Page 6 - Q2 Results

ArcelorMittal Sep-quarter net income falls over 78% to $993 million

Global steel giant ArcelorMittal on Thursday posted over a 78 per cent fall in its net income to USD 993 million for the September quarter, mainly due to low demand and higher energy costs. The company follows January-December fiscal year. "ArcelorMittal recorded a net income for 3Q 2022 of USD 993 million as compared to a net income for 2Q 2022 of USD 3,923 million, and a net income of USD 4,621 million for 3Q 2021. "Sales in July-September also fell 6 per cent to USD 19 billion, USD 20.2 billion in the year-ago period, impacted primarily due to lower steel shipments," the company said. Total steel shipments in the third quarter stood at 13.36 million tonnes (MT), lower from 14.6 MT a year ago, largely reflecting weaker demand in Europe. Its gross debt increased to USD 9 billion as of September 30, 2022. It was USD 8.2 billion as on September 30, 2021. ArcelorMittal Chief Executive Officer Aditya Mittal said the strong market conditions enjoyed for much of the past two years ...

Reliance Power Q2 net loss widens to Rs 340 crore on higher expenses

Reliance Power on Thursday reported widening of its consolidated net loss to Rs 340.26 crore in the September quarter, mainly due to higher expenses. The consolidated net loss of the company stood at Rs 133.10 crore in the quarter ended September 30, 2021, it said in a BSE filing. Total expenses of the company rose to Rs 2,216.07 crore in the quarter from Rs 1,979.17 crore in the same period a year ago. Its total income increased to Rs 1,945.14 crore from Rs 1,886.82 crore earlier. Reliance Power made a debt repayment of Rs 390 crore in the quarter. The company added that it is on track to repay Rs 1,500 crore debt in FY'23.

Eicher Motors Q2 results: Net profit rises 76% to Rs 657 cr, revenue up 56%

Eicher Motors recorded a 56 per cent increase in revenue from operations at Rs 3,519 crore

Zomato net loss narrows to Rs 251 crore in Q2, revenue jumps 62%

This is the first quarter where the food aggregator crossed the billion-dollar mark in annualized revenue, Zomato revealed

Oil India reports highest quarterly net of Rs 1,720 cr despite windfall tax

State-owned Oil India Ltd (OIL) on Thursday reported its highest quarterly net profit of Rs 1,720 crore for July-September despite a newly introduced windfall profit tax taking away some of the gains accruing from a surge in oil prices. Net profit of Rs 1,720.53 crore in the second quarter of current fiscal compared with Rs 504.46 crore net profit a year back, the company said in a statement. Turnover jumped to Rs 6,670.81 crore from Rs 3,678.76 crore in July-September 2021 on the back of higher oil and gas prices. The company, which is the nation's second largest state oil producer, earned an average of USD 100.59 for every barrel of oil it produced and sold in Q2 as compared to USD 71.35 per barrel earnings last year. Oil production was almost unchanged at 0.79 million tonnes while gas output inched up marginally to 0.823 billion cubic metres. The record profit was despite the government levying a new tax from July on domestically-produced crude oil to take away some of the gain

SAIL turns red with Rs 329 cr Q2 loss, expenses surge to Rs 27,200 cr

State-owned Steel Authority of India Limited (SAIL) on Thursday slipped into red posting a consolidated loss of Rs 329 crore during the quarter ended on September 30, 2022. It had clocked Rs 4,338.75 crore net profit during the July-September period of the preceding fiscal, SAIL said in a BSE filing. The company has also reported a fall in its total income at Rs 26,642.02 crore from Rs 27,007.02 crore in the same quarter a year ago. Its expenses increased to Rs 27,200.79 crore as against Rs 21,289 crore in the year-ago period. SAIL has also reported a fall in its crude steel output as well as sales. Its crude steel output fell to 4.30 million tonnes (MT) during the quarter under review from 4.47 MT in July-September period of FY22. Sales shrunk to 4.21 MT from 4.28 MT a year ago. A query seeking chairman's comments on the company's financial and operational performance during the September quarter remained unanswered. SAIL, under the Ministry of Steel, is the country's largest s

