Earnings season has been mixed as economic slowdown impacted the revenue growth of the companies, however, an improvement was seen in operating performance (largely due to cost-cutting measures) and bottom-line (corporate tax benefits), said Ajit Mishra of Religare Broking.
The Sensex ended 202 points or 0.49 percent lower at 41,257.74, while the Nifty finished with a loss of 61 points or 0.50 percent at 12,113.45. With this, both extended their losses into the second consecutive session.
In sync with the benchmarks, BSE Mid-cap and Small-cap indices also ended lower by 0.79 percent and 0.40 percent, respectively.
For the week, Sensex and Nifty gained 0.3 percent and 0.1 percent, respectively.
"Earnings season has been mixed as economic slowdown impacted revenue growth of companies. However, an improvement was seen in operating performance (largely due to cost-cutting measures) and bottom-line (corporate tax benefits)," said Ajit Mishra, VP – Research at Religare Broking.
Here is a look at the top 10 companies that declared their December quarter (Q3) numbers this week:
IRCTC Q3 profits jump nearly 3-fold to Rs 206 crore
State-owned Indian Railway Catering & Tourism Corporation (IRCTC) on February 12 registered a healthy 179.66 percent (or 2.8-fold) year-on-year (YoY) growth in Q3FY20 profit, driven by all segments. Profit during the quarter stood at Rs 205.8 crore, up from Rs 73.59 crore in the same period last year. The sequential growth was 106.17 percent.
Revenue from operations grew by 64.59 percent YoY to Rs 715.98 crore in the quarter ended December 2019 and the same increased 39.5 percent sequentially, the company said in its BSE filing.
Operating numbers also remained strong with earnings before interest, tax, depreciation and amortisation (EBITDA) growing 168.74 percent YoY (up 86.53 quarter-on-quarter (QoQ)) to Rs 265.7 crore in Q3FY20.
ONGC reports 50% fall in profit in Q3
Oil and Natural Gas Corporation (ONGC) on February 14 posted a 49.75 percent YoY fall in standalone profit at Rs 4,151.63 crore for the quarter ended December 31. The state-run oil explorer had posted a profit of Rs 8,262.70 crore in the same period last year. A CNBC-TV18 poll had projected Q3 profit at Rs 5,551 crore.
EBITDA came at Rs 12,298.3 crore against CNBC-TV18's poll of Rs 12,734 crore, while EBITDA margin stood at 51.9 percent against CNBC-TV18's poll of 52 percent. The total income of the company fell 16 percent YoY to Rs 25,112.55 crore during the quarter under review.
Shree Cement posts Rs 311.83 cr profit for Q3
Shree Cement on February 14 reported a consolidated net profit at Rs 311.83 crore for the third quarter ended December 2019. The company had posted a net profit of Rs 329.83 crore in the October-December quarter a year ago, Shree Cement said in a BSE filing.
Its total income was at Rs 3,211.65 crore during the quarter under review. It was Rs 3,195.59 crore in the corresponding quarter. Its revenue from the cement segment was at Rs 3,115.22 crore as against Rs 2,918.51 crore in the year-ago period.
SAIL reports Rs 343 crore loss in December quarter
The country's largest steelmaker Steel Authority of India on February 14 reported Rs 343.57 crore consolidated net loss for the third quarter ended December 31, mainly on account of increased expenses. The company had a net profit of Rs 638.79 crore during the same quarter a year ago, the state-run firm said in a BSE filing.
During October-December 2019, the company's total income was Rs 16,714.87 crore as against Rs 15,906.68 crore in the year-ago quarter. Its total expenses were at Rs 17,312.64 crore, higher from Rs 14,937.13 crore in October-December 2018.
Vodafone Idea Q3 loss at Rs 6,453.2 crore
Vodafone Idea on February 13 reported a loss of Rs 6,453.2 crore for the December quarter of FY20 against a loss of Rs 5,004.6 crore posted in the corresponding quarter of the previous financial year. Revenue for the same quarter came at Rs 11,089.4 crore in Q3FY20, down 5.7 percent YoY, against Rs 11,764 crore in Q3FY19.
Revenue grew 2.3 percent QoQ, supported by strong growth in 4G additions, while average daily revenue (ADR) returned to growth after 14 quarters of decline, the company claimed. EBITDA for the quarter increased to Rs 3,420 crore, up 0.7 percent QoQ driven by higher revenue and incremental synergy realisations.
