Q3 Results HIGHLIGHTS: Tata Communications, Polycab, Home First, several other firms report earnings
Q3 FY24 Results HIGHLIGHTS: More than 40 companies, including Tata Communications, Home First, Poonawalla Fincorp, Polycab, Metro Brands, and Sterling and Wilson Renewable Energy, reported their Q3 FY24 earnings on January 18. Catch all the highlights here as the earnings season gathers steam on Dalal Street.
Q3 FY24 Results Season HIGHLIGHTS, Q3 FY24 Earnings: More than 40 companies, including Tata Communications, Home First, Poonawalla Fincorp, Metro Brands, Polycab India, and Sterling and Wilson Renewable Energy, reported their Q3 FY24 earnings on January 18.
Catch all the latest updates here, as the earnings season gathers steam on Dalal Street:
Latest Updates
Q3 Results LIVE Update: Tata Communications surpasses Rs 5,000 crore quarterly revenue mark
“We are pleased to report another quarter of robust growth as data revenue crossed the Rs 4,000 crore mark with digital services contributing 45 per cent, in line with our strategy. Even as we increase our impetus on people and platforms to deliver long-term value, our acquisitions of Oasis, The Switch and Kaleyra have created new avenues for growth and innovation. We remain confident about our medium-term ambitions," says AS Lakshminarayanan, MD and CEO, Tata Communications.
The company's India enterprise revenue grows 10.4 per cent on a year-on-year basis, according to a statement.
Q3 Results LIVE Update: Tata Communications EBITDA rises 11.6% vs Q2
The company reports Rs 1,134 crore in earnings before interest, taxes, depreciation and amortisation (EBITDA) for the quarter, as against Rs 1,016 crore for the previous three months.
According to Zee Business research, the company's EBITDA for the third quarter of FY24 was estimated at Rs 988 crore.
Q3 Results LIVE Update: IndiaMART InterMESH shares fall nearly 5% after earnings announcement
IndiaMART InterMESH shares finish the day weaker by Rs 128.1, or 4.9 per cent, at Rs 2,472.1 apiece on BSE.
Q3 Results LIVE Update: IndiaMART InterMESH quarterly profit at Rs 81.9 crore vs Rs 112.8 crore a year ago
The company's revenue stands at Rs 305.3 crore for the fiscal third quarter, an increase of 21.4 per cent on a year-on-year basis, according to a regulatory filing.
Q3 Results LIVE Update: Polycab India net profit rises 15% to Rs 416.5 crore, revenue up 17% on strong growth in wires & cables volumes
Polycab India registers revenue of Rs 4,340.5 crore for the quarter ended December, up 16.8 per cent on a year-on-year basis led by strong volume growth in its wires and cables unit.
Its net profit rises 15.4 per cent to Rs 416.5 crore, according to a regulatory filing.
Here are some other key points:
- Contraction of 15% in FMEG business mainly due to sustained weakness in consumer demand
- Fans business grows sequentially but shrinks on a year-on-year basis due to a higher base the previous year
- Lights segment continues to decline owing to pricing erosion
- Switches and switch-gears unit sees robust year-on-year growth
Polycab shares ended 0.2 per cent lower at Rs 4,431 apiece on BSE ahead of the earnings announcement.
Q3 Results LIVE Update: Home First Finance net profit at Rs 78.8 crore
Home First Finance Company reports a net profit of Rs 78.8 crore for the October-December period, as against a net profit of Rs 58.7 crore for the year-ago quarter.
Its revenue from operations grows 44.3 per cent to Rs 296.3 crore for the fiscal third quarter of FY24.
Earlier in the day, the NBFC stock rose 3.1 per cent to end at Rs 995.5 apiece on BSE.
Q3 Results LIVE Update: South Indian Bank shares jump after quarterly net profit grows almost three times
The stock finishes 8.6 per cent stronger at Rs 30.8 apiece on BSE after the earnings announcement.
Image: BSEIndia.com
The private sector lender says its nine-month net profit stands at a record Rs 782.5 crore.
Q3 Results LIVE Update: South Indian Bank net profit almost triples to Rs 305.4 crore
The lender reports a net profit of Rs 305.4 crore for the fiscal third quarter as against Rs 102.8 crore for the corresponding period a year ago.
