Tag: quarterly earnings

Texmaco Rail posts 247% growth in net profit, announces dividend

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

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In a significant financial upturn, Texmaco Rail & Engineering Ltd. has reported a substantial increase in its consolidated net profit for the fourth quarter of the fiscal year 2023-24. The company’s net profit surged 247% to ₹45.32 crore, marking a notable rise from ₹18.33 crore in the same quarter of the previous fiscal year.

The engineering giant also witnessed a remarkable 37.03% increase in its revenue from operations, which soared to ₹1,144.56 crore in the fourth quarter of FY24, up from ₹835.27 crore in the corresponding quarter of the previous year. This growth is attributed to the company’s diversified portfolio and its ability to capitalize on emerging market opportunities.

Further bolstering its financial achievements, Texmaco Rail & Engineering’s profit before tax for the quarter ending March 2024 escalated to ₹66.71 crore, a significant leap from ₹22.96 crore recorded in the same period last fiscal year.

On an annual basis, the company’s performance was equally impressive. The consolidated net profit for the entire fiscal year of 2023-24 zoomed to ₹113.21 crore, up from just ₹26.03 crore in FY23. Additionally, the revenue from operations for FY24 experienced a substantial increase of 56.15%, reaching ₹3,502.87 crore compared to the previous fiscal year.

The board of Texmaco Rail & Engineering has recommended a dividend of ₹0.50 per share for the financial year 2023-24.

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

Britannia Q4 Results: Profit dips 3% to ₹537 crore, annual revenue up 3%

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

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Britannia, a leading player in the fast-moving consumer goods (FMCG) sector, reported its quarterly financial performance for the period ending March 2024 (Q4FY24) on Friday, May 3. The conglomerate witnessed a 3.2% decline in consolidated net profit, amounting to ₹536.61 crore as compared to ₹557.60 crore in the same period last year. Despite this downturn, the company experienced a 3% in revenue from operations, reaching ₹4,069.36 crore, up from ₹4,023.18 crore reported in the corresponding period of the previous fiscal year.

In a regulatory filing to the stock exchanges, Britannia disclosed its recommendation for a final dividend of 7,350%, translating to ₹73.5 per equity share for the fiscal year 2023-24. This decision is scheduled to be formalised at the company’s upcoming 105th annual general meeting (AGM) slated for August 12, 2024.

Commenting on the financial results, Britannia’s Vice Chairman and Managing Director Varun Berry expressed satisfaction with the company’s resilience in a challenging economic climate. Berry highlighted the strategic pricing measures undertaken to maintain competitiveness and emphasised the expansion of distribution channels, particularly in rural areas.

“In a tepid consumption scenario, our performance this year signifies resilience and competitiveness. Over the past 24 months, we have achieved a strong 19% growth in revenue, accompanied by a notable 43% increase in operating profit. Our market share rebounded as the year progressed as a result of strategic pricing actions to maintain competitiveness and intensified investments in brands, supported by distribution expansion,” Berry said.

Also read: MRPL Q4 net profit slumps 40%, company declares dividend of ₹2

Despite facing headwinds in certain markets, Britannia reported robust growth in key regions, surpassing expectations. The company made significant strides in modern trade and e-commerce channels, both witnessing double-digit growth compared to the previous fiscal year.

However, on the operational front, Britannia experienced a slight decline in earnings before interest, taxes, depreciation, and amortisation (EBITDA) during the March quarter, dropping 1.7% to ₹785.5 crore compared to ₹800.9 crore in the corresponding period last year. Margins also experienced a marginal decrease, falling by 50 basis points to 19.4%.

Looking ahead, Britannia remains cautiously optimistic, keeping a close eye on commodity prices and global geopolitical developments. The company intends to maintain its focus on cost-efficiency initiatives while continuing to invest in brand building and market share expansion.

Also read: Q4 results: NSE to give ₹90 dividend per share and 4 bonus shares for every 1 share held

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

Oracle Financial Services Q4 Results: Products and Services push revenue up 12% to ₹6,373 crore

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

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Oracle Financial Services Software Limited, a subsidiary majority-owned by Oracle, has disclosed its financial outcomes for the quarter and fiscal year concluding on March 31, 2024, in which it reported a 12% year-on-year rise in its consolidated revenue to ₹6,373 crore.

Operating income for fiscal year 2024 stood at ₹2,680 crore, exhibiting a robust 13% escalation from fiscal year 2023. Net income also surged to ₹2,219 crore for fiscal year 2024, demonstrating an impressive 23% increase compared to the previous year.

The company’s consolidated revenue for the quarter ending March 31, 2024, amounted to ₹1,642 crore, showing a 12% year-over-year growth. Operating income for the quarter reached ₹703 crore, up by 13% compared to the same quarter last year. Net income for the quarter was reported at ₹560 crore, indicating a robust 17% year-over-year increase.

