Page 13 - Q3 Results

Textiles major Welspun India Q3 net profit declines 66.55% to Rs 43.83 cr

Home textiles major Welspun India on Monday reported a 66.55 per cent decline in consolidated net profit at Rs 43.83 crore in the third quarter ended December 2022, impacted by lower sales. The company had posted a consolidated net profit of Rs 131.06 crore in the same quarter last fiscal, Welspun India said in a regulatory filing. Consolidated total income during the quarter under review stood at Rs 1,904.05 crore as against Rs 2,437.92 crore in the year-ago period, it added. "The global environment remained challenging during Q3 FY23 due to inflation and slowdown across our key markets," Welspun Group Chairman B K Goenka said. Despite the challenges, he said, "Our domestic consumer business continued to consolidate its leadership position with 'Welspun' brand footprint at over 10,600 outlets and clocking its highest ever quarterly revenues during the quarter, growing in excess of 39 per cent YoY." During the quarter, the home textiles segment clocked a revenue of Rs 1,757.50 cro

Manufacturing, services sector log 8.27% attrition in Q3: Report

The average attrition rate across manufacturing and services industries increased sequentially to 8.27 per cent in the October-December quarter, a report said on Monday. With a continuance of the 'Great Churn', attrition across industries witnessed a 0.46 percentage point increase from an average of 7.81 per cent in the second quarter to 8.27 per cent in the third quarter, according to TeamLease "Employment Outlook Report". The report is forward looking statistics for 'Intent to Hire' for January to March 2023, for both manufacturing (nine industries) and services sectors (14 industries), which is based on a survey of 874 small, medium and large companies. The report revealed that the Information Technology industry in the services sector had higher average attrition (27.19 per cent) compared to Healthcare and Pharmaceuticals industry in the manufacturing sector (15.67 per cent). It found that healthcare and pharmaceuticals industries saw double digit attrition rates (15.67 per ce

Nippon India AMC reports 18% YoY profit growth in Q3 to Rs 205 cr

Total income rises 5% to Rs 416 crore

Mindspace REIT net operating income rises 16.8 % YoY on strong leasing

The company also raised Rs 100 crore through the issuance of commercial papers

GAIL Q3 profit drops 90% on petrochemical, natural gas marketing woes

State gas utility GAIL (India) Ltd on Monday reported 90 per cent drop in December quarter net profit after it suffered losses in petrochemical and natural gas marketing business. Consolidated net profit of Rs 397.59 crore in October-December 2022 is compared with Rs 3,800.09 crore earning in the same period a year back, according to the company's stock exchange filing. The nation's largest gas trading and transportation company booked Rs 349 crore loss in petrochemical business after it had to cut run rate due to curtailment in supply of cheaper domestic gas. Natural gas marketing division too incurred a loss while the pre-tax profitability of the core transmission business halved. Revenue from operations rose to Rs 35,939.96 crore in October-December 2022 from Rs 26,175.60 crore a year ago.

Punjab National Bank reports Q3 net profit down 44% to Rs 629 crore

Punjab National Bank (PNB) on Monday reported a 44 per cent decline in standalone net profit at Rs 629 crore in the third quarter ended December. The state-owned bank had earned a net profit of Rs 1,127 crore in the year-ago period. However, total income during October-December 2022 increased to Rs 25,722 crore as against Rs 22,026 crore in the year-ago period, PNB said in a regulatory filing. On the asset quality front, the bank recorded an improvement with gross NPAs (Non-Performing Assets) declining to 9.76 per cent as compared to 12.88 per cent at the end of third quarter of previous fiscal. At the same time, the net NPAs eased to 3.30 per cent as against 4.90 per cent in the same period a year ago. However, provisions for bad loans increased to Rs 3,908 crore during the quarter as against Rs 3,654 crore a year ago. The capital adequacy ratio rose to 15.15 per cent in the December quarter as against 14.91 per cent.

Orient Green Power dec quarter net profit rises 55% to nearly Rs 10 crore

Orient Green Power Company Ltd (OGPL) on Monday posted a 55 per cent rise in its consolidated net profit at Rs 9.74 crore in the quarter ended December 2022. The company's consolidated net profit stood at Rs 6.28 crore in the year-ago period, according to a regulatory filing. However, total income was at Rs 57.33 crore during the October-December quarter, as against Rs 63.30 crore a year ago. Total expenses were Rs 65.78 crore during the quarter under review as compared to Rs 75.68 crore in the corresponding period of the previous year. "Our efforts to reduce the expenses and service the debt on time resulted in improved rating of our SPVs (special purpose vehicles) and reduction in finance costs," T Shivaraman, company's Managing Director and CEO, said in a statement. In addition, the Late Payment Surcharge (LPS) scheme introduced by the ministry of power helped in realising the long pending dues from state-owned discoms, he noted. With improving cash flows, "we are exploring th

Nippon Life India Asset Management Q3 PAT up 18% to Rs 205 crore

Nippon Life India Asset Management Ltd (NAM India) on Monday reported an 18 per cent increase in the profit after tax (PAT) to Rs 205 crore for three months ended December 2022. In comparison, the company had a PAT of Rs 174 crore in the year-ago period, NAM India said in a statement. Also, the company's total income increased to Rs 416 crore in the quarter under review from Rs 369 crore in the third quarter that ended December 2021. "While Q3 was a volatile quarter with a positive bias from a macro standpoint, we grew our assets in the desired segments and increased profitability, driven by emphasis on 'investors' interest', aided by superior fund performance, strong risk management and granular distribution base," Sundeep Sikka, CEO at NAM India, said. Nippon Life India Asset Management is an asset manager of Nippon India Mutual Fund (NIMF). As on December 2022, NAM India's assets under management were Rs 3.6 lakh crore, which include Nippon India Mutual Fund asset base of Rs 2.

