Q3 Results 2025: Vedanta profit surges 70.01%; Pfizer profit down 1.83%

Pfizer Ltd on Friday released its fiscal third quarter earnings report with profit at Rs 127.60 crore, posting a drop of 1.83 per cent in comparison to Rs 129.98 crore during the same period of previous financial year. It posted Q3 revenue from operations at Rs 537.99 crore, marginally lower than Rs 539.97 crore during the third quarter of FY24. The company EBITDA stood at Rs 146 crore, down 4.4 per cent YoY.

Godrej Agrovet approved raising funds through additional borrowings upto an amount of Rs 1,000 crore in terms of the shareholders approval dated June 19, 2018.

Godrej Agrovet Ltd on Friday released its fiscal third quarter earnings report with profit at Rs 109.85 crore, up 32.41 per cent in comparison to Rs 82.96 crore during the corresponding quarter of FY24. It posted revenue from operations at Rs 2449.63 crore, reporting a growth of 4.45 per cent as against Rs 2345.21 crore during the third quarter of previous financial year. The company EBITDA was up 38.4 per cent YoY at Rs 220 crore.

Mike Frank, CEO, UPL Corporation Ltd, said, “The global crop protection market continues to rebound as farmers and dealer buying patterns are now reset. Our volume growth of 14% in this past quarter demonstrates continued strong demand across regions, and our ability to increase market share. Through our focus on customers, driven by investments in marketing excellence, new launches and differentiated solutions, we have improved our margins, as compared to the last few quarters. We expect benefits from this to continue in Q4 as well as in the next financial year.”

Jai Shroff, Chairman and Group CEO, said, “We are seeing strong bounce back versus last year, with normalization of business, and recovery of volumes and prices. This has helped in regaining our contribution margins back to our previous higher levels. Through strong focus, the team has done a commendable job in bringing down the working capital, resulting in a significant reduction of our net debt versus September, 2024. With this strong performance, we are confident of delivering our EBITDA and free cash flow guidance for the full year.”

UPL Limited on Friday released its fiscal third quarter earnings report with profit at Rs 828 crore in comparison to a loss of Rs 1217 crore recorded during the third quarter of FY24. It posted revenue from operations at Rs 10,907 crore, up 10.32 per cent as against Rs 9,887 crore during the same period of previous financial year, driven by 9 per cent increase in volumes, 5 per cent increase in price and 4 per cent decline due to Fx, mainly in Brazil. The company EBITDA stood at Rs 2,162 crore.

Consolidated R&D investments were at Rs 845.0 crore for Q3FY25 or 6.3 per cent of sales as compared to Rs 824.50 crore for Q3 last year. For the first nine months, R&D expense was Rs. 2431.90 crore, or 6.2 per cent of sales. “Our R&D efforts span across both specialty and generic businesses and we continue to invest in building the pipeline for various markets including the US, Emerging Markets, RoW Markets and for India. We have a comprehensive product offering in the US market consisting of approved ANDAs for 541 products while filings for 109 ANDAs await US FDA approval, including 28 tentative approvals. Additionally, the portfolio includes 51 approved NDAs while 13 NDAs await US FDA approval. For the quarter, 6 ANDA were filed and 2 ANDA approvals were received,” the company said.

Dilip Shanghvi, Chairman and Managing Director, Sun Pharma, said, “Our performance in the quarter showed all-round improvement. Product sales in Global Specialty crossed 1/5th of overall sales. Our market share gain in India has been driven by industry leading volume growth. Emerging Markets demonstrated strong performance in spite of currency challenges across geographies. All our businesses remain well positioned for future.”

Sun Pharma declared an interim dividend of Rs 10.50 per equity share of Re 1 each of the company for the financial year 2024-25. “As intimated on January 16, 2025, the Record Date for entitlement of interim dividend for the financial year 2024-25 is February 06, 2025. The interim dividend shall be paid on or before February 20, 2025,” it said in a regulatory filing.

