Page 5 - Q3 Results

China's Alibaba Group sells its entire remaining 3.4% stake in Paytm

At the end of December, Alibaba had 6.26 per cent stake in the firm and it had sold around 3 per cent of it in January

Mahindra & Mahindra Q3 PAT climbs 14% to 1,528 crore on robust sales

Mahindra & Mahindra (M&M) on Friday reported a 14 per cent rise in its profit after tax (PAT) to Rs 1,528 crore for the third quarter ended December 2022, driven by robust sales. The Mumbai-based automaker had reported a net profit of Rs 1,335 crore for the October-December period of the previous fiscal. Its revenue surged 41 per cent to Rs 21,654 crore for the third quarter compared to Rs 15,349 crore in the year-ago period. The company said it has sold a total of 1,76,094 vehicles during the period under review, up 45 per cent from 1,21,167 units a year ago. Tractor sales rose 14 per cent to 1,04,850 units in the third quarter against 91,769 units in the same quarter of the last fiscal. "We have had another robust quarter led by the robust performance of our Auto division. Our farm division also reported healthy growth with increased market share. Our capital allocation actions are continuing to show results and we remain committed to our journey of growth and returns," ...

Drug marker Lupin reports 72% decline in Q3 net profit to Rs 153 cr

Drug maker Lupin has reported 72 per cent decline in consolidated net profit at Rs 153 crore for the third quarter ended December 31, 2022. The company had reported a net profit of Rs 545 crore for October-December period last fiscal. Total revenue from operations however increased to Rs 4,322 crore as compared with Rs 4,161 crore in the year-ago period, the company said in a statement. "Sales in the US have improved on the back of new product launches and the brand acquisition we made during the quarter. Excluding the impact of genericization on our diabetes portfolio, the India business has performed in line with the market," Lupin's Managing Director Nilesh Gupta stated. With the recent sales force expansion and new product launches, the company expects to be back to above-market growth, he added. Shares of the company were trading 3.74 per cent down at Rs 745.10 apiece on the BSE.

Adani Total Gas Q3 results: Net profit rises 17%, revenue up 27%

The company reported total sales volume of 186 mmscmd (million metric standard cubic meter) for the quarter, which was lower by 3 per cent from 192 mmscmd recorded for the same period last year

Trent's outperformance likely to continue on strong topline momentum

Even as the top line performance exceeded estimates, the company's margin performance was disappointing

LIC Q3 results: Net profit surges multi-fold to Rs 6,334.19 crore

LIC earned a total premium of Rs 37,545 crore on an APE (annualised premium equivalent) basis for the nine months ended December 31

IRCTC Q3 results: Net profit rises 22% to Rs 255 crore, revenue up 276%

Its revenue from operations surged 69.95 per cent to Rs 918.06 crore in Q3 YoY

IREDA profit after tax rises 87% to over Rs 200.75 crore for Dec quarter

State-owned IREDA on Thursday posted a rise of 87 per cent in its profit after tax at Rs 200.75 crore in the December 2022 quarter, mainly on higher income. The company had clocked a PAT (profit after tax) of Rs 107.19 crore during October-December quarter of preceding 2021-22 fiscal, Indian Renewable Energy Development Agency (IREDA) said in a statement. Its total income rose by 17 per cent to Rs 868.98 crore from Rs 743.30 crore in the year ago quarter. IREDA's net Non-Performing Assets (NPAs) reduced to 2.03 per cent in the third quarter of FY23 from 6.26 per cent in the same quarter a year ago. The company disbursed loan worth Rs 6,341.81 crore as against Rs 1,484.84 crore a year ago, up by 327 per cent. Its overall loan book stood at Rs 37,887.69 crore as against Rs 26,937.45 crore a year ago, up by 41 per cent. Pradip Kumar Das, Chairman and Managing Director (CMD), IREDA, said, "We are happy to post historical financial results for the third quarter with more than three-fo

Shriram Life profit grows multi-fold to Rs 31 crore for Dec quarter

Shriram Life Insurance Company (SLIC) on Thursday posted a multi-fold jump in net profit at Rs 31 crore for the third quarter of FY'23. The company had earned a profit of Rs 1.8 crore in the same quarter a year ago, SLIC said in a statement. During the quarter, the company's gross premium rose 12 per cent to Rs 665 crore, while the number of individual policies written increased by 10 per cent. The company has received approval for facial authentication for eKYC from UIDAI for new policies, which will help onboard new customers with ease, it added. Policyholders of Shriram Life can complete their KYC via OTP, facial recognition, biometric and iris identification. Shriram Life is currently the ninth-largest insurer in the country in terms of number of regular premium policies sold.

Aurobindo Pharma's consolidated net profit down 18.7% at Rs 491 Cr in Q3

Aurobindo Pharma Limited on Thursday said its consolidated net profit for the quarter ended January 31 was down by 18.7 per cent to Rs 491.2 crore against Rs 604.3 crore in Q3FY22. A press release from the drug maker said revenue from operations during the quarter under discussion was up by 6.7 per cent to Rs 6,407.10 crore against Rs 6,002.2 in the same period last fiscal. Commenting on the company's performance, K Nithyananda Reddy, Vice-Chairman and Managing Director of the company said "We witnessed an improved momentum backed by recovery across our business verticals and our endeavor is to continuously innovate and differentiate." In line with the companys commitment to innovate, there is an increase in the investments in Biosimilars. The company aims to sustain the momentum with new launches, improved cost efficiencies and adherence to the highest standards of compliance, supported by strong execution, he further said. During the quarter, formulation revenue increase by 9.2

