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Q1 FY23 result updates

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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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.
Image shown is for representation only

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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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HDFC Bank Q1 Result Update: Profit rises 19% YoY to Rs 9,196 crore; NII up 15%
Business, Equities, Market News, Markets, Research, Result Updates - July 21, 2022

HDFC Bank Q1 Result Update: Profit rises 19% YoY to Rs 9,196 crore; NII up 15%

HDFC Bank Q1 Result Update: Profit rises 19% YoY to Rs 9,196 crore; NII up 15%

On 16th July 2022, HDFC Bank reported a net profit of Rs. 9,196 crores, up by 19% YoY from Rs. 7,729.64 crores. Lower provisions and improvement in the asset quality led to an increase in the overall earnings. Also, there was a sharp decline the credit cost. For the June quarter, provisions worth Rs 3,187.7 crore was recorded, down 34% YoY from Rs. 4830.8 crores. Provisions in the Q4 FY22 stood at Rs 3,312.35 crore.
However, the net profit dropped by 8.9 % QoQ from Rs. 10,055.18 crores. The company recorded revenue growth of 13% YoY to Rs. 41,560.27 crores during the June quarter as compared to the Rs. 36,771.47 crores in Q1 FY22.

HDFC Bank posted a net interest income (NII) of Rs. 19,481.4 crores, up by 14.5% from ₹17,009 crores in June 2021 on account of strong growth momentum. The increase in NII was driven by advances and deposits that recorded growth of 22.5% and 19.2% respectively. The total balance sheet grew by 20.3%. NIMs for the June quarter stood at 4.0%, which is stable QoQ & YoY. The total credit cost ratio was at 0.91% as compared to 1.67% for June 21.

Similarly, non-interest income increased to Rs 9,011.6 crore from Rs 6,288.6 crore YoY. Pre-provision operating profit of the bank rose by 14.7 % YoY to Rs 15,367.8 crores for Q1 FY23. Gross nonperforming assets (GNPA) were lower in Q1FY23 at 1.28% compared with 1.47% in Q1 FY22. However, it was higher than 0.32% reported in Q4FY22. Net non-performing assets (NNPA) of the lender dropped to 0.35% in Q1 FY23 as against 0.48% in Q1 FY22.

HDFC Bank registered a profit before tax (PBT) of ₹12,180.1 crores in the June quarter rising by 18.2% YoY. The bank reported total revenue growth of 13% to Rs 41,560.27 crore in June 2022 quarter as against Rs 36,771.47 crore in June 2021 quarter.

PPoP grew 1.5% YoY while declined by 6.0% QoQ at Rs. 15367.8 crores. Fee income for Q1FY23 stood at Rs. 53,30.4 crores while the loss on sale of investment stood at Rs. 1311.7 crores. Advances as of June 30, 2022, were reported at Rs. 1,39,5067.7 crores. The deposit growth for the quarter by 19.2% at Rs. 1,60,47,60 crores with a CASA ratio of 45.8%. Strong growth in advances was led by retail & commercial segments. There was a sequential deterioration in asset quality because of seasonal Agri NPAs.

The fee & commission segment grew 38.0% YoY and fell 4.8% QoQ. The sequential fall was owing to a high base of seasonally strong Q4FY22. The bank reported an MTM loss of Rs. 1311.7 crores due to a spike in the benchmark bond yields during the quarter. Excluding the MTM loss, the other income for the quarter grew 35.4% YoY. The operating expenses for the quarter grew 28.7% YoY due to the low base of last year on the back of lower activities during Covid-19.

 

Currently, the shares of HDFC Bank are trading at Rs. 1361.60 as compared to the previous close of Rs. 1365.05. The stock opened at Rs. 1360.55. The share price is down by 3.40 points or by 0.24%. The market cap is Rs. 756,409 crores.

 

 

 

 

 

HDFC Bank Q1 Result Update: Profit rises 19% YoY to Rs 9,196 crore; NII up 15%
Image shown is for representation only.

 

 

 

 

 

 

 

 

 

 

 

 

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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Can India’s Private Sector Growth Sustain Itself Amid Cooling Momentum?
Business, Equities, Market News, Markets, Research, Result Updates - July 20, 2022

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

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

Tata Metaliks Ltd reported a net profit of Rs 1.22 crores in Q1 FY23. The net profit fell by 98.71% YoY from Rs. 94.72 crores and down by 97.67% QoQ from Rs. 52.46 crores. The decline in the net profit for the June quarter was on account of higher expenses.

