Category: Earnings

Transport Corporation of India Q4 Result: Dividend declared of ₹2 per share, PAT rises 25%

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

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Transport Corporation of India (TCI) on Wednesday, May 15, announced its financial result for the quarter ended March 2024. The logistics company’s profit after tax increased 25.4% year-on-year (YoY) to ₹103.3 crore.

The company’s standalone revenue from operations for the period under review stood at ₹953.9 crore, up 7.2% from ₹889.7 crore in the year-ago period. Other income, on the other hand, rose 36.4% to ₹16.5 crore.

In the third quarter, the revenue of the Gurugram-based company grew around 4% YoY to ₹1,002 crore, while its profit declined a little over 7% YoY to ₹80 crore. The earnings before interest, tax, depreciation, and amortisation (EBITDA) margin contracted to 10% from 12% in the same quarter last year.

Also Read: Berger Paints Q4 net profit jumps 20% to ₹223 crore; announces dividend of ₹3.50

The logistics and supply chain management company also announced a dividend of ₹2 per equity share. The board also approved the issuance of non-convertible debentures/bonds/other similar instruments up to ₹200 crore, TCI said in an exchange filing.  

The shares of the company ended 1.5% in the green on Wednesday, May 15, up for the fourth session in a row. The stock has gained 7.68% in 2024 so far.

Also Read: Dixon Tech declares dividend of ₹5/share, net profit and revenue miss estimates in Q4

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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

Dixon Tech declares dividend of ₹5/share, net profit and revenue miss estimates in Q4

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

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Leading contract manufacturer Dixon Technologies (India) Ltd on Wednesday (May 15) reported a 24.7% year-on-year (YoY) increase in net profit at ₹98.5 crore for the fourth quarter that ended March 31, 2024.

In the corresponding quarter in FY23, Dixon Technologies (India) posted a net profit of ₹79 crore, the company said in a regulatory filing. CNBC-TV18 poll had predicted a profit of ₹115 crore for the quarter under review.

The company’s revenue from operations increased 52% to ₹4,658 crore against ₹3,065 crore in the corresponding period of the preceding fiscal. CNBC-TV18 poll had predicted revenue of ₹5,392 crore for the quarter under review.

Also Read: Berger Paints announces dividend of ₹3.50, net profit up 20% to ₹223 crore in Q4

At the operating level, EBITDA rose 17.3% to ₹183 crore in the fourth quarter of this fiscal over ₹156 crore in the year-ago period. CNBC-TV18 poll had predicted an EBITDA of ₹217 crore for the quarter under review.

The EBITDA margin stood at 4% in the reporting quarter versus 5.1% in the fourth quarter of  the previous fiscal. EBITDA is earnings before interest, tax, depreciation, and amortisation. CNBC-TV18 poll had predicted a margin of 4% for the quarter under review.

The board has recommended a final dividend at the rate of ₹5 per equity share of face value of ₹2 each for the financial year 2023-24.

The dividend, if approved by the members of the company at the ensuing 31st annual general meeting, will be credited within 30 days of the AGM.

The results came after the close of the market hours. Shares of Dixon Technologies (India) Ltd ended at ₹8,052, up by ₹11.60, or 0.14%, on the BSE.

Also Read: Colgate Palmolive declares interim, special dividends as Q4 figures shine

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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

Berger Paints Q4 net profit jumps 20% to ₹223 crore; announces dividend of ₹3.50

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

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Berger Paints India Ltd on Wednesday (May 15) reported a 19.5% year-on-year (YoY) increase in consolidated net profit at ₹222.6 crore for the fourth quarter that ended March 31, 2024, boosted by all the business lines delivering strong double-digit volume growths. In the corresponding quarter, Berger Paints India posted a net profit of ₹185.7 crore, the company said in a regulatory filing.

Berger Paint’s consolidated revenue from operations rose 3.1% to ₹2,520.3 crore as against ₹2,443.6 crore in the corresponding period of the preceding fiscal.

