Page 3 - Profit Margins

Insecticides India Q1FY24 profit falls 24% on higher expenses

Insecticides (India) Ltd on Thursday posted a 24 per cent drop in its consolidated net profit to Rs 29.14 crore during the first quarter of 2023-24 on higher expenses. Net profit stood at Rs 38.30 crore in the same quarter of the previous financial year, according to a regulatory filing. Total consolidated income increased to Rs 639.95 crore during the April-June quarter of the 2023-24 fiscal from Rs 560.68 crore in the year-ago period. However, the company's expenses were higher at Rs 604.35 crore as against Rs 510.26 crore in the said period. The company said it incorporated a wholly-owned subsidiary IIL Overseas DMCC (Dubai) on May 1 this year to carry out the business of trading of insecticides, agricultural and veterinary products. Shares of the company settled lower by 0.71 per cent at Rs 463.45 apiece on BSE on Thursday.

PepsiCo India reports multi-fold rise of Rs 268 cr in FY23 profit

Food and beverages major Pepsico India Holdings Pvt Ltd reported a multi-fold rise in consolidated profit at Rs 267.80 crore in 2022-23 fiscal, according to financial data accessed by business intelligence platform Tofler. The company's revenue from sale of products and services was up 28.47 per cent to Rs 8,127.07 crore during the year, it said. The company -- which is not a listed entity -- had reported a profit of Rs 41.63 crore and sales worth Rs 6,325.70 crore in 2021-22. Pepsico India Holdings Pvt Ltd's other income increased 20 per cent to Rs 98.83 crore in 2022-23 (FY23). The total revenue of the company, which owns popular brands such as Pepsi, Lay's, Kurkure, and Tropicana, rose 28.35 per cent to Rs 8,302.02 crore in FY23. PepsiCo entered India in 1989 and has grown to become one of the largest food and beverage businesses in the country. Its revenue from the "beverages" segment was up 86.19 per cent to Rs 1,404.46 crore in FY23 while the same from the "snacks" segment

Axiscades back in black with consolidated net profit of Rs 5.70 cr in Q1

Engineering solutions provider Axiscades Technologies has returned to black posting a consolidated net profit of Rs 5.70 crore during the quarter ended June 30, backed by higher income. It had clocked a net loss of Rs 31.69 crore during the April-June period of the preceding 2022-23 fiscal, the company said in a regulatory filing on Friday. The company's total income surged to Rs 216.33 crore from Rs 186.92 crore in the year-ago quarter. In a separate statement, David Bradley, Chairman of Axiscades, said: "We have started fiscal year 2024 on firm footing, recording a revenue growth of 17 per cent and EBITDA growth by 45 per cent year on year. The recent acquisition of add solution GmbH will give us access to global OEMs (original equipment manufacturers) and help us expand our product offerings to the automotive industry." These acquisitions have been accretive to company's earnings and have helped to achieve its long-term growth goals, he added. Bengaluru based Axiscades is a lea

Kilburn Engineering reports 145% surge in PAT to Rs 7.09 crore in Q1

Expressing optimism for the remaining quarters, the company cited its current order book and pending enquiries of over Rs 700 crore at various stages of quotation

Star Health Insurance net profit increases 35% to Rs 288 cr in Q1

Star Health and Allied Insurance on Friday reported a 35 per cent increase in net profit to Rs 288 crore for the June 2023 quarter. The standalone health insurer posted a net profit of Rs 213 crore during the April-June period of 2022-23. The company's total income during the June quarter rose to Rs 3,190 crore against Rs 2,809 crore in the year-ago period, Start Health said in a regulatory filing. Gross written premium increased to Rs 2,949 crore in Q1 FY24 compared to Rs 2,464 crore in the same period a year ago.

SBI Life Insurance Q1 results: Net profit rises 45% to Rs 380 crore

New Business Premium (NBP) has grown by 11% to Rs 6210 crore in Q1 FY 24 aided by growth in single premium business by 18%

HDFC Life Q1 profit rises 15% to Rs 415 crore; total premium up 16%

HDFC Life on Friday reported 15 per cent increase in net profit at Rs 415 crore for first quarter of the current fiscal year. The company had reported Rs 361 crore profit in April-June 2022-23. The total premium rose 16 per cent to Rs 11,673 crore during the quarter as compared with Rs 10,050 crore in the year-ago period, HDFC Life said in a statement. During the latest quarter, the first-year premium collection rose 19 per cent to Rs 5,869 crore from Rs 4,949 crore in the same period a year ago. The company's solvency stands at 200 per cent as compared to 178 per cent in the same quarter a year ago. The board has recommended a dividend of Rs 1.90 per share aggregating to a payout of Rs 408 crore subject to approval by the shareholders. Indian Embedded Value of the company witnessed 29 per cent increase to Rs 41,843 crore at the end June 2023.