L-T profit misses as infrastructure growth eases; net profit rose 24%

BENGALURU (Reuters) -India's Larsen & Toubro reported a smaller-than-expected rise in quarterly profit on Monday, as moderate growth in order inflows hurt the infrastructure company.

Exide Q3 net up 11.38% to Rs 199 cr on price hikes, growth across verticals

Revenue from operations rises 6.8% to Rs 3,539 crore on volume growth

Sensex ends choppy day 170 pts up, Nifty at 17,650; IT stocks lead gains

Closing Bell: Broader markets trailed gains in benchmark indices. The BSE Midcap and Smallcap indices closed up to 0.2 per cent lower

Bajaj Finance's long range strategy lifts stock 5% higher

The consumer financier reported its highest-ever quarterly profit at Rs 2,973 crore in Q3FY23, up 40% YoY, aided by a healthy rise in NII and drop in provisions and contingencies

Indian Bank nears 52-week high in a weak market; stock up 19% in 3 months

Indian Bank said it is in a better financial health, well capitalised and the asset quality is continuously improving.

CSB Bank Q3 net up 5% to Rs 156 cr on strong growth in deposits and loans

Total income rises to Rs 682 crore from Rs 580 a year ago. Asset quality improves

Sun Pharma nears 52-week high ahead of Q3 results; stock up 7% in a month

In the past one month, Sun Pharma outperformed market as shares surged 7 per cent, as compared to 2.5 per cent decline in the S&P BSE Sensex

Paint biz goes off-colour, likely to see a fresh coat of downside in demand

Q3 witnessed weak volumes; valuations do not factor in risks

DCB Bank Q3 net profit jumps 52% to Rs 114 cr on decline in bad loans

Private sector DCB Bank on Saturday reported a 52 per cent jump in its profit to Rs 114 crore for the December 2022 quarter, mainly due to a decline in bad loans. The bank's net profit stood at Rs 75 crore in the same quarter of the preceding financial year. The total income increased to Rs 541 crore in the latest December quarter from Rs 463 crore in the year-ago period, the bank said in a regulatory filing. At the same time, net interest income rose to Rs 446 crore against Rs 345 crore a year ago. On the asset quality front, the bank recorded an improvement, with gross NPAs (Non-Performing Assets) declining to 3.62 per cent compared to 4.78 per cent at the end of the third quarter of the previous fiscal. Net NPAs too eased to 1.37 per cent compared to 2.55 per cent in the year-ago period. The capital adequacy ratio stood at 16.26 per cent in the December quarter.

Reliance Power Q3 loss widens to Rs 291 cr, expenses rise to Rs 2,126 cr

Reliance Power on Saturday said its consolidated net loss widened to Rs 291.54 crore in the December 2022 quarter. The company's consolidated net loss was Rs 97.22 crore in the quarter ended December 2021, a BSE filing showed. The total expenses rose to Rs 2,126.33 crore in the quarter from Rs 1,900.05 crore in the year-ago period. Its total income stood at Rs 1,936.29 crore in the quarter against 1,858.93 crore a year ago. The company made a debt repayment of Rs 178 crore in the quarter, and its debt-equity ratio stood at 2.03:1. It reported a net worth of Rs 11,219 crore. It has an operating portfolio of 5,945 MW. The Board of Directors, at its meeting held on Saturday, has appointed Ashok Kumar Pal as the Chief Financial Officer (CFO) of the company from January 29, 2023. Pal is a qualified Chartered Accountant with extensive hands-on experience of over 22 years. He has an established record of success in finance, accounts, taxation and other compliances. He is associated wi

NTPC net profit up nearly 5% at Rs 4,854 crore in Q3 on higher revenue

State-owned power giant NTPC on Saturday reported a nearly 5 per cent rise in its consolidated net profit to Rs 4,854.36 crore for the December quarter, mainly due to higher revenue. The company's consolidated net profit was Rs 4,626.11 crore in the quarter ended December 31, 2021, as per a BSE filing. The total income rose to Rs 44,989.21 crore in the quarter from Rs 33,783.62 crore in the year-ago period. The Board of Directors also decided to pay an interim dividend at the rate of 42.50 per cent (Rs 4.25 per share) on the face value of paid-up equity shares of Rs 10 each for the financial year 2022-23. The average power tariff of the company during April-December 2022 stood at Rs 4.96 per unit compared to Rs 3.95 per unit a year ago. The plant load factor (PLF or capacity utilisation) of coal-based thermal power plants climbed to 68.85 per cent in the third quarter from 67.72 per cent. The imported coal supply rose to 1.57 MMT in the quarter from 0.52 MMT in the same period a

Street positive on SBI Cards despite Q3 miss, on strong growth expectations

Analysts believe the company will be able to shift a larger part of the receivable mix towards EMI payments, which should help stabilise NIM