At the operating level, consolidated EBITDA dipped 4.8% to ₹361.1 crore in the fourth quarter of this fiscal over ₹369 crore in the corresponding period in the previous fiscal.

Also Read: Oberoi Realty declares total dividend of ₹4 per share, Q4 net profit zooms 64%

Consolidated EBITDA margin stood at 14% in the reporting quarter as compared to 15.1% in the corresponding period in the previous fiscal. EBITDA is earnings before interest, tax, depreciation, and amortisation.

Berger Paints full year financial results (FY2024)

Revenue from operations for the year ended March 31, 2024, was ₹11,198.9 crore as against ₹10,567.8 crore in the corresponding financial year, representing an increase of 6% over the corresponding period of the last financial year.

The EBIDTA (excluding other income) for the year ended March 31, 2024, was ₹1,86 1.3 crore as against ₹1,487.2 crore in the corresponding financial year, representing an increase of 25.2% over the corresponding period of the last financial year.

Profit for the year ended March 31, 2024, was ₹1,169.8 crore as against ₹860.4 crore corresponding to the last financial year, representing an increase of 36.0% over the corresponding period of the last financial year.

Also Read: Patanjali Foods Q4 Results: Net profit slides 22%, revenue up 4%

The board of directors has recommended the payment of a dividend of ₹3.50 (350%) per equity share of the face value of ₹1 each fully paid up for the financial year 2023–24, subject to the approval of the shareholders at the 100th annual general meeting.

Abhijit Roy, Managing Director and CEO of Berger Paints said, “Our Q4FY24 sales were at a healthy double-digit volume growth. The value growth was adversely impacted by a massive 4%+ price reduction in the year, an increased contribution of high-volume low-value products and a lower than expected sale in the luxury segment from the anticipation of a price reduction in this segment.”

Shares of Berger Paints India Ltd settled at ₹486.35, down by ₹8.35, or 1.69% on the BSE.

Also Read: Apollo Tyres announces dividend of ₹6 per share, Q4 net profit skids

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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

Jyothi Labs Q4 Results: Profit and margin improve; ₹3.5 per share dividend declared

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

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FMCG firm Jyothy Labs reported a 32.5% jump in its consolidated net profit at ₹78 crore for the fourth quarter ending March 31, 2024, as against ₹59 crore in the year-ago period.

The company’s consolidated revenue from operations stood at ₹660 crore in the quarter under review, compared to ₹617 crore in the corresponding period last year.

During the reporting quarter, earnings before interest, tax, depreciation and amortization (EBIDTA) rose 18.5% to ₹108.9 crore, while margin came in at 16.5%.

Segment-wise, fabric care sales increased by 10% for the March quarter, compared to the same period last year and 12.6% for the full year.

Dishwashing sales increased by 6% for the quarter and 8.3% for the full year.

Personal care sales increased by 18% for the reporting quarter over same period last year and 21.1% for the full year.

Household insecticides sales are down by 9.8% for the March quarter and flat for the year. The decline is due to seasonality impacting the demand.

The Board has recommended a dividend of ₹3.5 per equity share of ₹1 each for the financial year 2024.

The dividend, if approved at the ensuing Annual General Meeting, will be paid on or after July 27, 2024, the company said in a regulatory filing.

“We have delivered a healthy performance for the quarter and for the year with expanding profitability. Our last 4 years have been a consistent double digit revenue growth with a focus on relentless execution and drive towards higher business scale,” said MR Jyothy, Chairperson and Managing Director at Jyothy Labs.

The scrip has an analyst target price of ₹487, Trendlyne data showed, suggesting a potential upside of 12.30% in a year. It has a one-year beta of 0.2, indicating very low volatility on the counter.

The stock has a relative strength index of 59.8, indicating it is neither trading in the oversold or overbought zone.

Following the earnings announcement, shares of Jyothy Labs fell 5.13% to trade at ₹436.45 apiece on the NSE.