During the June quarter, the expenses climbed up to Rs 667.72 crore from Rs 471.62 crore, up by 41.58% on yearly basis.

The expenses increased due to higher input costs. DIP business has delivered close to its planned volumes, the pig iron business got adversely impacted due to lower production and higher cost arising out of the annual maintenance shutdowns and also on account of operational issues in one of the blast furnaces for much of April and May. Sales Volume of Pig Iron & DI Pipe were lower by 23% & 8% respectively on a y-o-y basis owing primarily to softening of the market sentiment of Pig Iron from mid-May onwards. Pig Iron prices also dropped in market prices after the imposition of export duty by the Govt on 22nd May 2022. On the Raw materials front, coal and coke prices moved up significantly (coke price was up 30% over Q4). Profitability was severely impacted in the quarter owing to the above factors.

 

However, the total revenue increased by 10.37%  YoY, from Rs. 606.45 crores to Rs. 669.35 crores due to increased realization of both Pig Iron and DI Pipe by ~36 to 40%.  The revenue slipped by 17.84% QoQ from Rs. 814.65 crores. During the quarter there was an increase in the prices of coal, coke and other consumables. Another factor for the decline in profitability is the continuing drag of old DIP orders booked in FY21. Moreover, a sharp drop in pig iron prices post imposition of a 15% export duty severely affected the profitability in the June quarter.

 

EBITDA stands at Rs. 27.11 crores in the June quarter. It declined by 82.73% from Rs. 156.99 crores in Q1 FY22. The profit before tax stood at Rs. 1.73 crores, down by 97.64 % QoQ from Rs. 73.19 crores and 98.72 % YoY from Rs. 134.83 crores. The EPS has also decreased to Rs. 0.39 in June 2022 from Rs. 29.99 in June 2021 i.e. by 98.70%. The EPS fell by 97.65% QoQ from Rs. 16.61

 

Currently, the shares of Tata Metaliks are trading at Rs. 706.70 as compared to the previous close of Rs. 700.90, up by 5.05 points or by 0.86%. The shares opened at Rs. 701.50. The market cap of the company is Rs. 2,232 crores.

 

Tata Metaliks Q1 net profit falls sharply to Rs 1.22 crores.
Image shown is for representation only.

 

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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BEML Surges by 7.86% on Likely Upgrade to Navratna Status
Business, Editorials, Market News, Markets, Result Updates - July 19, 2022

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

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

On 15th July 2022, JSPL reported a net profit of Rs. 2770.88 crores as against the net profit of Q1 FY22 at Rs. 14.25 crores. The net profit increased on account of higher income. The total revenue increased from Rs. 10,643.17 crores in the March quarter to Rs. 13,069.17 in the June quarter. The revenue was up by 23% YoY.

The output of steel remained almost flat at 1.99 million tonnes (MT) as compared to 2.01 MT in April-June 2021. However, there was a fall by 6% QoQ . The sale of steel stood at 1.74 MT against 1.61 MT a year ago and was down by 16% QoQ. The key divers foe the fall of the sale was the challenging marketing conditions and the imposition of export duty. Due to the imposition of the export duty, the domestic volume fell by 12% and export volume slipped by 28%. During the June quarter, the realization was higher by 10% QoQ.

Expenses were also higher at Rs 10,566.64 crore as against Rs 7,233.55 in Q1 FY22. The costs grew by 10% due to the increase in the prices of coking coal by 33% and thermal coal by 27%.

The EBITDA margin during this quarter is 42.8% as compared to the previous quarter at 26.4%

In Mozambique, the company’s Chirodzi mine produced 0.93 MT ROM (run of mine) and sold 197 KT (kilo tonne) coking coal. Mozambique operations have reported an EBITDA (earnings before interest, taxes, depreciation, and amortization) of Rs. 334 crores for 1QFY23, driven by higher sales volumes and realisations. During April-June, Kiepersol mine in South Africa reported production of 146 KT ROM, and sales of 74 KT. The mine reported EBITDA of Rs. 84 crores. for the quarter. The company’s Russel Vale mine located in Australia produced 138 KT ROM, and dispatched 79 KT coking coal. The mine reported EBITDA of Rs. 24 crores for the quarter.

