Q3 Results 2025: Asian Paints, Titan, Metropolis Healthcare, PC Jeweller, JK Tyre, others releasing Q3 results today

CK Venkataraman, Managing Director, Titan Company, said, “The festive quarter gone by firmly established the FY25 growth trajectory after a muted Q1 and healthy Q2. Jewellery saw its strongest quarter (yet) for the fiscal year, growing well in excess of 25% at a retail level. Consumer preference for gold, both as adornment jewellery and as a store of value continued to remain fairly strong. Our analog watches clocked a healthy retail growth of 20%, reinforcing Titan’s customer value proposition in the eyes of the consumer. EyeCare’s retail growth returning to double-digits was encouraging. The custom duty related losses on the inventory (held at the time of the duty change) have been fully realized in this quarter and hence the profitability is lower to that extent. We are committed to investing in the growth of all our businesses and specifically the emerging ones to help them scale faster. We remain optimistic on our performance and hope to end the fiscal year with a good growth over FY24.”

Titan Company Limited on Tuesday released its fiscal third quarter earnings report with profit at Rs 1,047 crore, marginally lower than Rs 1,053 crore during the corresponding quarter of FY24. It posted revenue from operations at Rs 17,740 crore, reporting a growth of 25.25 per cent in comparison to Rs 14,164 crore recorded during the third quarter of previous financial year. The company said that change in custom duty on gold impacted profitability.

The company board, on the recommendations of the Nomination and Remuneration Committee approved the below changes in the Senior Management Personnel (SMP) with effect from 25th March, 2025:

1) Pinaki Haldar, currently Vice President-Sales has decided to pursue opportunities outside the company and has tendered his resignation from the services of the company, w.e.f. the closing of business hours of March 25, 2025.

2) Kumar Gaurav Singh, currently Vice President –Marketing, will be succeeding Pinaki Haldar as Vice President – Sales.

3) Nakul Tewari, currently Director – Category Marketing will be succeeding Kumar Gaurav Singh as Vice President – Marketing.

Whirlpool of India Ltd on Tuesday released its fiscal third quarter earnings report with profit at Rs 44.53 crore, posting a growth of 48.78 per cent in comparison to Rs 29.93 crore recorded during the corresponding quarter of FY24. It posted revenue from operations at Rs 1704.85 crore, up 11.02 per cent as against Rs 1535.65 crore during the same period of previous financial year. The company EBITDA stood at Rs 69.3 crore, up 10.4 per cent YoY.

As of 31st December 2024, the company’s operational capacity is 6.7 GW in the clean & green segment, generating 11,700+ MUs of green power. Another 10 GW of projects are under execution and are poised to take its total clean energy capacity to 16.7 GW.

Dr Praveer Sinha, CEO and Managing Director, Tata Power, said, “We have delivered a sustained PAT growth trajectory over the last 21 quarters and all our businesses have been contributing to this growth. We have emerged as a clean energy leader with presence across the full value chain of manufacturing, EPC, and development of renewable projects along with retail supply through group captives.

Our recent wins in large-scale transmission projects reaffirm our expertise and commitment to evacuation and supply of power nationwide and put us at the centre of the development of upcoming Green Energy Corridors. As the Government is looking for active partnerships with private players and the amendment to the Nuclear Power Act to set up nuclear energy capacity, we will take up the opportunities to set up small modular nuclear reactors.”

Tata Power Co Ltd on Tuesday released its fiscal third quarter earnings report with profit at Rs 1,187.54 crore, posting a growth of 10.35 per cent in comparison to Rs 1,076.12 crore during the corresponding quarter of FY24. It posted revenue from operations at Rs 15,391.06 crore, reporting a growth of 5.05 per cent as against Rs 14,651.00 crore during the same period of previous financial year. The company EBITDA stood at Rs 3,353 crore, up 38.6 per cent YoY.

