Q1 Results FY2023: Several listed companies declared their quarterly results on Wednesday. Among them were Realty firm Mahindra Lifespace Developers, Indian Metals & Ferro Alloys, CG Power and SIS. Here are key highlights of the results.
Mahindra Lifespace Q1 Results FY2023: Company posts Rs 75.7 crore profit in Q1
Realty firm Mahindra Lifespace Developers Ltd on Wednesday reported a consolidated net profit of Rs 75.70 crore in the first quarter of this fiscal year.
The company had posted a net loss of Rs 14.04 crore in the year-ago period, according to a regulatory filing.
Total income fell to Rs 117.34 crore during April-June quarter of the 2022-23 fiscal from Rs 154.20 crore in the year-ago period.
Arun Nanda, Chairperson (Non-Executive Non-Independent) of the company will retire with effect from July 28.
The company’ board approved the election of Ameet Hariani, Non-Executive Independent Director of the company as the new Chairperson, as per the filing.
The board also cleared appointment of Rucha Nanavati as an Additional Director in the category of Non-Executive Non-Independent Director of the company.
Arvind Subramanian, Managing Director and CEO of Mahindra Lifespace Developers Ltd, said, “we registered our best ever residential pre-sales at Rs 602 crore, bucking the industry trend where Q1 (first quarter) is generally slower than the preceding quarter”.
“Our industrial leasing, at Rs 118 crore, continued its momentum,” he added.
The company said it acquired a new land parcel in Pune that has a development potential of 2.1 million square feet with an estimated sales value of Rs 1,700 crore.
Mahindra Lifespace’s development footprint spans 32.14 million square feet of completed, ongoing and forthcoming residential projects across seven Indian cities.
Mahindra Lifespace shares today ended at Rs 435 on the NSE and were up 3.8 per cent from the last closing price on Tuesday.
Indian Metals & Ferro Alloys Q1 Results FY2023: June quarter PAT grows 35% to Rs 134 crore
Indian Metals & Ferro Alloys has registered over 35 per cent jump in its consolidated profit after tax to Rs 134.18 crore during the quarter ended June 30, mainly on account of higher income.
The company had clocked Rs 99.09-crore profit after tax (PAT) during the April-June quarter of financial year 2021-22, Indian Metals & Ferro Alloys (IMFA) said in a regulatory filing.
Its total income during April-June 2022-23 rose to Rs 750.27 crore, from Rs 541.91 crore in the year-ago period, IMFA said on Tuesday.
Expenses were at Rs 571.44 crore, as compared to Rs 405.29 crore a year ago.
In a separate statement, the company said its production of ferrochrome (FeCr) rose to 63,760 tonne during April-June period this year, from 58,640 tonnes in the same period of FY22.
Ferrochrome is used in the production of stainless steel, special steel and castings.
The company sold 60,335 tonnes FeCr, higher from 59,506 tonnes in the same period of preceding fiscal.
“IMFA has posted a robust set of numbers for the first quarter, even as commodity prices have corrected on the back of continuing uncertainty due to geopolitical developments and weaker global economic growth. Going ahead, we expect margins to sustain in view of correction in input costs and currency devaluation,” IMFA’s Managing Director Subhrakant Panda said.
Odisha-based IMFA is an integrated producer of value added ferrochrome with installed capacity of 2.84 lakh tonnes per annum. e company also has over 5,000 acres of ongoing and forthcoming projects under development/management at its integrated industrial parks across four locations.
Indian Metals & Ferro Alloys shares today ended at Rs 282 on the NSE and were down 1.4 per cent from the last closing price on Tuesday.
CG Power and Industrial Solutions Q1 Results FY2023: net profit jumps 138% to nearly Rs 130 crore
CG Power and Industrial Solutions on Wednesday said its consolidated net profit jumped 138 per cent to Rs 129.93 crore in the April-June quarter of the current financial year.
The company had reported a consolidated net profit of Rs 54.58 crore in the quarter ended on June 30, 2021, a BSE filing said.
Total income of the company rose to Rs 1,674.50 crore in the reporting quarter from Rs 1,061.24 crore in the same period a year ago.
CG Power shares today ended at Rs 218.95 on the NSE and were 1.7 per cent from the last closing price on Tuesday.
SIS Q1 Results FY2023: net profit up 39% at Rs 83 crore
SIS Ltd has reported a 39 per cent rise in net profit to Rs 83 crore for the first quarter ended June 30, aided by higher revenue.
The company had posted a net profit of Rs 60 crore in the April-June quarter of the preceding fiscal.
Its revenue for the quarter increased by 13 per cent to Rs 2,678.2 crore from Rs 2,379.3 crore a year ago, a USD 1.3 billion multinational firm in security, facility management and cash logistics solutions said in a statement on Wednesday.
Earnings before interest, taxes, depreciation, and amortisation (EBITDA) or operating profit remained flat at Rs 121 crore as of June 30 this fiscal.
SIS managing director Rituraj Sinha said, “Our Q1 FY23 results illustrate the predictability of our business model as an essential services business, which continues to grow at a healthy rate, with the economy growing post-pandemic”.
The cash logistics segment continues its strong revenue growth of 46 per cent over the same quarter of the previous fiscal, driven by new wins in door-step banking and cash in transit business, it said.
SIS shares today ended at Rs 445 on the NSE and were 1 per cent from the last closing price on Tuesday.
Inputs from PTI