JSP’s 1QFY23 standalone Gross revenues of Rs. 14,541Cr declined by 7% Q-o-Q and up by 27% YoY as lower volumes more than offset the benefit from higher realisations. Notwithstanding higher input costs, 1QFY23 Adjusted EBITDA of INR 2,865Cr was 8% higher Q-o-Q and fell by 35% Y-o-Y. Q1FY23 Adjusted Profit after tax (PAT) of INR 2,072Cr (Adjusted for exceptional) increased 44% Q-o-Q and slipped by -22% Y-o-Y on higher operating profit and lower finance costs. Pellet production of 1.92mt declined 11 % Y-o-Y (-3% Q-o-Q) due to negligible external sales (30KT vs. 400KT in 1QFY21)

Consolidated Gross Revenues fell 8% Q-o-Q to INR 14,738Cr (+26% Y-o-Y), driven by lower steel and pellet sales partially offset by higher realisations. Adjusted EBITDA of INR 2,993Cr was higher by 3% Q-o-Q but declined 32% Y-o-Y due to rise in input costs and unfavourable base in the prior year (low cost iron ore inventory available in 1QFY22). 1QFY23 Adjusted Profit after tax declined by 23% Y-o-Y (+5% Q-o-Q) to INR 1,929Cr on the back of lower operating profit, partially offset by lower finance costs. Funds from JPL divestment has further strengthened JSP’s balance sheet with Consolidated Net Debt declining further by INR 1,149Cr in 1QFY23 to end the quarter at INR7,727Cr. Net Debt to EBITDA has improved to 0.54x from 0.57x in Q4 FY22.

 

On 18th July 2022, the shares of the company are trading at Rs. 351.50 , up by 6 points or by 1.74%. The shares previously closed at Rs. 345.50 and opened today at Rs. 349.05. The market cap of JSPL is Rs. 35,856 crores. The stock hit an intraday high of Rs. 353 and intraday low of Rs. 341.95.

 

 

 

 

 

 

Mindtree Q1 FY23 Result Update: Net Profit jumps 37% YoY to Rs. 472 crores.

 

 

 

 

 

 

 

 

 

 

 

 

 

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Krishna Institute reported a net profit of Rs. 79 Cr.
Business, Editorials, Market News, Markets, Result Updates - July 16, 2022

Mindtree Q1 FY23 Result Update: Net Profit jumps 37% YoY to Rs. 472 crores.

Mindtree Q1 FY23 Result Update: Net Profit jumps 37% YoY to Rs. 472 crores.

 

On 13th July 2022, Mindtree reported 37.3% rise in the consolidated net profit on YoY basis for the June 2022 quarter. The net profit increased from Rs. 343 cr. to Rs. 471.6 cr. However, on quarterly basis the net profit slipped by 0.3% from Rs. 473.1 cr in the previous quarter. There is an increase in the revenue of 36.2% year-on-year to Rs 3,121.1 crore during April-June 2022. Revenue fell by 7.7% as against the March 2022 quarter with Rs. 2897.4 cr

In terms of dollars, the company reported a revenue of $399.3 million, a growth of 28.6% and 4%QoQ. Its net profit was $60.3 million, a jump of 29.7% y-o-y and a decline of 3.8% q-o-q. This was sixth consecutive quarter of more than 5% growth in constant currency.

The company’s highest revenue of 76.8% came from North America, followed by APAC and Middle East (8.6%), Continental Europe (7.9%), and the UK and Ireland (6.8%).

The communications, media, and tech contributed the highest to Mindtree’s revenue in Q1 with 44.1% of the overall revenue. Retail, CPG, and manufacturing contributed 19.8% and banking, financial services and insurance about 18.6%; travel & transportation and hospitality & healthcare contributed 15.4% and 2% respectively.

 

The company signed a contract of $570 million during the June quarter, the highest ever for the company.

The company’s EBIT margin is 21.1% compared to 18.9% QoQ and 17.7% YoY. Investments and cash stood at an all-time high of $500 million

For the June quarter, the attrition is 24.5%, up from 23.8% in the March quarter and higher than Q1 FY22 recorded at 13.7%. However, the EBITDA improved to 8.2% QoQ.

