Q3 Results: DLF, Interglobe Aviation, Godrej Consumer, NIIT, Bank of India, others releasing Q3 results today

Sudhir Sitapati, Managing Director and CEO, GCPL, said, “Demand conditions in India have witnessed temporary headwinds over the past few months, led by a slowdown in urban consumption. Surge in palm oil prices by more than 40% along with weak seasonality in Household Insecticides has led to a flat underlying volume growth and midsingle digit underlying sales growth for our Standalone business. The surge in palm oil costs is negatively impacting our EBITDA margin. Our reported Standalone EBITDA margin at 22.6% is lower than our normative margin.

Our categories of Air Fresheners, Laundry Liquids, etc. have continued to deliver strong double-digit underlying volume growth. In Household Insecticides, Goodknight Agarbatti has outperformed and gained significant market share in the Incense Sticks category. Premium formats in Household Insecticides were impacted due to Urban slowdown and category seasonality, however we have started to gain market share within premium formats, which suggests that the RNF molecule is working amongst consumers.

In Indonesia, we continue to consistently deliver healthy performance with 6% volume growth and EBITDA margin expansion. In organic terms, Africa, USA and the Middle East sales grew by 1% in constant currency terms and declined by 8% in INR terms and delivered ~15% EBITDA margin for the fourth consecutive quarter. This translated into Consolidated organic sales growth of 6%. We remain focused on driving volume-led growth along with healthy investments in our brands and improvement in profitability. We continue to have a strong balance sheet.”

Godrej Consumer Products Ltd on Friday announced its fiscal third quarter results with profit at Rs 498.31 crore, down 14.24 per cent YoY, missing estimates. The company had posted a profit of Rs 581.06 crore during the corresponding quarter of FY24. It recorded revenue from operations at Rs 3,768.43 crore, up 2.97 per cent as against Rs 3,659.64 crore reported during the third quarter of previous financial year. The company EBITDA stood at Rs 755.9 crore.

According to a CNBC TV18 poll, Godrej Consumer Products was expected to report Q3 profit at Rs 529 crore and revenue for the period was estimated at Rs 3732 crore.

JSW Steel Ltd on Friday announced its fiscal third quarter earnings report with profit at Rs 719 crore, posting a decline of 70.65 per cent from Rs 2450 crore recorded during the corresponding quarter of FY24, surpassing estimates. It posted revenue from operations at Rs 41,378 crore, down 1.34 per cent as against Rs 41,940 crore recorded during the third quarter of previous financial year. The company EBITDA stood at Rs 5579 crore.

According to a CNBC TV18 poll, JSW Steel was expected to report Q3 profit at Rs 573 crore and revenue for the quarter was estimated at Rs 40,545 crore.

• As of 31st December 2024, fleet of 437 aircraft including 45 A320 CEOs (19 damp lease and 6 secondary leases), 199 A320 NEOs, 128 A321 NEOs, 48 ATRs, 3 A321 freighters, 12 B737 (damp lease) and 2 B777 (damp lease); a net increase of 27 passenger aircraft during the quarter.

• IndiGo operated at a peak of 2,200 daily flights during the quarter including non-scheduled flights.

• During the quarter, it provided scheduled services to 89 domestic destinations and 34 international destinations.

Pieter Elbers, CEO, said, “We delivered a strong third quarter of financial year 2025, both operationally and financially. We reported a total income of Rs 230 billion, reflecting a growth of 15 per cent and profit excluding the impact of currency movement of Rs 38.5 billion. Including currency impact, we reported a profit of Rs 24.5 billion highlighting effective execution of our clear and well-defined strategy. These results were driven by robust demand in the market and our ability to cater to that demand supported by lower fuel prices. We touched new milestones as we operated a peak of 2,200 daily flights and served a record 31.1 million passengers during the quarter. We will continue the growth path to offer our customers with options to conveniently fly to the destination of their choice.”

Total Assets under Management as on 31st December, 2024 increased by 18.78 % and stood at Rs 2,54,469.69 crore as compared to Rs 2,14,233.47 crore as on 31st December, 2023 and Rs 2,43,042.55 crore as on 30th September, 2024.