United Spirits reports net profit at Rs 477 crore for first quarter

United Spirits on Thursday reported a consolidated net profit of Rs 477 crore for the first quarter ended June 2023. The company had posted a net profit of Rs 261 crore in the April-June quarter of the last fiscal. Total income rose to Rs 5,830 crore in the first quarter. It stood at Rs 7,157 crore in the year-ago period. In a regulatory filing, United Spirits said the results of the quarter were not comparable to the June quarter of last fiscal as the company completed a slump sale of the entire business undertaking associated with 32 brands to Inbrew Beverages on September 30, 2022. United Spirits CEO & Managing Director Hina Nagarajan said the company has commenced fiscal 2024 with a robust first quarter performance. "While inflationary pressures remain, our strategy to reshape the portfolio combined with revenue growth management and focus on everyday efficiency is driving sustainable growth across the Prestige & Above segment," she added. Royal Challengers Sports, the ...

Marsh McLennan beats Q2 profit estimates on interest income boost

Ten successive rate hikes by the U.S. Federal Reserve have helped companies net higher interest income on funds they hold on behalf of clients

Nokia Q2 profits fall as clients in North America shun investments

Wireless and fixed-network equipment maker Nokia on Thursday reported a fall in second quarter profit as clients especially in North America postponed investments due to a slowdown in economic growth and rising financing costs. The Espoo, Finland-based company reported net profit of 414 million euros (USD 464 million) for the April-June period, down 29 per cent from 585 million euros a year earlier. Net income attributable to shareholders was 415 million euros, down from 582 million euros the previous year. Nokia's sales were down 3 per cent at 5.7 billion euros. Among other network products, Nokia is one of the world's main suppliers of 5G, the latest generation of broadband technology, along with Sweden's Ericsson, China's Huawei and South Korea's Samsung. Earlier in the year I highlighted that we were starting to see signs of macroeconomic challenges along with inventory digestion impacting customer spending and this has intensified through the second quarter, CEO Pekka Lundmark

DB Corp reports 2.5-fold rise in net profit to Rs 78.75 cr in Q1FY24

Media firm DB Corp Ltd on Thursday reported over two-and-half-fold jump in consolidated net profit at Rs 78.75 crore in the first quarter ended June 30, 2023 riding on robust advertising revenue growth. The company had posted a consolidated net profit of Rs 31 crore in the same period last fiscal, DB Corp said in a regulatory filing. Consolidated total income during the period under review stood at Rs 573.6 crore, as compared to Rs 499.38 crore in the corresponding quarter last fiscal, it added. Total expenses in the first quarter were at Rs 469.97 crore, as against Rs 457.3 crore in the same period a year ago. The company, which publishes newspapers including Dainik Bhaskar, Divya Bhaskar, Divya Marathi and Saurashtra Samachar, said the resurgence in print media continues to dominate all forms of media as the most trusted source of news, and this resurgence has resulted in a strong fillip as advertisers look for the best avenue for their marketing spends. "Print advertisement ...

Newgen Software Technologies profit rises 57% to Rs 30 cr in April-June

Unified digital transformation solutions provider Newgen Software Technologies Ltd on Wednesday reported a 57 per cent rise in its profit after tax at Rs 30 crore in the April-June quarter of the current fiscal. The company had reported a profit after tax (PAT) of Rs 19.2 crores in the first quarter of the previous fiscal, Newgen Software said in a release. Revenue from operations stood at Rs 251.7 crore in the reporting quarter, which was 34 per cent higher than Rs 187.9 crore in the year-ago period. According to Diwakar Nigam, the Chairman & Managing Director of Newgen Software Technologies, the company witnessed the highest quarterly revenue growth rate amid rising demand for digital transformation and automation. "We are witnessing immense opportunities for digital journeys across the financial services sector as well as new requirements for automation at scale. The launch of the recent version of NewgenONE platform further shows our commitment towards this direction. We are ..

Jubilant Pharmova's Q1 consolidated net profit dips 87% at Rs 6 cr

Jubilant Pharmova Ltd on Wednesday reported an 87 per cent decline in consolidated net profit at Rs 6 crore in the first quarter ended June 30, impacted by higher expenses. The company had posted a consolidated net profit of Rs 46.8 crore in the same period last fiscal, Jubilant Pharmova said in a regulatory filing. Consolidated total revenue from operations were at Rs 1,586.9 crore, as compared to Rs 1,451.7 crore in the year-ago period, it added. Total expenses in the first quarter were at Rs 1,568.9 crore, as compared to Rs 1,393.8 crore in the corresponding period a year ago. Among various segments, Jubilant Pharmova said the radiopharmaceuticals vertical clocked a revenue of Rs 204 crore in the first quarter, while the radiopharmacies registered Rs 487 crore revenue. The generics business had a revenue of Rs 202 crore and the contract development and manufacturing organisation (CDMO) API segment had posted revenue of Rs 177 crore.