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

V-Mart Retail targets 13-15% revenue growth in FY25

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

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With signs of revival in consumer spending in rural and semi-urban markets, V-Mart Retail, a hypermarket chain based in Gurugram, is targeting 13-15% revenue growth during April-March 2024-25.

Lalit Agarwal, the Founder and MD of V-Mart Retail, says the like-for-like growth will be around 6-7%.

“I definitely feel excited and a little more rejuvenated because we are seeing some comeback of the consumption over the last two months. March and April has been good, the quarter has been fairly good. So things are coming back to normalcy and we should regain the lost number, which we haven’t been able to do for the last one year or one and a half years,” he said.

While there are challenges in Uttar Pradesh, there are also growth opportunities in eastern India and Bihar.

The growth is subdued in the southern parts of the country as well but initiatives such as the introduction of low-priced product lines have yielded positive responses.

Read Here | Will still grow SSSG in high single digits in the medium-term, says V-Mart Retail

In January-March, V-Mart Retail‘s revenues grew 13% over last year to ₹668.6 crore. The same-store sales grew 6%. It opened nine new stores and closed 19 underperforming stores.

“If we are able to clock 5 to 6%, same-store sales growth in the coming year, we should have a healthy margin,” Agarwal noted.

The company plans to open 50 to 55 new stores this year.

V-Mart currently has a market capitalisation of ₹4,315.85 crore. Its shares have gained 2% over the 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

Shree Cement expects 8-10% volume growth in FY25

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

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Shree Cement expects volumes to grow at 8-10% in April-March 2024-25.

The Kolkata-based cement manufacturer beat Street estimates in the January-March quarter, recording volumes of 9.53 metric tonnes versus the expected 9.4 metric tonnes.

The earnings before interest, tax, depreciation, and amortisation (EBITDA) was also better due to only a lower than estimated contraction in realisations, and higher operating leverage with fuel costs dropping nearly 15% from last year.

Speaking to CNBC-TV18, HM Bangur, Chairman of Shree Cement said the demand may be deferred due to seasonal fluctuations, but it eventually picks up.

With India’s continuous development, the need for cement and infrastructure will remain high, providing a foundation for sustained demand growth, he noted.

Shree Cement reported revenue growth of ₹5,101 crore for January-March.

EBITDA margin was at 26%, better than Street estimates of 22.8%, EBITDA per tonne was ₹1,392 versus ₹1,388 in the third quarter. 

Bangur refrained from giving a guidance on the EBITDA per tonne given the significant influence of fluctuating commodity prices. However, he is confident that increasing efficiency levels and reducing energy consumption costs will improve performance.

He said cements price increases have historically been slightly below general inflation rates, typically 1 to 2% less.

However, he believes that the company will maintain profitability even with modest prices increases given that the technological advancements and innovations are helping tame costs.

Brokerage firm Nomura rated the stock a buy with a target price of ₹33,400 per share due to the strong results

It noted that Shree Cement’s EBITDA per tonne was higher than Ultratech’s for the third quarter in a row.

Investment bank Morgan Stanley is also overweight on Shree Cement and has a target price ₹30,000 per share.

Brokerage firm Jefferies has a ‘hold’ rating with a target of ₹29,500 per share.

Shree Cement currently has a market capitalisation of ₹93,449.14 crore. Its shares have gained 5% over the last year.

Also Read | 550% Dividend Alert: Shree Cement takes full year payout to ₹105 per share

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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

PFC Q4 Results: Loan growth in-line with management guidance, asset quality improves

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

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State-run Power Finance Corporation reported loan growth of 14% year-on-year and 5.3% sequentially for financial year 2024 to ₹4.81 lakh crore. That number is in-line with the management guidance of 12% to 15% guidance issued by the management earlier.

Net Interest Income (NII) for the quarter stood at ₹4,237 crore, which is flat compared to the December quarter and up 22% compared to the same period last year.

Revenue for the quarter went up by 20.2% from last year to ₹12,243.7 crore.