After strong Q2, uptick ahead for agrochemical major PI Industries stock

After a sharp rally, valuations reflect the strong Q2 show

AM/NS India EBITDA drops 62.98% to $204 million in September quarter

ArcelorMittal Nippon Steel India (AM/NS India), a joint venture between ArcelorMittal and Nippon Steel, reported a 62.98 per cent year-on-year drop (YoY) in EBITDA

Page Industries Q2 net marginally up to Rs 162 cr; revenue at Rs 1,255 cr

Apparel manufacturer Page Industries Ltd on Thursday reported a marginal increase in its net profit at Rs 162.12 crore in the second quarter ended September 2022. The company had posted a net profit of Rs 160.48 crore during the July-September period a year ago, Page Industries Ltd (PIL) said in a BSE filing. Its revenue from operations during the quarter under review was at Rs 1,255.01 crore, up 15.77 per cent. PIL's revenue from operations in the July-September quarter of FY22 stood at Rs 1,084.01 crore. Its total expenses in the September quarter were at Rs 1,045.14 crore, up 19.5 per cent. Managing Director V S Ganesh said: "We are pleased to report that historically, this has been the best Q2 for the company in terms of revenue." "We are well in line with our guidance of delivering robust growth on the back of strong levers such as increased shift in organised retail, increased branded innerwear demand and growing aspirations for global brands," he added. Meanwhile, in a se

Berger Paints Q2 profit rises marginally to Rs 219 cr, revenue up 20%

Berger Paints India on Thursday reported a consolidated net profit of Rs 219.51 crore for the second quarter of the 2022-23 fiscal, up marginally from Rs 219.21 crore in the year-ago period. Revenue from operations for the quarter under review was Rs 2,670.9 crore, a 20 per cent increase from Rs 2,225 crore in the corresponding period last year. Earnings before interest, taxes, depreciation and amortisation (excluding other Income) for the July-September period was at Rs 364 crore, representing an increase of 2.8 per cent from Rs 354 crore in the same quarter last year.

Indian Railway Finance Corporation Q2 profit surges 14% to Rs 1,714 crore

Indian Railway Finance Corporation (IRFC) on Thursday reported a 14 per cent increase in its profit at Rs 1,714 crore in the second quarter ended September 30, 2022. The company, which is the dedicated market borrowing arm of the Indian Railways, had earned a profit of Rs 1,501 crore in the same quarter of previous year. The revenue from operations for Q2 FY23 also grew by 23.88 per cent to Rs 5,810 crore as against Rs 4,690 crore reported in the same period of last year, IRFC said in a statement. Net worth stood at Rs 43,549 crore and Assets Under Management (AUM) at Rs 4,39,070 crore as on September 30, 2022, it said. The board of the company also approved an interim dividend of 8 per cent of face value of Rs 10 each, that is Rs 0.80 per share for 2022-23, it said. The cumulative funding to the Indian railway sector by IRFC has crossed Rs 5.05 lakh crore mark by the end of the Q2 FY23.

Adani Green Energy Q2 net up 49% to Rs 149 cr, income rises to Rs 1,686 cr

Adani Green Energy on Thursday posted a 49 per cent rise in its consolidated net profit at Rs 149 crore in September quarter of FY23 compared to a year ago, mainly due to higher revenues. The consolidated net profit of the company was Rs 100 crore in the quarter ended on September 30, 2021, a BSE filing showed. Total income of the company rose to Rs 1,686 crore in the reporting quarter from Rs 1,411 crore in the same period a year ago. "With our focus on delivering the cheapest green electron, we have continued to deploy the latest and most innovative technologies to maximise electricity generation at a lower cost," said Vneet S Jaain, MD & CEO, Adani Green Energy, in a statement. He further said, "The globally well-recognised ESG (Environmental, Social and Governance) ratings, that rank us ahead of some of the largest global utilities and RE (Renewable Energy) players, are yet another proof of our commitment to a sustainable future and the highest governance standards at ...

