. The revenue from operations of Birlasoft grew by about 10 per cent to Rs 1,342.5 crore in the December 2023 quarter from Rs 1,221.89 crore in the December 2022 quarter. "We have delivered a strong and well-rounded operating performance, with a 1.9 per cent sequential growth in revenue to USD 161.3 million in a seasonally soft quarter and an expansion in EBITDA margin even after absorbing the full impact of compensation hikes," Birlasoft, Chief Executive Officer and Managing Director Angan Guha said in a statement. The headcount of the company slightly increased to 12,356 during the December 2023 quarter from 12,322 in the previous quarter, with the attrition rate falling to 12.6 per cent during the reported quarter. "Our sharp focus on

Tata Steel Q3 profit at Rs 513 crore as lower costs counter weak revenue

Subdued local prices due to cheaper shipments from top producer China hurt the country's steelmakers in the October-December period, despite sustained domestic demand

Bajaj Auto Q3 PAT rises 38% to Rs 2,033 crore, revenue at Rs 12,165 crore

Bajaj Auto Ltd on Wednesday reported a 38 per cent jump in consolidated Profit After Tax (PAT) to Rs 2,032.62 crore in the December quarter. The company had posted a consolidated PAT of Rs 1,472.7 crore in the year-ago period, Bajaj Auto said in a regulatory filing. Consolidated total revenue from operations in the third quarter of the ongoing fiscal stood at Rs 12,165.33 crore, up from Rs 9,318.54 crore in the year-ago period, it added. Total expenses were higher at Rs 9,855.44 crore as against Rs 7,644.55 crore in the same period a year ago, the company said. Growth in revenue was led by acceleration in domestic business, which on the back of sharp execution and impactful activation during the festive season, cushioned the relatively subdued, albeit recovering, export sales amidst continued challenges in overseas markets, Bajaj Auto said. The company said while navigating volatile overseas markets, exports posted near double-digit revenue growth on better mix and dollar ...

IOC Q3 net profit soars to Rs 8,063 cr, on road to best-ever annual earning

Indian Oil Corporation (IOC) on Wednesday reported a massive jump in its third quarter net profit as compared to the year-ago period when it was financially struggling as input raw material crude oil prices spiked but retail finished product prices remained on freeze. Standalone net profit of Rs 8,063.39 crore in October-December 2023-24 was higher than Rs 448.01 crore profit in the same period a year ago but lower than Rs 12,967.32 crore earnings in the preceding three months ended September 30, 2023, according to a stock exchange filing by the company. The profit was aided by a boost in marketing margins as a freeze on petrol and diesel price revision despite a fall in input crude oil prices helped recover losses incurred when rates were high in 2022-23. Pre-tax earnings from sale of petroleum products soared to Rs 11,428.88 crore in the third quarter of the current fiscal compared to Rs 1,541.95 crore in the same period last year. IOC uses mostly imported crude oil to make fuel

Tech Mahindra Q3 profit declines 60% as communications vertical lags

The Mahindra group company had reported a net profit of Rs 1,296.6 crore in the year-ago period while the same was at Rs 493.9 crore in the quarter-ago period

GE flags lower-than-expected profit in its first quarter, shares fall by 1%

The company's shares were down about 1% in morning trade

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

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.

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

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

Quarterly earnings, global trends to guide equity mkts this week: Analysts

Movement in the equity market this week will largely be dictated by quarterly earnings of blue-chip firms HDFC Bank and Hindustan Unilever, along with the announcement of WPI inflation data and global trends, analysts said. Trading activity of foreign investors, global oil benchmark Brent crude and rupee-dollar trend would also guide the movement. "The focus will shift towards Q3 earnings, with key players such as HDFC Bank, HUL, Asian Paints, IndusInd Bank, and Ultratech Cement set to announce their results. Pre-Budget expectations are also likely to influence the sector and stock-specific movements," Santosh Meena, Head of Research, Swastika Investmart Ltd said. As the market gears up for the Budget, institutional flows will play a crucial role in determining its direction, he added. WPI inflation data for December is scheduled to be announced on Monday. "On the global front, macroeconomic data from the US and China, along with movement in the dollar index, US bond yields, and c