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Parle Records Sales Over 2 Billion USD During FY22

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With a 9 per cent increase in net sales at Rs 16,202 crore the profit of the biscuit maker slipped 81 per cent to Rs 256 crore during the year ending March. The company said that its value for money plank especially for Parle G have been important in the brand’s growth, consistently over the years

The Parle Products crossed 2 billion dollars in annual revenues during FY22. It became India’s first packaged food company to breach the mark. It retails brands such as Parle G, Monaco and Melody,

With a 9 per cent increase in net sales at Rs 16,202 crore the profit of the biscuit maker slipped 81 per cent to Rs 256 crore during the year ending March. In the last year, it had recorded sales of Rs 14,923 crore and profit of Rs 1,366 crore, the company revealed during filing to the Registrar of Companies.

The company said that its value for money plank especially for Parle G have been important in the brand’s growth, consistently over the years. It was even more during inflationary times when consumers cut their spends and opted for smaller packs.

According to the senior category head at Parle Products, Mayank Shah, rural areas drove the growth more, which accounted between 55 to 60 per cent of the overall sales. Also, the company expanded its distribution nearly by 12 per cent last year, which helped the company.

The profit in the previous year was beyond expectation which did not demand any schemes or promotions in the trade. Also, advertisements were curtailed which led to saving a significant level of variable costs during Covid, he added.

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Exide Records Q2 Net At Rs 246 Cr Due To Easing Input Costs

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Exide’s profit went up 5.13 per cent to Rs 246 crore (30.43 million dollar) during June-September quarter, as compared to Rs 234 crore a year ago. According to analysts on average profit of Rs 236 crore was expected

The Indian battery maker Exide Industries recorded an improved profit in second-quarter on 11 November. This came after an increase in volumes and easing input costs.

Also, demand surged from the replacement and the original equipment manufacturer (OEM) segments as passenger vehicles’ demand surged, along with automakers reporting strong sales.

Exide’s profit went up 5.13 per cent to Rs 246 crore (30.43 million dollar) during June-September quarter, as compared to Rs 234 crore a year ago, said the company in an exchange filing.

According to analysts on average profit of Rs 236 crore was expected. The automotive and industrial sectors had been going under pressure due to pandemic-induced supply-chain crunches. And after Russia’s invasion of Ukraine, the prices of raw material too rose.

However, the sectors witnessed some relief after the prices of commodities like lead and crude oil cooled off and supply-chain constraints gradually softened. Adding to this, the industrial vertical saw a strong recovery from the last year as business activity surged, said the company.

Company’s revenue from operations surged 13.04 per cent to Rs 3,719 crore during the second quarter from Rs 3,290 crore a year ago. The shares of the were traded on higher side at 4.63 per cent year-to-date as per the last close,.

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BHEL Records Q2 Net At Rs 12.10 Cr, Income Up To Rs 5,418 Cr

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The company had posted a consolidated net loss of Rs 46.58 crore in the quarter ending 30 September, according to a Bombay Stock Exchange filing

The largest industrial valve manufacturing company BHEL (Bharat Heavy Electricals Limited) posted its consolidated net profit at Rs 12.10 crore during the quarter ending September 2022.

The company had posted a consolidated net loss of Rs 46.58 crore in the quarter ending 30 September, according to a Bombay Stock Exchange filing.

The revenues of the state-owned engineering firm were on higher side as its total income surged to Rs 5,418.74 crore during the quarter under review from Rs 5,197.25 crore a year ago.

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SJVN Q2 Net Profit 10% Up To Rs 445 Cr

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As per a Bombay Stock Exchange filing, the consolidated net profit of the company stood at Rs 404.72 crore in the year-ago quarter

The state-owned hydroelectric power generation and transmission company SJVN (Satluj Jal Vidyut Nigam) reported a 10 per cent surge rise in its consolidated net profit to Rs 445.44 crore in the September 2022 quarter, on year-on-year basis.

