Reliance Retail Q3 Results: Net profit jumps 32% YoY to Rs 3,165 crore
Reliance Retail Q3 Results: Revenue from operations in the reporting period rose 24% year-on-year to Rs 74,373 crore. The business posted an EBITDA of Rs 6,258 crore, which was up by 31% year-on-year. EBITDA before investment income was recorded at Rs 6,061 crore, up 30% year-on-year. Key Points
Economic TimesIndia's industrial output rose 3.7% in June
India's industrial output (INIP=ECI) rose 3.7% year-on-year in June, data from the Ministry of Statistics showed on Friday. Key Points
ReutersIndia's industrial output rose 5.2% in May
India's industrial output (INIP=ECI) rose 5.2% year-on-year in May, data from the Ministry of Statistics showed on Wednesday. Key Points
ReutersFinolex Q1 result: Net profit up 10% to ₹110.88 crore, shows volume growth despite PVC price correction
Finolex Industries reported unaudited Q1FY24 financial results with a decrease in revenue but strong margins and volume growth in the PVC pipes and fittings segment. Despite a correction in PVC prices, the company's operating margin improved and it demonstrated strong year-on-year growth. Key Points
mintTips Industries Q4 Results Live : profit rise by 40.58% YOY
Tips Industries Q4 Results Live : Revenue increased by 21.61% YoY & profit increased by 40.58% YoY Key Points
mint
Lords Chloro Alkali Q3 FY24 results : loss at ₹3.2Cr, Revenue decreased by 21.74% YoY
Lords Chloro Alkali Q3 FY24 results : Revenue decreased by 21.74% YoY & loss at ₹3.2Cr Key Points
mintIndia's JSW Energy posts higher Q3 profit on demand boost, lower fuel costs
BENGALURU (Reuters) - India's JSW Energy reported a jump in third-quarter profit on Tuesday, helped by greater power demand and lower fuel costs. India's electricity generation rose 8.7% year-on-year Key Points
ThePrintTCS revenue growth slows to 2.8% over weak demand
India Business News: TCS's growth in the September quarter was weak due to a decrease in discretionary spending and slower deal ramp-ups. Revenue grew by 2.8% in constant Key Points
Times Of IndiaStocks in news: Bandhan Bank, RBL Bank, Marico, Jubilant Foodworks, HAL
Bandhan Bank's advances grew 12% year-on-year to Rs 1.08 lakh crore while its loan collection efficiency remained stable at 98% at the end of the September quarter. Key Points
Economic TimesSupply constraints are airlines’ Achilles heel
The number of domestic air passengers rose by a mere 1% year-on-year in February (adjusted for the extra day this leap year), the slowest growth in the past 24 months. But there are signs that this will pick up. Key Points
mint
Stocks in news: VST Industries, DMart, Hindustan Zinc, RVNL, Adani Enterprises
Bank of Maharashtra's total business rose 19% year-on-year to Rs 4.35 lakh crore in the December quarter, compared with Rs 3.66 lakh crore. Key Points
Economic TimesPage Industries badly needs to script a new chapter on growth
In Q3, Page’s revenues grew by just 3% year-on-year. But in Q4, revenues have fallen by almost 13% to ₹969 crore with a 14.6% drop in volume. Key Points
mintSmartphone shipments seen to have shrunk 15% last quarter
Smartphone shipments in India are expected to drop by 10-15% year-on-year in 1Q23 due to brands focusing on clearing inventory instead of high demand, according to Counterpoint Research. Smartphone sales were 19% in January due to online purchases for Republic Day, but fell 12% in February. Sales for premium smartphones, however, were sustained due to new launches and discounts. Channel partners struggled to accept large quantities of shipments due to low turnover rates consequently leading to a slower inventory movement in Q1. Key Points
Economic TimesBharti Airtel Q1 Results: Profit flat at Rs 1,612 crore; misses St estimates; ARPU rises to Rs 200
The profit figure is way below the ET Now poll estimate of Rs 2,861 crore. Revenue from operations during the quarter rose 14% year-on-year to Rs 37,440 crore. The company reported 19% growth in its consolidated EBITDA at Rs 19,746 crore. EBITDA margins improved 271 basis points year-on-year to 53.7% Key Points
Economic TimesListed internet companies buck the trend to expand payrolls in FY23
While Paytm saw its employee headcount expand by a whopping 3.5 times during the fiscal, PB Fintech, which runs the Policybazaar platform, saw a 32% year-on-year increase in employees. Mumbai-based FSN Ecommerce, which runs the Nykaa platform, saw a 15% year-on-year increase in its headcount, while CarTrade Techs workforce increased 44%. Key Points