 

According to Debashis Chatterjee, chief executive officer and managing director of Mindtree, the company’s order book in the June quarter was the highest ever.

As of June 30, 2022, the company had 274 active clients.

The company has received no objection letter from the stock exchange for the merger of Mindtree and L&T Infotech. The merger is on the way to regulatory approvals. According to Debashis Chatterjee, the synergies between Mindtree and LTI are already producing results and this quarter has allowed them to win a large deal from a large European-based travel technology company.

 

On 13th July 2022, the shares of Mindtree closed at Rs. 2900.60. Next day the opening price was Rs. 2960. The stock hit an intraday high of Rs. 2961. Currently, the shares are trading at Rs. 2771, down by 129.80 points or by 4.55%.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Indigo to “rationalise” salaries of technicians following mass sick leave.

Loan growth, higher margins, and lower costs to drive bank bottom lines in Q1.

NBFCs and HFCs securitization volumes almost doubled.

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Anthropic Reaches $3 Billion in Revenue During AI Surge!
Business, Editorials, Equities, Market News, Markets, Result Updates - July 15, 2022

Anand Rathi Wealth Q1 Results: Net profit up 34% to Rs 40 cr; revenue rises 36%.

 

Anand Rathi Wealth Q1 Results: Net profit up 34% to Rs 40 cr; revenue rises 36%.

On 12th July 2022, Anand Rathi Wealth reported a net profit of Rs. 39.7 crores for the Q1 FY23. The net profit was up by 33.6% as compared to the net profit of Rs. 29.7 crores in Q1 FY21. This was due to the addition of new clients and strong net flows. The net profit improved by 16% QoQ which was Rs. 34 crores. Net Flows for the quarter stood at Rs. 1,355 crores, up by 395% over same the period last year.

The company’s revenue rose by 35.7% YoY to Rs. 133.5 crores. The revenue during Q1 FY21 was Rs. 98.4 crore. The revenue was up by 17% QoQ to Rs. 110 crores.

The company has recorded strong growth for the June quarter despite challenging market situations.

The Asset Under Management (AUM) of the company for this quarter stood at Rs 32,961 crore, up by15% YoY and 0.27% QoQ. During Q1FY21 and Q4 FY22 the Asset Under Management was Rs. 27,887 crore and Rs. 32,054 crores respectively.

The total operating expenses have increased from Rs. 7067.24 lakhs to Rs. 8062.03 lakhs as compared to the previous quarter. The operating cost is up by 40.3% YoY. This was majorly due to higher employee expenses and fixed costs.

The employee expenses were up from Rs. 52 crores to Rs. 60 crores on a QoQ basis.

Mostly the RM’s expenditures or the provisioning are linked to the revenue. If you look at the revenue, it is in terms of percentage, there is hardly any change. Last year employee benefit expenses were about 45% and it is in the same range even in this financial year. So at the absolute number, it looks higher. But compared with the revenue number in terms of percentage, it is more or less the same.

There was an increase in fixed cost by 17% YoY, because now since offices are running and administrative expenses, business promotional expenses and all have come on track. So this was the normal operating first quarter post-COVID era.

The PBT margin for this quarter is 39.6% as compared to the last quarter (40.2%).

For the June quarter, the return on equity is 42.3%, and for Q1 FY22 and Q4 FY22, 44.3% and 39.8% respectively.

The Earning Per Share for this quarter is Rs. 9.5. The active clients increased 17.4% to 7,477.

 

Anand Rathi Wealth, got listed in December. The company operates in the financial services industry with a focus on mutual fund distribution and the sale of financial products.
The company started its activities in fiscal 2002 and is a registered AMFI (Association of Mutual Funds of India) mutual fund distributor.

Currently, the stock is trading at Rs. 639.45. The share price went down by 9.95 points or by 1.52% as compared to the previous close of Rs.649.45. On 15 July 2022, the stock opened at Rs. 653. The shares hit an intraday high and low of Rs. 655.65 and 638 respectively. The company’s market cap is Rs. 2661 crore.

 

 

 

 

 

 

 

 

 

 

 

 

 

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