Q1 Results 2024: With many majors like Tata Consultancy Services (TCS), HCL Technologies, Infosys, Wipro, Tech Mahindra, Infosys, Nestle India, HUL, Nestle, Adani Wilmar, GCPL, LIC, Reliance Industries, IOCL, HPCL, Bharti Airtel, HDFC Bank, SBI, Paytm, Vedanta, TVS Motor, M&M, Tata Motors, Maruti Suzuki, BSE Limited, and many others already having released their Q1 results, the first quarter earnings season is now in full swing.
Today, others like Siemens, Trent, Zydus Lifesciences, Info Edge India, General Insurance Corporation of India, Alkem Laboratories, Berger Paints India, IRB Infrastructure Developers, Metro Brands, Suven Pharmaceuticals, Inox Wind, Honasa Consumer, MMTC, Shipping Corporation of India, India Cements, Inox India, Hindware Home Innovation, Liberty Shoes, Birla Cable, among 200 others are to release their quarter results.
Companies across sectors will continue to release their quarter numbers this Saturday as well with many like Aurobindo Pharma, APL Apollo Tubes, Reliance Communications, Finolex Cables, Metropolis Healthcare, Stove Kraft, Kamdhenu Ventures, TVS Electronics, and over 100 companies ready to make the announcement tomorrow.
Oil India Ltd reported its fiscal first quarter profit at Rs 2016.30 crore, posting a growth of 44.1 per cent in comparison to Rs 1399.49 crore during the corresponding quarter of FY24. It posted revenue from operations at Rs 9350.89 crore, up 45.9 per cent as against Rs 6408.76 crore during the same period of previous fiscal year.
Oil India also registered growth in its Crude Oil and Natural Gas production with an increase of 6.22 per cent in crude oil while the natural gas production was up by 9.80 per cent in Q1FY25 vis a vis Q1FY24.
Amarendu Prakash, Chairman, SAIL, said, “Domestic steel consumption continues to grow steadily, driven by both traditional and emerging sectors. Additionally, ongoing Government investments in the infrastructure sector, as announced in the recent budget, are expected to bolster growth. With a positive outlook for the domestic steel sector, SAIL is focused on increasing its production volumes. The challenges posed by cheaper imports are anticipated to be addressed appropriately in the future.”
Steel Authority of India Limited (SAIL) reported its first quarter earnings for FY25 with a profit decline of 61.5 per cent at Rs 81.78 crore in comparison to Rs 212.48 crore recorded during the first quarter of FY24. It posted revenue from operations at Rs 23,997.81 crore, down 1.5 per cent as against Rs 24,359.10 crore posted during the corresponding quarter of previous financial year. The company EBITDA stood at Rs 2200 crore.
The company board has declared an interim dividend for FY 2024-25 of 40 per cent i.e. Rs 2.00 per equity share of face value of Rs 5 each amounting to Rs 121.86 crore. The record date for the purpose of payment of interim dividend, as intimated earlier will be 17.08.2024. The Interim dividend will be paid/ dispatched to the shareholders on or after 23.08.2024. The payment of dividend will be made within 30 days of its declaration, the company said in a regulatory filing.
Container Corporation of India Ltd reported its Q1 earnings for FY25 with profit at Rs 259.42 crore, up 5.8 per cent in comparison to Rs 245.19 crore during the corresponding quarter of FY24. It posted revenue from operations at Rs 2103.13 crore, posting a growth of 9.4 per cent as against Rs 1922.84 crore during the same period of previous financial year. The company EBITDA stood at Rs 441.6 crore, up 11.6 per cent YoY.
Siddhartha Mohanty, CEO & MD, LIC, said, “During the first quarter of this financial year, our market share increased to 64.02% as compared to 61.42% for the same quarter of previous year and 58.87% for the full year ended March 31, 2024. LIC is progressing on its stated objective of gaining market share after having focused, during the last year, on consolidating changes in product mix, channel mix and margin improvement. The momentum around increasing share of Non Par products within the Individual segment continues and our Non Par Share, on an APE basis, within the Individual business has increased to 23.94% in the first quarter of FY25 as compared to 10.22% for the same quarter last year. While achieving these growth parameters our margin is stable and our expenses ratio has declined by 98 bps to 11.87% in this quarter.”
“We are committed to further optimizing our product and channel mix and improvement of margins. With the digital transformation exercise underway we intend to create a seamless experience for our customers and partners,” he said.