Economic Times
KPIT Technologies Q4 Results Live : profit rise by 47.27% YOY
KPIT Technologies Q4 Results Live : Revenue increased by 29.53% YoY & profit increased by 47.27% YoY Key Points
mintHCL Tech Q1 results: Net profit rises 20% YoY to Rs 4,257 crore, revenue grows 7%
HCL Technologies on Friday reported a 20% year-on-year jump in net profit for the June quarter to Rs 4,257 crore. Its net profit in the same quarter last year was Rs 3,534 crore. Key Points
India TodayPrakash Pipes Q3 FY24 Results Live: Profit Rises by 72.3% YoY
Prakash Pipes Q3 FY24 Results Live: Revenue Decreased by 7.96% YoY & Profit Increased by 72.3% YoY Key Points
mint5paisa Capital Q3 Results: Net profit soars 37% YoY to Rs 15 crore; revenue jumps 20%
Consolidated income of 5paisa Capital during the reporting quarter jumped 20% year-on-year to Rs 100 crore as against Rs 83.8 crore in the corresponding quarter of last year. Profit before tax for the quarter increased 37% to Rs 20.2 crore. For nine months of FY24, revenue rose 14% year-on-year to Rs 282 crore, while profit was up 67% year-on-year to Rs 48.7 crore. Key Points
Economic TimesPaytm Q1FY24: Consolidated net losses decline by 44.5% y-o-y but widen sequentially
India Business News: One 97 Communications which owns finetch major Paytm reported a 44.5% year-on-year decline in consolidated net losses in the June quarter to Rs 358.4 Key Points
Times Of India
Poonawalla Fincorp Q4 result: Net profit jumps to Rs 181 crore, dividend of Rs 2 per share announced
In Q4, the company’s net profit jumped to Rs 181 crore, up 103 per cent year-on-year and 11 per cent quarter-on-quarter. For the entire year, its profit stood at Rs 585 crore, up 100 per cent year-on-year. Key Points
India TodayAxis Bank Q3 Results: Net profit rises 4% YoY to Rs 6,071 crore, beats estimate
Axis Bank Q3 Results: Net interest income in the third quarter rose 9% to Rs 12,532 crore. On a sequential basis, net profit increased 3.5%, while net interest income was up by a marginal 1.7% quarter-on-quarter. The year-on-year figures are not truly comparable due to Citi's acquisition. Key Points
Economic TimesHindustan Zinc Q2 Results: Net profit plunges 35% YoY to Rs 1,729 crore
Hindustan Zinc's revenue from operations during the quarter ended September declined 16% year-on-year to Rs 6,619 crore as against Rs 8,127 crore in the same quarter of the previous year. The company has reported an EBITDA (earnings before interest, tax, depreciation and amortisation) of Rs 3,139 crore, down about 24% year-on-year. Margins too declined to 46.2%. Key Points
Economic TimesONGC Q3 results today: What to expect and key things to track
Net profit for the third quarter is likely to fall around 13% year-on-year, according to an average estimate of four brokerages. On a sequential basis, profit is seen dropping by a marginal 1%. Key Points
Economic TimesICICI Bank posts stellar Q2 results: 35.7% YoY profit growth, 24% surge in Net Interest Income
The Mumbai-based bank's standalone profit surged to Rs 10,261 crore for the quarter, marking a substantial increase from the Rs 7,557.84 crore reported in the same period the previous year. Key Points
Business Today
Adani Total Gas Q1 Results: Net profit rises 9% YoY to Rs 150 crore
Revenue from operations rose by a marginal 2% year-on-year (YoY) to Rs 1,135 crore in the first quarter. The same stood at Rs 1,110 crore in the last year period. Key Points
Economic TimesTitan Q4 Preview: PAT may rise up to 34% on broad-based growth across segments
Titan is expected to deliver strong Q4 results, driven by a favourable base year and robust demand for wedding jewellery. The watches and wearables and emerging business segments also showed strong performance. According to five brokerages, Titan's profits could grow somewhere between 26% and 34%, while revenue is expected to rise by 25-29%. In Q4, Titan observed healthy, double-digit growth across all major segments. Moreover, the EBITDA margins are expected to expand, aided by strong operating efficiencies. Key Points
Economic TimesSchaeffler India Q4 CY23 Results Live : profit falls by 9.25% YOY
Schaeffler India Q4 CY23 Results Live : Revenue increased by 4.45% YoY & profit decreased by 9.25% YoY Key Points
mintStocks in news: Titan, RIL, Puravankara, Bank of Baroda, Biocon
Titan Co has clocked 20% year-on-year growth in its revenues for the second quarter ended September 2023. A total of 81 stores were added in this period, taking the groups retail presence to 2,859 stores. Key Points
