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Dalmia Bharat Reports Disappointing Q3 Results, Sees Limited Short-Term Growth
Business, Equities, Market News, Markets, Research, Result Updates - July 27, 2022

UltraTech Cement Q1 Results: Profit falls 7% YoY to Rs 1,582 crore but beats estimates.

 

UltraTech Cement Q1 Results: Profit falls 7% YoY to Rs 1,582 crore but beats estimates.

 

UltraTech Cement reported net profit of Rs 1,582 crore for Q1FY23, 7.45% YoY lower than Rs 1,700 crores. However, the net profit managed to beat analyst expectations of Rs 1,214 crore. The bottom line fell by 35.6% QoQ from Rs. 2460.5 crores.

UltraTech’s revenue was higher by 28.2% YoY in the June quarter at Rs 15,163.98 crore as against Rs 11,829.84 crore reported in Q1 FY22. Revenue figure also managed to beat the Street as an ET NOW poll had estimated the figure at Rs 14,238 crores. The top line was down by 3.8% on a QoQ basis.

The company achieved capacity utilisation of 83% as compared to 73% during the quarter. Domestic sales volume increased by 19% YoY basis. The demand for cement was affected due to overall inflationary trends and lower labour availability in May 2022. However, the demand for cement grew in June 2022 on pre-monsoon construction activity.

The June quarter witnessed volume growth of 17% YoY and revenue growth of 34% YoY. The raw material cost increased 13% YoY. Domestic sales volume improved by 19% on a year-on-year basis.

The volumes saw strong traction over the low base of last year and the price hikes taken by the company enabled improvement in realizations which increased revenue growth. The profitability is affected by the rise in power and fuel costs.

Ultratech’s consolidated cement sales volume grew by 16.3% YoY to 25.04 MT in Q1FY23 led by healthy demand across segments like road infrastructure, realty and metro projects. Capacity utilization stood at 83% in Q1FY23 against 90% in Q4FY22. Blended realisations grew 10.2% YoY/6.4% QoQ to INR 6,056/ton as company took price hikes in key markets. Prices in Q1FY23 has gone up in double digits in Central/North, 5-6% in East/West and was flat in South.

The other income for the quarter slipped by 47% at Rs 108.7 crores as compared to Rs 205 crores in Q1 FY22. The other income during the March quarter was lower at Rs 92.4 crore.

The rise in the pet coke and crude prices resulted in a significant surge in the power & fuel cost for the company which jumped 595 bps compared to 26.5% as percentage of revenue in Q1 FY22. Compared to the March quarter, the cost of power & fuel is higher by 130 bps.

Other expenses increased by 24 bps to 12.2 percent of total revenue. The company saved on the costs of employees and freight & forwarding costs which decreased 74 bps and 69 bps respectively in Q1 FY22. The employee cost as percent of revenue increased by 22 bps while freight fell by 36 bps OoQ.

EBITDA declined by 6.4% YoY to Rs. 30,94.9 crores due to higher input cost. Though on QoQ basis EBITDA saw a marginal growth of 0.7%. EBITDA margin contracted by 755 bps YoY to 20.4%, though on QoQ basis margin expanded by 92 bps. Margin contraction on YoY basis was mainly due to 65.3% YoY rise in Power & Fuel costs along with 57.4% YoY higher raw material costs and 24.3% YoY higher logistics costs.

EBITDA margin contracted by 755 bps YoY to 20.4%, though on QoQ basis margin expanded by 92 bps. Margin contraction on YoY basis was mainly due to 65.3% YoY rise in Power & Fuel costs along with 57.4% YoY higher raw material costs and 24.3% YoY higher logistics costs. EBITDA/ton saw a decline of 19.6% YoY to INR 1,236, though on QoQ basis it grew by 11.4% as pet coke and fuel prices started softening from their peak.

The shares of the company are currently trading at Rs. 6539.90, up by 141.20 points or by 2.27% as compared to the previous closed at Rs. 6399.35. The stock opened at Rs. 6390.30. The market cap of the company is Rs. 189,000 crores.

 

 

 

 

 

 

 

Infosys reports a net profit of Rs.5,350Cr. in Q1 FY23. 

 

L&T Technology Services Ltd Q1 Results Update.

