DLF Q1 results live: Net profit jumps 23% to Rs 646 crore

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DLF on July 25 reported a 22.5 percent jump in net profit at Rs 645.61 crore in the first quarter of FY25 compared to Rs 527 crore posted in the corresponding period of previous financial year, the real estate major said in an exchange filing.

In the March quarter, the company reported a net profit of Rs 920.71 crore.

The firm’s revenue was down 4.3 percent to Rs 1,362.4 crore in the quarter under review over Rs 1,423.23 crore reported in the year-ago period. In the previous quarter, the revenue stood at Rs 2,134.84 crore, according to the exchange filing.

--AU Small Finance Bank reported 29.9 percent on-year rise in its net profit to Rs 502.57crore in the first quarter of the current financial year.

--On sequential basis, net profit of the bank increased 35.5 percent.

--Gross non-performing assets (NPA) ratio stood at 1.78 percent as on June 30, as compared to 1.67 percent as on March 31, and 1.76 percent as on June 30, 2023.

--Net NPA ratio of the bank stood at 0.63 percent in June quarter, as against 0.55 percent each in a quarter ago as well as year ago period.

--The company's headcount went up by 2,165 sequentially and it was down by 677 YoY. Total headcount stood at 147,620.

--Attrition remained flat sequentially at 10 percent.

Mohit Joshi, Chief Executive Officer and Managing Director, said, "It is encouraging to see positive momentum in most industry verticals which has led to revenue growth and margin expansion in an otherwise seasonally weak quarter. We continue to focus on execution and are on track to achieve our stated goals for FY27."

Rohit Anand, Chief Financial Officer, added, "The Q1 results are a positive start both for current turnaround year as well as for our medium-term strategy. As we mentioned in our strategic priorities, our focus continues to be on investing in the business for long-term sustainable performance."

The company’s EBIT margin or operating margin came in at 8.5 percent, which is an improvement 110 bps from the previous quarter’s 7.4 percent. This was above Moneycontrol’s estimate of 8 percent.

Deal total contract value (TCV) for Q1 stood at $534 million, an increase from $500 million in the previous quarter.

IT services company Tech Mahindra reported 23% year-on-year (YoY) growth in its consolidated net profit at Rs 851 crore in the June quarter.

Revenue from operations was down 1% YoY to Rs 13,005 crore in the April-June 2024 period.

The IT services major’s fiscal first quarter results met street expectations. A Moneycontrol poll of 10 brokerages pegged Tech Mahindra’s Q1 net profit to swell to Rs 861 crore, mainly due to an exceptionally lower base in the previous quarter. Revenue was projected to marginally rise to Rs 12,968 crore.

Tech Mahindra’s earnings during the quarter were likely driven by portfolio shifts, volume growth, and cost management.

Adani Energy Solutions (earlier Adani Transmission) reported a consolidated loss (attributable to owners) of Rs 823.92 crore for the quarter ending June 2024, compared to profit of Rs 175 crore in the year-ago period.

Revenue from operations for the reporting period for Adani Energy Solutions grew to Rs 5,378.6 core crore comapred to Rs 3,663.91 crore, in the same quarter last year.

Adani Green Energy on July 25 reported a 94.7 percent jump in net profit at Rs 629 crore in the first quarter of FY25, compared to Rs 323 crore in the corresponding period of previous financial year, the company said in an exchange filing.

In the March quarter, the company posted a net profit of Rs 310 crore.

PNB Housing Finance on July 25 reported a 25 percent increase in net profit at Rs 432.81 crore in the first quarter of FY25, compared to Rs 347.32 crore in the corresponding period of previous financial year, the company said in an exchange filing.

In the March quarter, the bank had posted a net profit of Rs 439.25 crore.

The housing finance company's revenue rose 6.7 percent to Rs 1,823 crore in the quarter under review against Rs 1,708 crore in the year-ago period.

The shares of PNB Housing Finance were trading 1.3 percent higher at Rs 786.05 on NSE at 15:02 pm.

--Net profit up 11.5%at Rs 152.3 cr vs Rs 137.4 cr (YoY)

--Revenue up 16.4%at Rs 2,070.5 cr vs Rs 1,778.1 cr (YoY)

--EBITDA up 13%at Rs 241 cr vs Rs 214 cr (YoY)

--Margin at 11.6% vs 12% (YoY)

Ujjivan Small Finance Bank Ltd.'s net profit fell 7% year-on-year to Rs 301.08 crore.

Net interest income, or core income, for the lender rose 19% year-on-year to Rs 942 crore. Other income increased 11.1% to Rs 197 crore on a yearly basis.

Asset quality for the lender worsened with gross non-performing asset ratio rising 29 basis points quarter-on-quarter to 0.29%. Net NPA ratio too worsened to 0.41%, compared to 0.28% in the previous quarter.

Provisions for the quarter rose more than 4 times, up 320% year-on-year to Rs 109.8 crore.

Operating expenses were up 22.8% year-on-year to Rs 629.03 crore. Here, employee costs rose 26.7% year-on-year to Rs 340.25 crore and other opex rose 18.5% to Rs 288.7 crore.

State-owned lender Canara Bank on July 25 reported a 10.5 percent on-year rise in net profit at Rs 3,905.28 crore in the first quarter of the current financial year.