Voltas posts net loss of Rs 110.49 cr in Q3 on overseas provisions

Air conditioning and engineering services provider Voltas Ltd on Thursday reported a consolidated net loss of Rs 110.49 crore for the third quarter ended December 2022 on account of provisioning made on overseas projects. The Tata group firm had posted a consolidated net profit of Rs 96.56 crore in the October-December quarter last fiscal, Voltas said in a regulatory filing. Its revenue from operations was up 11.82 per cent to Rs 2,005.61 crore during the quarter under review as against Rs 1,793.59 crore in the year-ago period. Voltas had a profit before exceptional items and tax of Rs 56.93 crore in the third quarter of FY23. Its expenses on exceptional items were at Rs 137.39 crore. "The profit was impacted due to provision of Rs 137 crore (exceptional item) made on overseas projects," Voltas said in its earning statement. Its total expenses stood at Rs 1,946.72 crore, up 17.89 per cent from Rs 1,651.27 crore a year ago. Voltas' revenue from "unitary cooling products for comfor

Hindalco Q3 results: Net profit falls 63% on input cost pressure

Novelis' total shipments of flat-rolled products were at 908 Kt (kilo tonnes) in the October-December period, declining 2 per cent from 930 Kt in the corresponding period a year ago

Zomato an accidental company, says CEO and founder Deepinder Goyal

For the Q3FY23 the company's losses widened over five times at Rs 346.6 crore. Loss for the same quarter last fiscal was at Rs 63.2 crore

Zomato loss widens to Rs 347 crore on biz slowdown, Blinkit buy

Revenue for the food delivery company, however, surged 75 per cent to Rs 1,948.2 crore, compared with Rs 1,112 crore in the year-ago period

Shriram Life Insurance Company net profit up to Rs 31 crore in Q3

New business individual premium, a key barometer for performance, rose by 19 per cent year-on-year to Rs 167 crore, during the October-December 2022 period

LIC's net income jumps manifold to Rs 8,334.2 crore in December quarter

Public sector insurer LIC on Thursday reported manifold jump in net income at Rs 8,334.2 crore during the three months ended December 2022 as against Rs 235 crore a year ago. The Life Insurance Corporation (LIC) earned Rs 1,11,787.6 crore in net premium income during the reporting quarter as against Rs 97,620.34 crore in the year-ago period, it said in a regulatory filing. The numbers are strictly not comparable as the insurer was not a publicly traded company earlier. LIC's income from investments rose to Rs 84,889 crore from Rs 76,574.24 crore a year ago, the filing said. Its investments into the crisis-ridden Adani Group has been under tremendous criticism even though the value of the investment of close to Rs 36,000 crore are still in the green despite those shares losing almost 60 per cent of their value since January 25.

Suzlon Energy Q3 PAT more than doubles to Rs 78 cr on reduced expenses

Suzlon Energy Limited on Thursday said its consolidated net profit more than doubled to Rs 78.28 crore during the December 2022 quarter, mainly due to reduced expenses. The company had clocked a net profit of Rs 36.77 crore during the October-December quarter of preceding fiscal, Suzlon Energy said in a regulatory filing. Its total income however fell to Rs 1,464 crore from Rs 1,615 crore a year ago. The expenses stood at Rs 1,386 crore in the quarter under review as against Rs 1,573 crore in the year ago quarter. In a separate statement, Girish Tanti, Vice Chairman, Suzlon Group, said: "The beginning of 2023 has been highly encouraging for the wind energy sector with a slew of crucial policy announcements. Indian wind energy is equipped and on track to contribute substantially towards India's energy transition roadmap." Ashwani Kumar, Chief Executive Officer, Suzlon Group, said: "Q3 has been a stable quarter for us. Our service business continues to do well, and our focus remains

IOB Q3 net profit up 23%, helped by interest income and credit growth

Slippages at Rs 1,556 crore, out of which Rs 200 crore was in education sector

HPCL net profit plunges 80% to Rs 172 crore in Q3 as oil prices fall

After two consecutive quarters of losses, Hindustan Petroleum Corporation Ltd (HPCL) on Thursday reported a net profit of Rs 172.43 crore in October-December 2022 as a fall in oil prices helped it recoup some of the losses on sale of petrol and diesel. Standalone net profit of Rs 172.43 crore in the third quarter of the current fiscal compared with Rs 868.86 crore profit in the same period a year back, according to a stock exchange filing by the company. HPCL and other state-owned fuel retailers did not revise petrol and diesel prices when international oil prices touched multi-year high last year. That led to them booking losses in two back-to-back quarters. However, rates softened in the third quarter. This should have warranted a reduction in petrol and diesel prices but the oil companies held on to retail prices to recoup the losses they had booked in the previous six months. Revenue from operations rose to Rs 1.15 lakh crore from Rs 1.03 lakh crore in October-December 2021. T

GIC Re returns to black with Rs 1,201 cr net income in Dec quarter

General Insurance Corporation of India (GIC Re) on Thursday reported a net profit of Rs 1,201 crore for the third quarter ended December 2022. There was a loss of Rs 28.48 crore in the year-ago period. Sequentially, it posted a net profit of Rs 1,859.93 crore in the second quarter ended September 2022. Gross premium during the October-December quarter declined to Rs 10,099.40 crore from Rs 10,240 crore in the same period of the previous fiscal, GIC Re said in a regulatory filing. Its net premium income inched up to Rs 9,561.2 crore from Rs 9,332.56 crore but earned premium declined to Rs 8,648.76 crore from Rs 8,907 crore. The bottom line was saved by a fall in incurred claims during the quarter, which declined by more than a quarter to Rs 8,380.50 crore from Rs 10,857.83 crore, according to the company. Its underwriting loss came down massively to Rs 1,537.24 crore from Rs 2,371.2 crore, boosting the net income, which was also buoyed by a healthy jump in investment income at Rs