Sun Pharmaceutical Industries Ltd on Friday released its fiscal third quarter earnings report with profit at Rs 2903.38 crore, posting a growth of 15.04 per cent in comparison to Rs 2523.75 crore during the corresponding quarter of FY24. It posted revenue from operations at Rs 13,675.46 crore, up 10.46 per cent as against Rs 12,380.70 crore during the same period of previous financial year. The company EBITDA stood at Rs 4009.0 crore (including other operating revenues), up 15.3 per cent, with resulting EBITDA margin of 29.3 per cent. Sun Pharma recorded gross sales at Rs 13,436.90 crore, up 10.5 per cent.

Ajay Goel, CFO, Vedanta, said, “This quarter marks a stellar performance, delivering the highest Q3 EBITDA of Rs 11,284 crore, a remarkable 30% growth year-on-year, with a robust EBITDA margin of 34%. Our PAT stood at Rs 4,876 crore, reflecting an exceptional 70% YoY growth, showcasing the resilience of our business. This success has been driven by our focus on cost efficiencies, volume growth, and favourable commodity prices. The recent upgrade in our credit rating, along with a leverage improvement to 1.4x, highlights our financial strength and the market’s confidence in Vedanta’s growth trajectory.”

Arun Misra, Executive Director, Vedanta Limited, said, “We have delivered our highest-ever 3rd Quarter EBITDA of Rs 11,284 crore. Our strategic focus on cost optimization and production ramp-up across our key businesses has helped us to continue delivering this outperformance. Notably, we witnessed 58% YoY jump in EBITDA at our Aluminium business and 28% YoY increase in our Zinc India business. We expect this outperformance to continue in the coming quarters driven by our ongoing growth initiatives and business integration projects.”

Vedanta Limited on Friday released its fiscal third quarter earnings report with profit at Rs 4,876 crore, reporting a growth of 70.01 per cent in comparison to Rs 2,868 crore during the same period of previous financial year. It posted revenue from operations at Rs 38,526 crore, up 10.18 per cent as against Rs 34,968 crore during the same period last year. The company recorded its highest ever third quarter EBITDA at Rs 11,284 crore, up 30 per cent YoY.

Marico declared an Interim Equity Dividend for the Financial Year 2024-25 of Rs 3.50 per equity share of Re 1 each. “As intimated vide our letter dated January 16, 2025, the record date for reckoning the list of shareholders who shall be entitled to receive the said interim dividend shall be Friday, February 7, 2025. The Interim dividend will be paid to such shareholders on or before Sunday, March 2, 2025,” it said in a regulatory filing.

Marico Ltd on Friday released its fiscal third quarter earnings report with profit at Rs 399 crore, up 4.18 per cent in comparison to Rs 383 crore recorded during the same period of previous financial year. It posted revenue from operations at Rs 2,794 crore, reporting a growth of 15.36 per cent as against Rs 2,422 crore during the third quarter of FY24. The company recorded underlying volume growth of 6 per cent in the India business and constant currency growth of 16 per cent in the international business. Consolidated and domestic revenue growth, as well as underlying volume growth in the India business, stood at a 13-quarter high. The company EBITDA stood at Rs 533 crore.

Punjab National Bank recorded gross NPA during the quarter at 4.09 per cent as against 6.24 per cent in the year ago period. Net NPA, meanwhile, was at 0.41 per cent in comparison to 0.96 per cent during Q3FY24.

Punjab National Bank on Friday released its fiscal third quarter earnings report with profit at Rs 4508.21 crore, posting a jump of 102.82 per cent in comparison to Rs 2222.81 crore during the same quarter of FY24. The total income for the quarter in review stood at Rs 34,751.70 crore, up 15.99 per cent as against Rs 29,961.65 crore during the third quarter of previous fiscal year. Net Interest Income (NII) stood at Rs 11,032.2 crore.