 

HUL Q1 FY23 Result Update: HUL beats estimates with Rs 2,381-cr net profit in Q1; revenue up 19.6%

 

 

 

 

 

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Liquidity is a major concern in the Indian Banking Sector
Business, Markets, Result Updates - July 27, 2022

Axis Bank’s net profit was up by 91% in Q1 FY23.

Axis Bank’s net profit was up by 91% in Q1 FY23.

Axis Bank reported a net profit of Rs. 4,125 Cr. in the June 2022 quarter, a jump of 91% from the June 2021 quarter at Rs. 2160 Cr. The advances stood at Rs. 7.01 lakh crore, up by 17% from June 2021. However, the advances were down by about 7.07 lakh crores from March 2022.

In Q1 FY23, NII increased by 20.9% year on year to Rs. 938 Cr. NIM stood at 3.6%, improved by 11 bps QoQ and by 14 bps YOY. The PPOP was at Rs. 588 Cr., with a decline of 8.2% YOY. The fee income was at Rs. 357 Cr. in June 2022, up by 34% YOY. The provisions for the quarter stood at Rs. 359 Cr. The street is disappointed with the loan growth for the June 2022 quarter, down by 7.5% QOQ and 43.5% YOY at Rs. 368 Cr. The gross slippage ratio was at 2.05%, declining by 20 bps YOY and 33 bps QOQ. 45% of the gross slippages were contributed by borrowers’ linked accounts, which were standard. The GNPA and NNPA ratios improved and stood at 2.7% and 0.64%, respectively.

The PCR ratio was at 77% for the quarter. We believe that the asset quality will be constant and improve in the near future. The cost to income ratio stood at 52.5% for the June 2022 quarter at Rs. 357 Cr. and we expect the ratio to increase due to investments in technology. While income growth is expected to improve, The bank is focused on the three core areas: deepening performance culture, strengthening the core and building for the future. It continues to invest in the SME space, extending its distribution and service across India. On Citibank customer business integration, Axis Bank is waiting for CCI approvals and expects to close transactions. 69% of the bank’s loan book is floating rates, which will rise in the policy tightening environment.

The stock price closed at Rs.719.05 and touched an intraday high of Rs.707 and a low of Rs.703. The market capitalization for the bank is Rs. 2.21 lakh cr. The 52-week high was at Rs. 866 and the 52-week low was at Rs. 618.25.

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Happiest Minds Technologies' net profit jumps by 57% in Q1 FY23.
Markets, Result Updates - July 26, 2022

Happiest Minds Technologies' net profit jumps by 57% in Q1 FY23.

Happiest Minds Technologies’ net profit jumps by 57% in Q1 FY23.

Happiest Minds recorded net sales of Rs. 328.92 crores in June 2022 compared to Rs. 244.61 crores in June 2021. The net profit stood at Rs. 56.34 crores in Q1 FY23, up by 57.68% sequentially at Rs. 35.73 crore because of lower other income. The free cash flows were recorded at Rs. 86.39 cr. The service business was driven primarily by Edu-tech, contributing 23.7%, BFSI, contributing 13.7%, and industrials, at 8.2%. Digital infrastructure/Cloud, AI/Analytics and SaaS had a contribution of 45%, 11.6%, and 21.5%, respectively.

EPS stood at Rs. 3.96 in June 2022, up from Rs. 2.51 in June 2021. EBITDA stands at Rs. 87.75 crore, up 32.65% from Rs. 66.15 crore YOY. The reported operating margin stood at 22.7% QoQ, down by 30bps due to lower utilization. 97% of the total revenue comes from digital business, and 93% is contributed by Agile. Europe and the USA witnessed positive growth on a QOQ basis, with healthy pipelines in digital services. 90% of the total revenue was repeat business. The IT tech added 5 new clients and now has 211 active clients in total. The smaller accounts of non-top 10 clients did well and contributed approximately 57.1% of the total revenue. The firm was able to increase business from existing clients while also adding two new clients to the Fortune 2000/Forbes 200 billion dollar corporation.

In the concall, the IT firm mentioned that 15% of the total revenue was from the new business and the remaining came from the existing operations. One of the large clients was cautious in the last quarter but has shown interest in investing more in its new features in the product platform. The firm intends to hire more than 500+ freshers and around 300+ will be joining by August 2022. Happiest Minds will continue to invest in new technology and maintain an EBITDA of 22% to 24% in the coming period. The management believes that they will maintain a CAGR of 25% over the next five years. They are optimistic about their future opportunities and focus on the annuity business. The management expects a multi-year tail wind in digital technologies, multi-hybrid cloud and automation.

