The first week of February 2022 between 31st Jan–05th Feb 2022, showed the quarterly results of many big Indian corporates like State Bank of India, Tata Steel, ITC, Titan Company, Adani Power, Indigo, Bank of India, Paytm, Thermax, Shree Cements, and more.
Here is the weekly wrap-up of the Q3 corporate result announcements.
SBI Q3 Results: Standalone net profit surges 62% to Rs 8,432 cr
The country’s largest lender State Bank of India (SBI) on Saturday reported a 62.27 percent jump in standalone net profit at Rs 8,432 crore for the quarter ended December 2021, helped by lower provisions.
This is the highest ever quarterly profit reported by the lender. SBI had posted a standalone net profit of Rs 5,196 crore in the same period of 2020–21.
ITC Q3 Results: Consolidated net profit rises 15% to Rs 4,118.8 crore
Diversified entity ITC Ltd on Thursday reported a 15 per cent increase in consolidated net profit to Rs 4,118.8 crore for the third quarter ended December 31, 2021, on the back of robust demand across business verticals.
The company had posted a consolidated net profit of Rs 3,587.2 crore in the corresponding period last fiscal, ITC Ltd said in a regulatory filing.
Its consolidated total income stood at Rs 18,787.72 crore as against Rs 14,670.17 crore in the year-ago quarter, it added.
Tata Steel Q3 Results: Consolidated net profit more than doubles to Rs 9,598 cr
Steel major Tata Steel on Friday said its consolidated net profit more than doubled to Rs 9,598.16 crore for the quarter ended December 2021, mainly on account of higher income.
In a regulatory filing, the company said it had clocked a net profit of Rs 4,010.94 crore in the year-ago period.
Total income during the October-December quarter also jumped to Rs 60,842.72 crore, from Rs 42,152.87 crore earlier.
Titan Company Q3 Results: Consolidated net profit soars 91%
Tata group’s jewellery and watches maker Titan Company Ltd on Thursday reported a 91 per cent jump in consolidated net profit at Rs 1,012 crore for the third quarter ended December 2021, driven by strong demand across its consumer businesses.
The company had posted a consolidated net profit of Rs 530 crore in the same period last fiscal, Titan said in a regulatory filing.
Consolidated total income during the quarter under review stood at Rs 10,094 crore, as compared to Rs 7,659 crore in the year-ago period.
InterGlobe Aviation (IndiGo) Q3 Results: PAT at Rs 130 crore
Fuelled by higher passenger revenues, the country’s largest airline IndiGo on Friday posted a profit after tax of Rs 129.8 crore in the three months ended December 2021 amid the pandemic clouds.
InterGlobe Aviation, the parent of IndiGo, had slipped into a loss of Rs 620.1 crore in the year-ago period.
Reflecting signs of slow recovery in the pandemic-hit airline industry, IndiGo’s revenue from operations jumped to Rs 9,294.8 crore in the latest December quarter compared to Rs 4,910 crore in the same period a year ago.
Total income surged 84.3 per cent on an annual basis to Rs 9,480.1 crore in the third quarter of the current fiscal year.
Paytm Q3 Results: Net loss widens to Rs 778.4 crore
Digital payments and financial services firm One97 Communications, which operates under Paytm brand, on Friday reported widening of consolidated loss to Rs 778.5 crore in the December 2021 quarter.
Paytm had registered a loss of Rs 535.5 crore in the same period a year ago, according to late night BSE filing by the company.
Its consolidated revenue from operations, however, increased by about 88 per cent to Rs 1,456 crore during the reported quarter from Rs 772 crore it posted in the December 2020 quarter.
Adani Power Q3 Results: Consolidated Net profit at Rs 218 cr
Adani Power on Thursday posted Rs 218.49 crore consolidated net profit for December quarter 2021–22.
The company incurred a loss of Rs 288.74 crore in the year-ago period, a BSE filing stated.
Total income stood at Rs 5,593.58 crore in the quarter. It was Rs 7,099.20 crore in the same period a year ago.
Bank of India Q3 Results: Net profit surges 90%
Bank of India (BoI) on Friday reported a 90 percent surge in net profit at Rs 1,027 crore for the third quarter ended December 2021 as the bad loans situation improved.
The state-owned bank had logged a net profit of Rs 540.72 crore in the year-ago period.
However, total income during the quarter was down at Rs 11,211.14 crore as against Rs 12,310.92 crore in the same period a year ago, BoI said in a regulatory filing.
Shree Cements Q3 Results: Consolidated net profit down 23.5%
Shree Cements Ltd on Friday reported a decline of 23.57 percent in its consolidated net profit at Rs 482.70 crore for the third quarter ended December 31, 2021.
It had reported a net profit of Rs 631.58 crore in the October-December quarter a year ago, Shree Cements said in a filing to the BSE.
Its revenue from operations was up 2.24 percent at Rs 3,637.11 crore during the quarter under review as against Rs 3,557.21 crore in the corresponding quarter last fiscal.
Lupin Q3 Results: Consolidated net profit up 24%
Drugmaker Lupin on Friday reported a 24.45 percent rise in its consolidated net profit at Rs 545.5 crore for the third quarter ended December 31.
The Mumbai-based drugmaker had reported a net profit of Rs 438.3 crore in the October-December quarter of the previous fiscal.
The company’s sales increased to Rs 4,087.5 crore in the third quarter, against Rs 3,917.3 crore in the same period of 2020–21, Lupin said in a statement.
Thermax Q3 Results: Consolidated net profit down 5% to Rs 79 cr
Energy and environment solutions provider Thermax on Friday reported a 5 percent dip in consolidated net profit at Rs 79 crore for December quarter 2021–22.
In the year-ago period, the profit stood at Rs 83 crore, a company statement said. Operating revenue was Rs 1,615 crore in the quarter as compared to Rs 1,411 crore in the year-ago period.
REC Q3 Results: Consolidated net profit up 23% at Rs 2,773 cr
State-owned REC Ltd on Friday posted a nearly 23 percent rise in consolidated net profit at Rs 2,773.44 crore for December quarter 2021–22 mainly on the back of higher revenues.
The company had logged a net profit of Rs 2,257.96 crore in the year-ago period, a BSE filing stated.
Total income rose to Rs 10,070.42 crore in the quarter from Rs 9,089.46 crore in the same period a year ago.
Eveready Industries Q3 Results: Consolidated net profit down 51%
Battery and flashlights maker Eveready Industries India Ltd on Friday reported 51.41 percent decline in consolidated net profit at Rs 23.71 crore for the third quarter ended December 31, 2021.
The company had clocked a net profit of Rs 48.80 crore in the year-ago period, Eveready Industries said in a regulatory filing.
Revenue from operations was down 4.22 per cent to Rs 325.88 crore during the quarter under review as against Rs 340.27 crore in the year-ago period.
Aditya Birla Fashion and Retail Q3 Results: Net profit jumps 237%
Aditya Birla Fashion and Retail Ltd on Friday reported an over three-fold jump in its net profit at Rs 196.80 crore for the third quarter ended December 2021 as it witnessed a sharp rise in consumer footfalls at stores.
The company had posted a net profit of Rs 58.44 in the year-ago quarter, Aditya Birla Fashion and Retail Ltd (ABFRL) said in a regulatory filing.
Its revenue from operations rose 43.87 per cent to Rs 2,987.10 crore during the quarter under review, against Rs 2,076.19 crore in the corresponding period of the previous fiscal.
Minda Corporation Q3 Results: Consolidated net profit grows 41%
Auto components maker Minda Corporation on Friday reported a 41 per cent growth in consolidated Profit After Tax (PAT) at Rs 69.9 crore for the December quarter on the back of exceptional gain of Rs 32.74 crore due to revaluation of its stake in Minda Stoneridge.
The company had posted a profit of Rs 49.50 crore in the third quarter of the financial year ended March 2021, according to a statement.
The consolidated operating revenue during the quarter declined marginally to Rs 738.3 crore as compared to Rs 739.8 crore in Q3 FY21.
Affle Q3 Results: Consolidated Net profit doubles to Rs 62 cr
Mobile advertising firm Affle (India) Ltd on Saturday reported doubling of consolidated net profit to Rs 62.1 crore for the third quarter ended December 31, 2021. The company had logged a profit after tax (PAT) of Rs 30.6 crore in the same quarter a year ago.
“This growth was broad-based coming from both CPCU (cost per converted use) business and Non-CPCU business, across India and international markets,” the company said in a statement.
Bank of Baroda Q3 Results: PAT doubles to Rs 2,197 cr; NII surges 14%
State-run Bank of Baroda’s (BoB) standalone profit after tax (PAT) doubled to Rs 2,197 crore in the quarter ended in December aided by healthy growth in net interest income (NII) and on lower provisions.
This compares with a standalone PAT of Rs 1,061 crore in the same quarter of the previous fiscal.
NII surged by 14.38 percent to Rs 8,552 crore in Q3FY22 as against Rs 7,477 crore in the same period of the previous fiscal. Fee income increased by 15.50 percent to Rs 1,557 crore from Rs 1,342 core. Net interest margins improved to 3.13 percent from 2.77 percent.
The gross non-performing asset (GNPA) ratio declined to 7.25 percent from 8.48 percent and net NPA reduced to 2.25 percent from 2.39 percent.