As per a Bombay Stock Exchange filing, the consolidated net profit of the company stood at Rs 404.72 crore in the year-ago quarter

Company’s total income went down to Rs 916.25 crore during the quarter under review as against Rs 925.56 crore from last year.

auto parts

Pricol Records Sept Qtr Consolidated Net Profit At Rs 47.52 Cr

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The city-based automotive technology company had registered its consolidated profit at Rs 14.66 crore during corresponding quarter of previous year. The consolidated total income for the six-month period ending 30 September 2022 rose to Rs 962.90 crore as compared to Rs 729.41 crore recorded in corresponding period of last year

The automotive technology company Pricol reported a consolidated profit at Rs 47.52 crore for the quarter ending September 2022, said the company on 11 November.

The city-based company had registered its consolidated profit at Rs 14.66 crore during corresponding quarter of previous year.

The consolidated profit for the half year ending 30 September 2022 went up to Rs 68.12 crore from Rs 20.60 crore registered during the same period of last year, said the company.

The consolidated total income of the company surged during the quarter under review to Rs 516.46 crore from Rs 409.49 crore posted in same period of previous year.

the consolidated total income for the six-month period ending 30 September 2022 rose to Rs 962.90 crore as compared to Rs 729.41 crore recorded in corresponding period of last year.

The managing director of the company Vikram Mohan said in a statement that in spite of the demand from the industry remaining stable, the supply chain disruptions and chip shortages still continues to put a stress on our top-line and bottom-line. The company’s focus is to meet the customer demand despite such external conditions. And we have managed to report highest ever quarterly revenue.

Along with sharp increase in forex and electronic components’ price continuing as a risk to erode the profitability, the company is taking all possible measures to control the costs and hops to perform better than the market, he added.

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JSW Steel Crude Steel Production Surges 25% To 1.76 Mn Tonne In Oct’22

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The crude steel output of the company stood at 14.25 LT (Lakh Tonne) in October 2021, said JSW Steel in a statement. Also, the output long rolled products was at 3.70 LT, which went up 11 per cent as compared to the year-ago period

The leading steel manufacturing JSW Steel recorded a 25 per cent surge in standalone crude steel production at 17.76 lakh tonne (LT) during October 2022, on 11 November.

The crude steel output of the company stood at 14.25 LT in October 2021, said JSW Steel in a statement.

The production of flat rolled products increased by 30 per cent to 13.61 LT from 10.45 LT during corresponding month in the last year.

Also, the output long rolled products was at 3.70 LT, which went up 11 per cent as compared to the year-ago period.

An improvement of 93 per cent was also witnessed in the capacity utilisation last month, from 89 per cent in September 2022.

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Matrimony.com Q2 Total Income Up, Consolidated Net At Rs 11.70 Cr

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The consolidated profit after tax for the half year ending 30 September 2022 stood at Rs 23.66 crore, which was registered at Rs 30.39 crore in the same period during last year. Also, the company said it has launched RainbowLuv matchmaking application in order to serve the LGBT community

The matchmaking service provider Matrimony.com has recorded a consolidated net profit of 11.70 crore for the July-September quarter, the company said on 11 November.

During the previous financial year in the corresponding quarter, it had reported a consolidated net profit of Rs 16.57 crore.

The consolidated profit after tax for the half year ending 30 September 2022 stood at Rs 23.66 crore, which was registered at Rs 30.39 crore in the same period during last year.

The company’s consolidated total income rose to Rs 119.07 crore during the July-September, from Rs 113.90 crore reported in the same period of previous financial year.

Also, the consolidated total income for the six-month period ending 30 September 2022 stood at Rs 239.83 crore as compared to Rs 223.57 crore registered in the corresponding quarter during last year.

The chairman and managing director of the company, Murugavel Janakiraman said that due to seasonality, this quarter has been a subdued one. However, we shall continue to leverage our new launches to boost the momentum and server the much needed impetus for better customer experience, at the same time.

Also, the company said it has launched RainbowLuv matchmaking application in order to serve the LGBT community along with techiematrimony, which is an exclusive matchmaking services to those in the information technology sector, in the quarter under review.