We believe that the recent intake of freshers, constant investments in skill addition, currency depreciation, along with supply side challenges, wage hikes, increasing subcontracting costs, and higher intake will keep margins under check in the near term. The stock is currently trading at Rs.974.55, down by 24.05 points, or 2.41%. The stock touched a 52-week high of Rs.1568.00 and a 52-week low of Rs.785.60. The Bangalore-based firm’s market cap is at Rs.14258 crores.

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Kia India Posts 14.43% Yearly Sales Growth in May 2025
Business, Equities, Market News, Markets, Research, Result Updates - July 26, 2022

Wipro Q1 FY23 Result Update: Profit falls 21% YoY to Rs 2,563 crores.

 

Wipro Q1 FY23 Result Update: Profit falls 21% YoY to Rs 2,563 crores.

On 15th July 2022, Wipro reported its profit at Rs 2,563 crore, down by 20.9% year-on-year from Rs. 3,243 crores on account of higher employee-related costs pushed up the information technology services firm’s overall expenses. Total expenses for the June quarter increased by 22.9% to Rs 18,648 crore, with voluntary IT services attrition at 23.3%. On a sequential basis, the company’s net profit fell 16.96% from ₹3,083.7 crores in the March quarter.
The operating margin for Q1 FY23 is 15% as compared to 17.2% in Q1 FY22 and 17.2% in Q4 FY22. The low operating margin is because the company is investing in solutions and capabilities to strengthen its position as a strategic partner for its clients. In constant currency (CC) terms, IT services segment revenue increased by 2.1% QoQ and 17.2% YoY.
Revenue from operations grew by 18% to Rs 21,529 crore as against Rs 18,048 crore in Q1FY22. The revenue increased by 3.2% QoQ from Rs. 20860 crores.
The Earnings before interest and tax stood at Rs. 3085.6 crores, fell by 9.3% QoQ from Rs. 3402.9 crores and by 1.8% YoY from Rs. 3141 crores. EBIT margin fell 200bp QoQ to 15% due to lower utilization and higher investments in employees.
The total number of employees increased to 2.58 lakh with the addition of 15,446 employees during Q1 FY23. Wipro’s attrition rate stood at 2.3%.The closing strength of employees for IT Services was at 258,574, an increase of 15,446 QoQ.
Dollar Revenue was up 0.5% QoQ in CC term to USD 2,736mn. Rupee revenue grew by 3.2% QoQ to INR 215,286Mn, supported by growth in consulting and engineering services. Sequential growth performance was led by the consumer (+5% QoQ CC) & BFSI verticals (+2.4% QoQ CC), which grew above the company average, while manufacturing declined sequentially. Digital engineering and application grew faster (+3.5% QoQ) than iCORE. In IT Services. Organic growth witnessed softness in deal wins; BFSI, Consumer and Telecom Verticals are the key revenue drivers for the quarter. Wipro won 18 large deals in Q1FY23.Overall TCV of deals grew 32% YoY and ACV grew by 18% YoY. Deals were across verticals/geographies and the proportion of the deal wins are mostly new deals. The company’s order bookings grew 32% YoY in total contract value terms, powered by large transformation deals, and the pipeline today is at an all-time high. In terms of sector mix, Wipro earns 35.4% of its revenue from banking, financial services, and insurance, 18.5% in consumer, and 11.5% in health.

The Earnings Per Share for the June quarter was Rs. 4.69.
The shares of Wipro are currently trading at Rs. 414.80, up by 1 point or by 0.96% as compared to the previous close of Rs. 410.85. The shares opened at Rs. 410.50. The market cap of Wipro is Rs. 227,381 crores. The stock hit intraday high and low of Rs. 415.65 and Rs. 408.55 respectively.

 

 

Infosys reports a net profit of Rs.5,350Cr. in Q1 FY23. 

 

L&T Technology Services Ltd Q1 Results Update.

 

HUL Q1 FY23 Result Update: HUL beats estimates with Rs 2,381-cr net profit in Q1; revenue up 19.6%

 

 

 

 

 

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HUL Q1 FY23 Result Update
Business, Equities, Market News, Markets, Research, Result Updates - July 26, 2022

HUL Q1 FY23 Result Update: HUL beats estimates with Rs 2,381-cr net profit in Q1; revenue up 19.6%

 

HUL Q1 FY23 Result Update: HUL beats estimates with Rs 2,381-cr net profit in Q1; revenue up 19.6%

 

HUL reported a net income of Rs. 2,381 crores, up by 13.5% YoY from Rs. 2,097 crores. The net income increased by 3.4% QoQ from Rs. 30,640 crores. The company’s performance in the June quarter was led by market share gains in various categories and a jump in sales by volume even as reduced the weight of some packaged products.

