HDFC Bank Q3 Profit Rises, L&T Tech Revenue Surges — Earnings Wrap
Here are the major quarterly results announced after market hours on Tuesday.
India's largest private lender HDFC Bank Ltd.’s net profit rose 2.5% sequentially on higher provisions.
Net profit for the quarter stood at Rs 16,373 crore in the October–December period, as compared with Rs 15,976 crore in the previous quarter. Analysts polled by Bloomberg estimated a net profit of Rs 15,763 crore for the quarter.
L&T Technology Services Ltd.'s revenue and net profit met expectations in the third quarter, though income reported slower growth.
Revenue of the L&T Group company rose 1.5% over the previous three months to Rs 2,421.8 crore in the quarter ended December, according to an exchange filing on Tuesday. That compares with the Rs 2,451.03 crore consensus estimate of analysts tracked by Bloomberg.
Here are the major quarterly results announced after market hours on Tuesday:
HDFC Bank Q3 FY24 (Standalone, QoQ)
NII at Rs 28,471.3 crore vs Rs 27,385.2 crore, up 4%.
Net profit at Rs 16,372.5 crore vs Rs 15,976.11 crore, up 2.48% (Bloomberg estimate: Rs 15,762.8 crore).
Gross NPA at 1.26% vs 1.34%.
Net NPA at 0.31% vs 0.35%.
L&T Tech Q3 FY24 (Consolidated, QoQ)
Revenue at Rs 2,421.8 crore vs Rs 2,386.5 crore, up 1.47% (Bloomberg estimate: Rs 2,451 crore).
Ebit at Rs 416.2 crore vs Rs 407.5 crore, up 2.13% (Bloomberg estimate: Rs 421.2 crore).
Margin at 17.18% vs 17.07% (Bloomberg estimate: 17.2%).
Net profit at Rs 336.8 crore vs Rs 315.9 crore, up 6.61% (Bloomberg estimate: Rs 497.8 crore).
ICICI Lombard General Insurance Q3 FY24
Net profit at Rs 431.5 crore vs Rs 352.5 crore, up 22.4% YoY.
Net premium income at Rs 4,304.8 crore vs Rs 3,792.1 crore, up 13.5% YoY.
Solvency ratio at 2.57 vs 2.45 YoY.
Combined ratio at 103.6% vs 104.4% YoY.
ICICI Securities Q3 FY24 (Standalone, YoY)
Revenue at Rs 1,322.4 crore vs Rs 878.79 crore, up 50.47%.
Ebitda at Rs 910.6 crore vs Rs 547.69 crore, up 66.26%.
Margin at 68.85% vs 62.32%.
Net profit at Rs 465 crore vs Rs 279.1 crore, up 66.6% (Bloomberg estimate: Rs 439.7 crore).
Hathway Cable Q3 FY24 (Consolidated, YoY)
Revenue at Rs 504.58 crore vs Rs 478.45 crore, up 5.46%.
Ebitda at Rs 82.08 crore vs Rs 80.66 crore, up 1.76%.
Margin at 16.26% vs 16.85%.
Net profit at Rs 22.35 crore vs Rs 28.77 crore, down 22.31%.
Network 18 Q3 FY24 (Consolidated, YoY)
Revenue at Rs 1,773.73 crore vs Rs 1,850.49 crore, down 4.15%.
Ebitda loss at Rs 171.71 crore vs profit of Rs 1.7 crore.
Net loss at Rs 107.87 crore vs profit of Rs 8.82 crore.
TV18 Broadcast Q3 FY24 (Consolidated, YoY)
Revenue at Rs 1,676.19 crore vs Rs 1,767.71 crore, down 5.18% (Bloomberg estimate: Rs 1,691.9 crore).
Ebitda loss at Rs 145.79 crore vs Ebitda of Rs 18.58 crore YoY.
Net loss at Rs 55.83 crore vs profit of Rs 37.81 crore.
Credo Brands Q2 FY24 (Consolidated, YoY)
Revenue at Rs 165.6 crore vs Rs 142.7 crore, up 16.1%.
Ebitda at Rs 56.82 crore vs Rs 51.23 crore, up 10.9%.
Margin at 34.3% vs 35.9%.
Net profit at Rs 27.97 crore vs Rs 26 crore, up 7.6%.
Gallantt Ispat Q3 FY24 (Consolidated, YoY)
Revenue at Rs 1,062.7 crore vs Rs 1,006.2 crore, up 5.6%.
Ebitda at Rs 106.6 crore vs Rs 85.6 crore, up 24.5%.
Margin at 10.03% vs 8.5%, up 152 bps.
Net profit at Rs 51.9 crore vs Rs 20.9 crore, up 148.32%.