Panama Petrochem Ltd on Friday posted a profit of Rs 48.50 crore during the third quarter of FY25, reporting a growth of 17.26 per cent in comparison to Rs 41.36 crore during the corresponding quarter of previous financial year. It recorded revenue from operations at Rs 727.97 crore, up 42.23 per cent as against Rs 511.83 crore reported during the third quarter of FY24. The company EBITDA stood at Rs 63 crore, up 11 per cent YoY.

• E-commerce: Acceleration aided by quick commerce, consumer acquisition, festival activation and premiumization. Kitkat, Nescafé, Maggi further fuelled growth.

• Organized Trade: Retail business continued its growth journey led by Maggi noodles, beverages and overall premiumization.

• Out of Home (OOH): One of the fastest growing businesses driven by continued portfolio transformation and premiumization, robust customer acquisition and geographical expansion beyond metros and mega cities. Expanded presence with Nestlé Retail One Kiosks to 940+ across colleges, hospitals, and tourist hotspots.

• Export: Registered strong growth across key international markets powered by nutrition, Instant Tea and confectionery while the coffees export continued to sustain double-digit growth. Nestlé Munch, Nescafé Sunrise, Maggi Masala-Ae-Magic were extended to new markets in the United States and the United Arab Emirates.

Nestle India board declared the company’s second interim dividend of Rs 14.25 per equity share of the face value of Re 1 each for the Financial Year 2024-25 on the entire issued, subscribed and paid-up share capital of the Company of 964,157,160 equity shares, which will be paid on and from 27th February 2025 to those members whose names appear in the Register of Members of the Company.

Nestle India Ltd on Friday released its fiscal third quarter earnings report with profit at Rs 688.01 crore, posting a growth of 4.94 per cent in comparison to Rs 655.61 crore during the corresponding quarter of FY24. It reported revenue from operations at Rs 4779.73 crore, up 3.90 per cent as against Rs 4600.42 crore during the same period of previous financial year.

Elara Securities said, “Tata Consumer Products’ (TATACONS IN) core tea portfolio saw strong volume revival in Q3, remaining competitive despite high inflation. We expect sustained benefits from tea inflation, supporting near-term growth. NourishCo’s recovery post-pricing corrections was positive and should aid strong momentum. While high inflation and slower urban growth pose near-term challenges, TATACONS’ diverse product range and distribution expansion offer strong visibility for double-digit sales growth and margin expansion.”

Elara Securities said, “While Shree Cement (SRCM) lagged peers, UltraTech Cement (UTCEM IN) and Ambuja Cements (ACEM IN) in terms of volume performance, reporting ~1% YoY drop, its QoQ EBITDA/tonne growth of ~Rs 300 outpaced UTCEM’s Rs 226 rise and ACEM’s Rs 243 dip. SRCM has re-emerged as a margin leader in the cement industry with EBITDA/tonne of Rs 1,079, due to higher exposure to North India and lower power and fuel cost. With new capacity expected to come on stream in Q1FY26 and base turning favorable from Q2FY26, we believe volume underperformance by SRCM is unlikely to continue in the long term. Further, most of the capex cost continues to be lower than the acquisition cost for peers, which should enable it to earn a better ROCE than peers with a lean balance sheet. Also, SRCM’s capacity is likely to remain more skewed to North India, where utilization is expected to be higher than pan-India average.”

InCred Equities said, “Dabur India (Dabur) reported a 1.4% yoy standalone sales growth with a 1.2% volume growth in Q3FY25. The home and personal care (HPC) segment grew by 5.7% yoy led by a 9% growth in oral care, 3% growth in hair care and 5%/6% growth in home care/skincare segments, respectively. The beverage business declined by 10.3% yoy led by weakness in the J&N category (juices & nectars), which was impacted by muted festive demand and the ongoing cola wars. The food segment grew by 30% yoy led by the Hommade range. The Badshah range grew by 15.5% yoy led by double-digit volume growth. The healthcare range declined by 1.3% yoy (vs. 13% growth clocked by Emami) led by a 3.4% yoy decline in health supplements and flat growth in OTC & ethicals. The digestive range grew by 3.9% yoy led by NPDs (15% salience to the Hajmola range). Rural markets continued to outperform urban markets by 140bp, with urban markets continuing to moderate.”

