Q1 Results 2024: The first quarter earnings is now on full swing with majors like Tata Consultancy Services (TCS), HCL Technologies, Infosys, Wipro, Jio Financial Services, HUL, HDFC Bank, Axis Bank, SpiceJet, L&T, IGL, Infosys, Paytm, Kotak Mahindra Bank, CEAT, and many others already having released their Q1 results, the first quarter earnings season is now in full swing.
Today, Tech Mahindra, Nestle India, DLF, Adani Green Energy Limited, Canara Bank, Ashok Leyland, United Breweries, Mphasis, AU Small Finance Bank, PNB Housing Finance, Mahanagar Gas, Chalet Hotels, LT Foods, Westlife Foodworld, Mahindra Holidays and Resorts India, Glenmark Life Sciences, and many others will report their first quarter results.
The coming week too will be in focus with market participants and investors keen on performance of players like Adani Wilmar, Hindustan Petroleum Corporation, Pfizer, GAIL India, Indian Oil Corporation, Castrol India, Maruti Suzuki India, Tata Steel, Mankind Pharma, ITC, Tata Motors, Dabur India, State Bank of India, among many others.
Praveen Kutty, Managing Director & CEO, DCB Bank, said, “The growth momentum of both deposits and loans are in line with our expectations. As intended, growth in deposits is higher than the growth in loans. The credit costs continue to be low and fee income is steadily increasing. We expect the cost of funds to stabilise over the next few months, thereby improving the NIM. Going forward, we expect to see a steady improvement in productivity and profitability.”
DCB Bank reported a profit growth of 3.5 per cent at Rs 131.36 crore for the first quarter of FY25, in comparison to Rs 126.93 crore recorded during the corresponding quarter of previous financial year. It posted total interest earned during the quarter in review at Rs 1489.25 crore, up 20.3 per cent as against Rs 1237.74 crore during Q1FY24. The Net Interest Income (NII) stood at Rs 497 crore.
DCB Bank posted deposit growth of 20 per cent YoY.
While the gross NPA was at 3.33 per cent during Q1FY25 as compared to 3.26 per cent during the same period last year, net NPA stood at 1.18 per cent as against 1.19 per cent during Q1FY24.
Fabric care: The fabric care segment includes fabric whitener, fabric enhancer, bar soap, detergent powder and liquid detergent. The category reported sales growth of 8.8 per cent for Q1FY25 on YoY basis. The fabric care segment recorded Q1 revenue at Rs 322.79 crore.
Dishwashing: The dishwashing segment includes dishwash bar, liquid gel, powder and scrubbers. It recorded a sales increase of 7.1 per cent YoY. The category revenue for the quarter in review stood at Rs 247.96 crore.
Household insecticides: The household insecticides segment which include mosquito repellent coil, liquid vaporizer and incense sticks, posted sales increase by 2 per cent during Q1FY25. This, the company said, has been impacted by extreme summers in North and East of India. The revenue was at Rs 50.34 crore.
Personal care: The personal care category includes body soap, hand wash and toothpaste. This category posted sales increase by 10.9 per cent during Q1 and the revenue for the quarter came in at Rs 93.28 crore.
Jyothy Labs Ltd on Thursday recorded its fiscal first quarter profit at Rs 101.69 crore, up 5.7 per cent in comparison to Rs 96.25 crore posted during the corresponding quarter of FY24. It posted revenue from operations at Rs 741.81 crore, up 8 per cent as against Rs 687.10 crore during the first quarter of previous financial year. The company EBITDA stood at Rs 132 crore, up 12.8 per cent on-year.
Nestle India’s e-commerce channel continued to accelerate with strong growth in quick commerce, driven by brands such as Kitkat, Nescafé, Maggi Masala-ae-Magic, Milkmaid and RTD. Organized Trade grew in double-digit, led by value added noodles, beverages and overall premiumization. Out of Home (OOH) category posted strong growth momentum fuelled by portfolio transformation, innovations, penetration and premiumization. Export, meanwhile, expanded its footprint by introducing new SKUs to markets in the USA, Canada, Middle East and North Africa.
Suresh Narayanan, Chairman and Managing Director, Nestlé India, said, “I am pleased to share that despite external challenges such as lower consumption growth, concerns on continued food inflation and volatile commodity prices, we have delivered growth across our product groups. Almost a fourth of our growth has been mix and volume led, and we hope to strengthen this trend in the coming months.”