LIC said that it has sold a total of 35,65,519 policies in the individual segment during the quarter ended June 30th, 2024 as compared to 32,16,301 policies sold during the quarter ended June 30th 2023, registering a growth of 10.86 per cent.
Life Insurance Corporation of India (LIC) reported its first quarter for FY25 with profit at Rs 10,461 crore as compared to Rs 9,544 crore for the quarter ended June 30th, 2023 registering a growth of 9.61 per cent. “In terms of market share measured by First Year Premium Income (FYPI), LIC continues to be the market leader by market share in the Indian life insurance business with overall market share of 64.02 per cent. For the quarter, LIC had a market share of 39.27 per cent in Individual business and 76.59 per cent in the Group business,” the company stated.
The Total Premium Income for quarter Rs 1,13,770 crore as compared to Rs 98,363 crore for the quarter ended June 30th 2023, posting a growth of 15.66 per cent. The Total Individual Business Premium for Q1 increased to Rs 67,192 crore from Rs 62,773 crore for the comparable period of previous year, up 7.04 per cent. The Group Business total premium income for Q1FY25 was Rs 46,578 crore as compared to Rs 35,590 crore for the quarter ended June 30th 2023, showing an increase of 30.87 per cent.
Jagadish Nangineni, Managing Director, SOBHA Limited, said, “SOBHA’s strong performance in Q1-25 was supported by robust housing demand across all our operational markets and a steady focus on efficient execution. This resulted in impressive sales, exceptional real estate collections, and the highest average price realization of Rs. 15,941 per sft. A significant portion of this price realization can be attributed to our shift in inventory mix towards luxury and super-luxury projects. Our strong sales performance demonstrates that customers continue to appreciate SOBHA’s high-quality homes. With a healthy pipeline of 18.30 mn. sft. of residential projects set to be launched in the coming quarters, we anticipate further enhancement of our growth trajectory. Additionally, the recently concluded rights issue will enhance our financial and operational strength, positioning us to capitalize on growth opportunities in India‘s vibrant economic environment and enter new markets.”
Sobha Limited posted a strong quarterly performance ending June 30, 2024. The overall sales value for Q1FY25 was recorded at Rs 1874.00 crore, up 28 per cent YoY Gurgaon contributed 45.5 per cent to the total sales value with Rs 852.00 crore, marking its highest-ever quarterly sales value; followed by Bangalore, contributing 33.5 per cent to the total sales value in Q1FY25. Kerala saw a year-on-year growth of 5.8 per cent. Gift City achieved a milestone by recording its highest-ever quarterly sales value, growing by 81.2 per cent compared to Q1FY24.
The company posted the best ever average price realization of Rs 15,941 per sqft, up 51.7 per cent YoY. Sobha Ltd sold 562 units with a total saleable area of 1.17 million sqft across all regions in Q1FY25.
Sobha Limited reported its fiscal first quarter profit at Rs 6.06 crore, posting a decline of 49.7 per cent in comparison to Rs 12.05 crore during the corresponding quarter of FY24. It posted revenue from operations at Rs 640.40 crore, up 29.5 per cent as against Rs 907.91 crore during the same period of previous financial year. The company EBITDA stood at Rs 55.7 crore, down 14.7 per cent YoY.
Today, companies like Siemens, Trent, Zydus Lifesciences, Info Edge India, General Insurance Corporation of India, Alkem Laboratories, Berger Paints India, IRB Infrastructure Developers, Metro Brands, Suven Pharmaceuticals, Inox Wind, Honasa Consumer, MMTC, Shipping Corporation of India, India Cements, Inox India, Hindware Home Innovation, Liberty Shoes, Birla Cable, among 200 others will release their quarter results.
With major companies like TCS, HCL Technologies, Infosys, Wipro, Tech Mahindra, Infosys, Nestle India, HUL, Nestle, Adani Wilmar, GCPL, LIC, Reliance Industries, Bharti Airtel, HDFC Bank, SBI, Paytm, Vedanta, TVS Motor, M&M, Tata Motors, Maruti Suzuki, and many others already having released their Q1 results, we have been continuously bringing all the updates on the numbers released and also analysing these numbers with the help of brokerage firms.
This live blog too will bring in all the updates on the Q1 numbers being reported today.
Stay tuned.