NSE India (National Stock Exchange of India Ltd) on Tuesday released its fiscal third quarter earnings report with profit at Rs 3,833.58 crore, posting a jump of 94.07 per cent in comparison to Rs 1,975.34 crore during the corresponding quarter of FY24. It posted revenue from operations at Rs 4,349.41 crore, up 23.68 per cent as against Rs 3,516.56 crore during the same period of previous financial year. Operating EBITDA for Q3 stood at Rs 3,398 crore.

Upasana Taku, Executive Director, Co-founder & CFO, One MobiKwik Systems Ltd, said, “MobiKwik continues to make significant investments in product innovation and development, reflected in our strong growth in the payments business. We continue to see healthy margins across businesses, supporting overall growth. With a successful IPO behind us and access to additional capital, we are confident of driving the business towards long-term value creation and profitable growth.”

Registered User Base: 172 million as on 31 Dec 2024; up 13.9% YoY

Merchants: 4.5 million as on 31 Dec 2024; up 16.2% YoY

Newly added in Q3FY25: 5 million users; 110 K merchants

One Mobikwik Systems Ltd on Tuesday released its fiscal third quarter earnings report with loss at Rs 55.28 crore in comparison to a profit of Rs 5.27 crore recorded during the corresponding quarter of FY24. It posted revenue from operations at Rs 269.48 crore, up 17.71 per cent as against Rs 228.93 crore during the same period of previous financial year. The company posted EBITDA loss at Rs 48 crore.

During the quarter, Thermax completed the acquisition of 100 per cent of the equity share capital of Buildtech Products India Pvt Ltd, a company manufacturing admixtures, accelerators and capsules used in tunnels, infrastructure and railway projects. This acquisition adds to Thermax’s presence in the construction chemicals sector.

As of December 31, 2024, the order balance for the quarter was at Rs 11,383 crore (Rs 10,717 crore), up 6 per cent from the corresponding quarter of the previous year. The order booking for the quarter stood at Rs 2,296 crore, posting an 8 per cent decrease compared to Rs 2,506 crore in the same quarter of the previous fiscal year.

Thermax Ltd on Tuesday released its fiscal third quarter earnings report with profit at Rs 115.90 crore, posting a drop of 51.37 per cent in comparison to Rs 238.34 crore during the same period of previous financial year. It posted revenue from operations at Rs 2507.76 crore, up 7.89 per cent as against Rs 2324.36 crore during the third quarter of FY24. The company EBITDA stood at Rs 189 crore. “The current quarter’s results are affected by lower margins in certain orders within the Industrial Infra segment and the impact of product mix changes in the Chemicals segment,” it said in a regulatory filing.

Investment in Kajaria Ultima Private Limited (KUPL): The Board has approved an investment upto Rs 30 crore in KUPL to purchase land in Morbi. KUPL plans to put up a large format tile manufacturing facility in Morbi at a later date.

Investment in manufacturing facility for tile adhesives: The Board has approved an investment of Rs 15 crore to set up a manufacturing facility for tile adhesives in Gailpur, Rajasthan. The plant is likely to come on stream by the end of April 2025.

Kajaria Ceramics Ltd on Tuesday recorded a profit of Rs 77.74 crore for the fiscal third quarter, posting a decline of 25.39 per cent in comparison to Rs 104.19 crore during the corresponding quarter of FY24. It posted revenue from operations at Rs 1,163.71 crore, up 1.04 per cent as against Rs 1,151.75 crore during the same period of previous financial year, reflecting tepid demand in the tiles segment. The company EBITDA declined by 16.8 per cent YoY to Rs 148.8 crore.

• Consolidated Net Sales decreased by 4.5% to Rs 25,467.8 crore from Rs 26,680.7 crore.

• PBDIT [Profit before depreciation, interest, tax, other income, and exceptional items] decreased by 22.5% to Rs 4,570.0 crore from Rs 5,893.6 crore.

• PBDIT Margin as % to Net Sales at 17.9% from 22.1% in the previous year.

• Profit before exceptional items and tax decreased by 25.6% to Rs 4,261.0 crore from Rs 5,723.7 crore.

• Net Profit after minority interest decreased by 29.2% to Rs 2,975.1 crore from Rs 4,203.5 crore.

