Page 21 - Q2 Results

IDBI Bank net profit jumps 46% to Rs 828.09 crore in Sept quarter

Profits would have been higher if not for aggressive provisioning: IDBI Bank CEO

Crisil Sept-quarter net profit jumps 31% to Rs 148 cr, income up 23.9%

The largest domestic rating agency Crisil on Friday reported a 31 per cent annualised growth in net income at Rs 147.9 crore for the quarter ended September. The S&P-owned rating agency said its revenue from operations rose 19.6 per cent to Rs 683 crore in the reporting third quarter (the firm follows the calendar year as its financial year). Consolidated income rose 23.9 per cent to Rs 748.2 crore. The spike in gross income and net income was boosted by the sharp jump in the dollar and pound against the rupee. This includes Rs 19.5 crore from revaluation of subsidiary loan in Q3 from Rs 35.4 crore so far in 2022, its Managing Director Amish Mehta said. Despite the many headwinds, the company delivered growth across its businesses led by a momentum in bank loan ratings in the country, even though corporate bond issuances were muted. There was traction in its global businesses also, he added. Increased working capital requirements and stronger bank balance sheets are leading to a .

ITC stock slips despite good performance in September quarter

All analysts are bullish on the firm with target prices ranging from Rs 375 to Rs 490

Route Mobile Q2 net profit rises 74.5% to Rs 73.6 cr, revenue jumps 94%

Enterprise messaging firm Route Mobile on Friday posted a 74.5 per cent rise in consolidated profit after tax at Rs 73.6 crore for the second quarter ended September 30, 2022. The company had posted a profit after tax (PAT) of Rs 42.17 crore in the same period a year ago. The revenue from operations jumped by 94 per cent to Rs 845.84 crore from Rs 435.67 crore in the September 2021 quarter. "I'm happy to announce that we have achieved yet another best quarterly revenue and operating profit to date. With this we mark six consecutive quarters of sequential revenue and adjusted PAT growth, demonstrating the stability of our business model. "This is despite the geopolitical tensions, massive volatility across various currencies, and various other uncertainties that we are all grappling with," Route Mobile Managing Director and Group Chief Executive Officer, Rajdipkumar Gupta said in a statement.

Torrent Pharmaceuticals net profit falls 1% on US, German markets

Brazil revenues for the quarter came in at Rs 185 crore, up by 19 percent. US revenues for the quarter were Rs 292 crore, up by 3 percent. Germany revenue was down 12 percent to Rs 220 crore

Ambuja Cement net drops 94% to Rs 51.3 crore on rising energy prices

On a sequential basis too, the company's profit tanked 94 per cent from Rs 865 crore earned in the April-June period

Axis Bank Q2: Analysts see up to 28% upside on sustained earnings growth

Axis Bank shares hit a record high of Rs 905 on the BSE on Friday, surging 9.5 per cent in the intra-day trade, after the bank beat Street's September quarter earnings' expectations across parameters

Shriram City Q2 net profit up 23% at Rs 383 cr on increased loan demand

Shriram City Union Finance (Shriram City) on Friday reported a 23 per cent rise in its consolidated net profit at Rs 383 crore for the quarter ended September 2022 on the back of increased demand as economic activity improved. The company's net profit in the quarter ended September 2021 stood at Rs 301 crore. The income from operations rose by 26.2 per cent to Rs 2,155 crore in July-September period of 2022-23 as against Rs 1,708 crore in the same quarter of 2021-22, the company said in a release. Net interest income -- interest earned minus expended -- grew by nearly 30 per cent to Rs 1,327 crore against Rs 1,022 crore. The non-banking finance company mainly caters to small enterprises. It is among the largest two-wheeler financiers in the country. On a consolidated basis, disbursements rose to the highest ever Rs 9,069 crore, up 28.5 per cent year-on-year, backed by the improving economic activity and strong revival in small enterprise finance, robust demand for gold loans, ...

Birlasoft Q2 net profit up 11.6% to Rs 115 crore, revenue jumps 17%

IT company Birlasoft on Friday posted an 11.6 per cent increase in consolidated net profit to Rs 115 crore in the second quarter ended September 30, 2022. The company had registered a net profit of Rs 103 crore in the same period a year ago. The consolidated revenue from operations grew by 17.8 per cent to Rs 1,192 crore during the reported quarter from Rs 1,011.68 crore. "Our steady performance continued in the second quarter with revenue growth of 17.8 per cent year-on-year (YoY), led by our manufacturing and BFSI verticals. "New deal momentum continued to be healthy with a growth of 32.6 per cent YoY and 22.8 per cent sequentially. We witnessed broad-based YoY growth across client buckets as they continue to drive our performance," Birlasoft Managing Director and Chief Executive Officer Dharmender Kapoor said in a statement. He said there was a healthy deal momentum, with total contract value (TCV) of USD 166 million and revenue from the top-20 clients growing by 13.1 per ...

