Page 15 - Q2 Results

M&M Financial Services net profit falls 55% to Rs 492 cr in July-September

Mahindra & Mahindra Financial Services (Mahindra Finance) on Wednesday reported over 55 per cent decline in its net profit at Rs 492 crore in the quarter ended September 2022. In the year ago same quarter ended September 2021, it had posted a net profit of Rs 1,103 crore. Total income increased 3 per cent to Rs 3,029 crore during the quarter under review against Rs 2,951 crore during the corresponding quarter last year, it said in a release. The non-banking finance company focused on providing financial services in the rural and semi-urban markets said in Q2FY22 it had witnessed significant reversal of impairment provisions due to improvement in asset quality which had deteriorated during Q1 FY22 during the second wave of Covid-19. This had resulted in a higher profit after tax.

PNB Q2 net profit slips 63% to Rs 411.3 crore as NPA provisions rise

PNB's total income during July-September 2022 was Rs 23,001.3 crore as against Rs 21,262.3 crore a year ago

Jindal Stainless Q2 results: Profit more than halves; revenue up 11.5%

While input costs fell 3% as raw material prices cooled off from their peak, power and fuel costs surged about 35%

Cement maker Dalmia Bharat Sept quarter profit falls 77% to Rs 47 cr

Cement maker Dalmia Bharat Ltd on Wednesday reported a 76.84 per cent decline in consolidated net profit at Rs 47 crore for the quarter ended September. The company had posted a net profit of Rs 203 crore during the July-September quarter a year ago, Dalmia Bharat said in a regulatory filing. Its revenue from operations increased 15.11 per cent to Rs 2,971 crore in the second quarter of the current fiscal. In the year-ago period, the same stood at Rs 2,581 crore. Dalmia Bharat's total expenses rose nearly 29 per cent to Rs 2,980 crore in the latest quarter under review. Sales volume increased 13.72 per cent in the September quarter to 5.8 Million Tonnes (MT) compared to the year-ago period. Dalmia Cement (Bharat) Managing Director and CEO Mahendra Singhi said that despite a seasonally weak quarter, "we are encouraged with recent momentum in prices and volumes." "Our past investments in strengthening our operational efficiencies and cost rationalisations have enabled us to maintai

Adani Transmission net profit falls 32% to Rs 194 cr in Sept quarter

Adani Transmission on Wednesday reported a 32 per cent dip in its consolidated net profit at Rs 194 crore in September quarter compared to year ago, mainly due to adverse forex movement adjustment. The company explained in a statement that in the second quarter of FY23, consolidated PAT (profit after tax) or net profit of Rs 194 crore was lower year on year. The Q2 number is not comparable on account of adverse forex movement (MTM) of Rs 138 crore (mark-to-market adjustment on foreign currency loans) vs Rs 6 crore gain in the corresponding quarter of the previous fiscal in the AEML (Adani Electricity Mumbai Ltd) business, the company stated. The consolidated net profit of the company was Rs 289 crore in the quarter ended on September 30, 2021. However, the total income increased to Rs 3,376.57 crore in the reporting quarter from Rs 2,675.20 crore in the same period a year ago. The company sold 2,233 million units of electricity in the quarter, up from 1,975 million units in the sa

Karnataka Bank posts all-time high Q2 net profit of Rs 411 cr, NII up 26%

Mangaluru-headquartered Karnataka Bank has posted an all-time high quarterly net profit of Rs 411.47 crore for the quarter ended Sept-2022. This shows growth in net profit by 228 percent, compared to the Sept 2021 quarter net profit of Rs 125.45 crore. The director board of the bank, at its meeting held here on Tuesday, approved the financial results for the quarter and the half year that ended September 30, 2022. During the half year period, the net profit stood at Rs 525.52 crore, which is also an all-time high against Rs 231.36 crore of September 2021, a bank release said here Wednesday. For the quarter ending September 2022, the net interest income also increased by 26 percent to Rs 802.73 crore from Rs 637.10 crore. The NPAs have also further moderated as the GNPAs reduced to 3.36 percent against 4.03 percent as of June 30, 2022 , while NNPAs also reduced to 1.72 percent against 2.16 percent as of June 30. The business turnover of the bank has touched a new high of Rs 1,41,50

Sensex snaps 4-day winning run, slips 215 pts ahead of US Fed rate decision

Market Wrap: Bharti Airtel, Maruti, HCL Technologies and Hindustan Unilever were the prominent losers, while ITC and Sun Pharma finished with steady gains.

