Results for the first quarter of fiscal 2023: Several listed companies announced their results for the June quarter. Among them were the state-run Punjab National Bank (PNB), Sona BLW Precision Forgings, Westlife Developments and Orient Cement. Here are the key highlights of the earnings results released by the company.
Q1 FY2023 NBI results: The state-run Punjab National Bank (PNB) announced its June quarter results and said its net profit fell to Rs 308 crore from Rs 1,023 crore a year ago, a the company said in its stock exchange filing. The results were announced after market hours.
Shares of PNB today close at Rs 32.75 on the NSE and are up almost 2% from Wednesday’s closing price.
Sona BLW Precision Forgings Q1 results FY2023: profit at Rs 76 crore in April-June
Automotive technology company Sona BLW Precision Forgings (Sona Comstar) on Thursday announced a profit after tax (PAT) of Rs 76 crore in the April-June quarter.
The company said revenue in the quarter under review rose 18% to Rs 589.20 crore from Rs 500 crore in the corresponding quarter last fiscal year on the back of 68% year-on-year growth. battery annual. Electric Vehicles Activity (VEB).
The BEV business accounted for 29% of overall revenue, he said.
“Global automotive markets remained challenging, with light vehicle sales down 17% due to supply-side disruptions. Our revenue grew 18% year-over-year in the first quarter, driven by rapidly increasing revenue from BEV programs,” Vivek said. Vikram Singh, MD and Group CEO.
Ebitda (earnings before interest, tax, depreciation and amortization) growth, however, was less than 3% due to a further increase in the costs of materials and electricity during the last quarter.
“We are seeing margin pressure starting to ease in the current quarter, and we expect this reversal in inflation to continue,” Singh said.
The company said its net order backlog increased by 10% to Rs 20,500 crore at the end of June 30, 2022 from Rs 18,600 crore at March 31, 2022.
Sona Comstar has bagged two new programs from a European passenger vehicle manufacturer to supply final drive differential assemblies for their upcoming electric vehicle models and production is expected to begin in FY26.
In addition, the company also received an order from a domestic two-wheeler manufacturer to supply traction motors for its flagship electric scooter model, it said and added that production of these motors is expected to start in during this exercise.
Shares of Sona BLW closed today at Rs 563.40 on the NSE and rose 2.4% from Wednesday’s closing price.
Westlife Development Q1 Results FY2023: Company posts profit of Rs 23.57 crore in Q1
Westlife Development Ltd on Thursday reported consolidated net profit of Rs 23.57 crore in the first quarter ended June 30.
It owns Hardcastle Restaurants, the master franchisee of McDonald’s restaurants for West and South India.
The company had posted a net loss of Rs 33.39 crore in the April to June quarter a year ago, it said in a regulatory filing.
Its sales reached Rs 536.17 crore in the first quarter of the current financial year. A year ago, the same was at Rs 258 crore.
Westlife’s total expenditure soared nearly 64% to Rs 507.97 crore in the last quarter of June.
“The company got off to a strong start in the first quarter of FY23 and recorded record revenue of Rs 537 crore,” he said.
During the June quarter, it added 5 restaurants.
“Westlife plans to add 35-40 new restaurants in FY23 and more than 200 new restaurants over the next 3-4 years, with a greater focus on smaller and emerging cities,” a- he declared.
Westlife Vice Chairman Amit Jatia said the business performance over the past three quarters was a testament to the solid strategy he had followed.
“With a redefined cost structure, increased productivity, high average unit volumes and healthy cash flow for restaurants, we are well positioned to deliver accelerated business results and create long-term shareholder value,” did he declare.
As of June 30, 2022, Westlife had a total of 331 restaurants in 48 cities.
Westlife Development shares of the company gained nearly 5% to close at Rs 537.75 on BSE.
Orient Cement Q1 results FY2023: Net profit down 58pc to Rs 37 crore
CK Birla Group company Orient Cement Ltd on Thursday reported a 58.17% drop in net profit to Rs 37.41 crore in the quarter ended June.
It had posted a net profit of Rs 89.45 crore in the April-June quarter a year ago, Orient Cement said in an ESB filing.
Its operating income increased by 3.33% to Rs 713.93 crore in the quarter under review. It was Rs 690.90 crore during the corresponding period last fiscal year.
Orient Cement’s total expenditure was Rs 656.05 crore, up 18% in the June quarter from Rs 555.87 crore.
On Thursday, Orient Cement shares fell 0.42% to 118.55 rupees each on BSE.