Page 16 - Q2 Results

Flipkart India FY22 revenue at Rs 51,176 cr, loss widens 39% to Rs 3,404 cr

The B2B arm of Walmart-owned e-commerce firm Flipkart reported expenses of Rs 54,580 crore, up about 19% over the previous year

LIC Hsg Finance's Q2 net up 23% to Rs 305 cr on dip in provisions

Net interest income and margin both decline; disbursements up 4% to Rs 16,786 crore

Hero MotoCorp reports dip in wholesale by 17% at 454,582 units in Oct

The country's largest two-wheeler maker Hero MotoCorp on Tuesday reported a 17 per cent dip in its total sales at 4,54,582 units last month as compared with 5,47,970 units in October 2021. In the domestic market the company's dispatches to dealers stood at 4,42,825 units, down 16 per cent from 5,27,779 units in the year-ago period. "With festivals of Dussehra and Diwali -- which triggers record retail buying -- occurring in the month of October this year, the dispatch sales of October are not comparable to the previous years, when the festival days are usually spread across the months of October and November," the two-wheeler major noted. Exports stood at 11,757 units as against 20,191 units in October 2021.

Flipkart FY22 net loss widens to Rs 3,413 cr despite increase in revenues

E-commerce major Flipkart India's consolidated net loss widened to Rs 3,413 crore in the financial year 2021-22 despite increase in revenues, according to financial data accessed by business intelligence platform Tofler. The Walmart group-owned firm had reported a net loss of Rs 2,445.6 crore in the previous financial year 2020-21. On a standalone basis, Flipkart's net loss widened to Rs 3,404.3 crore during 2021-22 from Rs 2,444.8 crore in 2020-21. Net total income both on standalone and consolidated basis increased by about 18 per cent to Rs 51,175.7 crore from Rs 43,349.1 crore in FY21. The company's total expenses for the fiscal were reported at Rs 54,580 crore, Tofler said. The company acquired stake in 63Ideas Infolabs, which operates the Ninjacart brand, and 50 per cent stake in Childrenite Private during the year. An email query sent to Flipkart elicited no immediate reply.

Varun Beverages' profit up 53% to Rs 395.48 crore in Sept quarter

Varun Beverages Ltd, PepsiCo's largest franchise bottler, on Tuesday reported a 53.34 per cent jump in consolidated profit after tax at Rs 395.48 crore for the September quarter, helped by revenue growth and transition to lower tax rate in India. The company, which follows January-December financial year, had posted a profit after tax of Rs 257.90 crore in the July-September quarter of 2021. Varun Beverages Ltd's (VBL) revenue from operations in the latest September quarter stood at Rs 3,248.30 crore, up 33.10 per cent as compared to Rs 2,440.43 crore in the year-ago period. Its revenue from operations was up "on account of robust volume growth over last year and higher realisation on a consolidated basis," VBL said in its earning statement. "Sales volumes in India grew by 22.1 per cent in Q3 CY2022 to 148 million cases and in international markets grew by 31.3 per cent to 42 million cases. Total volume for the quarter was 190 million cases," it added. The company said profit afte

Rising offshore revenue to be growth huge lever for years: Coforge CEO

The IT solutions provider has posted a consolidated net profit of Rs 220.6 crore for Q2FY23, up 36.6% YoY. Its revenue growth was driven by offshoring expansion

Max Healthcare net profit rises three-fold to Rs 457 crore in Sept quarter

Max Healthcare on Tuesday reported an over three-fold rise in its consolidated net profit for the second quarter to Rs 457.35 crore, as against Rs 144.65 crore in the year-ago period. The healthcare provider's revenue from operations stood at Rs 1,137.12 crore during the July-September period, up from Rs 1,019.26 crore, a regulatory filing showed. Its total expenses also increased to Rs 897.72 crore during the quarter under review, as against Rs 860.09 crore in the year-ago period. Abhay Soi, Chairman and MD, Max Healthcare Institute Ltd, said: "The performance for Q2 FY23 is as per our expectations and reflects the focus on execution across the organisation in line with our articulated strategy. Healthcare sector in general and Max Healthcare in particular are making significant investments over the next 4-5 years leading to huge employment opportunities and a multiplier effect on GDP." He added that the impetus provided by the government through its focus on healthcare and 'heal

UPL Ltd Q2 net profit up 25.19% on robust sales despite Ukraine impact

Agro-chemicals maker UPL Ltd on Tuesday posted a 25.19 per cent jump in its consolidated net profit at Rs 969 in the second quarter of FY23 on strong sales, despite some impact faced due to the Russia-Ukraine crisis. The 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. The Group is having approximately Rs 86 crore of inventory and Rs 54 crore of receivables as on September 30 in this war affected region, it said, adding that the company is continuously monitoring the situation. "The Group continues to do business in these two countries and taking necessary steps to protect itself from various risk involved. Management is confident of realisation of these assets," UPL added. According to the filing, the company's net income rose 18.35 per cent to Rs 12,50