Windfall tax hits Reliance; Q2 net profit flat at Rs 13,656 crore

Reliance's revenue has jumped 34 per cent to Rs 2.33 trillion

Torrent Pharma Q2 net profit declines marginally to Rs 312 crore

Torrent Pharmaceuticals on Friday reported a marginal decline in its consolidated net profit at Rs 312 crore for the second quarter ended September 2022. The company had posted a consolidated net profit of Rs 316 crore in the year-ago period. Revenue from operations rose to Rs 2,291 crore in the July-September quarter as against Rs 2,137 crore in the year-ago period, Torrent Pharma said in a statement. The company said its domestic revenue stood at Rs 1,224 crore during the period under review. The drug firm also reported robust sales across various international markets like the US, and Brazil, it added. Shares of the company on Friday ended 0.99 per cent down at Rs 1,578 apiece on the BSE.

United Spirits Q2 net profit rises 91% to Rs 548 cr, sales at Rs 8,283 cr

Diageo-controlled liquor maker United Spirits Ltd on Friday reported a 91.23 per cent increase in its consolidated net profit to Rs 547.7 crore for the second quarter ended September, helped by an exceptional gain from slump sale of its business undertaking. The company had posted a net profit of Rs 286.4 crore in the July-September quarter a year ago, United Spirits Ltd (USL) said in a regulatory filing. However, its revenue from operations was almost flat to Rs 8,282.7 crore during the quarter under review as against Rs 8,208.8 crore in the corresponding period of the previous fiscal. In its earning statement, USL said: "Growth reflects resilient consumer demand in off-trade, rebounding in on-trade and continued mix improvement." USL's profit before exceptional items and tax in the September quarter was at Rs 357.5 crore as compared to Rs 389.7 crore last year. Exceptional items primarily comprise a one-time profit of Rs 381 crores arising from the slump sale of the business ...

DLF Q2 net profit up 26% to Rs 477 crore, total income fall to Rs 1,360 cr

Realty major DLF Ltd on Friday reported a 26 per cent increase in its consolidated net profit at Rs 477.20 crore for the quarter ended September. Its profit stood at Rs 378.12 crore in the year-ago period. Total income fell to Rs 1,360.50 crore in the second quarter of this fiscal from Rs 1,556.53 crore in the corresponding period of the previous year, DLF said in a regulatory filing. DLF is India's largest real estate company in terms of market capitalisation. It has developed more than 153 real estate projects covering 330 million square feet. The company has 215 million square feet of development potential across the residential and commercial segments. The DLF Group has an annuity portfolio of over 40 million square feet. DLF is primarily engaged in the business of development and sale of residential properties (development business), and the development and leasing of commercial and retail properties (annuity business).

Poonawalla Fincorp reports highest-ever profit at Rs 163 cr in Sep quarter

Poonawalla Fincorp Limited on Friday reported its highest-ever net profit of Rs 163 crore in the September 2022 quarter, a 71 per cent increase year-on-year. The non-deposit-taking non-banking finance company (NBFC) focusing on consumer and MSME finance had reported a net profit of Rs 95.51 crore in the year-ago period. The total income in the September 2022 quarter rose to Rs 654.89 crore against Rs 512.58 crore a year ago, Poonawalla Fincorp said in a regulatory filing. Also, it registered the highest ever RoA (return on assets) at 3.6 per cent, up by 102 bps year-on-year. The company's disbursements during the quarter rose 44 per cent to Rs 3,721 crore. Its asset under management surged 22 per cent to Rs 18,560 crore at the end of the September quarter. On asset quality, the gross non-performing assets (NPAs) fell to 1.52 per cent, down by 259 basis points (bps) year-on-year. The net NPAs stood at 0.83 per cent, 118 bps lower. These are the best asset quality numbers in the l