Road ahead for Tata Motors depends on the pace of volume recovery

Tata Motors reported a 30 per cent year-on-year (YoY) growth in revenues while operating profit saw a 35 per cent jump

Petronet LNG Q2 results: Net profit down 10%, but turnover highest

The company is currently expanding capacity by 9 million tonnes at its LNG terminals in Dahej, and Kochi

upGrad's revenue rises to Rs 692 cr in FY22, losses widen to Rs 627 cr

The total expenses of the edtech unicorn for the fiscal were reported as Rs 1,319 crore in FY22, a jump of 157 per cent from Rs 514 crore last year

IndiGrid Q2 profit nearly doubles to Rs 126 cr aided by higher revenues

India Grid Trust (IndiGrid) on Thursday said its consolidated net profit almost doubled to Rs 125.79 crore in the September quarter, aided by higher revenues. The consolidated net profit of the company stood at Rs 68.17 crore in the quarter ended September 30, 2021, as per a BSE filing. Total income of the company rose to Rs 595.91 crore in the quarter from Rs 559.97 crore in the same period a year ago. The board of directors of IndiGrid Investment Managers Ltd (IIML), acting in the capacity of investment manager to India Grid Trust, approved declaration of Q2FY23 distribution of Rs 3.30 per unit -- comprising Rs 3.1137 per unit in the form of interest and Rs 0.18630 per unit in the form of principal payment. The record date for this distribution will be November 16, 2022, and payment will be made on or before November 25, 2022, it said. The board also approved raising debt funding of up to Rs 1,550 crore through various sources, including term loans, non-convertible debentures an

Bata India Q2 profit rises 47% to Rs 55 cr, net sales up 35% to Rs 830 cr

Leading shoemaker Bata India on Thursday reported a 47.44 per cent rise in consolidated net profit at Rs 54.82 crore in the second quarter ended September 2022, helped by increased footfalls at stores. The company had posted a net profit of Rs 37.18 crore in the July-September quarter a year ago, Bata India Ltd said in a BSE filing. Its revenue from operations during the quarter under review was at Rs 829.75 crore, up over 35.11 per cent from Rs 614.12 crore of the corresponding quarter of FY22. Bata India's total expenses in the September quarter were at Rs 769.56 crore, up 33.73 per cent. "Despite tough operating environment and significant material inflation, the company managed to drive broad volume driven revenue growths across business channels of retail/franchise/distribution/e-comm," said Bata India in its earnings statement. In the September quarter, Bata's distribution channel continued to scale up to over 1,100 towns. Its digital business also achieved its "highest rev

Apollo Hospitals Q2 net falls 20% to Rs 213 cr, income rises to Rs 4,274 cr

Apollo Hospitals on Thursday said its consolidated net profit declined 20 per cent to Rs 213 crore in the second quarter ended September. The healthcare major had reported a net profit of Rs 267 crore in the July-September period of previous fiscal. Total income increased to Rs 4,274 crore in the second quarter of the current fiscal as against Rs 3,723 crore in the year-ago period, Apollo Hospitals said in a regulatory filing. Shares of the company ended 1.8 per cent down at Rs 4,282.25 apiece on the BSE.

Container Corporation of India Q2 net profit rises 20% to Rs 303.80 crore

Container Corporation of India Ltd on Thursday reported a 19.9 per cent rise in consolidated profit at Rs 303.80 crore for the quarter ended September 30, 2022. The company's consolidated profit stood at Rs 253.21 crore in the corresponding period of the previous fiscal, Container Corporation of India said in a filing to BSE. Its consolidated income during the July-September quarter increased to Rs 2,030.94 crore, from Rs 1,900.28 crore in the year-ago period.

Muthoot Finance Q2 profit down 10% to Rs 902 cr due to fall in income

Muthoot Finance on Thursday reported a decline of 10 per cent in its consolidated net profit at Rs 901.6 crore in the July-September quarter of FY23 as income fell. The country's largest gold financier in terms of loan portfolio had posted a net profit of Rs 1,002.90 crore in the same period of the previous fiscal year. Compared sequentially, however, the net profit rose by 9 per cent from Rs 825 crore in June 2022 quarter. Company's total income during July-September period of 2022-23 fell to Rs 2,841.9 crore as against Rs 3,064.8 crore in the same period of 2021-22, Muthoot Finance said in a regulatory filing. The interest income was down by 8.2 per cent at Rs 2,757.9 crore in Q2FY23 from Rs 3,003.3 crore in the year-ago period. With 4,641 branches across India, Muthoot Finance said that rural India accounts for about 65 per cent of total gold stock in the country. Muthoot Finance also offers services such as money transfer, collection services, business and personal loans. As