Category: Earnings

Mahindra & Mahindra fourth-quarter profit jumps 70%

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Mahindra & Mahindra Ltd on Tuesday said fourth-quarter profit surged over 70%, slightly above estimates.

Standalone profit after tax, which does not include share of profit from its unit Mahindra Vehicle Manufacturers Ltd, stood at 10.59 billion rupees ($155.90 million) for the quarter ended March 31, compared with 6.22 billion rupees a year earlier.

Analysts on average expected a quarterly profit of 10.45 billion rupees, according to Thomson Reuters data.

Revenue from operations grew 10.5% to 133.08 billion rupees.

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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

BHEL rises nearly 8% in trade post Q4 results

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Bharat Heavy Electricals’s stock gained nearly 8% on Tuesday after the company announced its fourth quarter results.

The net profit stood at Rs 457.2 crore, lower than the CNBC-TV18 poll of Rs 600 crore, pulling the stock up to reach its day’s high.

The company’s profit was mostly driven by strong operational income.

The company, though missing the Street’s estimates,  posted a profit which was more than double of what it was last fiscal in the corresponding quarter.

The fourth-quarter revenue of the firm stood at Rs 10,144 crore as against the Rs 10,785 crore estimated by CNBC-TV18.

The EBIDTA was Rs 1231.5 crore as against the estimate of Rs 972 crore and the EBITDA margin stood at 12.1%.

The tax expenses for the fourth quarter surged to Rs 682 crore. The other expenses, however, fell further to Rs 1,906 crore, by 30%,  compared to the same period last year.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

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Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Bharat Heavy Electricals fourth-quarter profit more than doubles, but misses expectations

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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State-run power plant equipment maker Bharat Heavy Electricals Ltd’s fourth-quarter net profit more than doubled from a year earlier, but missed analysts’ expectations.

Net profit rose to 4.57 billion rupees ($67.35 million) in the quarter ended March 31, from 2.16 billion rupees a year earlier, the company said on Tuesday.

Analysts on average had expected a profit of 5.19 billion rupees, according to Thomson Reuters data.

The company incurred tax expenses of around 6.82 billion rupees for the quarter.

Total revenue from operations fell 1% to 101.44 billion rupees.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Confident of meeting revenue and order inflow guidance this fiscal, says L&T chief

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Larsen and Toubro (L&T) is confident that it will meet the revenue and order inflow guidance for the current financial year, said SN Subrahmanyan, managing director and CEO of the company, adding that they are looking at this fiscal with optimism.

Giving the reasons for optimism, Subrahmanyan said:

“The optimism is based on the following facts. One, the government spending, the public sector spending, the state government spending continues to see buoyancy. It’s not only the government spending but also multilateral funding agencies coming into play in some of the critical core infrastructure projects. Second, the fillip towards developmental projects and many of the states looking into the fact that this is an election year and there is a need to do certain things and show development. Third, some extent of the revival of capital aggregation in some of the core industries which leads to the fact that investments are being sorted out.”

The engineering and construction major’s consolidated net profit for the March quarter rose 4.7% from a year earlier at Rs 3,167 crore. The consolidated revenue stood at Rs 40,678 crore for the quarter under review, registering an increase of 11.1% on a year-on-year basis.

The company, as Subrahmanyan said,  may not look to raise any significant funds this year. He also added that he did not see more assets moving into Infrastructure Investment Trust in near term.

The chief expects a revival in some of the core cyclical industries and hopes for better demand outlook and higher capital spending in West Asia, Africa.

“It will take one and a half to two years before seeing meaningful expansion in private capex,” he said.

The firm isn’t expecting any major defence order this fiscal, he added.

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Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Aurobindo Pharma fourth-quarter profit misses estimates

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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India’s Aurobindo Pharma Ltd posted a 0.6% fall in fourth-quarter net profit on Monday that missed analysts’ estimates.

Net profit came in at 5.29 billion rupees ($78.49 million) in the quarter ended March 31, compared with 5.32 billion rupees a year earlier, the Hyderabad-headquartered drugmaker said.

Analysts on average had expected a profit of 5.98 billion rupees, according to Thomson Reuters data.

Net sales rose over 11% to 39.89 billion rupees.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Bank of India posts $589 million fourth-quarter loss, misses estimates

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Bank of India Ltd reported a net loss of 39.69 billion rupees ($588.87 million) for the fourth quarter, as the state-owned lender set aside more funds for bad loans.

That compared with a loss of 10.46 billion rupees in the year-ago period and expectations of a loss of 12.84 billion rupees, according to Thomson Reuters estimates by nine analysts.

Gross bad loans as a percentage of total loans stood at 16.58% at end-March, compared with 16.93% in the previous quarter and 13.22% a year ago.

Provisions for bad loans surged about 41% to 66.74 billion rupees.

Shares ended 4.5% higher in a Mumbai market that was up 0.7%.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow