The third week of January 2022 showed the quarterly results of many big Indian corporates like Reliance Industries, Asian Paints, HUL, Bajaj Finance, Ultratech, SBI Life, and more. Here is the weekly wrap-up of the Q3 corporate result announcements.
Reliance posts best quarterly performance, Net profit at Rs 18,549 cr in Q3
Billionaire Mukesh Ambani’s Reliance Industries Ltd on Friday reported its best-ever quarterly performance in October-December 2021, helped by an uptick in two ‘Rs’ — refining and retail, a recent tariff hike accelerating growth at Jio, and a one-off gain from the sale of US shale gas business.
The oil-to-retail-to-telecom conglomerate’s consolidated net profit rose 35.6 percent sequentially and 41.5 percent over the year-ago period to Rs 18,549 crore in the quarter ended December 31, 2021, the firm said in a statement.
Consolidated revenue of the nation’s biggest company by market value rose 9.5 percent over the previous three months and 52.2 percent year-on-year to record Rs 209,823 crore.
HUL Q3 net up 18.68% to Rs 2,300 cr; Net sales up 10.25% at Rs 13,196 cr
FMCG major Hindustan Unilever Ltd on Thursday reported an 18.68 percent increase in consolidated net profit to Rs 2,300 crore for the third quarter ended December 2021.
The company had posted a net profit of Rs 1,938 crore in the October-December period of the previous fiscal.
Revenue from sales during the quarter under review stood at Rs 13,196 crore, up 10.25 percent, as against Rs 11,969 crore in the corresponding period a year ago, Hindustan Unilever Ltd (HUL) said in a regulatory filing.
HUL’s total expenses were at Rs 10,329 crore in Q3 FY2021–22 as against Rs 9,548 crore earlier.
Q3 Result of Asian Paints, net profit falls 18.5% due to inflation
Asian Paints Ltd on Thursday reported an 18.5 percent decline in consolidated net profit to Rs 1,031.29 crore for the third quarter ended December 2021 as inflationary trends in raw material prices continued to impact the company’s gross margins across businesses.
The company had posted a net profit of Rs 1,265.35 crore during the October-December quarter of the previous fiscal, Asian Paints said in a regulatory filing.
Its revenue from operations jumped 25.61 percent to Rs 8,527.24 crore during the quarter under review. The same stood at Rs 6,788.47 crore in the corresponding period of the previous fiscal.
Vodafone Idea Q3 Results — Loss widens to Rs 7,231 cr
Debt-ridden telecom operator Vodafone Idea on Friday reported widening of its consolidated loss to Rs 7,230.9 crore for the third quarter ended December 2021. The company had posted a loss of Rs 4,532.1 crore in the same period a year ago.
Consolidated revenue from operations declined by 10.8 percent to Rs 9,717.3 crore from Rs 10,894.1 crore in the year-ago period.
Bajaj Finserv Q3 Results — Consolidated profit after tax down 2.63%
Diversified financial services firm Bajaj Finserv Ltd (BFS) on Thursday reported a 2.63 percent decline in its consolidated profit after tax at Rs 1,256 crore in the quarter ended December 31, 2021.
In the year-ago period, the same stood at Rs 1,290 crore.
The company said under Ind AS, its insurance subsidiaries — Bajaj Allianz Life Insurance Ltd (BALIC) and Bajaj Allianz General Insurance Ltd (BAGIC) — have chosen to hold a large part of the equity securities portfolio at fair value through profit and loss account.
UltraTech Q3 profit up 7.9% at Rs 1,710.14 cr, net sales rise 5.9%
Aditya Birla group firm UltraTech Cement Ltd on Monday reported a 7.92 increase in its consolidated net profit to Rs 1,710.14 crore in the third quarter ended December 2021 as trade sales were impacted and overall cement demand remained subdued during the period.
The leading cement producer had posted a net profit of Rs 1,584.58 crore in the October-December quarter a year ago.
Revenue from operations rose by 5.89 percent to Rs 12,984.93 crore during the quarter under review compared to Rs 12,262 crore in the corresponding period of the last fiscal, the company said in a BSE filing.
Bajaj Finance Q3 profit rises 86% to Rs 2,125 cr
Bajaj Finance on Tuesday reported an 85.5 percent rise in consolidated net profit at Rs 2,125.29 crore for the third quarter of the current fiscal.
Net profit stood at Rs 1,145.98 crore in the year-ago period.
Total income increased to Rs 8,535.06 crore for the quarter under review from Rs 6,658.34 crore in the year-ago period, according to a regulatory filing.
SBI Life Q3 profit jumps 56% to Rs 364 crore
SBI Life Insurance on Friday reported a 56 percent rise in net profit at Rs 364 crore for the third quarter ended December. The private sector insurer’s profit stood at Rs 233 crore in the same quarter of the previous fiscal, according to a regulatory filing.
However, total income declined to Rs 20,458.31 crore in the quarter under review from Rs 26,551.90 crore in October-December 2020 period.
JSW Steel Q3 Results — Net profit rises 69% to Rs 4,516 cr; Output at 5.21 MT
JSW Steel on Friday posted a 69 percent jump in its consolidated net profit to Rs 4,516 crore for the quarter ended December, mainly on account of higher income.
The firm had clocked a net profit of Rs 2,669 crore in the year-ago period, it said in a regulatory filing.
Total income during the October-December quarter of the ongoing fiscal soared to Rs 38,225 crore from Rs 22,006 crore a year ago. The expenses were also higher at Rs 31,986 crore as against Rs 18,120 crore.
Bandhan Bank Q3 net rises 35.8% at Rs 858.9 crore
Net profit of MFI-turned-private lender Bandhan Bank increased 35.8 percent at Rs 858.9 crore during the third quarter of the current fiscal, registering a rise from Rs 632.6 crore in the similar previous period.
MD and CEO of Bandhan Bank, Chandra Sekhar Ghosh told reporters on the virtual mode on Friday that the quarter ending December has been a good one for the bank and growth has bounced back after the depressing first quarter of the current fiscal.
In the second quarter of the current fiscal, the bank reported a loss of Rs 3009 crore due to higher provisioning.
Upcoming Q3 Results Next Week
The corporate announcements for the q3 results in the upcoming week are Axis Bank, HDFC AMC, India Mart, Burger King, IIFL Securities, CIPLA, Federal Bank, Maruti Suzuki, Pidilite Industries, United Spirits, Colgate, and more.
Keep following Trade Brains News to stay updated with the latest company news and announcements.