Mahindra Holidays Q2 profit down 31% on higher expenses, fall in revenue

Total expenses rose to 5.75 billion rupees from Rs 5.15 billion

Cochin Shipyard, Mazagon Dock soar up to 8% on hopes of strong Q2 results

Thus far in FY23, MDL (up 277%), GRSE (201%) and Cochin Shipyard (185%) have seen their market price appreciated more than 100%, as against nearly 4% rise in Sensex.

Karnataka Bank zooms 20%, hits over 3-year high on strong Q2 results

The bank said the significant jump in net profit is mainly because of improved earnings, improved asset quality, healthy growth of advances, cost containment, and efficiency enhancement, among others

Max Healthcare rallies 5%; hits record high on healthy Q2 results

The growth in Q2FY23 revenue and operating EBITDA were driven by higher occupancies, improved payor mix, and increased ARR in OPD.

LIC Housing Finance plunges 13% on disappointing September quarter results

LIC Housing Finance's net interest income (NII) declined by 0.8 per cent to Rs 1,163 crore in the reporting quarter from Rs 1,173 crore a year ago.

Borrowing costs bite: Interest-rate surge hurts corporate profits

Interest expenses of listed firms (ex-BFSI) were up 18.5% YoY in Q2FY23

Sun Pharma Q2 PAT rises 10.5% YoY to Rs 2,262 crore on robust sales

Gross sales came in at Rs 10,809.2 crore, growing by 13.1% over Q2 last year

Macrotech posts Rs 933-cr loss in Q2 on provisions made for UK biz

Realty firm Macrotech Developers Ltd on Tuesday reported a consolidated net loss of Rs 933 crore for the quarter ended September due to provisions made for loan given to its British arm for development of projects. Macrotech Developers, which markets its properties under the Lodha brand, is one of the leading real estate developers in the country. Its net profit stood at Rs 223.36 crore in the year-ago period, according to a regulatory filing. The profit (excluding exceptional item and forex) stood at Rs 367 crore, up 28 per cent year-on-year. The company's total income also fell to Rs 1,761.23 crore in the second quarter of this fiscal year from Rs 2,137.76 crore in the corresponding period of the previous year. Macrotech suffered a loss because of an exceptional item of Rs 1,177 crore. The Group had given loans to Lodha Developers UK Ltd and its subsidiaries from time to time for UK projects and has accrued interest thereon, Macrotech Developers said. "The current economic ...

Online cosmetics retailer Nykaa's Q2 net more than doubles to Rs 5.2 cr

Revenue for the quarter was up 39% YoY to Rs 1,230.8 crore

JK Tyre reports net drop in Sept quarter profit by 23% to Rs 50 crore

JK Tyre & Industries on Tuesday said its consolidated net profit declined 23 per cent to Rs 50 crore for the second quarter ended September 30, 2022. The tyre maker had reported a net profit of Rs 65 crore in the July-September period of last fiscal. Total income, however, increased to Rs 3,764 crore in the September quarter as against Rs 2,998 crore in the year-ago period. JK Tyre & Industries Chairman and Managing Director Raghupati Singhania said the company's operating margins have somewhat improved due to better market conditions. "We continue to achieve robust growth in domestic volumes across products, i.e., commercial and passenger tyre segments. During the quarter, OEM offtake improved post-easing in semiconductor supplies, festive season and good traction in economic activities," he noted. He further said: "We believe domestic demand shall continue to grow on the strength of improved economic activities, sustained focus of government on infrastructural spends and ...

UPL Ltd Q2 net profit rises 25.19%; founder Rajju Shroff steps down as CMD

UPL on Tuesday said its consolidated net profit rose 25.19 per cent to Rs 969 crore in the second quarter of FY23 on strong sales, and also announced that founder Rajju Shroff has stepped down as CMD. The agro-chemical company had posted a consolidated net profit of Rs 774 crore during the second quarter previous year. "Due to ongoing war between Russia and Ukraine, and the sanctions in the region, the Group's business has been impacted to some extent," the company said in a regulatory filing. Shroff, 90, due to advancing age has expressed his desire to step down from his dual responsibility as Chairman and Managing Director (CMD) and now wishes to devote full time for social causes and focus on improving Indian agriculture and chemical industry, UPL said in the filing. Shroff will become 'Chairman Emeritus' of the Board, effective from December 1, 2022, it added. The company's board has designated Jai Shroff, non-executive director, as the Chairman of the Board with effect from ..

Adani Ports SEZ Sept quarter profit jumps 62% as cargo volumes surge

Adani Ports and Special Economic Zone, India's largest private operator of ports, reported a 69% surge in quarterly profit on Tuesday, driven by strong cargo volumes.

Cholamandalam Investment and Finance posts 7% dip in Q2 net profit

CIFC's total income increased by 22 per cent from Rs 2,481 crore during the second quarter of 2022-23 from Rs 3,038 crore during the same period last financial year