The average revenue per user (ARPU) came at Rs 109 against Rs 107 (QoQ) supported by an improved consumer mix. The subscriber base declined to 30.4 crore in Q3 from 31.1 crore in Q2FY20.
BPCL Q3 net trebles to Rs 2,051crore
State-owned Bharat Petroleum Corp (BPCL) on February 13 reported near trebling of net profit in the December quarter to Rs 2,051.43 crore. BPCL had posted a net profit of Rs 698.62 crore in October-December 2018, the company said in a regulatory filing.
Revenue from operation dropped to Rs 85,926.70 crore from Rs 89,324.86 crore a year ago on lower oil prices. BPCL said pre-tax profits from its mainstay oil refining and fuel market business jumped to Rs 2,246.88 crore in October-December 2019 from Rs 637.89 crore a year ago.
Ashok Leyland Q3 profit falls 93%
Ashok Leyland on February 12 has registered a massive 92.7 percent YoY fall in Q3FY20 standalone profit due to weak commercial vehicle demand. The earnings of the commercial vehicle maker disappointed the street on all parameters.
Profit fell sharply to Rs 27.7 crore in the quarter ended December 2019, from Rs 380.8 crore in the same period last year. Revenue from operations during the quarter declined 36.5 percent YoY to Rs 4,015.6 crore as volumes dropped 28.7 percent YoY.
Coal India Q3 net profit slips 14% to Rs 3,922 crore
Mining major Coal India on February 11 reported a 14-per cent YoY decline in consolidated net profit for the December quarter at Rs 3,921.8 crore. Net sales stood at Rs 21,566.41 crore during the quarter under review as against Rs 23,385.43 crore in the corresponding period a year ago, Coal India said in a release.
Total comprehensive income for October-December came in at Rs 3,669.68 crore compared with Rs 4,139.59 crore in the year-ago period. The company produced 147.50 million tonnes of raw coal in the three months ended December. Its output in the corresponding period a year ago was 155.97 million tonnes.
BHEL Q3 profit down 17% to Rs 162 crore
State-owned engineering firm BHEL on February 11 reported 17 per cent decline in consolidated net profit at Rs 161.81 crore for December quarter 2019, mainly due to lower revenue. The company's profit in the year-ago period stood at Rs 196.43 crore, a BSE filing said.
Total income in the third quarter of this fiscal declined to Rs 5,827.74 crore from Rs 7,563.51 crore in the year-ago period.
Apollo Hospitals posts consolidated Q3 net profit at Rs 89.95 crore
Apollo Hospitals Enterprise recorded a consolidated profit of Rs 89.95 crore during the quarter ending December 2019 as against Rs 49.87 crore during the corresponding period the previous year. Healthcare major said in a BSE filing that profits for the year ending December 2019 surged to Rs 222.20 crore from Rs 127.34 crore registered the same period last fiscal.
The consolidated total income for the quarter under review grew to Rs 2,921.40 crore from Rs 2,507.53 crore registered the same period a year ago. The consolidated total income ending December 31, 2019 rose to Rs 8,347.39 crore from Rs 7,137.62 crore registered the same period last financial year.
SpiceJet Q3 profit jumps 21%
SpiceJet has reported a 21 percent jump in its Q3FY20 consolidated net profit at Rs 77.9 crore against Rs 64.4 crore in the same quarter last fiscal. Revenue of the company was up 46.9 percent at Rs 3,656.3 crore against Rs 2,488.5 crore.
EBITDA and rent (EBITAR) stood at Rs 761.6 crore. Other income of the company was up at Rs 270.2 crore versus Rs 44 crore, YoY.
GVK Power Q3 loss narrows marginally to Rs 120 crore
GVK Power and Infrastructure reported marginal narrowing of consolidated loss at Rs 120.06 crore for the quarter ended December 2019. The company had posted a consolidated loss of Rs 122.61 crore in the year-ago period, GVK Power and Infrastructure said in a filing to BSE.The loss "for the year (is) attributable to owners of the company," the filing said. The consolidated revenue of the company during the October-December quarter increased to Rs 1,156.15 crore over Rs 1,109.28 crore in the year-ago period, the filing said.