HUL Q2 net profit rises 22.2% to Rs 2,670 crore; revenue up 16.4%

FMCG major Hindustan Unilever Ltd on Friday reported a 22.19 per cent rise in its consolidated net profit to Rs 2,670 crore for the second quarter ended September 30, mainly helped by volume growth. The company had posted a net profit of Rs 2,185 crore in the July-September quarter of the previous fiscal. Its total income increased 16.44 per cent during the quarter under review to Rs 15,253 crore. It was Rs 13,099 crore in the year-ago period, Hindustan Unilever Ltd (HUL) said in a regulatory filing. The company delivered an "underlying volume growth of 4 per cent" during the July-September quarter. "Growth was significantly ahead of the market with more than 75 per cent of the business winning value and volume market share," said HUL in its earning statement. Its total expenses rose 18.12 per cent to Rs 11,965 crore compared to Rs 10,129 crore in the second quarter of the last fiscal. HUL CEO and Managing Director Sanjiv Mehta said: "Building on our strong momentum, we have deli

Hindustan Zinc Q2 net profit rises 33% to Rs 2,680 crore; revenue up 36%

Shares of Hindustan Zinc were up 0.88 per cent to Rs 280 apiece on the BSE at the close of trade on Friday

Poonawalla Fincorp Q2 results: Net profit rises 70.8% to Rs 163 cr

Net interest income for reporting quarter grew by 33 per cent at Rs 446 per cent

J&K Bank Q2 profit doubles to Rs 243 crore amid fall in bad loans

Jammu & Kashmir Bank on Friday reported over two-fold jump in net profit at Rs 243.49 crore for September quarter 2022-23 on a healthy growth in interest income and fall in bad loans. The bank had posted a net profit of Rs 111.09 crore for the year-ago period. Total income during the quarter rose to Rs 2,444.59 crore from Rs 2,184.20 crore a year ago, J&K Bank said in a regulatory filing. Interest income grew 15.5 per cent to Rs 2,298.85 crore during the quarter. Gross non-performing assets (NPAs) were reduced to 7.67 per cent of gross advances as of September 30, 2022 from 8.95 per cent by the end of September 2021. Net NPAs were also brought down to 2.10 per cent from 3.02 per cent. In value terms, gross NPAs stood at Rs 6,064.68 crore in the quarter as against Rs 6,524.87 crore. Net NPAs were Rs 1,566.77 crore, down from Rs 2,063.65 crore in the year-ago period. The fall in bad loans ratio helped cut the provisions towards NPAs and contingencies for Q2FY23 substantially to .

Axis Bank shares jump over 9% post earnings announcement; mcap climbs

Shares of Axis Bank rallied over 9 per cent on Friday after the firm reported a 66.29 per cent jump in consolidated net profit for the September quarter. The stock jumped 8.96 per cent to settle at Rs 900.25 apiece on the BSE. During the day, it advanced 9.53 to its 52-week high of Rs 905. On the NSE, it rallied 9.46 per cent to end at Rs 904 apiece. Its market capitalisation (mcap) also jumped Rs 22,757.86 crore to Rs 2,76,592.86 crore. The stock emerged as the biggest gainer on both Sensex and Nifty. In volume terms, 19.64 lakh shares of the firm were traded on the BSE and 5.80 crore shares on the NSE during the day. The 30-share BSE benchmark climbed 104.25 points or 0.18 per cent to settle at 59,307.15. On Thursday, Axis Bank reported a 66.29 per cent jump in consolidated net profit for September quarter at Rs 5,625.25 crore, driven by a substantial decrease in bad loan provisions and margin expansion. On a standalone basis, the third largest private sector lender reported

Laurus Labs Q2 profit up 14% at Rs 233 cr, revenue jumps to Rs 1,576 cr

Drug firm Laurus Labs on Friday said its consolidated net profit increased 14 per cent to Rs 233 crore in the second quarter ended September 30, 2022. The company had reported a net profit of Rs 204 crore in July-September period a year ago. Revenue from operations rose to Rs 1,576 crore in the quarter from Rs 1,203 crore in the year-ago period, Laurus Labs said in a statement. Laurus Labs Founder and CEO Satyanarayana Chava said the results reflect the company's efforts towards strengthening and diversifying its business. He noted that the company has developed a novel delivery for pediatric HIV treatment and expects to file an NDA (new drug application) shortly. "This should significantly enhance our market position. Our capital allocation priorities remain unchanged. We will continue to prioritise investments in our pipeline..," Chava stated. On business outlook, he said, "Looking forward to the second half of 2023, we expect to deliver a strong underlying revenue growth and s