Net R&D investments for the quarter were at Rs 199 crore, representing 7% of revenue ex-Syngene.

Peter Bains, Group CEO, Biocon Limited, said, “Biocon Group’s Q3FY25 financial performance was led by 10% like-for-like growth in Operating Revenue. The strengthening of operational building blocks has improved growth visibility across all three businesses, reinforcing our confidence in continued growth for the rest of this fiscal year and beyond. The Biosimilars business sustained its growth momentum in this quarter and now has a clear line of sight for multiple new product launches beginning in Q4FY25. Syngene’s growth rebound this quarter sets a positive trajectory for the remainder of the year. Recovery in the Generics business in the fourth quarter will be driven by the launch of our first GLP-1 generic in the UK and EU, coupled with new speciality product launches in the US.”

Kiran Mazumdar-Shaw, Chairperson, Biocon Group, said, “The Biocon Group reported Q3FY25 Operating Revenue of Rs 3,821 crore, with performance driven by a sustained double-digit growth of 14% on a like-for-like basis in Biosimilars and a return to growth in Research services, which grew by 11%. The growth trajectory is clearly visible with sequential growth across all the three business segments this quarter. EBITDA at Rs 787 crore, reported a growth of 16% while Profit before Tax and Exceptional Items at Rs 138 crore, improved significantly from a marginal loss last year, on a like-for-like basis. Syngene’s return to growth, combined with global approvals for bUstekinumab and European approval for gLiraglutide, will pave the way for launches and drive growth in Q4 and beyond. These developments will strategically position the Biocon Group for enhanced long-term growth.”

Biocon Ltd released its fiscal third quarter earnings report with profit at Rs 25.10 crore, recording a drop of 96.20 per cent in comparison to Rs 660.00 crore during the corresponding quarter of FY24. It posted revenue from operations at Rs 3821.40 crore, down 3.35 per cent as against Rs 3953.70 crore during the same period of previous financial year. The company EBITDA stood at Rs 787 crore.

JM Financial said, “We believe BAF is one of the only few large cap companies across our financials coverage which will grow 20%+ over the couple of years (25% CAGR over FY24-27E) with healthy profitability (avg RoA/RoE of 4.1%/21% over FY25-27E). Moreover, it was the first company to proactively identify current stress in unsecured segments and therefore cut down its exposure to these segments (currently nil exposure to MFI loans). We believe the current valuations at 23x FY26e/18x FY27e EPS offers an attractive opportunity given its strong RoA/RoE profile and ability to grow across cycles. We roll forward our estimates to FY27E and expect earnings CAGR of 25% over FY24- 27E with consistent 4%+ RoAs and 20%+ RoEs.”

Today, majors including Nestle India, Punjab National Bank, Marico, Vedanta, Pfizer, IndusInd Bank, Sun Pharmaceutical Industries, Oil and Natural Gas Corporation, Vishal Mega Mart, UPL, Triveni Turbine, Vadilal Industries, Unicommerce Esolutions, Vadilal Enterprises, Relaxo Footwears, LIC Housing Finance, Poonawalla Fincorp, Nuvama Wealth Management, Medplus Health Services, Mahindra Holidays and Resorts India, Mahindra Lifespace Developers, Inox Wind, Jubilant Pharmova, Inox Wind Energy, Karnataka Bank, Inox Green Energy Services, Godrej Agrovet, Aster DM Healthcare Ltd, Bandhan Bank, City Union Bank, and others will announce their Q3FY25 results.