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Deepak Fertilisers Q2 Profit Surges Almost Three Times To Rs 276 Cr, Revenue Up 51%

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In the last fiscal, its net profit stood at Rs 93 crore during the corresponding quarter, said the company in a statement. The company’s operating revenue went up by 51.7 per cent to Rs 2,719 crore during the current quarter, as compared to Rs 1,793 crore in the same period a year-ago

The industrial chemicals and fertilisers manufacturer Deepak Fertilisers and Petrochemicals Corporation (DFPCL) said that its net profit has surged around three times to Rs 276 crore in the second quarter ending September, on 10 November.

In the last fiscal, its net profit stood at Rs 93 crore during the corresponding quarter, said DFPCL in a statement.

The company’s operating revenue went up by 51.7 per cent to Rs 2,719 crore during the current quarter, as compared to Rs 1,793 crore in the same period a year-ago.

DFPCL Chairman and Managing Director Sailesh C Mehta said that company’s drive from commodity to specialty will continue to support premium margins and brand consolidation in the mining chemicals, pharma chemicals and crop nutrition businesses,”

According to him, the Asian Development Bank (ADB) association has been an acknowledgement of the efforts and impact. The company has been making along with providing specialty and crop-specific performance fertilisers.

“The Ammonia and TAN (mining chemicals) projects continues in full swing. The company is driving for fast-track project execution for the same,” he added.

India Cements

India Cements Books 7.46 Surge In Q2 Revenue To Rs 1,327 Cr

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During the previous fiscal, the company had posted a net profit of Rs 29.75 crore in the July-September quarter. Its revenue from operations went up by 7.46 per cent to Rs 1,327.06 crore and total expenses were recorded at Rs 1,528.01 crore, up by 27.16 per cent, during the second quarter this year

India Cements Ltd on 7 November recorded a consolidated net loss of Rs 113.26 crore for the second quarter ending September 2022.

During the previous fiscal, the company had posted a net profit of Rs 29.75 crore in the July-September quarter, said India Cements in a regulatory filing.

Its revenue from operations went up by 7.46 per cent to Rs 1,327.06 crore during the second quarter this year. The same stood at Rs 1,234.85 crore a year ago.

The company’s total expenses were recorded at Rs 1,528.01 crore, up by 27.16 per cent during the September quarter of FY23 in comparison with Rs 1,201.61 crore from last year.

The Shares of India Cements were traded at Rs 248.50 on Bombay Stock Exchange, up by 1.02 per cent from the previous close.

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Britannia Industries’ Shares Witness Nearly 10% Surge After Q2 Profit Beat

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The company booked a profit was 4.93 billion rupees (59.97 million dollar) for the quarter ending on 30 September. Its total operations revenue from grew 21.4 per cent to 43.8 billion rupees from 36.07 billion rupees a year ago

The shares of India’s Britannia Industries Ltd went up nearly by 10 per cent on 7 November following a 28.4 per cent jump in second-quarter consolidated net profit of Good Day and Tiger biscuits maker report on late 5 November.

The company booked a profit was 4.93 billion rupees (59.97 million dollar) for the quarter ending on 30 September. The profits surpassed the analysts’ projection for a profit of 4.12 billion rupees.

Its total operations revenue from grew 21.4 per cent to 43.8 billion rupees from 36.07 billion rupees a year ago.

Britannia’s growth report came after Hindustan Unilever recorded a surge in profit. However, Dabur India’s profit was on lower side due to high commodity prices.

India’s food inflation accounts for around 40 per cent of the consumer price index (CPI) basket. It went up 8.60 per cent in September as compared to 7.62 per cent in August. Recently, the government extended curbs on sugar exports by one year till October 2023 in order to contain the rise in domestic prices following record exports.

However, palm oil prices have reduced significantly from their all-time high touched in March. This came after the Indonesia’s decision to suspend export levies in July due to a build-up of stocks. Britannia shares remained high in the NSE Nifty 50 index.

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