Breaking down the business segments:
– The Products business exhibited a revenue of ₹1,491 crore for the three months ending March 31, 2024, demonstrating a 12% increase year-over-year. The operating income for this segment was ₹718 crore, up by 13% year-over-year.
– Meanwhile, the Services business posted a revenue of ₹151 crore for the same period, marking a 13% year-over-year growth, with an operating income of ₹44 crore, showing an impressive 47% increase year-over-year.

₹The Board of Directors declared an Interim Dividend of ₹240 per equity share with a face value of ₹5 each for the financial year 2023-24.

CEO Makarand Padalkar expressed contentment with the company’s performance, stating, “We are very pleased to report double-digit growth in revenues, operating income, and net income for the fiscal year ended March 31, 2024.” Padalkar underscored the success of their products and services within the financial industry, noting a 43.7% growth in license fee signings compared to fiscal year 2023.

Chief Financial Officer Avadhut Ketkar emphasised the company’s strong financial performance, stating, “For the quarter, our revenue increased by 12% and net income grew by 17% on a year-over-year basis.” Ketkar pointed out the company’s operating margin of 43% and a net margin of 34% for the quarter ended March 31, 2024, along with an operating margin of 42% and a net margin of 35% for the fiscal year 2024.

Also read: Syngene International Q4 | Profit up 6%, company to pay dividend of ₹1.25 per share

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

ICICI Prudential Q4 Results | Profit after tax falls 26% to ₹174 crore

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

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ICICI Prudential Life Insurance Company reported a lower new business margin on Tuesday, hurt by persistent decline in demand for high-value policies and as customer preference shifted towards low-margin products.

Value for new business (VNB), the expected profit from new policies, fell 19.5% to ₹2,227 crore for the year ended March 31, dragging the VNB margin to 24.6% from 32% a year earlier.

Life insurers have seen a rising share of low-margin unit-linked insurance plans (ULIPs) amid a strong domestic equity market.

The NSE Nifty 50 Index rose 2.7% in the January-March period, logging its fourth straight quarterly gain and scaling record highs.

Continued weak demand for high-value policies post-tax implementation changes is also weighing heavily on their VNB margins, analysts said.

The decline in VNB margin is primarily on account of the shift in the underlying product mix towards unit-linked business, the company said in an exchange filing.

The linked segment contributed 43.2% to the overall product mix by annualised premium equivalent (APE) for the year, ICICI Prudential added.

APE, a key metric for insurers, is a gauge of sales that gives the annualised total value of all single premium and recurring premium policies. The company’s APE sales grew 4.7% for the year.

The ICICI Bank-backed insurer posted a net premium income growth of 17% to ₹14,788 crore for the three months ended March 31.

The company’s fourth-quarter profit after tax fell 26% to ₹174 crore from a year earlier.

Rival HDFC Life Insurance also reported a decline in new business margin last week.

Shares of ICICI Prudential closed 2.3% higher ahead of results. The stock had gained nearly 14% during the March quarter.

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

Chemicals sector may show sequential improvement, but full recovery still two quarters away

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

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The chemicals industry is anticipated to show a sequential improvement in the January to March 2023-24 (Q4FY24) quarter. However, its year-on-year (YoY) performance is likely to remain weak.

Continued dumping from China, driven by lower demand in the region, is affecting global price realisations.

There are signs of recovery in certain segments of the chemicals industry, notably in end-user industries such as dyes, pigments, and polymers. However, the demand for agrochemicals remains subdued.

Is a recovery on the horizon? Not in the immediate future.

According to Kotak Institutional Equity, a recovery is not expected for at least another one to two quarters, while Elara predicts that price recovery will also take a minimum of two quarters.

Key expectations from chemical companies:

Kotak projects a dip in Aarti Industries‘ profit by 15% over last year. But sequentially, it will be up 0.4%.

For Atul Ltd, profit after tax (PAT) is expected to decline 11% from last year, but grow 17% over last quarter.

Navin Fluorine’s profit is expected to fall 65% on year, but rise 14% over the last quarter.

SRF‘s profit is expected to fall 26% over last year, while Tata Chemicals’ profit is expected to decline 82% year-on-year (YoY).

Commodity chemical companies and soda ash prices continue to be lower.

Vinati Organics‘ profit could dip 28% YoY, but increase 8% quarter-on-quarter (QoQ).

In a recent interaction with CNBC-TV18, Vinati management indicated that the worst is over in terms of business fundamentals, as the trend of destocking seems to be nearing its conclusion.

“We are seeing good recovery for most of the products, customers are sitting on very little or zero inventory and hence the reordering has picked up,” she said.

