PSU banking major Punjab National Bank reported loss of Rs 492.3 crore for Q3FY20 against a profit of Rs 246.50 crore in Q3FY19 while telecom major Bharti Airtel managed to trim its losses.
The Indian market consolidated after fierce four days of gain which pushed benchmark indices above crucial resistance levels. The S&P BSE Sensex reclaimed 41,000 while Nifty50 also climbed above Mount 12K.
Sensex fell 164 points to 41,141 while the Nifty closed 39 points lower at 12,098 on February 7. For the week, the Sensex rose 3.5 percent while the Nifty rallied 3.75 percent.
Experts are of the view the knee-jerk reaction was largely due to muted global cues and profit-taking at higher levels. The momentum should resume as long as Nifty holds above 12,000 levels. They feel that there could be a possibility of further downside if Nifty trades below 12,160 levels in the coming week as well.
Here's a look at the top 15 companies that declared results this week:
Punjab National Bank Q3 net loss at Rs 492.3 crore
Punjab National Bank on February 4 reported a standalone net loss of Rs 492.3 crore for Q3FY20 against a profit of Rs 246.50 crore in Q3FY19. The public-sector lender missed Street estimates by a wide margin. A CNBC-TV18 poll has estimated a profit of Rs 967.7 crore.
Net interest income (NII) came at Rs 4,355 crore against the CNBC-TV18 poll of Rs 4,684.2 crore. Total revenue, however, climbed 7.49 percent year-on-year (YoY) to Rs 15,967.49 crore against Rs 14,854.23 crore in Q3FY19.
Gross NPA came at Rs 76,809 against Rs 77,733.33 crore YoY, while net NPA stood at Rs 30,518.92 crore against Rs 35,675.12 crore YoY.
Titan Company Q3 profit rises 13%
Titan Company on February 4 reported a 12.9 percent YoY growth in Q3FY20 profit-driven by better-than-expected operating numbers and lower tax cost. However, the profitability was lower than the average of estimates of analysts polled by CNBC-TV18 which pegged profit at Rs 500 crore due to fall in other income and less than expected jewellery business.
The company's standalone profit increased to Rs 470 crore during the quarter, from Rs 416.2 crore in the same period last year, Titan said in its BSE filing.
Watches segment registered a 2.4 percent YoY decline in revenue, while the eyewear business grew by 2.9 percent in Q3 YoY. Other businesses of the company registered a growth of 32.6 percent in Q3 at Rs 49 crore.
Bharti Airtel Q3 Results: Telco cuts loss to Rs 1,035 crore
Telecom operator Bharti Airtel on February 4 reported a consolidated loss of Rs 1,035 crore for the quarter ended December 2019, impacted by an exceptional charge related to the license fee and spectrum usage. The company had registered a profit of Rs 86.2 crore in the corresponding period of previous fiscal and a loss of Rs 23,044.9 crore in the July-September quarter.
"The net exceptional charge of Rs 1,050 crore during the quarter ended December 2019 comprises of a charge on account of interest on the provision of license fee and spectrum usage charges recorded in the quarter ended September 2019 of Rs 1,048.1 crore," company said.
Hero MotoCorp Q3 profit rises 14.5% to Rs 880 crore
Hero MotoCorp on February 6 reported a 14.5 percent growth in its December quarter profit at Rs 880 crore, largely driven by a sharp fall in tax cost. The profit in October-December of 2018 stood at Rs 769.1 crore.
Revenue from operations fell 11 percent YoY to Rs 6,996.7 crore for the three months to December 2019, hit by a 14.3 percent decline in total sales volume, but offset by higher realisation of 2.8 percent.
At an operating level, earnings before interest, tax, depreciation and amortisation (EBITDA) dropped 6 percent to Rs 1,039 crore, but margin saw 80bps expansion YoY at 14.8 percent in December ended quarter due to lower raw material cost.
Bata India Q3 net profit up 15% to Rs 118.26 crore
Bata India on February 6 reported a 14.75 percent rise in its consolidated net profit to Rs 118.26 crore for the quarter ended December 2019 compared to Rs 103.05 crore in the year-ago period. Consolidated revenue from operations of the company stood at Rs 830.82 crore for the quarter under consideration against Rs 779.79 crore for the same period year ago, Bata India said in a filing to BSE.
"Despite market headwinds and a pan-India cross-sectoral drop in consumer spending, Bata managed stable growth in Q3 2019-2020, improving its margins and EBIDTA," Bata India CEO Sandeep Kataria said.
Aurobindo Pharma net marginally down at Rs 705 crore in Q3
Aurobindo Pharma on February 6 said its net profit for the quarter ended December 31, 2019 was marginally down by one per cent to Rs 705.3 crore against Rs 712.2 crore during the corresponding period last fiscal. According to a filing with the bourses, revenues from operations during the quarter under review was up by nearly 12 per cent to Rs 5,895 crore.
