Q1 Results FY2023: Several listed companies today announced their June quarter results. Among them were realty major DLF, Deepak Fertilisers and JK Paper. Here are key highlights of the quarterly earnings of these companies.
DLF Q1 Results FY2023: net profit up 39% at Rs 469.57 cr
Realty major DLF Ltd on Friday reported a 39 per cent increase in its consolidated net profit to Rs 469.57 crore in the first quarter ended June 30, mainly due to better sales.
Its net profit stood at Rs 337.10 crore in the year-ago period.
Its total income rose to Rs 1,516.28 crore in the first quarter from Rs 1,242.27 crore in the year-ago period.
DLF is the largest real estate company in terms of market capitalisation.
DLF shares today ended ar Rs 383.90 on the NSE and were up 0.50 per cent from the last closing price on Thursday.
Deepak Fertilisers Q1 Results FY2023: profit jumps over 3-fold to Rs 435 cr
Deepak Fertilisers and Petrochemicals Corporation Ltd (DFPCL) on Friday posted an over three-fold jump in consolidated net profit to Rs 435.66 crore in the June quarter on strong sales.
Its net profit stood at Rs 130.63 crore in the year-ago period, according to a regulatory filing.
Total income increased by 59.45 per cent on a consolidated basis to Rs 3,042.28 crore in the April-June period of the 2022-23 fiscal against Rs 1,907.97 crore in the same period of last year.
Expenses remained higher at Rs 2,392.82 crore compared to Rs 1,717.56 crore in the said period.
Deepak Fertilisers Chairman and Managing Director Sailesh C Mehta said, “We have continued our strong operational performance in Q1 FY 2023 on the back of improved margins in the Chemical segment.”
This persistent business performance is a result of our long-term strategic initiatives, strong market positioning and favourable market conditions, he said.
“Higher reservoir levels and appropriate monsoon coverage in our core command region is being witnessed. Consumption in the second quarter of this year is expected to increase supported by higher commodity prices for cash crops due to robust climatic conditions,” he added.
Mehta also said that long-term growth is expected to be underpinned by change in product mix, head room availability of additional capacities emerging from better operational management and de-bottlenecking along with greenfield expansions.
Deepak Fertilisers shares of the company closed 4.99 per cent up at Rs 709.65 apiece on Friday.
JK Paper Results FY2023: net profit rises to Rs 264 crore
JK Paper on Friday reported a two-fold increase in consolidated net profit at Rs 264.23 crore for the quarter ended June, helped by higher sales volume and enhanced sales realisation.
The company had logged a net profit of Rs 104.22 crore in the April-June period a year ago, JK Paper said in a regulatory filing.
Its revenue from operations was up two-fold at Rs 1,508.05 crore as against the low base of the pandemic-impacted corresponding quarter. It stood at Rs 720.08 crore last year.
JK Paper’s total expenses were at Rs 1,101.39 crore as compared to Rs 546.65 crore.
Vice Chairman & Managing Director H P Singhania said: “The company was able to deliver strong performance on a quarter to quarter and YoY basis on the strength of higher production and sales volume and enhanced sales realisation coupled with an enriched product mix.
This is in spite of the adverse impact of a substantial increase in major input costs in the recent period, he said.
“Demand for paper and board continues to remain strong. The new Packaging Board Line has stabilised well and achieved high capacity utilisation,” Singhania added.
JK Paper shares today ended at Rs 345.60 on the NSE and were 1.6 per cent from Thursday closing price.
Inputs from PTI