GALA GLOBAL PRODUCTS LTD Q2 RESULTS
Gala Precision Engineering IPO opens bids on Monday, announces Rs 503-529 price band. Check details
The IPO is a mix of a fresh issue of 25.59 lakh equity shares amounting to Rs 135.34 crore and an offer for sale (OFS) of 6.16 lakh shares, totaling up to Rs 32.59 crore.
Zomato captains India Inc’s dream Team XI with over 1,000% profit growth
The June quarter saw Zomato and 10 other companies achieving over 1,000% profit growth. Zomato's profit skyrocketed 12,550% year-on-year. Other remarkable performers were Shakti Pumps and Lotus Chocolate. Experts advise focusing on growth outlooks rather than past profits when making investment decisions.
Q1 results shocker: 40 companies report more than 50% drop in profit
The profits of 40 Indian companies have plummeted by more than 50% in the June quarter, primarily due to higher raw material costs and unfavorable base effects. Notable names like Allcargo Logistics and Rajesh Exports saw drastic declines. Analysts suggest cautious investment strategies amid high market valuations and slowing profit growth.
LIC plays the price game for growth, margins take a back seat, for now
LIC, India's largest insurance provider, shifted its growth strategy, focusing on expansion over margins. In Q1 FY25, it reported a 24% rise in value of new business due to a 21% increase in annualized premium equivalent. This strategy led to a rise in non-par segment premiums but a decline in overall margins.
Apple India business value exceeds ₹2 lakh Cr. How did it reach there?
In fiscal 2024, Apple Inc. achieved a business value exceeding ₹2 lakh crore in India, driven by increased iPhone exports and domestic sales of products like MacBooks, iPads, and Watches. Apple's growth is notable for its rapid expansion in production and exports, likely the fastest by any company in India in the past 50 years. Key factors include leveraging the Production-Linked Incentive (PLI) scheme, strategically choosing manufacturing locations in South India, and enhancing sales through revamped distribution strategies and premiumization of products.
Emcure Q1 Results: Net profit rises 8.2% to Rs 153 crore, revenue up 16%
Emcure Pharmaceuticals saw an 8.2% rise in net profit for Q1FY25, reaching Rs 153 crore due to strong sales in India and abroad. Revenue from operations increased by 16.6% to Rs 1,815 crore. The company reported growth across Europe and Canada, emphasizing its successful integration of Sanofi's cardiovascular brands.
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India’s defence exports skyrocket by 78% in Q1 FY 2024-25, sets new benchmarks
India’s defence exports surged by 78% in the first quarter of FY 2024-25, reaching Rs.6,915 crore. This significant growth reflects India's ongoing efforts towards self-reliance in defence manufacturing, as highlighted in the Economic Survey 2023-24. The survey also noted that India achieved its highest-ever defence exports of Rs.20,915 crore in FY 2023-24, a 25% increase from the previous year. The country is on track to meet its target of Rs.50,000 crore in defence exports within the next five years.
Eicher Motors Q1 preview: Revenue may rise by up to 7.2% YoY to Rs 4,273 crore on richer product mix
Eicher Motors Q1 Result Today: Eicher Motors' net profit for the quarter ended June 30, 2024, was projected between Rs 943 crore and Rs 1,034 crore. Revenue estimates ranged from Rs 4,178 crore to Rs 4,273 crore. The profit rise was attributed to volume growth and higher average selling prices of Royal Enfield motorcycles, according to multiple brokerages.
Q1 results today: LIC, RVNL, GRSE, MRF among 225 companies to announce earnings on Thursday
The initial quarter earnings season began with 225 companies, including LIC, Eicher Motors, RVNL, and SAIL, reporting their financial performance. Eicher Motors was expected to achieve a significant profit range, while LIC was projected to see a notable increase in its annual premium equivalent and value of new business on a yearly basis.
Maersk Q2 Results: Profit drops 45% to $833 million over disruptions in global supply chains
The Red Sea crisis has led to increased operating costs for Maersk, it said, necessitating rerouted shipping lanes that have impacted the company's overall profitability. Despite this, Maersk’s revenue for the quarter was $12,771 million, slightly down from $12,988 million reported a year earlier.