UPL, the biggest agrochemical company, is expected to see a loss yet again, though losses could come down from the last quarter.

Double-digit price erosion is likely.

PI Industries will be an exception as always. It is expected to see profit growth of 50% YoY, but that will decline 6% QoQ.

Growth will be led by scaled-up in revenues from new products.

Valuations continue to remain elevated across names.

Aarti and Atul with similar end-user profiles are currently trading between 41.6 times and 46 times, SRF and Navin Fluorine are trading between 38 times and 48 times, Tata Chemicals is around 28 times, Vinati Organics is at 39 times, while PI Industries is around 32.5 times.

Ranjit Cirumalla of IIFL concurs with Kotak institutional’s
view that the chemical sector will take at least two quarters to recover.

“Valuation remains expensive and that makes us a bit more cautious on the sector,” he said in an interview with CNBC-TV18.

For more, watch the accompanying video

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

TV18 Q4 Results | Consolidated revenue soars 66% to ₹2,330 crore

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

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TV18 Broadcast Limited, one of India’s leading media conglomerates, has released its financals for the fourth quarter of the 2023-24 fiscal, painting a picture of robust revenue growth juxtaposed with operational challenges. The quarter ending March 2024 witnessed a significant surge in consolidated revenue, yet the company grappled with an unexpected operating EBITDA loss, primarily attributed to the stark contrast in the performance of its TV news and entertainment segments.

Consolidated revenue soared impressively by 66%, reaching ₹2,330 crore compared to ₹1,406 crores in the same period last year. This growth can be attributed to various factors, including increased viewership, advertising revenue, and strategic business expansions. However, amidst the revenue boom, TV18 faced unexpected headwinds in its operational EBITDA, reporting a loss of ₹161 crore, a substantial downturn from the ₹77 crore EBITDA reported in the previous year.

#4QWithCNBCTV18 | #TV18 reports #Q4 earnings👇

➡️Cons Revenue up 66% at ₹2,330 cr vs ₹1,406 cr (YoY)
➡️Operating EBITDA loss at ₹161 cr vs EBITDA of ₹77 cr (YoY)
➡️TV News EBITDA up 2% at ₹66 cr vs ₹65 cr (YoY)
➡️Entertainment Business EBITDA loss at ₹228 cr vs EBITDA of… pic.twitter.com/Bdv878Nf3o

— CNBC-TV18 (@CNBCTV18Live) April 18, 2024

The performance of TV18’s segments varied significantly, with the TV news division demonstrating resilience by recording a 2% increase in EBITDA, reaching ₹66 crore compared to ₹65 crore in the previous year.

The entertainment business of TV18 faced a challenging quarter, marked by an EBITDA loss of ₹228 crores, a decline from the ₹12 crore EBITDA reported in the same period last year. However, TV18 said JioCinema was the fastest growing OTT platform in the country during the fiscal.

#4QWithCNBCTV18 | Q4 EBITDA impacted by operating losses from sports & digital segments, says TV18 pic.twitter.com/IIrL2unuQx

— CNBC-TV18 (@CNBCTV18Live) April 18, 2024

TV18 Broadcast Limited has attributed the Q4 EBITDA impact to operating losses from its sports and digital segments.

Also read | Infosys Q4 Results: FY25 revenue growth seen between 1% and 3%; Deal wins at $4.5 billion

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

Vinit Sambre believes this sector is worth keeping on your radar

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

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Vinit Sambre, Head of Equities, DSP Mutual Fund believes the opportunity size in the Quick Service Restaurants (QSRs) space is huge, though the sector is currently going through a demand slowdown.

In a conversation with CNBC-TV18, Sambre noted that the growing urbanisation and rising income levels will drive consumption and discretionary spending.

“While the consumption trend broadly looks slow, this is also a good time to gradually build some of these discretionary names is what I feel. The only caveat being that we would like to focus more on businesses which structurally are able to produce decent return on equity (RoE) over a long period of time.,” he said.

Also Read | Healthy Junk: Here’s how Gen Z food habits boosted this QSR startup’s sales to over ₹40 crore in a year

Another space that Sambre has been positive on is private sector banking. HDFC Bank is part of DSP portfolio, he noted.

“Banking as a pack is trading at reasonable valuations including HDFC Bank. This is a good time to accumulate these high-quality franchises,” he said.

Speaking about overall earnings trajectory, he highlighted that for the last three quarters, the topline for companies has been decelerating and has come down to the single-digit growth number.

“While the earnings momentum is strong, the benefit of margin tailwind has flown through. Hence, as we go towards the next 2-3 quarters, the sales momentum has to recover otherwise we will see a slowdown in the earnings as well. So from that perspective, the next 2-3 quarters remain important,” he said.

