Q1 Results FY2023: Several listed companies announced their April-June quarter results on Wednesday. Among them were Tata Consumer Products, Prestige Estates, Zydus Lifesciences and Pidilite Industries who declaed their Q1 results. Here are key highlights of the results.

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Tata Consumer Products Q1 results FY2023: profit up 38% to Rs 277 cr

Tata Consumer Products Ltd (TCPL) on Wednesday reported 38.2 per cent rise in consolidated net profit at Rs 276.72 crore for June quarter 2022-23.

The company had posted a net profit of Rs 200.24 crore for April-June period a year ago, said TCPL, earlier known as Tata Global Beverages Ltd, in a BSE filing.

Revenue from operations was up 10.58 per cent to Rs 3,326.83 crore during the quarter under review as against Rs 3,008.46 crore in the corresponding period last fiscal year.

Total expenses of the Tata Group FMCG arm were at Rs 2,958.72 crore as against Rs 2,696.19 crore.

Revenue from the Indian market in April-June was at Rs 2,145.20 crore as against Rs 1,971.76 crore in the year-ago period.

Its International Business contributed Rs 836.62 crore, up 9 per cent as against Rs 767.58 crore.

"We delivered double-digit revenue growth and improved profitability for the company despite a challenging macro environment and inflation impact in some of our categories," TCPL Managing Director & CEO Sunil D'Souza said.

The company recorded market share gains in both core categories of tea and salt in India, he added.

"In terms of profitability, we delivered an EBITDA margin expansion YoY, despite severe inflationary pressures in the salt business and significantly higher A&P," D'Souza added.

TCPL shares on Wednesday settled at Rs 790.25 apiece on BSE, up 0.25 per cent from the previous close.

Prestige Estates Q1 results FY2023: profit jumps to Rs 205 cr; Revenue up at Rs 2,011 cr

Realty firm Prestige Estates on Wednesday reported an over four-time jump in its consolidated net profit at Rs 204.9 crore for the quarter ended June on higher sales.

Its net profit stood at Rs 45.8 crore in the year-ago period.

The company's total income rose 42 per cent to Rs 2,011.8 crore in the April-June quarter from Rs 1,418 crore in the corresponding period of the previous year, according to a regulatory filing.

On operational front, the Bengaluru-based Prestige Estates registered sales of Rs 3,012.1 crore, up 310 per cent year-on-year.

"The sales is attributed to 3.63 million square feet of volume with an average realization of Rs 8,309 per square feet. Prestige Group sold a total of 2,564 units in the quarter, which amounts to 28 units sold per day," Prestige group said in a statement.

Total consolidated net debt stood at Rs 3,919 crore at the end of the June quarter.

During the June quarter, four projects were launched spanning 9.67 million square feet, while three projects totaling 0.78 million square feet were completed.

Irfan Razack, Chairman and Managing Director, Prestige Group said its newly launched projects in Mumbai have contributed to overall numbers.

"Overall, we are in a great position with a strong pipeline of new launches in the coming quarters, across various geographies and segments, which will continue to add to our strong sales performance and overall growth," Razack said.

Venkat K Narayana, Chief Executive Officer, Prestige Group said, "We are well positioned to yet again achieve another steady overall performance during the FY23, with the first quarter setting the right momentum."

In Mumbai alone, he said the company achieved almost 25 per cent of the first quarter of FY23 sales.

"We continue to thrive on our performance and have close to about 15 million square feet of new launches in the upcoming quarters this year. Multiple launches are planned in geographies outside of Bengaluru, such as Hyderabad, Mumbai, and Noida," Narayana said.

Prestige Group, one of the leading real estate developers in the country, has legacy of over three decades in real estate development.

It has a diversified business model across various segments -- residential, office, retail, hospitality, and services -- with operations in 12 major locations in India.

The group has completed 271 projects spanning developable area of 151 million square feet and has 48 ongoing projects across segments, with total developable area of 75 million square feet.

Further, 51 projects spanning 84 million square feet are under various planning stages.

The company operates more than 1,300 keys under its hospitality portfolio. The group also holds a land bank of over 375 acres, equal to an additional 27 mn square feet of development potential.

Zydus Lifesciences Q1 results FY2023: consolidated net profit falls to Rs 518 crore

Zydus Lifesciences on Wednesday reported a 13 per cent decline in consolidated net profit at Rs 518 crore for the first quarter ended June on account of lower sales in the domestic market.

The Gujarat-based firm had posted a net profit of Rs 597 crore in the April-June quarter of the last fiscal.

Revenue from operations however increased to Rs 4,073 crore in the June quarter as against Rs 4,002 crore in the year-ago period, Zydus Lifesciences said in a statement.

Registered revenues in the India market stood at Rs 1,817 crore in the first quarter, 6 per cent down year-on-year.

However, excluding sales of COVID related products, the business grew 12 per cent year-on-year.

"We are encouraged by our stable Q1 FY23 performance, particularly with the rebound in US business even as consumer wellness and emerging markets sustained growth momentum," Zydus Lifesciences Managing Director Sharvil Patel said.

India branded formulations business, adjusting for COVID impact delivered healthy growth, he added.
Shares of the company were trading 0.79 per cent up at Rs 363.45 apiece on the BSE.

Pidilite Industries Q1 results FY2023: profit up 64% to Rs 358 cr

Pidilite Industries on Wednesday reported 64.27 per cent rise in consolidated net profit at Rs 357.52 crore for June quarter 2022-23, led by growth in sales and volume.

The company which manufactures adhesives, sealants and construction chemicals had logged a profit of Rs 217.64 crore in April-June period a year ago.

Revenue from operations was up 60.11 per cent at Rs 3,101.11 crore during the quarter under review as against Rs 1,936.79 crore in the year-ago period, Pidilite Industries said in a regulatory filing.

"The current quarter recorded robust revenue growth, a combination of higher volumes and measured price increases," said an earning statement of Pidilite Industries.

However, it added that input costs remained elevated during the quarter and cost efficiency measures ensured PAT growth in line with revenue growth.

Total expenses were at Rs 2,641.98 crore as against Rs 1,655.45 crore.

Revenue from the 'Consumer & Bazaar' segment was up 63.9 per cent to Rs 2,435.84 crore in April-June as against Rs 1,486.24 crore in the corresponding quarter a year ago.

Revenue from the Business to Business segment was at Rs 721.95 crore as against Rs 482.02 crore in Q1/FY22.

"Consumer & Bazaar reported growth across all geographies and categories of adhesives, construction chemicals and DIY portfolio. Business to Business growth was strong across all verticals," it said.

Managing Director Bharat Puri said Pidilite Industries had a value and volume growths which is broad-based across businesses, categories and geographies.

While input costs have continued to be high during this quarter, EBITDA margins remained constant sequentially on account of calibrated pricing, increased sales and effective cost management actions, he said.

"While the near term remains challenging, we remain cautiously optimistic on the medium term given the recent softening of input prices led by lower oil prices, a good monsoon and continued good demand conditions in the housing and home improvement sector,? he added.

Shares of Pidilite Industries settled at Rs 2,637.45 apiece, down 0.47 per cent on BSE.