Economic TimesFoxconn's July sales drop 1.23% y/y, Q3 outlook better
Taiwan's Foxconn, the world's largest contract electronics maker and a major supplier for Apple, said on Saturday revenue in July fell 1.23% year-on-year but forecast a business rebound for the third quarter. Key Points
Reuters
China's consumer prices fall fastest in 3 years, factory-gate deflation deepens
Consumer prices in China fell at the fastest clip in three years in November, while the world's second-largest economy saw factory-gate deflation deepening. China's consumer price index (CPI) dropped 0.5% both from a year earlier and from October; deeper than 0.1% fall estimated in a Reuters poll. Key Points
Economic TimesImproving travel, wedding season likely to boost performance of hotel companies
The hospitality sector is expected to maintain strong performance in the latter half of the fiscal year, with a projected 15-20% growth in average revenue per available room (RevPAR). Factors contributing to optimism include the ongoing wedding season, with an estimated 38 lakh weddings generating significant business opportunities. Key Points
Economic TimesAdani Ports registers 48% cargo volume growth in October, shares jump 3%
Following the announcement, shares of Adani Ports jumped 2.89 per cent to Rs 796.65 apiece at around 12:20 pm. Key Points
India TodayHousing prices hike 61% in this Delhi-NCR area, 42% in Hyderabad in a year; how much return can you get fr
All eight cities — Ahmedabad, Bengaluru, Chennai, Delhi NCR, Hyderabad, Kolkata, Mumbai Metropolitan Region (MMR), and Pune saw an increase in housing prices in Q4. The current state of real estate is the most productive when sales, supply, and prices are growing, and the price rise is not speculative. These factors work in harmony in a balanced and healthy real estate market.”, said Pankaj Kapoor, Managing Director, Liases Foras. Check how much housing prices have increased in your city in last one year. Key Points
Economic TimesMahindra Finance needs more than disbursement growth
Year-on-year growth in loan disbursements stood at about 16%, and total assets under management was up 26% year-on-year. However, monthly collection efficiency was lower, dropping to 94% from 96% in November 2022. Key Points
mint
Shree Cement Q2 Result Preview: Improved realisations, lower costs likely to aid per tonne profitability
Q2 Result Preview- Helped by strong cement demand, Shree Cement’s Q2 sales volume may come in at 8.4 mt, rising12% yoy, as per Centrum Institutional Research estimates. This coupled with improved realisations and lower costs may mean Ebitda/ tonne at ₹1,046 thereby may rise 49.1% year-on-year. Key Points
mintThis Indian city to see highest rise in prime residential property prices in world next year: Report
Mumbai has recorded the sixth highest year-on-year growth in prime residential property prices among global cities in the April-June period of 2023. With a hike of 3.6 per cent year-on-year in Q2 2023, Bengaluru ranked at 20th position on the list. 'Prime Global Cities Index' is a valuation-based index tracking the movement of prime residential prices across 46 cities worldwide. Knight Frank has also provided the forecast for 26 global prime residential markets for the year 2024. Read on Key Points
Economic TimesBanks report lowest bad loan provisioning in Q4 since the pandemic amid improving asset quality
Banks in India saw a fall in loan loss provisioning for the fifth consecutive period, indicating improving asset quality and sustained collection efficiency. Cumulative bad loan provisioning declined by 42.5% to Rs 18,354.4 crore, the lowest since March 2019 quarter, indicating an overall improvement in the country's banking system. The private sector banks' provisioning decreased by 59.4% YoY, while public sector banks' provisioning fell by 37.3%. The country's credit offtake remained robust despite rising interest rates and global uncertainties, with personal loans and NBFCs being the key growth drivers. Key Points
Economic TimesIndia Inc's Q2 Report card: Early birds log strong profit growth
For a sample of 219 companies, aggregate net profit grew 29.8% year-on-year in the September quarter, the most in six quarters. Revenue rose at a four-quarter high of 18%. Revenue and net profit had grown 20.6% and 7.5%, respectively, in the year-ago quarter. Key Points
Economic TimesQ4 results today: What to expect from Bajaj Finance, Maruti, HDFC Life, SBI Life and L&T Tech?
