Page 25 - Q3 Results

Dabur India falls 4% after Q3 update hints high inflation to dent margins

On account of challenging macro-economic environment and muted category growths in the quarter, the management anticipates to report low to mid-single digit revenue growth

D-Mart owner Avenue Supermarts' Q3 revenue rises 24.7% to Rs 11,305 cr

Avenue Supermarts Ltd, which owns and operates the retail chain D-Mart, has reported a 24.7 per cent rise in its standalone revenue from operations to Rs 11,304.58 crore for the third quarter ended on December 31, 2022. The company had revenue from operations of Rs 9,065.02 crore in the October-December quarter a year ago, Avenue Supermarts said in a regulatory filing on Tuesday. "Standalone Revenue from operations for the quarter ended December 31, 2022, stood at Rs 11,304.58 crore," it said while sharing an update at the end of the quarter. The total number of stores stood at 306 as of December 31, 2022. In the year-ago period, Avenue Supermarts' standalone revenue was at Rs 7,432.69 crore. Promoted by Radhakishan Damani and his family, DMart retails basic home and personal products across markets which include -- Maharashtra, Gujarat, Daman, Andhra Pradesh, Madhya Pradesh, Karnataka, Telangana, Chhattisgarh, NCR, Tamil Nadu, Punjab and Rajasthan.

TMS Ep338: Demonetisation verdict, free food grain, markets, living wage

What does the SC's demonetisation verdict mean? Will free food grain scheme affect Centre's fiscal planning? Will India Inc see a turnaround in Q3FY23 results? What is a living wage? All answers here

Will India Inc see a turnaround in Q3FY23 results?

Raw material prices are heading south, while a pick-up in credit cycle has also boosted overall sentiment. Will these positive factors provide succour to India Inc's fortunes in Q3 FY23 earnings?

India wearables mkt grows 56.4% YoY; 37.2 mn units shipped in Q3FY22: IDC

Smartwatches remained the fastest-growing category, recording 178 per cent YoY growth while earwear accounted for 67.3 per cent of the overall wearables category

FMCG makers expect margins improvement and comeback of rural sales from Q3

The FMCG industry expects an improvement in its margins and hopes to make a comeback from the rural market from the third quarter, though it witnessed pressure on volume in the September quarter as high inflation persists. Makers of fast moving consumer goods (FMCG) are now seeing green shoots of recovery with the onset of the festive season and a good monsoon and crop harvest in the rural areas. In the July-September quarter, listed FMCG companies, including HUL, ITC, Dabur, Nestle, Tata Consumer, Britannia and Marico, reported pressure on their margins on similar lines as the preceding quarter and said the demand environment remained challenging with inflation impacting consumption. However, as the commodity prices of palm, khopra etc have softened, FMCG companies expect a sequential improvement in their gross margins and mid-single-digit volume growth. In the September quarter, FMCG companies reported a price-led growth in their top line. While in some segments, FMCG makers such

Infy may overtake Cognizant on revenue front after a decade, say analysts

Slow growth rate and execution challenges impact Cognizant Q4 performance

Moderna misses Q3 expectations, net income dips 69%; defers vaccine sales

Sliding COVID-19 vaccine sales and rising expenses for Moderna combined to produce a third quarter that missed Wall Street expectations. The vaccine developer also said on Thursday that it was dialling back its revenue expectations from advance purchase agreements for this year, as some sales will be deferred to 2023. Moderna also said on Thursday that between USD 2 billion and USD 3 billion in vaccine sales will be deferred to next year, and the company now expects between USD 18 billion and USD 19 billion in revenue from advance purchase agreements this year. That's down from the approximately USD 21 billion it forecast in August. Company shares tumbled in early-morning trading. The vaccine developer said its Spikevax vaccine brought in USD 3.12 billion in sales during the quarter, a 35 per cent drop compared to last year. Moderna also scaled back expectations for COVID-19 vaccine deliveries in last year's third quarter due to supply issues. CEO Stephane Bancel said then that t

Cognizant closes Q3 with $4.9 billion revenue, 2.4 per cent growth

Nasdaq listed Cognizant Technology Solutions (Cognizant) closed the third quarter with a 2.4 per cent revenue growth.

Shell profit doubles to $9.5 billion, prompting windfall tax calls

The strong earnings were likely to intensify calls in Britain and the European Union to impose further windfall taxes on energy companies as governments struggle with soaring gas and power bills.

JSW Steel's 2 Indian subsidiaries expected to return to profit in Q3 FY23

Global macroeconomic challenges to shape turnaround of JSW Steel and Bhushan Power & Steel

LG Display's posts larger than expected loss in Q3 on falling demand

LG Display Co Ltd posted on Wednesday its second consecutive quarterly loss, as soaring inflation and a gloomy economic outlook dealt a further blow to lacklustre demand for TVs and smartphones

Google, Microsoft, TI announce disappointing results; tech stocks tumble

Google parent Alphabet Inc. fell as much as 7.4% after third-quarter revenue came in below expectations, while software giant Microsoft Corp. lost 8.1% following a disappointing revenue forecast

Coca-Cola beats profit estimates in Q3, raises full-year guidance

The company said it now sees organic revenue growth of 14% to 15% for the full year. In July, Coca-Cola increased its full-year outlook from 12% to 13%

General Motors posts higher profit, reaffirms outlook; margin slips

GM's net margin slipped to 7.9%, from 9.0% a year earlier

Philips to slash 4,000 jobs globally after weak quarterly earnings

The job cut represents over five per cent of the company's work force

Nestle India could sustain sales growth outperformance in coming quarters

Near-term margins, however, may remain under pressure

Porsche India reports 37% rise in sales to 193 units in third quarter

Luxury car maker Porsche India on Wednesday reported about 37 per cent rise in its sales to 193 units for the third quarter of 2022. The company had retailed a total of 141 cars in the third quarter of 2021, according to Porsche India. Retail sales of 193 units during the third quarter helped Porsche India reach 571 deliveries so far in 2022, surpassing the previous best full-year total of 534 units delivered in 2013, it said in a statement. On a consolidated basis, it has delivered 71 per cent growth in its car sales in the first nine months -- January-September -- of the current year, it added. Porsche India, which is a part of the Skoda Auto Volkswagen India Pvt Ltd (SAVWIPL), had retailed a total of 378 cars in the domestic market in the first half of this year. "By stimulating the market with Porsche Exclusive Manufaktur (programme) showcases through our dealerships, we have generated a buzz that will help carry the momentum into the fourth quarter and next year," said Manoli

Tesla doubles net income to $3.3 bn in Q3, automotive sales up 55%

Elon Musk-run Tesla has reported $3.3 billion in net income for the third quarter (Q3), more than double from a year ago, and its automotive revenue jumped 55 per cent from the same period last year

Q3 results: Johnson & Johnson beats estimates on demand for cancer drug

The company said it expects some impact of inflation to ease next year but higher costs of inventory manufactured in 2022 could weigh on 2023 profit