Sequentially, net profit was up 4 percent.

Gross non-performing asset (NPA) ratio of the bank stood at 4.14 percent in the June quarter against 4.23 percent in the previous quarter and 5.15 percent in the year-ago period.

Net NPA ratio of the lender declined to 1.24 percent from 1.27 percent in the March quarter and 1.57 percent in the Q1FY24.

Shares of Canara Bank were trading in green at Rs 113.15 apiece on BSE around 13:55 hours.

Dheeraj Hinduja, chairman, Ashok Leyland, said “I am happy to note that the industry continues to maintain the growth momentum, contrary to the expectations at the start of this year. Q1 Industry volumes were at comparable levels of the previous peak of Q1 FY19. Ashok Leyland’s Q1 performance has beaten all expectations, we have been able to post excellent results with focused market performance while reining in costs. Through our Electric Vehicle subsidiary, Switch Mobility, we are geared to participate in the growing EV market with a clear road map. The launch of IeV3 this month, second e-LCV launch by Switch, will further strengthen our position in this market.”

--Net profit falls 9% to Rs 525.5 crore in June quarter as against Rs 576.42 crore from year-ago period.

--Revenue from operations rises 5% to Rs 8,598 crore.

Shares of Jyothi Labs were trading 7.23 percent higher at Rs 544.70 apiece on BSE at noon after the company posted 6% jump in net profit.

Jyothy Labs Limited on July 25 posted a 5.7 percent jump in net profit at Rs 101.7 crore in the first quarter of FY25, compared to Rs 96.3 crore in the year-ago period, the FMCG firm said in an exchange filing.

In terms of revenue, the company reported a 8 percent increase at Rs 742 crore in the quarter under review over Rs 660 crore in the corresponding year of the previous financial year.

--Continued to accelerate, with strong growth in quick commerce, driven by brands such as KITKAT, NESCAFÉ, MAGGI Masala-ae-Magic, MILKMAID and RTD.

--E-commerce sustained its upward trajectory, contributing to 7.5% of domestic sales and growing at double digit.

--Cereals and grains are going through a structural cost increase backed by MSP.

Commodity prices are seeing unprecedented headwinds in coffee and cocoa with all time high prices and an ongoing price rally. Cereals and grains are going through a structural cost increase backed by MSP. There is relative stability in milk prices, packaging and edible oils.

--Total Sales of Rs 4793.0 crore

--Total Sales Growth at 3.8%. Domestic Sales Growth at 4.2%.

--Profit from Operations at 21.3% of Sales

--Net Profit of Rs 746.6 crore

--Earnings Per Share of Rs 7.74

--Interim Dividend Rs 2.75 per equity share declared on 8th July 2024

Nestle India declared interim dividend of Rs 2.75 per equity share declared on 8 July

Chairman and managing director Suresh Narayanan: During the period, we have successfully added over 800 new distribution touchpoints that includes cash distributors, re-distributors and wholesale hubs. Moreover, this quarter our village coverage has increased by 5,000 taking it to around 2,05,000 villages.

E-commerce sustained its upward trajectory, contributing to 7.5 percent of domestic sales and growing at double digit. The out-of-home business continued its growth momentum despite unprecedented headwinds of extreme weather conditions across India, said chairman and managing director Suresh Narayanan.

Suresh Narayanan, chairman and managing director, Nestlé India, on the earnings: “I am pleased to share that despite external challenges such as lower consumption growth, concerns on continued food inflation and volatile commodity prices, we have delivered growth across our product groups. Almost a fourth of our growth has been mix and volume led, and we hope to strengthen this trend in the coming months. I am happy to inform you that 5 of our top 12 brands grew double-digit."

Nestle India's commodity outlook: Commodity prices are seeing unprecedented headwinds in coffee and cocoa with all-time high prices and an ongoing price rally. Cereals and grains are going through a structural cost increase backed by MSP. There is relative stability in milk prices, packaging and edible oils.

Nestle India's on July 25 reported a 6.9 percent jump in net profit at Rs 746.6 crore for Q1 FY25 compared to Rs 698.3 crore in the corresponding quarter of the previous year.

This missed estimates. According to a Moneycontrol poll of eight brokerages, the Maggi-maker was expected to report a net profit of Rs 798 crore.

The revenue from operations for Q1 FY25 came in at Rs 4814 crore, compared to Rs 4,659 crore YoY.

Jyothy Labs Limited on July 25 posted a 5.7 percent jump in net profit at Rs 101.7 crore in the first quarter of FY25, compared to Rs 96.3 crore in the year-ago period, the FMCG firm said in an exchange filing.

In the March quarter, the firm had reported a net profit of Rs 78.16 crore, according to the filing.

In terms of revenue, the company reported a 8 percent increase at Rs 742 crore in the quarter under review over Rs 660 crore in the corresponding year of the previous financial year.

Tech Mahindra is set to report its Q1FY25 earnings on July 25 and analysts have predicted a sequential uptick in both net profit and revenue of the IT company, driven by portfolio shifts, volume growth, and cost management. Read more

Nestle India is set to post its earnings for the first quarter of the current fiscal year on July 25. The deflation in certain commodities, coupled with price hikes and improved operating leverage shall support the staples giant’s margins and bottomline. Read more