Himadri Speciality Chemical Q1 net profit more than doubles to Rs 86 cr

Himadri Speciality Chemical Limited's profit after tax during the June 2023-24 quarter has more than doubled to Rs 86 crore, on account of reduced expenses. It had posted Rs 38 crore profit after tax (PAT) in the corresponding period in 2022-23, Himadri Speciality Chemical Limited (HSCL) said in a regulatory filing on Tuesday. However, the company's total income fell to Rs 961 crore from Rs 1,048 crore in the year-ago quarter, it said. The expenses also reduced to Rs 842 crore from Rs 1,000 crore earlier. "Our performance during this period is attributable to the consistent move towards value-added products. Our business priorities are aligned with global sustainability goals," Anurag Choudhary, CMD & CEO of Himadri Speciality Chemical Ltd said. He further said that the role of lithium-ion batteries (LiB) technology has evolved and stabilized over the last few decades to become commercially feasible across all segments viz. electric vehicles, energy storage and consumer ...

Morgan Stanley profit drops 18% in second quarter as deal doldrums persist

Global M&A activity fell 36% in the second quarter versus a year earlier, according to Dealogic. Still, its climb from the first quarter has sparked hopes of a nascent recovery

HeidelbergCement Q1 profit rises 1.4% to Rs 52.32 cr amid easing fuel price

HeidelbergCement India on Tuesday reported a marginal rise of 1.37 per cent in net profit at Rs 52.32 crore for the first quarter ended June 30, amid easing fuel price and packaging cost. The company had reported a net profit of Rs 51.61 crore in the April-June quarter a year ago, HeidelbergCement India said in a regulatory filing. Its total revenue from operation rose marginally to Rs 595.64 crore during the quarter under review. It was Rs 589.89 crore in the corresponding quarter of the previous fiscal. "On a per tonne basis, total operating cost including freight, decreased by 6 per cent y-o-y primarily due to a decrease in fuel prices and packaging cost," HeidelbergCement said in its earnings statement. HeidelbergCement India's total expenses were at Rs 538.90 crore, up 1.51 per cent in the first quarter of the financial year 2023-24. However, in the June quarter, HeidelbergCement's sales volume was up 8.2 per cent to 1,203 KT, as against 1,112 KT in the corresponding quarter.

Choice International reports 3-fold rise in profit after tax to Rs 21.3 cr

Brokerage house Choice International on Monday reported a nearly three-fold growth in profit after tax to Rs 21.3 crore in the June quarter. In comparison, the broking company had a PAT of Rs 7.7 crore in the year-ago period, the Mumbai-based firm said in a regulatory filing. Its total revenue jumped 77 per cent to Rs 139.3 crore in the first quarter of the current fiscal from Rs 78.7 crore in 2022-23. Choice International said 59 per cent of its revenues came from the stock broking business, 28 per cent from the advisory segment and the remaining 13 per cent from its non-banking financial company segment. The company added 41,000 demat accounts in the June quarter, taking the total number to 7.21 lakh. In late afternoon trade on the BSE, shares of Choice International gained 2.21 per cent to Rs 354.1 apiece.

Wells Fargo raises outlook for interest income after profit surges 57%

Wells Fargo reported profit of $1.25 per share for the three months ended June 30, beating analysts' average estimate of $1.16 per share, according to Refinitiv data

Net profit of listed commercial banks seen growing 44% in Q1 FY24

Healthy growth in NII, controlled credit costs to support bottom line: Analysts

Allcargo Logistics net profit declines 78% to Rs 51.90 cr in March quarter

Allcargo Logistics' consolidated net profit declined 78 per cent to Rs 51.90 crore in the March 2023 quarter, according to a late-night regulatory filing on Tuesday. The company had posted a consolidated profit of Rs 240.55 crore in Q4 FY22, the filing said. Allcargo, in a statement, announced the appointment of logistics industry veteran Adarsh Hegde as its Managing Director. The consolidated net profit in the January-March quarter of the previous fiscal stands at Rs 51.90 crore, taking into consideration profit from continuing and discontinuing operations, as per the filing. The total income from continued operations slipped 37.49 per cent to Rs 3,415.40 crore in the quarter under review against Rs 5,464.23 crore clocked in the March 2022 quarter, it added. For the full fiscal 2022-23, its consolidated profit (from continuing and discontinuing operations) fell 48 per cent to Rs 653.21 crore from Rs 964.59 crore in FY22. The total income (consolidated) from continuing operations