Signature Global Q1 Results: Realty firm posts Rs 7 cr profit against loss YoY
"Continuing with the momentum achieved in FY24, the company reported another stellar performance for the first quarter of FY25. Our operational performance is a testimony of our steadfast commitment to delivering quality products & services to our customers ensuring sustainable profitability and long-term value for all stakeholders," Pradeep Kumar Aggarwal, Chairman and WholeTime Director, said.
Godrej Consumer Q1 Results: Cons PAT jumps 41% YoY to Rs 451 crore, revenue rises 8%
The company said that consolidated net profit without exceptional items and one-offs grew by 14% year-on-year, while EBITDA grew by 13%. The home care category grew at 8% YoY, personal care at 6% yoy, the total branded category at 7% yoy, and the unbranded and exports category at 121% yo-y. The total net sales increased by 9% y-o-y to Rs 2,140 crore.
Amara Raja Energy Q1 Results: Profit rises 26% YoY to Rs 249 crore
Amara Raja Energy & Mobility (ARE&M) has posted about 26 per cent rise in consolidated net profit at Rs 249.12 crore for June quarter FY25. It had reported a net profit of Rs 198.31 crore for April-June period of 2023-24, the company said in an exchange filing on Saturday.
Q1 Results Today: SBI among 41 companies to announce earnings on Saturday
State Bank of India, India's largest public sector bank, is expected to report a slight decrease in profits for the first quarter of 2024 due to increased provisions, despite a projected 10% growth in net interest income.
Hindustan Zinc Q1 Results: Cons PAT jumps 19% YoY to Rs 2,345 crore, revenue rises 11%
Hindustan Zinc Q1 Results: The company's revenue from operations for the period reached Rs 7,893 crore, marking an 11% increase from Rs 7,111 crore in the same period last year. The EBITDA for the June quarter rose by 18% year-on-year to Rs 3,946 crore, compared to Rs 3,347 crore a year ago. Margins improved by 257 basis points to 48.5%.
Sun Pharma Q1 Results: Net profit rises 40% YoY to Rs 2,836 crore, beats estimates
Sun Pharma Q1 Results: Sun Pharma reported a 40% increase in consolidated net profit to Rs 2,836 crore, surpassing estimates of Rs 2,638 crore. Revenue rose 6% YoY to Rs 12,653 crore. EBITDA grew 8% YoY to Rs 3,608 crore with margins at 28.5%. India formulation sales reached Rs 4,144 crore, up 16%, constituting 33.1% of total sales.
Tata Steel shares jump 2% after reporting 51% YoY jump in Q1 PAT
Tata Steel shares rose 2% on Thursday, reaching Rs 168.80 on the BSE, following a report of a consolidated PAT of Rs 960 crore for the June quarter. However, revenue declined 8% year-on-year to Rs 54,771 crore. The board approved a scheme of amalgamation with Rujuvalika Investments and their respective shareholders.
Freshworks reports 20% revenue growth in Q2 at $174 million
The Chennai-based firm also upped its revenue guidance. Freshworks has given a 2024 full-year guidance revenue of $707 -$713 million, which has gone up marginally by around 1-2% on the back of rising demand for the firm’s AI solutions.
Tata Consumer shares drop over 2% as Q1 results fail to impress. Should you invest?
Tata Consumer Products reported an 8% drop in profit after tax for the first quarter ended June 2024, falling to Rs 290 crore, below estimates. Shares fell 2.3%. Revenue from operations increased 16% year-on-year to Rs 4,352 crore. The drop in profit was attributed to higher exceptional items and lower returns from joint ventures and associates.
Castrol India Q2 Results: Net profit rises to Rs 232 crore on sustained demand
Engine oil maker Castrol India reported a 3.1% increase in second-quarter profit on Thursday as the continuing rise in vehicle sales boosted its mainstay business of automobile lubricants and helped offset the rise in costs.
