Page 22 - Q2 Results

Reliance Jio Q2 results: Net profit rises 28% to Rs 4,518 crore

The revenue from operations jumped 20.2 per cent to Rs 22,521 crore for the just ended quarter, from Rs 18,735 crore in the year-ago period

Ambuja Cements net profit falls 94% to Rs 51.3 crore in Sept quarter

Ambuja Cements, now part of the Adani Group, on Friday reported a fall of 94.24 per cent in its consolidated net profit at Rs 51.30 crore for the September quarter, mainly due to rising fuel prices and related inflationary impact. The company had clocked a net profit of Rs 890.67 crore in the year-ago quarter, Ambuja Cements said in a BSE filing. Its revenue from operations rose 7.46 per cent to Rs 7,143.17 crore as compared to Rs 6,647.13 crore in the corresponding quarter of the previous financial year. Total expenses were at Rs 7,179.90 crore, up 29.51 per cent from Rs 5,543.51 crore a year ago. The consolidated results of Ambuja Cements includes the financial performance of its step-down firm ACC Ltd, in which it owns around 51 per cent stake. On a standalone basis, Ambuja Cements reported a decline of 68.74 per cent in its net profit to Rs 137.89 crore as against Rs 441.23 crore in the year-ago quarter. Its standalone revenue from operations climbed 13.37 per cent to Rs 3,67

JSW Steel posts surprise quarterly loss of Rs 848 crore on price slump

JSW Steel on Friday reported a consolidated net loss of Rs 915 crore for the quarter ended September 30, 2022. The company had posted a consolidated net profit of Rs 7,179 crore for the year-ago period, JSW Steel said in a filing to BSE. However, income during the quarter increased to Rs 41,966 crore from Rs 33,449 crore.

Q2 results: Motilal Oswal Financial Services' PAT up 11% to Rs 509 crore

Motilal Oswal Financial Services Ltd on Friday reported an 11 per cent growth in Profit After Tax (PAT) at Rs 509 crore for three months ended September 2022 driven by robust growth across the segments. This was the highest quarterly profit posted by the company. In comparison, the company had a PAT of Rs 458 crore in the same quarter of the preceding fiscal, it said in a statement. The company's revenues grew by 13 per cent to Rs 1,098 crore in the quarter under review from Rs 971 crore in the July-September period of the financial year 2021-2022. "We have achieved one of the highest quarterly profit of Rs 509 crore, following robust and sustainable performance across the businesses. Our retail broking business which is our cash cow business continued to improve its market share and benefitting from market expansion and industry consolidation," the company's MD and CEO Motilal Oswal said. "Our asset management business has seen strong improvement in performance and is likely to g

HDFC Life reports 19% jump in Q2 earnings as policy sales pick up

Standalone profit-after-tax was 3.26 billion Indian rupees ($39.42 million) for the quarter ended Sept.30 compared with 2.74 billion rupees, the insurer said in a regulatory filing

Markets end marginally up on Friday; Sensex, Nifty down 1% in Samvat 2078

The BSE MidCap index fell about 4 per cent in Samvat 2078, while the BSE SmallCap index added 0.4 per cent

IDBI Bank net profit up 46% at Rs 828 cr in Q2 FY23, net NPAs down to 1.15%

IDBI Bank on Friday reported a 46 per cent rise in its net profit to Rs 828 crore for the second quarter ended September 30. The bank had posted a net profit of Rs 567.12 crore in the year-ago period. The total income in the September 2022-23 quarter rose to Rs 6,065.51 crore from Rs 5,129.92 crore a year ago, IDBI Bank said in a regulatory filing. The private sector lender, controlled by India's largest insurer LIC, improved its asset quality by bringing down its gross non-performing assets (NPAs) to 16.51 per cent of the gross advances as of September 30, 2022, against 21.85 per cent at the end of September 2021. Its net NPAs too came down to 1.15 per cent from 1.71 per cent. However, the provisioning towards bad loans and contingencies for the September quarter of FY23 was raised to Rs 770.72 crore from Rs 571.43 crore in Q2 FY22. It was lower than Rs 959.23 crore for June 2022-23 quarter. Shares of IDBI Bank closed 1.33 per cent lower at Rs 44.15 apiece on BSE.