“I am happy to inform you that 5 of our top 12 brands grew double-digit. Our Beverages business stood out, with strong double-digit growth, despite a scorching summer across many parts of India. Strong consumer led activation on ‘Cold opportunity’ helped NESCAFÉ CLASSIC post double-digit growth. In consonance, NESCAFÉ Sunrise, and NESCAFÉ GOLD also delivered strong growth. The launch of NESCAFÉ Roastery has further strengthened our premium coffee portfolio. In our endeavour to build cold coffee as a strategic pillar, we successfully launched Nescafé Ice Roast with encouraging response across key markets and channels,” he added.
FMCG major Nestle India on Thursday posted its fiscal first quarter profit at Rs 746.60 crore, up 6.9 per cent in comparison to Rs 698.34 crore recorded during the corresponding quarter of FY24. It posted revenue from operations at Rs 4813.95 crore, up 3.3 per cent as against Rs 4658.53 crore during the first quarter of previous financial year. The company EBITDA stood at Rs 1103 crore
The company posted total sales at Rs 4793 crore, up 3.8 per cent, with domestic sales growth at 4.2 per cent.
Swarnendu Bhushan, Co-Head of Research, Prabhudas Lilladher Pvt Ltd, said, “Petronet LNG reported an EBITDA of Rs 15.6 billion (up 41.6% QoQ, PLe: Rs12.5bn) in Q1FY25, while PAT came in at Rs 11.4 billion (up 54.8% QoQ, PLe: Rs8.6bn). Beat in estimates was primarily due to inventory/trading gain of Rs3.2bn. Total volume increased 12%/14% QoQ/YoY to 262 TBtu. Dahej terminal’s capacity utilization stood to 109%. The management expects the terminal to continue operating above 100% utilization in Q2 as well. However, we remain negative on the stock given the expensive valuations. The company is also likely to be impacted by competition from upcoming LNG terminals, rising domestic gas supply and underutilization of its Kochi terminal. Additionally, capex on its petrochemical project is likely to be margin dilutive.
Petronet LNG Ltd recorded a profit growth of 39.7 per cent on-year for the first quarter of FY25 to Rs 1100.76 crore as compared to Rs 787.73 crore recorded during the corresponding quarter of FY24. It posted revenue from operations at Rs 13,415.13 crore, up 15.1 per cent as against Rs 11,656.38 crore recorded during Q1 of previous financial year.
Jindal Steel recorded its fiscal first quarter profit at Rs 1,337.92 crore, down 20.9 per cent as compared to Rs 1,691.80 crore during the corresponding quarter of FY24. It posted revenue from operations at Rs 13,617.84 crore, up 8.2 per cent as against Rs 12,588.34 crore during the first quarter of previous financial year.
The production and sales stood at 2.05 mt (flat YoY) and 2.09 mt (+14% YoY) respectively. Jindal Steel said that the share of exports in the total revenue was 7 per cet in Q1FY25. The company’s net debt stood at Rs 10,462 crore as at June 30, 2024. Meanwhile, the balance sheet continues to strengthen while supporting the on-going capex. The total capex for the quarter was Rs 2,796 crore largely driven by the expansion projects in India.
Today, Tech Mahindra, Nestle India, DLF, Adani Green Energy Limited, Canara Bank, Ashok Leyland, United Breweries, Mphasis, AU Small Finance Bank, PNB Housing Finance, Mahanagar Gas, Chalet Hotels, LT Foods, Westlife Foodworld, Mahindra Holidays and Resorts India, Glenmark Life Sciences, and many others will report their fiscal first quarter results.
Good Morning! Welcome to this live blog where, we at FinancialExpress.com, will keep you updated on all the announcements on the fiscal first quarter performance of companies across sectors. While we will bring to you the profit and growth numbers, we will also analyse these numbers posted by different firms.
Till now, majors like TCS, HCL Technologies, Infosys, Wipro, Jio Financial Services, HUL, HDFC Bank, Axis Bank, SpiceJet, L&T, IGL, Infosys, Paytm, Kotak Mahindra Bank, CEAT, and many others already having released their Q1 results.