Net profit for the quarter was also aided by a 32.6% jump in other income to ₹755.4 crore. There was also a write-back of provisions worth ₹337 crore, compared to an outgo of ₹262.6 crore in the December quarter and a write-back of ₹494.2 crore in the year-ago quarter.

In an interaction with CNBC-TV18, Power Finance Corporation Chairman and Managing Director Parminder Chopra said that the draft RBI norms on project financing will not have an impact on the company’s profitability and that 25% of the company’s loans are for projects under implementation.

Out of these 25%, 45% of the projects are under generation with a longer tenor.

For financial year 2025, PFC expects Assets Under Management to grow between 12% to 15%, while spreads will remain in the 2.5% – 2.75% range. Net Interest Margin for the quarter is expected to be between 3% to 3.5%.

PFC’s asset quality improved on a sequential basis. Gross Non-Performing Assets (NPA) for the quarter stood at 3.34% compared to 3.52% in the December quarter.

Net NPA for the quarter also improved to 0.85% from 0.9% in the December period.

According to Chopra, liquidity has improved across the system and that PFC has not seen any major defaults across state discoms.

Additionally, the company has also declared a final dividend of ₹2.5 per share for financial year 2024. The company had already paid out dividends worth ₹11 per share so far this financial year.

Shares of PFC are trading 3.8% higher post the earnings announcement at ₹438. The stock is up 11% so far in 2024 but was the second-best performer on the Nifty PSE index in 2023, with gains of 240%.

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

Radico Khaitan net profit jumps 26%; liquor firm to pay 150% dividend

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

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Radico Khaitan Ltd. reported a 26.5% surge in its profit after tax (PAT) or net profit to ₹53.91 crore in the fourth quarter of the financial year 2023–24 on Tuesday, May 14, compared to ₹42.6 crore in the same quarter a year ago.

The company’s revenue for the quarter stood at ₹1,078.7 crore, up from ₹831.84 crore in the year-ago period.

EBITDA rose by 55.3% to ₹122.54 crore in Q4FY24 compared to ₹78.91 crore in Q4FY23, with a margin of 11.4% as against 9.5% in Q4FY23.

In terms of volume, total Indian-made foreign liquor (IMFL) stood at 7.16 million cases, a slight decrease of 1.2%.

However, Radico Khaitan’s Prestige & Above brand volume significantly increased by 14.2% to 2.92 million cases.

Radico Khaitan financial results

For the fiscal year ending March 31, 2024, the company’s net profit was ₹262.17 crore, up from ₹220.35 crore in the previous fiscal year, while consolidated revenue from operations was ₹15,483.88 crore, compared to ₹12,743.91 crore in FY23.

Total IMFL volume for the year was 28.73 million cases, up by 1.7%, with Prestige & Above brands volume reaching 11.26 million cases, reflecting a growth of 20.3%.

Chairman and Managing Director Lalit Khaitan expressed optimism about the future, citing rising affluence, low per-capita consumption levels, and a strong trend towards premiumisation in the Indian alcobev sector.

Radico Khaitan dividend news

The Board of Directors recommended a dividend of 150%, or ₹3 per equity share of ₹2 each, for the financial year ended March 31, 2024, subject to shareholder approval at the upcoming Annual General Meeting (AGM).

The dividend will be disbursed within 30 days from its declaration at the AGM, scheduled for Wednesday, August 7.

Radico Khaitan share price

Shares of Radico Khaitan settled half a percent lower at ₹1,608.25 on the BSE. So far this year, the 8 PM whiskey maker’s stock price has corrected nearly 5%, while the one-year return on the scrip is over 45%.

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

Edelweiss Financial Services net profit up 13% to ₹169 crore, declares dividend of ₹1.50

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

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Diversified financial group — Edelweiss Financial Services Ltd (EFSL) — on Tuesday (May 14) reported a 13.3% year-on-year (YoY) increase in net profit at ₹169.1 crore for the fourth quarter that ended March 31, 2024.