India's corporate earnings season focuses on Nifty heavyweights Bajaj Finance, Maruti Suzuki, HDFC Life, SBI Life, and L&T Tech. Maruti Suzuki is expected to post a 22% YoY and 12% sequential growth, along with 41% YoY profit growth. Bajaj Finance is predicted to show a 30% YoY growth in consolidated net profit with SBI Life at 14% YoY APE growth for Q4. Meanwhile, HDFC Life is expected to see a 27% YoY APE growth in Q4. L&T Tech's profit after tax (PAT) is seen to be 5% higher, with revenue for the quarter seen at Rs 2,077 crore. Key Points
Economic Times
Shipments from India to Russia more than doubled in July
Amid slackening demand for engineering goods from major markets such as the US and China, shipments to Russia continued their uptrend and more than doubled to US$ 123.65 million in July 2023 from US$ 55.65 million in July 2022, a rise of 122.03 per cent, according to a media release issued by EEPC India on Wednesday. Key Points
Economic TimesAllied Blenders and Distillers shares list at 14% premium over issue price
Allied Blenders, post IPO debut, saw a 14% premium. The company holds 8% IMFL market share in India. Revenue grew by 9% and profit after tax by 50%. Facing financial volatility, it expanded the product portfolio with a strong brand presence. Key Points
Economic TimesStocks in news: HDFC Bank, IndusInd Bank, Ultratech, Bajaj Finance, Prestige Estates
HDFC Bank reported a 55.4% year-on-year (YoY) growth in its gross advances to Rs 25.08 lakh crore for the quarter ended March. On a sequential basis, the gross loans rose by 1.6%. Key Points
Economic TimesPassenger vehicles industry to grow up to nine percent this fiscal, says ICRA
The report said that dealer inventories remain high despite strong retail sales, and the pace of growth is expected to taper off in the coming financial year. ICRA said that during the recently concluded festive season, retail sales grew six percent year-on-year. Key Points
Economic TimesSBI Q3 results today: What to expect, key things to track for investors
SBI has guided for a shortfall of Rs 10,000 crore towards the new wage agreement, which will be spread over two quarters of H2FY24. In the second quarter, SBI had a one-off wage provision of Rs 3400 crore. Key Points
Economic Times
Stocks in news: IndiGo, Tata Motors, Titan, Paytm, Hero MotoCorp
Titan reported 9% growth in its standalone net profit at Rs 1040 crore in the third quarter. Revenue from operations jumped 20% year-on-year to Rs 13,052 crore. Key Points
Economic TimesDMart Q3 result preview: PAT may rise 23% YoY; gross margins to expand
Avenue Supermart is expected to report healthy growth in its consolidated revenues, with revenue for the quarter ended December estimated to grow 17-18%. Net profit is likely to rise around 23% YoY. Analysts expect DMart to report a gross margin of 14.1% and an EBITDA margin of 8.4%. Revenue growth for Dmart in Q3 is estimated at 17.2%. Key Points
Economic TimesTata Motors global wholesales up 9 pc in Q3
Tata Motors global wholesales, including that of Jaguar Land Rover went up by 9 per cent year-on-year to 3,38,177 units in the December quarter. Global wholesales of Tata Motors' commercial vehicles and Tata Daewoo range in October-December period of FY24 were at 98,679 units, up 1 per cent over third quarter of FY23, the company said in a regulatory filing. Key Points
Economic TimesIndia's key infra sectors' growth slows to 7.8% in Nov from 12.1% in Oct
In November, India's eight key infrastructure sectors witnessed a year-on-year growth of 7.8%, down from the previous month's 12.1%, according to the Ministry of Commerce & Industry. The Eight Core Industries (ICI) index had grown by 5.7% in November 2022. Positive growth was observed in coal, electricity, fertilizers, natural gas, refinery products, and steel. Key Points
Economic TimesIndia's October industrial output up 11.7% y/y
NEW DELHI (Reuters) - India's industrial output rose 11.7% year-on-year in October, data from the Ministry of Statistics showed on Tuesday. Analysts in a Reuters poll had forecast an expansion of 10%. Key Points
