Page 2 - Ebitda

Vedanta Resources posts 2nd highest consolidated EBITDA of $4.7 bn in FY24

Vedanta Resources, the parent company of India-listed mining group, posted its second highest ever consolidated EBITDA of USD 4.7 billion for FY24, a year which its chairman Anil Agarwal described as 'pivotal year' that will result in "a strong Vedanta." Revenue (before special items) for the year at USD 17.1 billion was 6 per cent lower than USD 18.1 billion of the previous year "primarily driven by lower output commodity prices primarily of aluminium, zinc and brent, partially offset by higher volume at aluminium, copper and iron ore business," the conglomerate said in a statement on its website. It posted the second highest ever consolidated EBITDA of USD 4.7 billion, 2 per cent higher year-on-year (FY 2022-23: USD 4.6 billion). "This was mainly due to softening of input commodity prices coupled with strategic cost savings, one time arbitration award in oil and gas business which is partially offset by slip in commodity prices primarily of aluminium, zinc and brent and strategic .

Bharti Airtel's Africa Ebitda likely to contract by about 20%: S&P Global

Bharti Airtel's Africa EBITDA is expected to be reduced by about 20 per cent in the current fiscal and register slow overall earnings growth, credit rating agency S&P Global said on Monday. The credit rating agency, however, said Bharti Airtel's overall earnings growth will likely remain on an uptrend, and its average revenue per user will continue to rise gradually in the Indian mobile market. "Currency-induced weakness in Bharti Airtel Ltd's African operations will weigh on earnings from that region and slow overall earnings growth. We expect that reported EBITDA from the African operations could contract by about 20 per cent in fiscal 2025 (year ending March 31, 2025) in Indian rupee terms," S&P Global said. Bharti Airtel on Tuesday posted a 31 per cent drop in consolidated profit to Rs 2,072 crore in the March 2024 quarter, mainly due to the devaluation of the Nigerian Naira. Airtel suffered a forex loss of Rs 2,544.4 crore on account of currency devaluation. "Africa ...

eClerx Services shares drop 5% as IT firm announces share buyback, Q4 show

eClerx plans to allocate up to Rs 385 crore for its buyback, equivalent to 24.98 per cent of the total paid-up equity share capital and 18.38 per cent of free reserves

Brokerages raise targets on RIL stock post Q4; check latest prices here

The bullish outlook stems from Reliance Jio's potential tariff hikes, given the competitive landscape, along with slow but steady improvement in the oil-to-chemical (O2C) vertical

ABB confident about faster revenue growth in 2024 despite China slowdown

ABB shares were indicated to open 2.2% higher in premarket activity in Zurich

Operationally profitable for two quarters: Fashion platform Myntra

Brands on Myntra have recorded strong year-on-year (YoY) growth, with the catalogue size on the platform also having grown by over 50 per cent in the last year

ZEE introduces monthly management mentorship programme to meet key metrics

A special committee has been formed to offer strategic guidance, which includes achieving the targeted 20% Ebitda margin set forth by the MD & CEO

Prospects of Havells India seen improving; but positives priced in

Havells has established two US subsidiaries in order to develop exports. The company is also eyeing the Middle East

Healthtech unicorn Pristyn Care lays off 120 employees, eyes profitability

This is the second time the firm has laid off employees. Pristyn had, in March last year, reportedly laid off 45 employees due to poor performance

Vedanta eyes $6 bn Ebitda in FY25, reiterates guidance on profit targets

Mining conglomerate Vedanta Group is eyeing USD 6 billion of pre-tax profits in the next financial year and scaling it to USD 7-7.5 billion in the following year on the back of operational efficiencies across businesses. "The building blocks are already in place, and largely under our control for EBITDA augmentation. The increase will be driven by ongoing cost optimization, price increases and volume ramp-up," Ajay Goel, CFO, Vedanta Limited said at a recent analysts' meet. The company is expected to clock nearly USD 5 billion of EBITDA in FY24 (April 2023 to March 2024); adjusting for one-time gains of the Cairn arbitration, the operational EBITDA for FY24 will be USD 4.4 billion. The ambitious EBITDA target of USD 6 billion represents a jump of over 35 per cent. "Most of this growth, nearly 15 per cent, will be driven by cost optimization measures. Price upticks, for example through increase in value added aluminium products, will account for another 8 per cent. Ramp-ups in ...

Encouraging signals

Q3FY24 results show private capex and rural demand improving

Capacit'e Infraprojects Q3 results: Net profit grows 6% to Rs 30 crore

Capacit'e Infraprojects on Wednesday posted a 6 per rise in its consolidated net profit to Rs 30 crore during the third quarter ended December 2023, driven by higher income. It had clocked a net profit of Rs 23 crore in the October-December period of FY23, the company said in an exchange filing. The company's revenue from operations rose 8.57 per cent to Rs 481 crore against Rs 443 crore a year ago. The EBITDA (earnings before interest, taxes, depreciation, and amortisation) stood at Rs 89 crore compared to Rs 90 crore in the year-ago quarter. The company's order book stood at Rs 9,670 crore as of December 31, 2023, of which the public sector accounts for 65 per cent while the remaining came in from the private sector. The company's Executive Director Rohit Katyal said, "Over the past few years, while our order book size has expanded significantly, our project under execution has reduced, leading to higher revenue contribution per project, better management and improved margin ...

