+surance Corporation of India: The company saw a 49% year-on-year increase in net profit during the December quarter of FY24 at ₹9,444.4 crore compared to ₹6,334.2 crore during the same period last year. It was mainly driven by an increase in net income from investments and growth in net premium income. India’s largest insurer’s net premium income grew by 4.6% to ₹1.17 trillion compared to ₹1.11 trillion in Q3FY24.
Grasim Industries: The flagship company of Aditya Birla Group reported a 39.80% decline in its consolidated net profit for Q3FY24 at ₹1,514.44 crore, down from ₹2,515.78 crore a year ago. “Financials from previous period are not comparable on account of the acquisition of a 9.99% stake by ADIA entities in Aditya Birla Health Insurance,” the company said in an exchange filing.
Zomato: The online food delivery platform reported a consolidated net profit of ₹138 crore, compared to a net loss of ₹347 crore in the year-ago period. Zomato’s revenue from operations for the quarter came in at ₹3,288 crore, up 69% from ₹1,948 crore in the year-ago period. Total expenses were higher at ₹3,383 crore, compared to ₹2,485 crore in the corresponding period a year ago, the company said.
Bombay Dyeing and Manufacturing: The Indian realty-to-textile company reported a consolidated profit of ₹30.54 billion ($368 million) in the Q3FY24, compared to a loss of ₹1.01 billion rupees last year. Total expenses fell by 39.4% to ₹4.60 billion, largely due to a nearly 99% fall in inventories of finished goods, while its input costs also dropped 4.3%.
Apollo Hospitals: Beating market expectations, Apollo Hospitals Enterprises reported a whopping 60% rise in consolidated net profit (attributable to shareholders) at ₹245 crore in the quarter ending December FY24, compared to a net profit of ₹153.5 crore in the year-ago period. Apollo Hospitals also declared an interim dividend of ₹6 per share on Thursday.
IRCON International: The company reported a rise of 29% in its consolidated net profit at ₹244 crore in Q3FY24, compared to ₹190 crore in the year-ago period. The state-run engineering and construction firm’s revenue from operations for the quarter rose 23% at ₹2,884 crore, compared to ₹2,346 crore in the same period last year.
Escorts Kubota: The Indian tractor maker reported a smaller-than-expected third-quarter profit on Thursday, as lower demand offset the fall in costs. Escorts Kubota’s standalone net profit rose nearly 49% to ₹2.77 billion (about $33 million) for Q3FY24, but fell short of analysts’ expectations of ₹2.82 billion, per LSEG data. Revenue rose 2.5% to ₹23.20 billion, the slowest growth since at least March 2022.
Rail Vikas Nigam: The public sector undertaking reported a decline of 6.2% in net profit at ₹358.6 crore in Q3FY24, compared to ₹382.4 crore in the yar-ago period. RVNL’s revenue from operations in the quarter fell 6.4% to ₹4,689.3 crore, compared to ₹5,012.1 crore in the same period last year. On a sequential basis, the company’s net profit fell 9.1 per cent from ₹394.4 crore during the quarter ending September 2023.
Biocon: Biocon Limited reported net profit of ₹660 crore in Q3FY24, compared to a net loss of ₹42 crore in the same quarter of the previous year. Apart from this, the firm reported a 34% rise in revenue at ₹3,954 crore, compared to ₹2,941 crore in the same quarter of the previous year.
MMTC: The company reported a net loss of 42.89 percent at ₹55.71 crore in the December quarter of FY24, against ₹97.55 crore during the previous quarter ended December 2022. Sales declined 99.90 percent to ₹0.73 crore in the quarter ended December 2023, compared to ₹763.16 crore during the same quarter in previous year, the firm said a regulatory filing.