ThePrint
Dr Reddy's Labs Q2 Results: Profit rises 33% YoY to Rs 1,480 crore, revenue up 9%
The company reported an EBITDA of Rs 2,181 crore in the September quarter, higher by 13% YoY. EBITDA margins in the same period came in at 31.7%.Segment-wise, revenue from the global generics business jumped 9% year-on-year to Rs 6,110 crore, primarily driven by North America and Europe. Key Points
Economic TimesAxis Bank Q2 net profit rises 10 pc to Rs 5,864 crore on higher interest income
New Delhi, Oct 25 (PTI) Private sector lender Axis Bank on Wednesday reported a 10 per cent increase in the September 2023 quarter net profit to Rs 5,864 crore on higher interest income. The lender had reported a net profit of Rs 5,330 crore in the year-ago period. The bank’s net interest income (NII) grew […] Key Points
ThePrintIndian shares set to open weak as US rate fears, high oil prices weigh
Indian shares are set to open marginally lower on Monday, as rising U.S. rate concerns after strong jobs data and surge in oil prices due to military conflict in the Middle East weighed on sentiment. Key Points
ReutersPepsi India bottler Varun Beverages posts profit growth on steady volumes
Pepsi India bottler Varun Beverages (VARB.NS) on Thursday reported a 26.2% jump in its second-quarter profit, underpinned by improved product mix, a slide in input costs and higher volume growth. Key Points
ReutersKia domestic sales dip 19 pc to 19,391 units in Jun
New Delhi, Jul 1 (PTI) Kia India on Saturday said its domestic wholesales declined 19 per cent to 19,391 units in June. The company dispatched 24,024 units to dealers in June 2022. The automaker said its domestic sales rose by 12 per cent year-on-year to 1,36,108 units in the January-June period this year. “We have […] Key Points
ThePrintIndia's goods and services tax receipts rise 12% y/y in June
By Shivangi Acharya NEW DELHI (Reuters) - India's goods and services tax (GST) collections rose nearly 12% year-on-year to 1.61 trillion rupees ($19.61 billion) in June, a government statement showed Key Points
ThePrintIndia's goods and services tax receipts rise 12% year over year in June
India's goods and services tax (GST) collections rose nearly 12% year-on-year to 1.61 trillion rupees ($19.61 billion) in June, a government statement showed on Saturday. Key Points
ReutersTwo-wheeler sales remain in fast lane on strong demand
Forecasts of a normal monsoon, government spending on infrastructure projects and healthy procurement of wheat are expected to put more money in the hands of farmers and spur demand this year. The momentum is expected to continue in the coming months, driven by an uptick in customer sentiments, forecast of normal monsoon and a host of new launches in the premium segment, Hero MotoCorp said in a statement. Key Points
Economic TimesRetail leasing more than doubled in Q1 CY23, says CBRE
India’s retail-sector leasing more than doubled year-on-year to 1.5 million sq. ft. across eight cities in the first quarter of calendar 2023, said CBRE South Asia, real estate consulting firm. Key Points
The HinduHandset output down by up to 20% since January
Smartphone shipments - a proxy of sales - declined by 30% year-on-year in October-December 2022 period and by 18% in January-March 2023 as compared to the same period last year, as per latest numbers from industry researcher Counterpoint. India's largest mobile phone retailer, Reliance Retail too said sales of devices or mobile phones had lagged in the January-March quarter. Key Points
Economic Times
Infosys Q4 results: Net profit rises nearly 8%, misses street estimates
Infosys reported a 7.77 per cent year-on-year rise in net profit at Rs 6,128 crore, compared to Rs 5,686 crore in the corresponding period last year. Key Points
India TodayIndian Pharma Market Sustains Double-Digit Growth In March
Overall, the pharma market grew at 9.3% in fiscal 2023, according to India Ratings. Key Points
BQ Prime