The company’s revenue increased by 19.6% YoY to Rs. 14,357 crores in Q1 FY23 as against Rs 12,004 crores in Q1 FY22. The company reported 6.2% QoQ growth in revenue from Rs. 13,767 crores. The underlying volume growth was 6.0% YoY. The YoY revenue growth has been robust across segments. Home Care, Beauty & Personal Care (BPC), Foods & Refreshment (F&R) segments have seen YoY growth of 29.8%, 17.9%, 9.3%  respectively. BPC segment growth was ahead of market growth with premium segments seeing strong growth. Within the F&R segment, ice-creams had a strong quarter while coffee and foods performed well, and tea portfolio performance was stable.

EBITDA stood at Rs. 34,02 crores (+16.5% YoY/ +3.1% QoQ). EBITDA margins were at 23.3%, a decline of 69 bps YoY and 71 bps QoQ. The decline in gross margins was partly offset by pricing actions and optimizing all non-consumer costs.

Other income was higher in Q1FY23 due to higher commission from GSK and government grants. Employee costs declined on a YoY basis due to growth leverage and high base of Q1FY22 which had covid related expenses.

For the June quarter the EBIT stood at Rs. 3121 crores, up by 17.3% YoY and 3.2% QoQ. EBIT margins were flat YoY as the cost inflation was offset by cost savings, operating leverage from high growth and price increases. BPC EBIT margins declined 167 bps YoY impacted by the high inflation. F&R segment EBIT margins declined by 214 bps YoY due to adverse mix as ice-creams which is a lower margin category had a strong quarter.

HUL’s performance is a result of market outperformance, which in turn is a result of large players benefitting from inflation in commodity-sensitive categories and, continued work on category development (both formats and premiumisation). HUL gained market share in over 75%  of its portfolio during the quarter. Sales volumes jumped 6% YoY even as it reduced weights of of several of its packaged products to protect margins given the steep inflation in commodities.

During the quarter, the company took a 12 %  price increase across its portfolioThe company’s volume growth stood at 6% in the April-June quarter (on a high base of last year) as against a contraction of 5% for the industry. In the June quarter last year, the company’s volume growth was 9%.

HUL’s foods and refreshments category grew 9% in Q1, driven by performance in ice-cream, coffee and food solutions. The FMCG major logged a 6% volume growth for the quarter. The company’s Home Care segment delivered 30% growth driven by strong performance in Fabric Wash and Household Care and effective market development actions.  The Beauty & Personal Care segment reported growth of 17%. Hair Care increased in high double-digits, led by strong performance in the premium portfolio.

The EPS for the quarter is Rs. 10.1, up by 13.5% YoY and 3.4% QoQ.

The shares of the company are currently trading at Rs. 2,555, down by 68.6 points or by 2.61% as compared to the previous close of Rs. 2623.60. The shares opened at Rs. 2,625. The market cap of the company is Rs. 600,320 crores. The stock hit an intraday high and intraday low of Rs. 2,625 and Rs. 2,553 respectively.

 

 

 

 

 

Tata Metaliks Q1 net profit falls sharply to Rs 1.22 crores.

 

Jindal Steel & Power Ltd Q1 FY23 Result Update: Net profit jumps to Rs. 2,771 crores.

 

 

Oberoi Realty reported a decline in Book Value.

 

 

 

 

 

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Grainspan Boosts Ethanol Output with ₹520 Crore Investment in Gujarat Plants
Result Updates - July 26, 2022

JSW Steel's net profit declined to Rs. 839 crores in Q1 FY23.

JSW Steel’s net profit declined to Rs. 839 crores in Q1 FY23.

Net profit declined to Rs. 839 crores compared to Rs. 5900 crores in June 2021. The total revenue reported was down by 32% YOY and 19% QOQ to Rs. 38126 crore in June 2022. EBITA stood at Rs. 4,309 crore and the EBITDA margin declined by 29% to 11.3%. The fall in EBITDA was contributed to by the lower volume of sales, loan translation losses, NRV provisions, etc.

