Category: Earnings

ITC net profit stands at Rs 2,933 crore, higher than previous Q4 numbers

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

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ITC, hotel, retail and cigarette major, posted a net profit at Rs 2,933 crore as against the Rs 2,669 crore posted in the same period in the last financial year.

The company’s cigarette EBIT stands at Rs 3,506 crore, around Rs 200 crore higher than the last financial year’s fourth quarter. The EBITDA margin stands at 39.1% and the EBITDA stands at Rs 4,144 crore, lower than the estimate of Rs 4,204 crore.

ITC’s hotel business EBIT stands at Rs 75.4 crore as against the last financial’s Q4 number which was pegged at Rs 66.9 crore. The FMCG sector of the conglomerate reported an EBIT of Rs 91.2 crore this year.

The board recommended a dividend of Rs 5.15 per share.

The company, in its exchange filing, said that the cigarette prices were consequent to the introduction of Goods and Services Tax and the excise duties which were not excluded in the total income from operations for the quarter.

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

Hindalco’s Q4 net profit at Rs 616 crore, misses estimates

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

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Aluminium producer Hindalco Industries Ltd posted a 25 percent fall in its fourth-quarter profit, widely missing street estimate.

The company’s profit dropped to 3.77 billion rupees ($55.59 million) in the three months through March 31, from 5.03 billion rupees a year earlier, the company said in statement.

Analysts on average expected the company to post a profit of 4.67 billion rupees, Thomson Reuters Eikon data showed.

Revenue from operations for the company, which also manufactures copper products and fertilisers, slipped about 0.6 percent to 116.81 billion rupees.

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

Snowman Logistics eyeing double-digit revenue growth this year

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

Listen to the Article (6 Minutes)

Snowman Logistics posted an operationally strong set of numbers this quarter. Their net profit however was impacted by a tax expense.

The year on year (YoY) revenue was up 16.2 percent at Rs 51.8 crore versus Rs 44.57 crore. EBITDA was also up at Rs 12.55 crore versus Rs 6.12 crore. Margins were up at 24.2 percent versus 13.7 percent YoY.

However, profit after tax was down to Rs 1.88 crore versus Rs 3.62 crore for the corresponding quarter of last fiscal impacted by tax expenses of Rs 1.27 crore versus tax credit of Rs 10.8 crore for the same quarter last fiscal.

Throwing more light on the outlook for the current financial year, AM Sundar, CFO, Snowman Logistics said the fourth quarter performance is sustainable going forward and they expect to be profitable in the current fiscal.

On a blended level, the company is looking at improving margins to around 25 percent and a double-digit revenue growth in financial year 2019, said Sundar.

He said the worst is over for the company, the year 2016-17 was a problematic year, while 2017-18 was a year of consolidation. However, as result of all the strategic changes, 2018-19 would be good and would reward the shareholders.

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