Whirlpool India Q2 profit down 88% to Rs 49 cr; revenue flat at Rs 1,611 cr

Consumer durables firm Whirlpool of India Ltd on Tuesday reported a decline of 88.13 per cent in its consolidated net profit at Rs 49.02 crore for the second quarter ended September 2022 on account of commodity headwinds and a one-time gain last fiscal. The company had posted a net profit of Rs 413.19 crore during the July-September period of the previous fiscal, Whirlpool of India, a subsidiary of Whirlpool Corporation, said in a regulatory filing. Its revenue from operations was marginally up at Rs 1,611.54 crore. It was 1,607.10 crore in the September quarter of the last fiscal. Whirlpool of India's total expenses were at Rs 1,566.89 crore, up 3.33 per cent. Its profit after tax was down "mainly on account of rising commodity costs and inflation partially offset by cost-based price increases and cost productivity actions," Whirlpool of India said in an earnings statement. In the last fiscal, Whirlpool of India had acquired additional shareholding of 38.25 per cent in Elica PB I

Tech Mahindra Q2 consolidated PAT declines by 4% to Rs 1,285 crore

The company added over 5,000 people to its headcount during the latest September quarter, taking the overall employee base to 1.63 lakh

Tech Mahindra Q2 consolidated PAT decline by 4% to Rs 1,285 crore

The company added over 5,000 people to its headcount during the latest September quarter, taking the overall employee base to 1.63 lakh

Max Health gross revenue at lifetime high in Q2FY23 on improved occupancy

International patient revenues up 16% during quarter, 110% of pre-Covid average; PAT grows 29% on like-to-like basis

Tata Motors' total sales in Q2 up 15.5% to 78,335 units in October

Tata Motors on Tuesday reported a 15.49 per cent rise in total sales at 78,335 units in October 2022. The company had sold a total of 67,829 units in the same month last year, Tata Motors said in a statement. Total domestic sales were at 76,537 units as against 65,151 units in the year-ago month, a growth of 17 per cent, it added. Passenger vehicle (PV) sales, including electric vehicles, in the domestic market were at 45,423 units as compared to 34,155 units in the same month last year, up 33 per cent. Exports of PVs were down 10 per cent at 206 units from 230 units in October 2021. Electric vehicle sales, including international business, were at 4,277 units as against 1,660 units in the same month a year ago, the company said. Sales of commercial vehicles in the domestic market were only marginally higher at 31,320 units as compared to 31,226 units in the year-ago month, while exports were down 35 per cent at 1,592 units as against 2,448 per cent in October 2021.

Whirlpool's India unit reports 39% drop in Q2 profit as costs increase

Whirlpool's profit before exceptional items, its share of profit from joint ventures, and tax slid to 669.9 million Indian rupees

Nykaa posts surge of 4.5% in Q2 profit on strong festive season demand

Nykaa's gross merchandise value, or the monetary value of orders across its platforms, jumped 45% to 23.46 billion rupees

Sensex gains 375 pts, ends above 61K; Nifty atop 18,100; IT, metal lead

MARKET WRAP: Pharma, power and IT stocks were the major gainers in trade on Tuesday, while index heavyweight Reliance Industries and select banking shares ended on a tepid note.

Dhanuka Agritech Q2 net profit jumps 15%; board approves share buyback

Agro chemicals firm Dhanuka Agritech Ltd on Tuesday posted a 15.22 per cent jump in consolidated net profit at Rs 73.02 crore for the second quarter ended September, mainly on the back of higher income. The Gurugram-based company had reported a net profit of Rs 63.37 crore in the same quarter previous fiscal, according to a regulatory filing. The company also said its board has approved buying back 10 lakh shares at Rs 850 a share, or up to Rs 85 crore. The buyback would subject to all applicable statutory approvals. Net income increased 23 per cent on a consolidated basis to Rs 548.39 crore in the latest September quarter. In the year-ago period, the same stood at Rs 445.75 crore. Expenses remained higher at Rs 450.42 crore as against Rs 361.41 crore in the year-ago period. The board has fixed November 18 as the record date for the buyback offer. Shares of the company rose 1.51 per cent to Rs 737.70 in afternoon trade on BSE.

PNB Q2 net profit falls 63% to Rs 411 crore on higher provisions

State-owned Punjab National Bank (PNB) on Tuesday reported a 63 per cent decline in standalone net profit to Rs 411 crore for the September quarter on account of higher provisioning for bad loans. The bank had posted a net profit of Rs 1,105 crore in the year-ago period. Total income in the second quarter of the current fiscal increased to Rs 23,001.26 crore as against Rs 21,262.32 in the July-September period a year ago, PNB said in a regulatory filing. The lender's interest income also rose to Rs 20,154 crore from Rs 17,980 crore in the same quarter a year ago. The gross Non Performing Assets (NPAs) declined to 10.48 per cent of the gross advances from 13.36 per cent earlier. In absolute terms, the gross NPAs or bad loans stood at Rs 87,034.79 crore at the end of the second quarter of FY23, compared to Rs 1,00,290.85 crore a year earlier. The net NPA too declined to 3.80 per cent as against 5.49 per cent. However, provisions for bad loans increased to Rs 3,555.98 crore in the

Nykaa climbs 6% after net profit jumps 363% YoY to Rs 5 crore in Q2FY23

The Indian cosmetic-to-fashion retailer's total income, meanwhile, climbed 38 per cent YoY to Rs 1,237.3 crore in Q2FY23 from Rs 890.4 crore in Q2FY22

Larsen & Toubro nears record high after strong Q2FY23, healthy order book

Analysts believe that L&T is well-placed to benefit from overall diversified tender prospects with better order conversion in the domestic market