The domestic steel industry was impacted by global events and the imposition of a 15% duty on steel exports in May 2022. Exports fell by 26% from March 2022 to June 2022.crude steel production was at 5.77 million tonnes and saleable steel sales were at 4.449 million tonnes. It was up 12% YOY but down by 21% QOQ, mainly due to a sharp drop in export volume. The company’s average capacity utilisation for the quarter was 93% in June 2022 compared to 98% in March 2022. They have also planned the maintenance shutdowns that were scheduled for during the year. This lowered the average capacity utilisation.

Among the subsidiaries, JSW Steel Coated Products recorded an EBITDA loss for provisioning for inventory, while BPSL’s EBITDA was down by 55% QoQ. Acero Junction’s EBITDA plunged down 87% QoQ; however, Plate and Pipe Mill reported better numbers on strong shield demand for EBITDA, up 14% QoQ. Europe managed to get rail orders, thus securing the operating margin.

As the inventory is rising and demand is weak, coupled with few opportunities to export in the near term, the company has moderated its fabrication. We have slightly reduced our volume forecast for FY23, but management remains confident that lost volumes will be recovered in the coming quarters.JSW is finalising its deal with a few auto makers for a hike of Rs.900/t and is still negotiating with the major auto players. The company has also started to buy coal from Russia at a discount. However, Australia is the major source of coal for JSW.

We expect the excess finished steel inventory in the industry to prohibit any future price hikes. To evacuate the inventory, the companies will have to slow down production or export some quantities. This will be over by Q2 – Q3 FY23 and price hikes can be seen. We believe one more round of correction will happen in the steel industry. As it is a cyclical industry, weak quarters are expected due to monsoons, which supports our dip in the stock price.

The stock price closed at Rs. 596.65 on Tuesday and touched an intraday high of Rs. 599 and an intraday low of Rs. 581.60. The 52-week high for the company was Rs. 790 and the 52-week low was Rs. 520. The market cap was at Rs. 143 lakh crore.

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Equity Right
Markets, Result Updates - July 25, 2022

Infosys reports a net profit of Rs.5,350Cr. in Q1 FY23. 

Infosys reports a net profit of Rs.5,350Cr. in Q1 FY23. 

IT leader, Infosys reported a net profit of Rs. 5,360 crores. compared to Rs.5,195 in June 2021. The firm missed the street estimation of Rs.5,550 crores.
Total revenue for India’s second-largest firm was at Rs. 34,470 crores
a jump of 23.6% YOY. The operating margin was at 20.1%, down by
1.4% QOQ. It managed to beat the revenue estimates but disappointed PAT and margin. The EBIT margin declined to 20.1% by 150 bps onshore and offshore wake hikes were higher resulting in lower PAT because of constrained talent supply. Though the quarterly attribution was down and jumped from 27.7% in March 2022 to 28.4% in the June quarter, the
attribution elevated by 70 bps. Infosys was double-digit across
business segments in constant currency. Digital technologies grow by 37.5% CC. The total free cash flow during the June quarter was at 5,106 crores and improvement in ROE to 31%. Large-deal TCV for the quarter was at 170 crores down by 25% QOQ and 34% YOY. They have updated earning guidance from 13% YOY to 14%- 16% YOY giving a strong demand.
The net addition stood at 21,171 employees VS 13,599 in last 4 quarter.
The company is on track to hire 50,000 fresher in FY23. The company got 19 new deals. Management said that they have a healthy pipeline for the near future. The total number of active clients was at 1778 clients compared to 1741 clients in March 2022 and 1195 in June 2021. The top 10 clients contribute 13% of total revenue and the top 10 clients contribute around 20% of the revenue. Revenue per employee was down by 1.4% QOQ to US$56.9K due to investments in fresher and the total employees were recorded at 3,35,186.
We consider the margins to be under pressure due to an increase in travel, wage hikes in senior management, and supply side-cost in Q2 FY23. The management mentioned in the concall that the pricing is stable, thus we expect 21% to 25% in the near future. The scrip closed at Rs.1,503 down by
0.81 %. The stock touched a 52-week high of Rs. 1953.90 and a 52-week low of Rs.1,367.15. The Bangalore-based firm’s market cap is at Rs. 6.30 lakh crores.