Amit Syngle, Managing Director & CEO of Asian Paints Limited, said, “The paint industry continued to be impacted by subdued demand conditions during the quarter, especially in the urban centers. We registered a 6.6% decline in overall coatings business in India, including Industrial. The domestic decorative business delivered a 1.6% volume growth while the standalone revenues declined by 7.5% for the quarter impacted by the weak festive season demand. While we saw sequential improvement in operating margins, the adverse mix coupled with increased sales and distribution expenses affected operating margins on a year on year basis. The Industrial Business fared better with revenues growing by 3.8% supported by growth in the General Industrial and Refinish segments. We continued to see growth in our Home Décor Business progressing on our network expansion journey.”

“On the International side, the portfolio registered 5% growth (17.1% in constant currency terms) driven by growth in the Middle East and recovering macro-economic conditions in key Asian markets. In the near term, we remain cautiously optimistic on a recovery in demand conditions while we continue to invest in our brand and focus on innovation and customer centricity,” he added.

Asian Paints Ltd on Tuesday posted a profit of Rs 1128.43 crore for the third quarter of FY25, recording a drop of 23.50 per cent in comparison to Rs 1475.16 crore during the corresponding quarter of FY24. It posted revenue from operations at Rs 8521.51 crore, down 6.10 per cent as against Rs 9,074.94 crore during the third quarter of previous financial year. The company EBITDA stood at Rs 1637 crore.

Pirojsha Godrej, Executive Chairperson, Godrej Properties Limited, said, “Godrej Properties delivered a record-breaking calendar year 2024 with its highest ever bookings, collections, operating cashflows, earnings and deliveries. The third quarter of financial year 2025 was the 6th consecutive quarter of more than Rs 5,000 crores bookings underlying the sectoral tailwinds for the residential real estate sector in India. With a robust launch pipeline, strong balance sheet, and resilient demand, we are on-track to surpass our bookings guidance of Rs 27,000 cores in FY25 while also achieving our highest ever cash collections, deliveries, earnings and operating cash flow. We remain focused on building scale through continued market share gains and margin expansion.”

Godrej Properties Ltd on Tuesday posted a profit of Rs 162.64 crore for the third quarter of FY25, recording a jump of 161.19 per cent in comparison to Rs 62.27 crore during the corresponding quarter of previous financial year. It reported Q3 revenue from operations at Rs 968.88 crore, up 193.21 per cent as against Rs 330.44 crore during the same period of FY24. The company EBITDA came in at Rs 27.6 crore vs EBITDA loss of Rs 41.5 crore YoY. Godrej Properties delivered its highest ever bookings, collections, operating cash flow, earnings, and deliveries in a calendar year in 2024, the company said in a statement.

Bajaj Electricals has approved the grant of 1,645 Stock Options under the PSOP Plan 2023 to eligible employees of the company. “We wish to inform you that the Nomination and Remuneration Committee of the Board of Directors of Bajaj Electricals Limited, at its meeting held today, i.e., on February 4, 2025, has approved the grant of 1,645 Stock Options under the PSOP Plan 2023 to one (1) eligible employee of the Company in accordance with the Securities and Exchange Board of India (Share Based Employee Benefits and Sweat Equity) Regulations, 2021,” the company said in a regulatory filing.

Bajaj Electricals Ltd on Tuesday released its fiscal third quarter earnings report with profit at Rs 33.36 crore, down 10.71 per cent in comparison to Rs 37.36 crore during the same period of previous financial year. It posted revenue from operations at Rs 1289.72 crore, up 5.01 per cent as against Rs 1228.24 crore recorded during the third quarter of FY24. The company EBITDA stood at Rs 87.3 crore, up 51.6 per cent YoY.

Safari Industries (India) Ltd on Tuesday released its fiscal third quarter earnings report with profit at Rs 31.14 crore, posting a decline of 27.45 per cent in comparison to Rs 42.92 crore during the corresponding quarter of FY24. It posted revenue from operations at Rs 442.71 crore, up 14.01 per cent as against Rs 388.30 crore during the same period of previous financial year. The company EBITDA stood at Rs 418.6 crore, up 2.7 per cent YoY.