Commenting on the performance, N Govindarajan, Managing Director of the company said: "We continue to perform well across all our key geographies. We remain focused on strengthening our existing businesses and developing a differentiated and specialty driven product portfolio. We are committed to resolving all pending regulatory issues and continuously improve quality."
Britannia Industries Q3: Net profit jumps 23% YoY
Britannia Industries on February 7 reported a 23.26 percent YoY rise in its consolidated net profit to Rs 369.9 crore for the December quarter of the financial year 2020 against Rs 300.10 crore reported in the corresponding quarter of the previous financial year.
Total revenue from operations came at Rs 2,982.7 crore, up 4.95 percent YoY against Rs 2,842 crore. Revenue came below CNBC-TV18 estimates of Rs 3,033 crore.
Eicher Motors Q3 profit down at Rs 488.9 crore
Eicher Motors has posted 2.5 percent decline in its third-quarter standalone net profit at Rs 488.9 crore, which is below CNBC-TV18 estimates of Rs 500.3 crore. The company posted a profit of Rs 501.4 crore in the year-ago period. The company's revenue was up 0.7 percent at Rs 2,363.53 crore versus Rs 2,345.92 crore, YoY.
EBITDA slipped 14 percent at Rs 595.2 crore versus Rs 691.8 crore, while margin was down 430 bps at 25.2 percent versus 29.5 percent, YoY.
Sun Pharma Q3 profit falls 26% to Rs 913.5 crore
Drugmaker Sun Pharmaceutical Industries on February 6 registered a 26.44 percent YoY drop in consolidated profit, impacted by higher other expenses and lower forex gain with slow revenue growth. The bottom line for the quarter stood at Rs 913.52, a decline from Rs 1,241.85 crore in the same period last year. It was lower than Rs 1,058 crore estimated by a CNBC-TV18 poll of analysts.
Revenue from operations grew by 5.36 percent YoY to Rs 8,154.85 crore the December quarter, meeting street estimates.
EBITDA also fell 14.5 percent YoY to Rs 1,841.4 crore and margin contracted 520bps to 22.6 percent in Q3FY20, but was above estimates of Rs 1,725.1 crore and 21.1 percent.
Godrej Properties Q3 net profit up 9% at Rs 45.5 crore
Godrej Properties reported 9.2 percent jump in its December quarter (Q3FY20) consolidated net profit at Rs 45.5 crore against Rs 41.6 crore in December 2018. The company’s revenue was up 12.6 percent at Rs 383 crore against Rs 340.1 crore.
EBITDA was at Rs 42.3 crore against EBITDA loss of Rs 38.7 crore, while EBITDA margin stood at 11.1 percent.
DLF's Q3 net profit up 24% at Rs 414 crore
Realty major DLF on February 6 reported a 24 percent increase in consolidated net profit at Rs 414.01 crore for the quarter ended December despite fall in income. Its net profit stood at Rs 335.15 crore in the year-ago period.
Total income fell 36 percent to Rs 1,533.34 crore in the third quarter of 2019-20 from Rs 2,405.89 crore in the corresponding period previous year, DLF said in a regulatory filing.
Despite the fall in income, the company's net profit increased due to an exceptional gain of Rs 231 crore during the December quarter.
Lupin Q3 net loss widens to Rs 835 crore
Pharma firm Lupin on February 6 reported widening of its consolidated net loss to Rs 835 crore for the quarter ended December 2019 on account of exceptional items including impairment of Gavis portfolio. The company had posted a net loss of Rs 151.75 crore for the corresponding period of the previous fiscal, Lupin said in a filing to BSE. Consolidated sales of the company stood at Rs 3,716 crore for the quarter under consideration. It was Rs 3,821.19 crore for the same period a year ago.
"There are a lot of one-times in the numbers this quarter. The reported performance was significantly affected by exceptional events, including the impairment of the Gavis portfolio and our divestiture of Kyowa," Lupin MD Nilesh Gupta said.
HPCL net trebles on inventory gains
Hindustan Petroleum (HPCL) on February 5 reported trebling of net profit in December quarter as inventory gains made up for lower refinery margins. Net profit in October-December at Rs 747 crore was higher than the net profit of Rs 248 crore in the same period a year back, HPCL Chairman and Managing Director Mukesh K Surana told reporters here.
"In Q3 of the last fiscal, we had an inventory loss of Rs 3,465 crore. As compared, we made an inventory gain of Rs 343 crore," he said, adding the inventory gains were partly offset by lower exchange gains. HPCL had a foreign exchange gain of Rs 82 crore in the December quarter as compared to a forex gain of Rs 557 crore a year back, he said.