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L&T Technology Services Ltd Q1 Results Update.
Business, Equities, Market News, Markets, Research, Result Updates - July 25, 2022

L&T Technology Services Ltd Q1 Results Update.

 

L&T Technology Services Ltd Q1 Results Update.

 

L&T Tech Services reported net profit of Rs 274 crore for the June quarter, up 27% year-on-year. Sequentially the profit was up 4.7% from Rs.262 crores, driven primarily by revenue growth and operational execution.

Revenue for the company grew at 23% YoY at Rs 1,873 crore, and 6.7% QoQ sequentially from Rs. 1,756 crores, fuelled by healthy revenue growth in top clients and a demand uptick in its transportation vertical.
The firm’s dollar revenue grew 3.2% at $239.5 million, and came in at 4.7% in constant currency. Growth was led by plant engineering and industrial products, benefitting from spending on digital manufacturing, energy transition, and smart & connected products.

Transportation led the verticals with a 23.8% growth due to demand from the aerospace and rail segments. The plant engineering vertical clocked 20.3%. Medical devices grew 13.9% and industrial products was up 13.6%.

India’s business grew 19.6% on year and North America rose 17.6%. Operating margins stood at 18.3%, down 30 basis points sequentially but up 100 bps YoY.

During the quarter, LTTS won a $50 million plus deal, four $15 million deals and two deals with TCV of $10 million.

For the June quarter, EBIDTA margins stood at 21.4%. However, margins were better managed despite higher attrition. The company reported attrition of 23.2% for the Q1 FY23, up from 20.4% in Q4 FY22. The total headcount now stands at 21,433. The company added 572 employees sequentially

EBIT stands at Rs. 3,43.4 crores for the quarter as compared to 2623 crores YoY and Rs. 3,274 crores QoQ. EBIT margin is at 18.3% as against 17.3 in the previous quarter, driven by operational efficiencies. During the quarter, the company had gains from currency depreciation which were offset by higher employee benefit costs.

Other income was at Rs. 34 crores, slightly higher on a sequential basis due to higher Income from Investment. At the end of Q1FY23, the patent portfolio of LTTS stood at 913, out of which 625 are co-authored with its customers and the rest are filed by LTTS. 

Currently, the shares of the company are trading at Rs. 3440.35, up by 18.10 points or by 0.53%. On 25th July 2022, the stock opened at Rs. 3417.80 and previously closed at Rs. 3422.25. The stock hit an intraday high of Rs. 3478.55 and an intraday low of Rs. 3401.20. The market cap is Rs. 36,315 crores.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Tata Metaliks Q1 net profit falls sharply to Rs 1.22 crores.

 

Jindal Steel & Power Ltd Q1 FY23 Result Update: Net profit jumps to Rs. 2,771 crores.

 

 

Oberoi Realty reported a decline in Book Value.

 

 

 

 

 

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Bharti Airtel Stock Hits Fresh 52-Week High on Strong Market Momentum
Business, Result Updates - July 22, 2022

CANF net profit at Rs.162.21Cr. in Q1FY23.

CANF net profit at Rs.162.21Cr. in Q1FY23.

Can Fin Homes Ltd. (CANF) declared its result on July 21st, 2022 for Q1 FY23. The company reported total revenue of Rs. 611.58 Cr. compared to Rs. 561.29 Cr. in the previous quarter. The net profit jumped to Rs. 162.21 Cr. for Q1 FY23, up by 31.96% QoQ.

The loan book reached Rs. 27538 Cr. with a clientele base of 2.15 lakhs, up by 24% in the current quarter YOY. The disbursements in Q1 stood at Rs. 1722 Cr. compared to Rs. 2705 Cr. in March 2022. In the June quarter, NII increased by 5.5% to Rs. 250.40 cr. The Net Interest Margin (NIM) decreased to 3.60% in June 2022 from 4.07% in the previous quarter. The average business was reduced by 0.63 bps to Rs. 146.48 crores per branch (vs. 147.11 crores on March 22). The cost/income ratio tanked from 19.84% to 15.84% in Q1 FY23 QOQ. The asset quality declined as GNPA increased by 5.39% and was recorded at Rs. 179.78Cr. this was Rs. 170.59Cr. on March 22. The NNPA was at Rs. 81.94 crores, or 0.30%. An increase in the cost of borrowing was witnessed at 5.80% on June 22 versus 5.66% in June 2021 and 5.56% in March 22, due to the hike in the interest rates by the RBI. The EPS was at Rs. 12.18 on June 22, compared to Rs. 9.23 on March 22 and Rs. 8.17 on June 21.
The average ticket size for incremental housing loans was Rs. 21 lakhs and for non-housing loans was Rs. 9 lakhs. The salaried and professional segments constitute around 74% of the O/S loan book. Housing loans were 90%, while non-housing loans were 10%.

