Lower expenses drive profit number; firm had incurred a loss in the same period a year ago
The Street had factored in a drop of 2-4 per cent in Q4 volume growth on account of the Covid-19 outbreak and subsequent lockdown but 7% decline was a surprise for many.
The company looks to raise Rs 53,125 crore through this rights issue, which will be the first by RIL in three decades
With a 7% fall in volumes, topline declined by 9% and pre-tax profit by 11%; analysts see more pressure in coming quarters
At the net profit level, aided by lower interest costs, the company recorded a growth of 73 per cent on a sequential basis and nearly trebled over the year-ago period.
Net profit rose 26.3 per cent year-on-year at Rs 175 crore while it increased 4.3 per cent on a sequential basis for January-March.
the bank reported a 17 per cent increase in its operating profit at Rs 5,851 crore in the March quarter
The lender reported a 45 per cent jump in net interest income at Rs 3,232 crore in Q4 FY20
Insurer's full-year income halves to Rs 20,843 crore from Rs 41,523 crore in FY19
Provisioning costs higher than expected; FY21 EPS estimated to decline by 2-4 per cent
Top brokerages expect a 19 per cent year-on-year (YoY) fall in the combined net profit of India's top 50 listed companies, while their combined net revenue may decline by 5.2 per cent in Q4
The numbers are largely in line with street expectations. Brokerages (on an average basis) expected net profit or profit after tax (PAT) for the quarter to fall 0.3 per cent QoQ to Rs 8,095.4 crore.
Firms says large part of impact was felt as Diwali season moved more into third quarter, boosting Q3 sales at the cost of Q4
Earnings were hit by a combination of lower demand growth and relatively fast growth in interest, depreciation, and tax outgo during the quarter
The increase in PAT was due to continued focus on productivity, cost efficiency and reduced advertising spend during the quarter, the company said
The full-year net profit growth is down 13.5% in FY19 over FY18 for the sample
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Stocks of such companies gained 15%, against a 6% rise in the benchmark index