Elara Securities said, “Aster DM Healthcare (ASTERDM IN) reported Q3FY25 below our estimates – revenue, EBITDA and PAT missed by 6%, 21% and 30%, respectively. The sharp improvement in occupancy and margin, witnessed in Q2, got partly reversed in Q3, causing the shortfall in revenue and profit vs our estimates. Kerala cluster performance was lackluster with occupancy down 550bp YoY and revenue down 2% YoY. Karnataka & Maharashtra and Andhra Pradesh & Telangana clusters continue to post robust growth. The proposed merger process with Quality Care India (QCIL) is progressing well; closure timeline remains Q3FY26. Management did not provide additional colour on the combined entity financials.”

Elara Securities said, “Mahindra Lifespace (MAHLIFE IN) has reported presales of Rs 3.3bn (Rs 2.75bn: Elara estimates), down 25% YoY and 16% QoQ. This has translated into lower residential collections of Rs 3.7bn, down 5% YoY and 20% QoQ. The developer diversified its pipeline in Mumbai Metropolitan Region (MMR) with the acquisition of land at Bhandup, Mumbai (37 acres), amounting to a total gross development value (GDV) of Rs 120bn. This takes MAHLIFE’s business developments (BDs) for 9MFY25 to Rs 140bn.

MAHLIFE initiated two acquisitions in CY25: ~1) ~8 acres were acquired in Bengaluru equating to a GDV of Rs 10bn and 2) cluster redevelopment of three societies at a premium residential location in Mumbai (Andheri West) offering a GDV of Rs 9.5bn. Expect overall presales for Q4FY25E to be aided by at least Rs 30bn of planned new launches. Leasing in the Integrated Cities/Industrial Clusters (IC & IC) segment in Q3 was steady at a total of ~13 acres, generating a leasing income of ~Rs 460mn.”

An analyst report by Motilal Oswal Financial Services stated, “Divi’s Laboratories (DIVI) delivered in-line revenue. However, it reported better-than-expected EBITDA/PAT led by a better product mix and lower tax rate (due to the shift to a new tax regime). The custom synthesis (CS) business continues to improve for eight quarters now. The generics business has been gradually witnessing stability on a QoQ basis. DIVI has been fortifying its growth drivers in CS through its focus on subsegments, such as peptides and contrast media. It is also adding newer molecules in the generics space. To support customers, it is also building capacities for their future needs. Further, the cash of Rs 36 billion provided enough cushion to drive up projects if required.”

Religare Enterprises Ltd released its fiscal third quarter earnings report with a loss of Rs 63.28 crore in comparison to a profit of Rs 33.58 crore recorded during the corresponding quarter of FY24. It posted revenue from operations at Rs 1664.43 crore, up 10.18 per cent as against Rs 1510.58 crore during the same period of previous financial year.

Elara Securities said, “Vishal Mega Mart’s (VMM IN) Q3 performance remained robust in terms of revenue and PAT, while EBITDA margins were hit by higher employee cost led by ESOP charges in Q3 and other expenses. VMM is on track to open new stores and its mix is healthy (in favor of apparel). We maintain our positive stance based on VMM’s long-term growth trajectory considering aggressive store openings, strong category mix and high share of private labels.”

Stove Kraft posted Q3FY25 revenue at Rs 4 bn, up 12% yoy and down 3% qoq. Gross margin was at 37.6%. EBITDA at Rs 404 mn, up 35% YoY.

JM Financial said, “Small appliances continue to lead the growth with (1) new launches and (2) increasing share of premium products. Further, we expect margins to be marginally short of guided 11% (JMFe at 10.8%) for FY25. Medium/long term – We expect very strong improvement in demand mainly due to (1) demand revival from tier 2/3 cities, (2) market share gains from unorganised players and (3) increased product portfolio with distribution expansion. Additionally, Stove Kraft to see a rapid growth in export business + market share gain in kitchen appliances.”