Page 2 - Profit Margins

Finolex Industries Oct-Dec quarter net profit grows 24% to Rs 89.21 cr

Agri-focused pipes maker Finolex Industries on Friday reported nearly 24 per cent growth in net profit to Rs 89.21 crore for the third quarter ended December 2023, despite a decline in income from operations. The Pune-based company said its sales revenue declined by 9.3 per cent to Rs 1,019.69 crore during the reporting quarter and also saw its finance cost rise to Rs 7.7 crore from Rs 5.13 crore year-on-year. The company's profit margin rose to 8.7 per cent from 6.4 per cent in the year-ago period, the company said in a statement. Overall sales declined as PVC resin sales plunged 43 per cent to 2,759 MT from 4,863 MT, while pipes and fittings declined 10 per cent to 81,312 MT from 90,396 MT. Finolex executive chairman Prakash Chhabria said the marginal decline in volume was due to a high base, as FY23 saw a huge pent-up demand for agri-pipes and fittings, leading to highest-ever sales in the country. But this is taken care of by the soaring demand for plumbing and sanitation

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Patanjali Foods Q2 results: 126% jump in net profit, revenue drops 8%

The Food and FMCG segment achieved a revenue of Rs 2,487.62 cr in the second quarter, registering a ­5.4 per cent increase from the year ago period

Hero MotoCorp rides on robust Q2 performance and better prospects

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PayMate India achieves TPV of Rs 84,519 cr, 8 fold increase in FY23 profit

"During the last financial year, we focused on operational efficiency and driving growth," said Ajay Adiseshan, founder and CEO of PayMate

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Hyundai Motor India net profit jumps 62.3% to Rs 4,709.25 cr in FY23

Hyundai Motor India Ltd posted a 62.3 per cent jump in consolidated net profit to Rs 4,709.25 crore in the fiscal ended March 31, 2023 with the company breaching the Rs 60,000 crore revenue mark in the fiscal, according to financial data accessed by business intelligence platform Tofler. The company, which is the second largest passenger vehicles manufacturer in India, had posted a consolidated net profit of Rs 2,901.59 crore in 2021-22. Revenue from operations of the company increased to Rs 60,307.58 crore in FY23 as against Rs 47,378.43 crore in FY22. The company's total production in FY22-23 was at 7.27 lakh units over 6.06 lakh units in the previous year, an increase of 20 per cent. In terms of sales, Hyundai Motor India Ltd (HMIL) which sells popular SUVs such as Creta and Venue along with Alcazar, Tucson, sedans Verna and Aura, and hatchback Grand i10 NIOS, posted its highest ever sales in FY23. Domestic sales in FY23 were at 5.67 lakh units as compared with 4.81 lakh units

NSE makes more money than 98% of companies listed on it, shows data

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Healthy loan book growth likely to drive profitability of banks in FY24

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Porter expects biz to grow by 60%, reach operational profit by Dec 2024

Logistics services startup Porter expects its business to grow by 60 per cent to reach about Rs 3,000 crore in revenue in the current financial year on account of expansion in the category, a top company official said. The Tiger Global and Lightrock ventures-backed startup expects to become operationally profitable by December 2024, Porter Co-Founder and COO Uttam Digga told PTI. "We continue to grow at 60-70 per cent year-on-year and I think that is going to continue for the coming one or two years more. This fiscal we expect. This year Porter is hoping to have a 60 per cent growth. The company will be close to making a Rs 3,000 crore revenue," Digga said. Porter at present provides instant delivery of up to 20 kg on two-wheelers, house shifting, mini trucks, three-wheelers etc for delivery of goods and it has recently forayed into courier service. The company currently operates in about 19 cities. "There are two levers for us to grow the business. One is category expansion. This

Surya Roshni profit increases two-fold to Rs 59 crore in June quarter

Lighting products and pipe maker Surya Roshni on Friday reported a two-fold increase in consolidated net profit to Rs 59.13 crore for the June quarter driven by reduced finance costs. It had posted a consolidated net profit of Rs 22.24 crore in the year-ago period, the company said in a regulatory filing. Revenue from operations was up 2 per cent to Rs 1,875.27 crore in the first quarter of the current fiscal as against Rs 1,839.89 crore last year. "Profit after tax stood at Rs 59 crore, reporting a growth of 166 per cent, on account of reduced finance cost," said an earning statement from the company. Total expenses of Surya Roshni were Rs 1,795.91 crore, up 11.46 per cent in the first quarter of 2023-24. Its total income rose 2 per cent to Rs 1,877 crore. The company's revenue from steel pipe and strips was marginally down to Rs 1,502.80 crore from Rs 1,504.44 crore in the corresponding quarter last year. "The revenue remained flattish due to lower steel prices. However, raw ..

JSPL net profit declines 13% to Rs 1,692 crore in Q1 due to high expenses

Private steel player Jindal Steel and Power Ltd (JSPL) on Friday posted a 13 per cent decline in consolidated net profit to Rs 1,692 crore for the June quarter due to higher expenses. It had clocked a net profit of Rs 1,990 crore in the April-June period a year ago, the company said in a regulatory filing. The company's total income was at Rs 12,643 crore in the first quarter of the current fiscal compared to Rs 13,069 crore in the year-ago period. Its total expenses rose to Rs 10,876 crore from Rs 10,566 crore. "We have achieved a significant milestone of successfully commissioning our state-of-the-art pellet plant at Angul (Odisha). "We have also signed mining lease for two thermal coal mines -- Gare Palma IV/6 and Utkal C -- which will lead to consistent availability of coal for our thermal coal requirements in DRI (Directly Reduced Iron) kilns, coal gasification and power plants at lower costs," JSPL Managing Director Bimlendra Jha said in a statement. During the quarter, the

Kalpataru Projects International profit rises over 28% to Rs 113 cr in Q1

Kalpataru Projects International on Friday said it posted over 28 per cent rise in consolidated net profit at Rs 113 crore in the June quarter mainly on the back of higher revenues. The company had reported a consolidated net profit of Rs 88 crore in the year-ago quarter, a BSE filing showed. Total income of the company rose to Rs 4,259 crore in the first quarter of the current fiscal from Rs 3,691 crore a year ago. The board also approved the proposal for issuing secured/unsecured redeemable non-convertible debentures of up to Rs 300 crore by the company in one or more tranches. "We have delivered another quarter of strong performance with notable growth in revenue, profitability and order book. We continue to deliver resilient and competitive performance while improving our consolidated EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortisation) margin by 40 basis points to reach nine per cent for Q1 (June quarter)," Manish Mohnot, managing director and chief executiv

Sanofi India Q2 net profit up 2.5% at Rs 123 cr, revenue at Rs 706 cr

Drug firm Sanofi India on Thursday said its net profit increased by 2.5 per cent to Rs 123 crore for the second quarter ended on June 30, 2023. The company reported a net profit of Rs 120 crore in the April-June quarter of last year. Revenue from operations rose to Rs 706 crore in the period under review from Rs 699 crore in the same period last year, Sanofi India said in a regulatory filing. The company follows a January-December financial year. "The company has delivered a strong second quarter performance despite the National List of Essential Medicines (NLEM) impact," Sanofi India Managing Director Rodolfo Hrosz said. The company will continue to focus on driving further improvement in operating efficiencies while expanding the availability of its established and innovative products in India, he added.