Q4 Results 2022; IOC, Dr Lal Path Labs, Bajaj Electricals, IRB Infra declare March quarter results; here are key highlights, dividend details
Q4 Results 2022: State-run IOC announced its March quarter results on Tuesday. Othet listed companies including Dr Lal Path Labs, Bajaj Electricals and IRB Infra were also among the companies which declared their January to March quarter earnings
Q4 Results 2022: State-run Indian Oil Corporation (IOC) announced its March quarter results on Tuesday. Other listed companies including Dr Lal Path Labs, Bajaj Electricals and IRB Infra were also among the companies which declared their January to March quarter earnings. Here are key highlights of the results.
IOC Q4 Results 2022: net drops 31.4% in Q4; record profit in FY22
State-run Indian Oil Corporation (IOC) reported a 31.4 per cent drop in the fourth quarter net profit on Tuesday. The drop is attributed to a margin squeeze in petrochemicals and losses on auto fuel sales, a PTI report said.
Standalone net profit of Rs 6,021.88 crore, or Rs 6.56 a share, in January-March, compared with Rs 8,781.30 crore, or Rs 9.56 per share, in the same period a year back, the company said in a stock exchange filing.
Avendus says OMC stocks’ gains of up to 100% in four months not sustainable, downgrades IOC to ‘sell’
Sequentially, the profit was higher than Rs 5,860.80 crore in the previous quarter.
With oil prices surging, revenue from operations rose to Rs 2.06 lakh crore in the final quarter of this fiscal year ending March 31 from Rs 1.63 lakh crore a year back.
IOC and other public sector oil companies held petrol and diesel prices for a record duration despite a surge in the cost of raw materials (crude oil). They started raising prices only on March 22.
Pre-tax earnings from the sale of petroleum products fell 8 per cent to Rs 8,251.29 crore while the same from the petrochemicals business was down 72 per cent to Rs 570.18 crore.
The Board of the company recommended the issue of bonus shares in the ratio of 1:2 -- one new bonus equity share of Rs 10 each for every two existing equity shares.
It also declared a final dividend of Rs 3.60 per equity share (pre-bonus), which translates into a final dividend of Rs 2.40 per equity post-bonus for the financial year 2021-22.
The final dividend is in addition to the interim dividend of Rs 9.00 per share (pre-bonus) paid earlier.
For the full fiscal (April 2021 to March 2022), the company posted a record Rs 30,443.93 crore net profit, an increase of 15 per cent over the previous financial year.
The surge came on the back of a rise in refining margins. The firm earned USD 11.22 on turning every barrel of crude oil into fuel in the fiscal as compared to a gross refining margin of USD 5.64 in the previous year.
The core GRM or the current price GRM for the year 2021-22 after offsetting inventory gains came to USD 7.61 per barrel, it said.
Shares of IOC today ended at Rs 124.30 on the NSE, and were up nearly 2 per cent from the Monday closing price.
Dr Lal Pathlabs Q4 results 2022: net profit dips 27% at Rs 62 cr
Dr Lal Pathlabs on Tuesday said its consolidated net profit declined 27 per cent to Rs 62 crore in the fourth quarter ended March 31, 2022.
The company had reported a net profit of Rs 85 crore for January-March period a year ago.
Revenue from operations however rose to Rs 485 crore in the fourth quarter as against Rs 431 crore in the year-ago period, Dr Lal Pathlabs said in a statement.
For the year ended March 31, 2022, the company posted a consolidated net profit of Rs 350 crore as compared with Rs 296 crore in 2020-21.
Revenue from operations rose to Rs 2,087 crore as against Rs 1,581 crore in 2020-21.
The company said it board approved a final dividend of Rs 6 per share on face value of Rs 10 each for the year ended March 31, 2022.
Dr Lal Pathlabs shares ended ar Rs 2185 on the NSE, and were down nearly 1 per cent.
Bajaj Electricals Q4 results 2022: profit down 29% at Rs 39 cr
Bajaj Electricals on Tuesday reported 28.73 per cent decline in consolidated net profit at Rs 38.67 crore for the fourth quarter ended March 2022.
The company had posted a net profit of Rs 54.26 crore for March quarter of the previous fiscal year, Bajaj Electricals said in a regulatory filing.
However, total revenue from operations was up 6.02 per cent at Rs 1,334.32 crore during the quarter under review as against Rs 1,258.47 crore in the year-ago period.
Total expenses were at Rs 1,299.61 crore in March quarter 2021-22 as compared to Rs 1,214.47 crore in the year-ago period.
Revenue from consumer products was at Rs 1,037.69 crore as against Rs 975.18 crore.
Revenue from EPC (Engineering Procurement & Construction) was at Rs 296.50 crore as against Rs 283.17 crore.
Bajaj Electricals Executive Director Anuj Poddar said it was a challenging quarter primarily because of the commodity cost pressure.
"We had a certain contraction in our margins but the good news is that we have maintained growth in our consumer business. This is the third consecutive quarter when we have clocked Rs 1,000 crore plus sales in the consumer business," Poddar told PTI.
In some categories, such as fan and lighting, Bajaj Electricals has grown by over 20 per cent and 30 per cent in January-March.
"Our EPC business has done break even in Q4, which is important," he said.
Moreover, the company has also become "net-debt free" after almost two decades, Poddar added.
For the fiscal year ended March 2022, Bajaj Electricals' consolidated net profit was down 34.16 per cent at Rs 124.41 crore. It had logged a net profit of Rs 188.96 crore in 2020-21.
Revenue from operations was at Rs 4,727.69 crore in 2021-22. This was 3.97 per cent higher than Rs 4,546.90 crore in the previous year.
Shares of Bajaj Electricals settled at Rs 988.85 apiece on Tuesday, up 8.24 per cent from previous close.
IRB Infra Q4 results 2022: profit zooms 79% to Rs 175 cr
IRB Infrastructure Developers Ltd on Tuesday reported a 79.04 per cent jump in its consolidated net profit to Rs 175 crore for the fourth quarter ended in March 2022.
The company had clocked a net profit of Rs 97.45 crore during the year-ago quarter, IRB Infrastructure Developers said in a BSE filing.
Its total income during the January-March 2022 quarter rose to Rs 1,682.72 crore from Rs 1,650.40 crore in the year-ago period.
The firm's expenses stood at Rs 1,379.90 crore, as compared to Rs 1,474.27 crore a year ago.
The company in a statement said that the financial numbers and toll collection numbers are clear indication of the economic activity regaining pace across the nation, post relaxation from the lockdown imposed as a result of COVID-19 pandemic.
IRB Infrastructure Developers Ltd Chairman and Managing Director Virendra D Mhaiskar said, "We witnessed a robust growth in collections across projects as the pandemic related restrictions were relaxed and farmer's protest was called off."
"We are back to growth trajectory and will be following our best strategy to unlock value on a regular basis to realise returns for our shareholders," he added.
IRB Infrastructure shares today ended in the green on the NSE. They were trading at Rs 217.60 at the closing time and were up nearly 2 per cent from the Monday closing price.