Federal Bank Q4 net zooms 62 pc
Mumbai: South-based lender Federal Bank on Friday reported a 62 per cent jump in its March quarter consolidated net profit at Rs 953.91 crore, driven by profit booking on the sale of investments. The private sector lender's net profit for FY23 increased to Rs 3,164.72 crore from the year-ago period's Rs 1,969.79 crore. For the reporting quarter, its core net interest income grew 25 per cent to Rs 1,909 crore. However, it was the other income line, which reported a 58 per cent growth to Rs 734 crore for the January-March period, which helped it post the highest-ever net profit. The bank's analyst presentation said it booked a profit of Rs 192 crore on the sale of securities and other receipts against Rs 12 crore in Q4 FY22, which helped the most to the other income stream. Its net interest margin widened to 3.31 per cent for the reporting quarter from 3.16 per cent in the year-ago period but was down when compared to the preceding December quarter's 3.49 per cent. Its managing director and chief executive Shyam Srinivasan told reporters that it will aspire to keep the NIMs between 3.30-3.35 per cent in FY24.
Britannia Industries Q4 net profit rises 47.5 pc
New Delhi: Bakery food company Britannia Industries Ltd on Friday reported an increase of 47.53 per cent in consolidated net profit at Rs 557.60 crore for the fourth quarter ended March 2023. The company had posted a net profit of Rs 377.95 crore in the January-March quarter a year ago, Britannia Industries said in a BSE filing. Its revenue from operations rose 10.93 per cent to Rs 3,892.02 crore during the quarter under review against Rs 3,508.35 crore in the year-ago period. The total income of Britannia Industries in the March quarter increased 13.18 per cent to Rs 4,079.55 crore. Its total expenses rose 7.68 per cent to Rs 3,322.48 crore in the fourth quarter of FY23 from Rs 3,085.45 crore in the year-ago period. Shares of Britannia Industries Ltd on Friday settled at Rs 4,623.90 apiece on BSE, 0.85 per cent higher than its previous close.
Bharat Forge consolidated profit at Rs 127.74 cr
New Delhi: Auto components major Bharat Forge Ltd on Friday reported a consolidated net profit of Rs 127.74 crore for the fourth quarter ended March 31, 2023. The company had posted a consolidated net profit of Rs 231.86 crore in the same period of the previous fiscal, Bharat Forge said in a regulatory filing. Consolidated revenue from operations during the quarter under review stood at Rs 3,629.05 crore. It was at Rs 3,573.09 crore in the year-ago period. For the fiscal ended March 31, 2023 consolidated net profit was at Rs 508.39 crore. It was at Rs 1,077.06 crore in the previous fiscal. Consolidated revenue from operations in FY23 stood at Rs 12,910.26 crore. It was at Rs 10,461.08 crore in FY22.
Symphony Q4 net profit falls 75 pc to Rs 16 cr
New Delhi: Air cooler and appliances maker Symphony Ltd on Friday reported a decline of 75 per cent in its consolidated net profit at Rs 16 crore for the March quarter. The company had posted a net profit of Rs 64 crore in the January-March quarter a year ago, Symphony said in a BSE filing. Its revenue from operations was also down 19.79 per cent to Rs 308 crore during the quarter under review, as against Rs 384 crore in the year-ago period. Its total expenses in Q4FY23 were down 4.83 per cent to Rs 295 crore as against Rs 310 crore of the corresponding quarter a year ago. Its total revenue in the March quarter was down 20.5 per cent to Rs 318 crore. For the financial year ended March 2023, Symphony's net profit was down 4.13 per cent to Rs 116 crore against Rs 121 crore in FY22. However, its consolidated revenue from operations in FY23 increased 14.34 per cent to Rs 1,188 crore from Rs 1,039 crore a year ago.
JK Bank records highest-ever profit of Rs 1,197 cr
Srinagar: Jammu and Kashmir Bank has announced its highest-ever net annual profit of Rs 1,197 crore in the results for the financial year 2022-23. With a decade-high capital adequacy ratio of 15.39 per cent and NPAs at an eight-year low of 6.04 per cent, the bank also recorded its highest-ever quarterly profit of Rs 476 crore in the last quarter. “Jammu and Kashmir Bank has recorded Rs 1,197 crore as net profit for FY 2022-23 which is the highest ever annual profit,” a bank spokesperson said. “The bank’s gross and net NPA as percentages to gross and net advances improved considerably to 6.04 per cent and 1.62 per cent respectively, compared to 8.67 per cent and 2.49 per cent recorded last year.” The growth of advances outpaced the increase in deposits. While advances grew by 17 per cent to82,285 crore, deposits increased by around 6 per cent to Rs 1,22,038 crore.
Blue Dart Express net profit falls 49 pc
New Delhi: Logistics company Blue Dart Express Ltd on Friday posted an over 49 per cent decline in its consolidated net profit to Rs 69.44 crore in the March quarter on account of increased expenses. It had reported a consolidated net profit of Rs 136.97 crore in the year-ago quarter, the company said in a BSE filing. Its total income declined to Rs 1,225.22 crore from Rs 1,169.52 crore in the January-March period of FY22.