Black Box Q3 results: Net profit rises to Rs 41 crore, revenue remains flat

IT company Black Box posted a multi-fold jump in consolidated net profit to Rs 40.87 crore in the December quarter on account of cost rationalisation and enhanced productivity. The company had posted a net profit of Rs 7.79 crore in the year-ago period, it said in a regulatory filing on Friday. The consolidated revenue of Black Box during the third quarter of the current fiscal remained almost flat at Rs 1,655.47 crore compared to Rs 1,671.71 crore a year ago. "We are delighted by our achievements in the third quarter and nine months of FY24. Our EBITDA margins and overall profitability both on a quarter-on-quarter and year-on-year basis increased substantially due to our emphasis on cost rationalisation and enhanced productivity. "Strong order book, coupled with deal wins in excess of USD 50 million during the quarter, makes us confident in our resilient business model," Black Box Whole Time Director Sanjeev Verma said. The company said its strategy to focus on large revenue ...

Licious lays off 3% of its workforce amid restructuring exercise

The affected employees were informed on Friday. Licious has offered two months of compensation, along with the variable payout for FY 2024, to the retrenched employees, said the company

OYO expects consistent PAT rise in upcoming quarters: CEO Ritesh Agarwal

Hospitality and travel-tech firm OYO expects a consistent rise in its Profit After Tax (PAT) after doubling it sequentially in Q3 FY24 to Rs 30 crore, according to company Founder & CEO Ritesh Agarwal. Agarwal shared the update about the two-fold increase in the company's profit during an employee town hall on Friday. Oravel Stays Ltd, which operates travel tech brand OYO, had its maiden profitable quarter in Q2 FY24 with a PAT of Rs 16 crore. "In the upcoming quarters, we anticipate a consistent rise in PAT, driven by enhanced patron confidence, improved customer experience , and favourable market conditions conducive to sustained growth," Agarwal told the employees. He also informed the staff that the company clocked adjusted EBITDA of Rs 750 crore in FY23 and expects to clock adjusted EBITDA of Rs 1,000 crore in FY24, surpassing its earlier projection of Rs 800 crore for FY24. When contacted, OYO spokesperson declined to comment. Last year OYO had prepaid Rs 1,620 crore debt .

Vanguard slashes Ola's valuation by another 29% to $1.88 billion

Last year in February, Vanguard marked down the valuation of ANI Technologies by about 34 per cent to $4.8 billion from $7.3 billion

Triveni Turbine Q3 results: Net profit grows 30% to Rs 68.30 crore

Triveni Turbine on Monday posted a 30 per cent rise in consolidated net profit to Rs 68.30 crore in the December quarter, aided by higher income. It had clocked a net profit of Rs 52.60 crore in the year-ago period, the company said in an exchange filing. The company's total income rose to Rs 448.92 crore in the third quarter of the ongoing fiscal from Rs 337.70 crore a year ago. Expenses rose to Rs 354.06 crore from Rs 267.66 crore in the third quarter last fiscal. In a statement, company's CMD Dhruv M Sawhney said the order booking during the April-December period grew 27 per cent to Rs 1,443 crore, with export contribution increasing to 53 per cent as against 42 per cent in the previous corresponding period. The robust growth in order booking, along with an improved export contribution, provides good visibility for both revenues and profitability for the next year, he said. The company's EBITDA rose 34 per cent to Rs 100.9 crore from Rs 75 crore in the same period a year ago.

Balu Forge Industries Q3 result: Net profit grows over two-fold to Rs 25 cr

Balu Forge Industries Ltd (BFIL) on Saturday reported over two-fold rise in its consolidated net profit to Rs 25.4 crore for the December quarter, boosted by higher income. It had posted a net profit of Rs 11.4 crore during the October-December quarter of 2022-23, the company said in an exchange filing. The company's total income rose to Rs 148.9 crore, up 55 per cent over Rs 92 crore in the year-ago quarter. Trimaan Chandock, Executive Director of BFIL said, "The growth was led by our constant focus on client addition and continued demand for our products in the existing and new industries like railways, defence and heavy commercial vehicles." The company's EBITDA grew by 72.1 per cent and margins improved to 22.24 per cent in the third quarter of FY24 from 19.58 per cent a year ago owing to an increase in scale of operations and increased demand for heavier products which tend to yield better margins, he said. BFIL facility is located in Belgaum, Karnataka and has an existing ..

Tata Motors Q3 results: Net profit jumps 137% to Rs 7,025, revenue up 25%

The company remains upbeat on all three auto businesses and expects to do better in Q4

RITES Q3 results: Profit drops 13% to Rs 129 cr, income at Rs 699 cr

RITES Ltd on Thursday reported 12.5 per cent drop in consolidated profit at Rs 128.78 crore for the quarter ended December 31, 2023. The company had posted a profit of Rs 147.18 crore for the year-ago period, RITES said in a filing to BSE. Income dropped to Rs 699.85 crore from Rs 703.38 crore in the year-ago period, the filing said. The sequential progress is in line with the direction that we had strategised in the beginning of the FY, in having received an export order after a long gap, sustained growth in our project consultancy revenue and steady growth in our EBITDA," RITES Ltd Chairman and Managing Director Rahul Mithal said. RITES Ltd, an enterprise under Ministry of Railways, is a multidisciplinary engineering and consultancy organization, providing a comprehensive range of services from concept to commissioning in all facets of transport infrastructure and related technologies.