In the corresponding quarter, Edelweiss Financial Services posted a net profit of ₹149.3 crore, the company said in a regulatory filing. The company’s revenue from operations dropped 1.5% to ₹2,967.3 crore as against ₹3,012.4 crore in the corresponding period of the preceding fiscal.

At the operating level, EBITDA rose 13.2% to ₹387 crore in the fourth quarter of this fiscal over ₹317 crore in the corresponding period in the previous fiscal. EBITDA margin stood at 30.7% in the reporting quarter as compared to 26.7% in the corresponding period in the previous fiscal. EBITDA is earnings before interest, tax, depreciation, and amortisation.

Also Read: Colgate Palmolive declares interim, special dividends as Q4 figures shine

Alternative Asset Management business AUM grew by 18% year-on-year to ₹54,700 crore and profitability was up by 32% year-on-year to ₹210 crore in the year. The Mutual Fund business AUM increased by 21% year-on-year to ₹1,27,000 core and profitability grew by 112% year-on-year to ₹38 crore in the year.

Asset Reconstruction business grew its profitability by 12% year-on-year in the year to ₹355 crore. Gross Written Premium for General Insurance grew by 54% year-on-year in the year to ₹851 crore and Gross Premium for Life Insurance increased by 15% year-on-year in the year to ₹1,926 crore.

In the fourth quarter, the company’s net worth reached ₹6,216 crore. The company also reported a significant reduction in net debt by ₹3,270 crore, marking a reduction of 20% year-on-year. Moreover, Edelweiss Financial Services maintained a healthy liquidity position, with ₹2,880 crore in liquidity, equivalent to 16% of its total debt.

Also Read: Union Bank of India announces dividend of ₹3.60 per share, Q4 net profit up 19%

Across its various business segments, Edelweiss Financial Services demonstrated strong capitalisation, with a capital adequacy ratio of over 39% across its credit entities.

The board has recommended a dividend of ₹1.50 per share on the equity share of the face value of ₹1 each, subject to the declaration by the members at the forthcoming annual general meeting of the company.

The results came after the close of the market hours. Shares of Edelweiss Financial Services Ltd ended at ₹74.61, down by ₹2.20, or 2.86% on the BSE.

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

Oberoi Realty declares total dividend of ₹4 per share, Q4 net profit zooms 64%

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

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Oberoi Realty Ltd on Tuesday (May 14) reported a 64% year-on-year (YoY) jump in net profit at ₹788 crore for the fourth quarter that ended March 31, 2024.

In the corresponding quarter, Oberoi Realty posted a net profit of ₹480.3 crore, the company said in a regulatory filing. The company’s revenue from operations increased 36.8% to ₹1,314.8 crore compared to ₹961.4 crore in the corresponding period of the preceding fiscal.

At the operating level, EBITDA stood at ₹788.6 crore in the fourth quarter of this fiscal over ₹368 crore in the corresponding period in the previous fiscal. The EBITDA margin stood at 60% in the reporting quarter versus 38.3% in the year-ago period. EBITDA is earnings before interest, tax, depreciation, and amortisation.

Also Read: Colgate Palmolive declares interim, special dividends as Q4 figures shine

Dividend details

The board has declared a third interim dividend of ₹2 per equity share i.e. 20% of the face value of equity shares of ₹10 each in respect of the fourth quarter of the financial year ended March 31, 2024.

The record date for payment of the interim dividend is May 23, 2024. The dividend will be paid starting from May 29.

Also, the board has recommended a final dividend of ₹2 per equity share i.e. 20% of the face value of equity share of ₹10 each for the financial year ended March 31, 2024.

The final dividend, subject to the approval of the members of the company, will be paid starting from the fifth day following the ensuing AGM. The record date will be intimated later.

Also Read: Patanjali Foods Q4 Results: Net profit slides 22%, revenue up 4%

The results came after the close of the market hours. Shares of Oberoi Realty Ltd ended at ₹1,529.15, up by ₹45.35, or 3.06%, on the BSE.

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