For more, watch the accompanying video

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

Chemical manufacturer Epigral aims to maintain margin at 25-28% in FY25

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

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Maulik Patel, Chairman and Managing Director of Ahmedabad-based Epigral, expects to sustain margin between 25% and 28% in the next financial year (FY25). Patel highlighted the significant difference in the current demand dynamics between the domestic and export sectors.

The CMD of the integrated chemical manufacturer noted that the demand in the domestic sector is currently outpacing exports. In the third quarter, 10% of Epigral’s business came from exports and the balance from the robust domestic market.

Patel predicts an upswing in both demand and margins in the domestic market starting from the fourth quarter.

Also Read | Chemical manufacturer Rossari Biotech eyes 10-12% revenue growth in FY24

With a diversified portfolio that now includes derivatives and specialty products, Epigral, formerly known as Meghmani Finechem, has strategically focused on capex in these areas. Patel highlighted the completion and commissioning of three significant projects by the end of the fourth quarter: the chlorothalonil value chain, chlorinated polyvinyl chloride (CPVC) expansion project, and CPVC compound project. He anticipates that these projects will contribute to volume growth in first half of FY25.

Epigral appears well-positioned to capitalise on the favorable domestic demand scenario, with a strategic focus on diversification and expansion projects. The company’s commitment to sustaining healthy margins and fostering growth through new initiatives underscores its optimism for the upcoming fiscal year.

Also Read | India’s chemical companies are now eyeing the EV battery value chain

Epigral’s market capitalisation is currently at around ₹3,982.79 crore. Formerly known as ,

For more, watch the accompanying video

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

Shree Digvijay Cement aims to maintain earnings per tonne at ₹1,400-1,500

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

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Anil Singhvi, Executive Chairman of Mumbai-based Shree Digvijay Cement, expects the company’s earnings before interest, tax, depreciation, and amortisation (EBITDA) to be maintained in the range of ₹1,400-1,500 per tonne if the product prices sustain at current levels.

Singhvi said the sales in November were lacklustre with the company losing out on sales of nearly 25,000-30,000 tonnes. This could affect the volume growth target for the year marginally. From the earlier target of 8-9% growth in volumes, the company now expects around 6-7% growth in the current financial year (FY24). For the first nine months of the year, the volume growth has been around 4.5%.

The company aims to complete its ongoing capacity expansion by the October to December 2024 quarter, at an estimated cost of about ₹250 crore. The financing for the expansion is being done via a mix of equity and debt.

“We would look at half equity, half debt. We are doing reasonably well, our cash flows are good. So we may borrow ₹125-150 crore, and the remaining will be internal accruals,” Singhvi explained.

Also Read | Shree Cement: I-T dept claims ₹4,000 crore demand for wrongful claims & deductions

The market capitalisation of Shree Digvijay Cement is currently at ₹1,658.51 crore. The stock has gained close to 60% over the past year.

For more, watch the accompanying video

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

Third quarter earnings outlook for hospitals and healthcare sector

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

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In the healthcare space, hospitals are expected to report mid-teen growth driven by the average revenue per occupied bed (ARPOB), aided by an improved payor and case mix.

Occupancies, however, could be sluggish for hospitals due to festival season and children’s holidays. Now analysts expect one to two more quarters of growth for hospitals till the high base starts to probably impact growth.

Stock specific – Apollo Hospitals could report as much as over 50% year-on-year growth in profit led by lower losses in Apollo HealthCo. Operational losses are expected to reduce to as much as around ₹10 crore versus ₹38.7 crore according to some analysts for Apollo HealthCo.

The company saw minimal bed addition, which is likely to keep the hospital revenue growth restricted this quarter and the EBITDA growth for the hospital business to around 2-3%.

Medanta Global Health could see occupancies reduced by around 200 to 300 basis points (bps) quarter on quarter due to the festive season. ARPOBs could rise as much as 9% year-on-year. Analysts will be watching for commentary on increased competition in the Indore market for Medanta in particular.

Also Read | Cement Q3FY24 outlook: What experts anticipate on demand and pricing

For Max Health, the Street is expecting double-digit growth of around 14% YoY with stable average revenue per occupied bed sequentially. When it comes to diagnostic companies, one should expect revenue to be driven by volumes. However, one should watch for the festive season to impact the testing numbers.

Dr Lal Pathlabs is expected to report around a 15% growth led by a low base, Metropolis has indicated witnessing an early double-digit growth in terms of revenue for its core business of around 12% YoY.

Also Read | FMCG Q3FY24 outlook: Experts weigh in on likely outperformers amid challenges

Focus on key segments such as preventive testing should aid overall numbers. For example, Jaanch and Arogyam from Thyrocare and premium and specialised testing for Metropolis were the fastest-growing segments for the company in Q2.

For more, watch the accompanying video

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