Q3 Results LIVE Update: Tata Communications margin shrinks by 70 basis points sequentially
The Tata group company's margin, a key measure of profitability, comes in at 20.1 per cent for the December quarter as against 20.8 per cent for the previous three months.
However, the company's quarterly margin is better than analysts' estimates.
According to Zee Business research, Tata Communications (TATACOMM) was estimated to register a margin of 17.8 per cent for the fiscal third quarter.
Q3 Results LIVE Update: Tata Communications consolidated net profit at Rs 45 crore
The Tata group company registers a consolidated net profit of Rs 45 crore for the quarter ended December, taking into account an exceptional item of Rs 185 crore. Its profit before exceptional items, tax and share in associates' profit comes in at Rs 339.3 crore.
According to Zee Business research, Tata Communications (TATACOMM) was estimated to post a net profit of Rs 120 crore for the three-month period.
Q3 Results LIVE Update: Poonawalla Fincorp (POONAWALLA) shares inch higher, recover intraday losses
The NBFC stock is up 0.3 per cent at Rs 485.2 apiece on BSE, iin a bounceback from the red after falling to as low as Rs 465 in intraday trade.
The company is scheduled to report its quarterly numbers today.
Q3 Results LIVE Update: Mastek shares down 1% amid volatility as investors await earnings today
The stock of Masket Ltd, an enterprise digital and cloud transformation company, is down 0.9 per cent at Rs 2,901.1 apiece on BSE, having see-sawed between gains and losses, in the range of Rs 2,878.7 and Rs 3,066.1, earlier in the day.Q3 Results LIVE Update: As investors await Tata Communications Q3 FY24 earnings due today, here is how the Tata group firm fared in July-September
Here's a breakup of Tata Communications' revenue from its data and voice units:
- Data revenue grew nearly two per cent to Rs 4,007 crore on a quarter-on-quarter basis
- Voice revenue increased 2.6 per cent to Rs 429 crore
The company said it remains confident of long-term opportunities and would continue to invest in its product portfolio.
Zee Business analysts had pegged the company's data revenue at Rs 4,011 crore and voice revenue at Rs 418 crore.
Q3 Results LIVE Update: As investors await Tata Communications Q3 earnings due today, here is how the Tata group company fared in previous quarter
Here's a summary of Tata Communications' Q2 FY24 earnings (consolidated):
- Revenue: Rs 4,873 crore
- EBITDA: Rs 1,016 crore
- Margin: 20.8 per cent
- Net profit: Rs 221 crore; other income: Rs 25.5 crore
According to Zee Business research, the Tata group company's Q2 profit was estimated at Rs 296 crore, revenue at Rs 4,843 crore, EBITDA at Rs 1,017 crore and margin at 21 per cent.
Q3 Results LIVE Update: As investors await Tata Communications Q3 earnings due today, here is how the Tata group company fared in Q2 FY24 (July-September)
Tata Communications registered Rs 1,016 crore in earnings before interest, taxes, depreciation and amortisation (EBITDA) for the quarter ended September 2023, a sequential decline of 0.8 per cent.
Its margin, a key measure of profitability, contracted by 70 basis points on a quarter-on-quarter basis to 20.8 per cent.
staged a mixed financial performance in the quarter ended September 2023.
Its consolidated net profit declined 42.1 per cent on a quarter-on-quarter basis to Rs 221 crore, owing to a fall in other income, while revenue increased 2.1 per cent to Rs 4,873 crore for the July-September period, according to a regulatory filing.
Q3 Results LIVE Update: As investors await Tata Communications Q3 earnings due today, here is how the Tata group company fared in Q2 FY24 (July-September)
Tata Communications staged a mixed financial performance in the quarter ended September 2023.
Its consolidated net profit declined 42.1 per cent on a quarter-on-quarter basis to Rs 221 crore, owing to a fall in other income, while revenue increased 2.1 per cent to Rs 4,873 crore for the July-September period, according to a regulatory filing.