Hindustan Zinc Q2 profit up 33% to Rs 2,680 cr, revenue up to Rs 8,127 cr

Vedanta Group firm Hindustan Zinc on Friday reported 32.8 per cent rise in consolidated net profit at Rs 2,680 crore for September quarter 2022-23. The company had posted a net profit of Rs 2,017 crore for the year-ago period, Hindustan Zinc said in a filing to BSE. "Net profit for the quarter was at Rs 2,680 crore...on account of higher zinc volumes and prices, gain from strategic hedging, and favourable exchange rates while being partially offset by the rising input commodity prices and lower lead and silver prices," the company said in a statement. Revenue from operations in July-September period increased to Rs 8,127 crore from Rs 5,958 crore in the year-ago quarter, the filing said. "Our world-class mining assets backed with our zeal for operational excellence has enabled us to deliver consistent results in the toughest of circumstances. We have further accelerated our digitalisation efforts to aid in our business efficiency and safety," Hindustan Zinc CEO Arun Misra said. T

Q2 impact: Upside of up to 14% on cards for ITC, Axis Bank, Dixon Tech

Among prominent stocks, ITC, Dixon Technologies, Axis Bank and Bajaj Finance seem poised to rally up to 14 per cent; whereas Asian Paints is seen testing the crucial 200-DMA level at Rs 3,131.

United Breweries Q2 net rises 67% to Rs 134.12 cr, revenue up 11.5%

Beer maker United Breweries Ltd has reported a 66.94 per cent growth in its consolidated net profit at Rs 134.12 crore in the second quarter ended September 30, mainly on the back of volume growth. The company, controlled by Dutch multinational brewing company Heineken NV, had posted a net profit of Rs 80.34 crore in the year-ago period, it said in a regulatory filing on Thursday. The revenue from operations of United Breweries Ltd (UBL) was up 11.49 per cent to Rs 3,673.51 crore during the quarter under review. It stood at Rs 3,294.73 crore in the corresponding period of the previous fiscal. The company's volumes in the second quarter of the current fiscal were up 23 per cent, compared to the corresponding quarter, 3 per cent higher than the pre-pandemic numbers of the July-September period of 2019, said UBL. However its "gross margin during the quarter was lower by 508 bps as compared to Q2 2021, due to continued inflationary pressures on costs, particularly on prices of barley a

ITC hits new high on solid Q2 performance; analysts see up to 16% upside

Analysts believe ITC would continue to grow in its core business of Cigarettes and FMCG with stable taxation & softening of raw material prices.

ICICI Bank Q2 net profit may rise 35% YoY on solid loan book, say analysts

ICICI Bank Q2 preview: Better credit growth, including for mortgages and unsecured loans, should drive up margins, leading to healthy core profitability, analysts said

Top headlines: CCI penalty on Google, funding winter for startups, and more

Business Standard brings you the top headlines at this hour

Stocks to Watch: Axis Bank, ITC, Asian Paints, Bajaj Finance, YES Bank, RIL

Stocks to Watch: The Competition Commission of India (CCI) has approved Carlyle Group and Advent International's acquisition of up to 10 per cent stake each in YES Bank

Coforge Q2 net profit rises 36.6% to Rs 220 crore, revenue up 19.9%

The board has recommended an interim dividend of Rs 13 per share, with the record date for payout on 4 November 2022.

Shriram Transport Finance Q2 net profit rises 38% to Rs 1,067 crore

The operating profit for the second quarter of the current financial year was up by 24 per cent to Rs 2,131 crore compared to Rs 1,717 crore during the same period in 2021-22

South Indian Bank posts net profit of Rs 223 crore in second quarter

Murali Ramakrishnan, MD and CEO of the Bank, while announcing the results, stated that the strategy of realigning the business by the bank had contributed to the above improved performance

Canara, UBI, Central Bank see 2-digit rise in net due to higher NII growth

NII of the lender grew 18.5 per cent year-on-year (YoY) to Rs 7,434 crore

ITC Q2 net profit rises 24% to Rs 4,619.77 crore; revenue up 24.4%

The company attributed the performance to strong and broad-based growth across markets and channels

RIL's telecom, retail biz to shine in Q2; O2C muted, say analysts

Volatile energy markets, windfall taxes to contribute to O2C weakness; company to report results on Friday