Q1 Results FY2023: As the earnings season is ongoing, several listed companies today announced their April-June quarter results. Among them were Havells India, Century Plyboards, Newgen Software and Tata Communications. Here are keyhighlights of their results.
Havells Q1 Results 2023: net profit rises to Rs 243 crore
Havells India Ltd on Wednesday reported an increase of 3.13 per cent in consolidated net profit to Rs 243.16 crore for the June quarter as margins were adversely impacted due to commodity cost fluctuation.
The consumer electrical goods maker company had posted a consolidated net profit of Rs 235.78 crore in the April-June quarter a year ago, Havells said in a regulatory filing.
Its revenue from operations was up 62.62 per cent to Rs 4,244.46 crore during the period under review as against Rs 2,609.97 crore in the corresponding period last fiscal.
Havells India Chairman and Managing Director Anil Rai Gupta said the company has a “robust revenue growth” in first quarter of FY23 over the corresponding quarter, which was disrupted by the second wave of the pandemic.
“Margins adversely impacted due to commodity cost fluctuation. We expect benefits from the recent cost moderation to reflect in a couple of quarters. The demand outlook remains stable in consumer and residential segments,” he said.
Havells total expenses were at Rs 3,964.76 crore, up 70.36 per cent during the first quarter of FY 2022-23 as against Rs 2,327.20 crore.
Revenue from the Switchgears segment was 37 per cent up at Rs 516.93 crore. The same stood at Rs 377.32 crore in the April-June quarter a year ago.
Its cables segment was at Rs 1,192.92 crore, up 47.79 per cent as compared to Rs 80,717 crore last year.
Havells’ revenue from lighting and fixtures in the first quarter of FY23 was up 74.29 per cent to Rs 373.67 crore. It was Rs 214.39 crore in the corresponding quarter of the previous year.
Revenue from Electrical Consumer Durables (ECD) was up 45.67 per cent to Rs 839.55 crore.
According to the filing, revenue from Lloyd Consumer, a company which Havells had acquired in 2017, was up over two-fold to Rs 1,093.79 crore in the June quarter as against Rs 497.46 crore.
Havells’ Revenue from ‘Other Segment’ was at Rs 227.60 crore, up 65.76 per cent, as against Rs 137.30 crore.
On Wednesday, shares of Havells India Ltd settled 2.86 per cent down at Rs 1,223.35 apiece on BSE.
Century Plyboards Q1 Results: profit rises 3-fold to 92.62 cr; revenue up 94.3% at Rs 888.78 cr
Century Plyboards (India) Ltd on Wednesday reported a nearly three-fold rise in its consolidated net profit to 92.62 crore for the first quarter ended on June 2022.
The company had reported a net profit of Rs 31.07 crore in the April-June quarter a year ago, Century Plyboards said in a BSE filing.
Its revenue from the operation rose 94.25 per cent to Rs 888.78 crore during the quarter under review. It was Rs 457.54 crore in the corresponding quarter previous fiscal.
Century Plyboards’ total expenses increased 83.74 per cent to Rs 768.97 crore in Q1 FY2022-23 against Rs 418.50 crore.
Meanwhile, in a separate filing Century Plyboards said its board in a meeting held on Wednesday approved the scheme of arrangement between the company and its wholly-owned subsidiary Century Infra Ltd.
As per the scheme, Century Plyboards will transfer its Container Freight Station Services Undertaking business to its arm Century Infra on a slump sale basis.
In consideration, Century Infra will issue its equity shares to its parent.
Century Infra was incorporated on December 30, 2021, to carry on the business of receivers, general carriers, Container Freight Stations, Internal Container Depots Terminal and aggregation of long-distance cargo.
Shares of Century Plyboards (India) Ltd on Wednesday settled at Rs 592.55 on BSE, up 3.51 per cent from the previous close.
Newgen Software Q1 results: profit falls 11% to Rs 19 cr
IT company Newgen Software Technologies on Wednesday posted about an 11 per cent decline in consolidated profit to Rs 19.17 crore for the first quarter ended June 2022.
The company had posted a profit of Rs 21.6 crore in the same period a year ago.
The consolidated revenue from operations increased by about 18 per cent to Rs 187.89 crore during the reported quarter from Rs 159.53 crore a year ago.
“FY23 has started on a strong note with revenue growth of 18 per cent in the first quarter (Q1) on a year-on-year basis with cloud and subscription revenues growing at 33 per cent in the Q1 on YoY basis,”
Newgen Software Technologies chairman and managing director Diwakar Nigam said in a statement.
He said given the seasonal nature of the company’s business, the first quarter is a lean period for it.
“On the cost front, there has been an impact of elevated employee costs and gradually normalising travel expenses, however, Q1 margins are not a reflection of the year margins. We strongly believe that we have a resilient business model in place, with our products having significant leverage across both sides of the market opportunity – revenue enhancement and cost o
Shares of Newgen Software shares ended at Rs 362 on the NSE on Wednesday, down by over 5 per cent from previous closing price.
Tata Communications Q1 Results: profit jumps 84% to Rs 543.76 crore in June quarter
Tata Communications on Wednesday posted an increase of 83.63 per cent in consolidated profit to Rs 543.76 crore in the June quarter.
The company had reported a profit of Rs 296.11 crore in the same period a year ago, it said in a regulatory filing.
“We delivered profitable data revenue growth as a result of disciplined execution, portfolio enhancements and deeper customer engagements. We continue to closely monitor and overcome the OEM and Supply Chain challenges.
“We are pleased with the healthy growth in the order booking and funnel additions across our portfolio, both in India and international markets,” Tata Communications Managing Director and CEO A S Lakshminarayanan said in a statement.
The consolidated income from operations of Tata Communications grew by 5 per cent to Rs 4,310.52 crore during the reported quarter from Rs 4,102.79 crore in the year-ago period.
“We continue to maintain our focus on operational efficiencies and balance sheet hygiene which is reflected in our profitability and cash flow. We are pleased to see a strong impact of our finance strategy in the company’s performance,” Tata Communications Chief Financial Officer Kabir Ahmed Shakir said.
Data Services segment continues to be the biggest contributor to the company’s business with revenue of Rs 3,353.44 crore followed by voice solution which contributed Rs 561.4 crore and transformation service of Rs 345.29 crore.
Tata Communications shares ended at Rs 980 on the NSE and were down 1.5 per cent from the Tuesday closing price.