Q3 Results LIVE Update: Polycab India shares recover much of intraday losses ahead of earnings announcement
Polycab India shares recover nearly all of their intraday losses to trade 0.3 per cent weaker for the day at Rs 4,428 apiece on BSE at this hour, having plummeted by as much as Rs 444, or 10 per cent, to Rs 3,996.1 earlier in the day.Q3 Results LIVE Update | Tata Communications shares rise ahead of earnings announcement today
Tata Communications (TATACOMM) shares rise by as much as Rs 43.3, or 2.5 per cent, to Rs 1,740.1 apiece on BSE, bucking the overall weak trend on Dalal Street today.
Image: BSEIndia.com
Q3 FY24 Results LIVE: Tata Communications scheduled to report earnings today; here is what you can expect
According to ICICI Direct, Tata Communications is expected to report a consolidated net profit of Rs 120 crore for the October-December period, translating into a quarter-on-quarter fall of 45.7 per cent.
The brokerage estimates the Tata group company's revenue for the fiscal third quarter at Rs 5,543 crore, as against Rs 4,872 crore for the previous three months.
It pegs the company's margin at 17.8 per cent, a slide of 300 bps compared with the July-September period.
Q3 Results LIVE Update | Policab India set to report earnings today; here is what investors can expect
Cables and wires manufacturer Polycab India is likely to report a 13 per cent year-on-year increase in consolidated net profit to Rs 407 crore with about 16 per cent growth in revenue to Rs 4,323 crore for the quarter ended December 31, according to Zee Business research.
Zee Business analysts peg Polycab's margin for the fiscal third quarter to remain steady at 14 per cent, the same level as the year-ago period.
Investors will closely track any update on the company's capacity addition plans and new launches in the FMEG space.
Q3 Results Update: Asian Paints, LTIMindtree, ICICI Prudential, OFSS, Happiest Minds reported their financial results on Wednesday
ICICI Prudential
ICICI Prudential staged a strong financial performance with a 4.9 per cent increase in standalone net premium income to Rs 9,929 crore, better than Zee Business analysts' estimates of Rs 9,785 crore. The insurer's net profit increased 2.7 per cent to Rs 227 crore and assets under management grew 13.9 per cent to Rs 2.86 lakh crore, as against the analysts' estimate of Rs 2.82 lakh crore. Read more on ICICI Prudential results
LTIMindtree
The IT major reported a 0.6 per cent increased in consolidated net profit to Rs 1,169 crore over 1.3 per cent growth in revenue to Rs 9,017 crore for the December quarter sequentially, as against the Zee Business estimates of Rs 1,185 crore and Rs 9,045 crore. Read more on LTIMindtree results
Happiest Minds
Happiest Minds staged a mixed performance, with a 1.9 per cent sequential rise in consolidated net profit to Rs 59.6 crore with 0.8 per cent growth in revenue to Rs 410 crore for the October-December period.
Its margin, however, slipped by 60 bps to 16.1 per cent sequentially.
Q3 FY24 Results LIVE Updates: More than 40 companies scheduled to report quarterly numbers today
Tata Communications (TATACOMM), Home First Finance (HOMEFIRST), IndiaMART InterMESH, Mastek, Metro Brands, Polycab India, Poonawalla Fincorp, South Indian Bank, Sterling and Wilson Renewable Energy (SWSOLAR), and Shoppers Stop are some of the companies slated to announce their earnings during the course of the day. Here's the full list:
- 360ONE
- ACCELYA
- AURUM
- DBOL
- DRAGARWQ
- DRCSYSTEMS
- FERVENTSYN
- FINPIPE
- GGAUTO
- GGENG
- HOMEFIRST
- INDIAMART
- INDUSINDBK
- INNOVACAP
- JSL
- KSOLVES
- LYNMC
- MARKOBENZ
- MASTEK
- METROBRAND
- NATHBIOGEN
- NETLINK
- POLYCAB
- POONAWALLA
- QUASAR
- RAJNISH
- REVAORG
- RKFORGE
- SHOPERSTOP
- SHRINIWAS
- SOUTHBANK
- SPENTA
- SPLPETRO
- STL
- SURAJLTD
- SURANASOL
- SWSOLAR
- TATACOMM
- TIERRA
- VBDESAI
- VELHO
- YOGI
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