Shriram Finance Ltd on Friday reported a profit of Rs 3,569.76 crore during the third quarter of FY25, posting a surge of 96.32 per cent in comparison to Rs 1,818.33 crore during the corresponding period of previous financial year. The company said that the one-time Gain of Rs 1544 crore helped boost profit. It recorded revenue from operations at Rs 10,698.31 crore, up 19.90 per cent as against Rs 8,922.39 crore during the third quarter of FY24. Net Interest Income (NII) for the quarter stood at Rs 5590 crore.

AU Small Finance Bank posted gross NPA for the quarter at 2.31 per cent in comparison to 1.98 per cent during the same period of previous year. It recorded net NPA for the quarter at 0.91 per cent as against 0.68 per cent during the third quarter of FY24.

During Q3, the company reported an order book of ~ $1.48 billion for iron & steel pipes and pellets. Iron & steel pipes account for ~ $1,462 million and pellets for ~ $14 million, reflecting strong business opportunities and high domestic and international demand across all product lines. It said that export orders constitute around 22% of the total order book. Jindal Saw informed that the order book is slated to be executed in next 9-12 months.

Dr Krishna Prasad Chigurupati, Chairman & Managing Director of Granules India Limited, said, “We continue to sustain our profitable growth in the finished dosages segment, driven by our North America business. We are enhancing quality and compliance through systemic improvements across our operations, including Gagillapur. Progress on our greenfield formulation expansion at GLS remains on track, reinforcing our capabilities and driving future growth.”

Elara Securities said, “Coforge’s Q3 results were ahead of our and Street estimates. Revenue growth was broad-based across verticals, while margins improved on cost efficiencies. Deal wins continued to be robust, which should aid strong revenue growth in the coming quarters. Margin performance might have had quarterly variation (front-loaded annual costs in Q1 of every year, followed by margin expansion in Q2-Q4), but key tenets of margin expansion remain continued higher offshoring and further rationalization in costs. COFORGE maintained its guidance of reaching USD 2bn revenues by FY27 and 200-300bps margin expansion by that time – Expect continued impressive performance.”

Axis Securities said, “We expect multiple levers to drive revenue growth for the company moving forward. First is the biosimilar segment; the company plans to launch two biosimilars in Europe, both potentially generating $40–$50 Mn in sales in FY26E. Denosumab, another biosimilar expected to launch in FY27E, could generate $50 Mn in sales. Second, the GLP-1 segment, currently a $10 Bn opportunity, could grow 5x over the next 5–6 years.”

Elara Securities said, “Polycab India reported 20% top-line growth in Q3FY25, in line with our estimates, led by robust growth in C&W exports, doubling in EPC sales and FMEG surge, led by festival demand. Management has unveiled its new Project SPRING five-year plan wherein it expects sales to grow 1.5x of the industry for C&W and 2.0x for FMEG along with margin of 11-13% for C&W and 8-10% for FMEG, led by a huge capex of Rs 60-80bn during FY26-30. We reiterate Buy with a lower TP of Rs 7,900 on 42x December FY26E P/E, owing to slower growth momentum in wires and a delay in recovery in FMEG. But we remain positive on robust domestic demand, supported by capex and rising exports.”

Elara Securities said, “Persistent System’s (PSYS IN) Q3 performance was strong on both revenue and margin. Revenue growth was aided by broad-based growth across verticals, and margin performance was helped by rationalization of costs and improved utilization. Deal wins improved and may help keep revenue growth momentum strong, going forward. PSYS maintained revenue guidance of $2 billion by FY27 – It went one step ahead and is now targeting $5 billion revenues by FY31. Growth levers for $5 billion revenues are further mining of top-100 accounts, special focus on sub-verticals in three main verticals and continued partnership with hyperscalers to jointly develop AI solutions. PSYS also maintained that 200-300bps margin expansion is possible in the next 2-3 years. We do not see any risk to the $2 billion revenue, considering consistent strong performance in both revenue and margin.”

Today, companies including DLF, Interglobe Aviation, Godrej Consumer Products, NIIT, Granules India, DCB Bank, Bank Of India, AU Small Finance Bank, Arkade Developers, Aditya Birla Money, Torrent Pharmaceuticals, Shriram Finance, Trident, Suven Life Sciences, Ugro Capital, Steel Exchange India, JSW Steel, Laurus Labs, Sagar Cements, among several others are lined up to release their Q3 numbers.