CANF has better-quality assets among its peers, but we remain observant of seasonality in the portfolio that could lead to higher credit costs. They have achieved strong growth in the loan book and we expect a minimal spread/margin compression over the next few years. Though housing companies continue to face headwinds because of current macroeconomic situations, the NBFCs’ ability to maintain adequate liquidity, control asset quality, and diversification remains the key differentiator. With the continued growth in the loan book, CANF will witness robust growth. But due to the hike in interest rates, the NBFC will have weak demand for housing among the salaried, non-professional and self-employed classes. However, the expenses will go up due to aggressive branch expansion plans and operational costs. The NBFC has consistently increased its reserves and surplus to come out of uncertainty, which amounted to Rs. 3,040 Cr. in March 2022.

The stock is currently trading at Rs. 552, up by 11.25 points or 2.09%. It touched an intraday high of Rs.590 and a low of Rs.540. The 52-week high for the share price was at Rs.722, and the 52-week low was recorded at Rs.407

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Shipa Medicare reported an 85 lakh net profit.
Business, Equities, Market News, Markets, Research, Result Updates - July 22, 2022

Just Dial net loss widens to Rs 48 cr in Q1 FY23.

 

Just Dial net loss widens to Rs 48 cr in Q1 FY23.

On 15th July 2022, Just Dial Dial reported a consolidated net loss of Rs 48.36 crore in Q1 FY23 compared with a net loss of Rs 3.52 crore in Q1 FY22. The loss was driven by negative other income. Other income stood at Rs 60 crore for the quarter due to mark-to-market (MTM) losses on treasury portfolio owing to the significant increase in bond yields (135-150 bps QoQ for 2-3 year AAA bonds). The net profit margin foe the June quarter was -26% as compared to 2-2.1% in June 21 and 13.3% in March 22 quarter.

Net revenue was at Rs 185.60 crore for the June quarter as against Rs 165.41 crore during the same period in the previous year, registering a growth of 12.2%. On a sequential basis, net sales rose 11.4% from Rs. 166.7 crores. The employee expenses were higher during this quarter. This was on account of increase in the  hiring across critical functions such as technology, content, sales and marketing teams. In sales department, headcount was up 4.2% QoQ.

Just Dial reported a pre tax loss of Rs 59.84 crore in June 22 as against a pre tax loss of Rs 4.39 crore recorded in June 21. Total expenditure increased by 3.71% to Rs 185.45 crore in Q1 FY23 as against Q1 FY22.

The company recorded Adjusted operating EBITDA, excluding ESOP expenses, at Rs 11 crore in Q1 FY23 as compared to Rs -10 crore in Q1 FY22 and Rs -8 crore in Q4 FY22.

Deferred Revenue stood at Rs 353.4 crore, up 4.5% QoQ and 15% YoY. The QoQ growth in deferred revenue driven by 12.2% QoQ growth in collections to Rs 200.9 crore.

Cash and Investments stands at Rs 3,739.6 crore as on June 2022 compared to Rs 1,533 crore as on June 2021 and Rs 3,820.1 crore in March quarter.

Total Traffic (unique visitors) for the quarter stood at 147.9 million, up 19.1% YoY and 2.1% QoQ. 84.3% traffic originated on Mobile platforms, 11.3% on Desktop/ PC and 4.4% on our Voice platform.

Total Active Listings stood at 32.8 million as on 30 June 2022, an increase of 7.4% YoY and 2.8% QoQ. During the June quarter 907,228 listings were added  to the database. Active Paid Campaigns at the end of Q1 FY23 was at 483,690, up 10.5% YoY and 4.8% QoQ. Robust paid campaigns addition of 22,195  was due to aggressive focus on selling monthly payment plans.

 

Currently, the shares of Just Dial are trading at Rs.  585.60 as against the previous close of Rs. 591.55, declined by 5.25 points or by 0.89%. The stock opened at Rs. 593.70. The market cap of the company is Rs. 4,940 crores.

 

Just Dial net loss widens to Rs 48 cr in Q1 FY23.
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