IOC Q1 Results: Profit plummets 81% YoY to Rs 2,643 crore
Indian Oil Corp reported an 81% drop in standalone net profit to Rs 2,643 crore in Q1, down from Rs 13,750 crore a year ago. Revenue fell 2% YoY to Rs 2.15 lakh crore. EBITDA was Rs 8,636 crore with margins at 4.5%. Total expenses increased to Rs 2.13 lakh crore from Rs 2.03 lakh crore.
Varun Beverages Q2 Results: PAT jumps 26% YoY to Rs 1,262 crore, revenue up 28%
In Q2 CY2024, Varun Beverages reported a 32% increase in EBITDA to Rs 1,991 crore. Consolidated sales volume rose by 28.1% to 40.16 crore cases, up from 31.35 crore cases a year earlier, including 2.8 crore cases from BevCo. Approximately 46% of sales volumes were from low-sugar or no-sugar products.
Tata Consumer Q1 Preview: Revenue may grow 13% YoY; margins to expand
Tata Consumer Products saw a significant revenue boost in the first quarter, fueled by solid growth in the India foods segment and moderate performance in beverages. Profit estimates from analysts were mixed. Improved EBITDA margins are anticipated, while tea and coffee prices remain key factors. Various segments experienced mixed growth trends amid cost challenges.
L&T Q1 Results: Cons PAT jumps 12% YoY to Rs 2,786 cr, revenue rises 15%
L&T Q1 Results: Revenue from operations grew 15% YoY to Rs 55,120 crore, driven by strong performance in the projects and manufacturing (P&M) portfolio, supported by a substantial order book. In the first quarter, the company secured orders worth Rs 70,936 crore at the group level, showing an 8% year-on-year increase, thanks to robust ordering activity in the Middle East.
Bajaj Finance shares fall by over 2% as Q1 results fail to impress. Should you invest?
Bajaj Finance reports a 14% YoY increase in net profit but falls short of Street estimates. Brokerages have mixed views on the first quarter results, with concerns over credit costs and growth prospects.
Lower fuel cracks, tepid global demand and new refineries impacted Reliance's core O2C business: Mukesh Ambani
Reliance Industries' Q1 profit dropped to Rs 15,138 crore, a 5% year-on-year and 20% quarter-on-quarter decline from March's Rs 18,951 crore. The O2C segment experienced a 14.3% EBITDA fall due to lower fuel and petrochemical margins. Petrol margins decreased by 30%, depreciation was Rs 13,596 crore, and finance costs rose despite telecom and retail gains.
Q1 results today: Jio Financial, SpiceJet, HDFC Life among 36 companies announce earnings on Monday
HDFC Life, Jio Financial, HDFC AMC, Angel One, SpiceJet, and 36 other companies including Hatsun Agro, KBC Global, Kelton Tech, Modern Engineering, Monarch Networth Capital, Oasis Securities, Rajoo Engineers, Sheetal Cool Products, Tahmar Enterprises, Styrenix Performance will announce Q1FY25 earnings. Important aspects to watch include HDFC Life's APE and VNB estimates.
‘It’ designer Gaurav Gupta takes on counterfeiters, files 9 cases with Delhi High Court suing them for Rs 2 crore each
Designer Gaurav Gupta is taking a leading role in combating counterfeit luxury products in India. He has filed nine cases with the Delhi High Court against counterfeiters, seeking Rs 2 crore in damages from each and aiming for restraining orders. Gupta, whose designs have been worn by celebrities like Beyonce and Mindy Kaling, has seen three cases ruled in his favor, with interim injunctions in the other six.
Q1 results today: HCL Tech, IREDA among 14 companies announce earnings on Friday
TCS has started the first quarter earnings season with positive results, signaling an improved business environment. Today, HCL Tech, along with 13 other companies, will announce their earnings for the quarter ended June. Other notable companies reporting earnings include 5paisa Capital, Atharv Enterprises, Betala Global Securities, Gautam Gems, Golkonda Aluminum, Indo Cotspin, Infomedia Press, IREDA, and Oriental Hotels.
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