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Earnings update: Here are the quarterly results of Aditya Birla Fashion, Exide Industries and Torrent Power
Publish date: 2nd August, 2018
The earnings season has entered the month of August. And with many more big name companies yet to release their results, it looks like the excitement in the share market is only beginning.
Here is a snapshot of the earnings results announced on 1 August:
Aditya Birla Fashion and Retail
India’s first billion-dollar fashion powerhouse Aditya Birla Fashion and Retail reported great numbers for the first quarter of 2019. Strong operational performance helped Aditya Birla Fashion and Retail to post a net profit of Rs 5.60 crore. The company had registered a loss of Rs 20 crore during the same period last year. The company’s revenue grew by 8% to Rs 1914 crore for the quarter. But more interestingly, the Earnings Before Interest, Tax, Depreciation, and Amortization (EBITDA) rose by as much as 50% to Rs 122 crore. Aditya Birla Fashion has a positive outlook for the year with new innovative product lines under various brands according to a report by the company.
Exide Industries
Exide industries is a company that sells batteries as well as life insurance. On Wednesday, the company announced its first quarter results and it was a mixed performance. The company reported a 11% rise in net profits to Rs 209.92 crore and a 32.63% rise in revenue to Rs 2,090.24 crore. This can be attributed to strong demand in the automotive industry which accounts for more than 50% of its sales volumes. However, higher costs and currency depreciation had a negative impact on the company’s margins.
Click here to find out the four macro-economic factors that can affect corporate profits.
Torrent Power
Indian-based power company reported a 12% increase in net profit to Rs 221 crore for the quarter. Total income increased by 16.26% to Rs 3,580.42 crore. Growth in net income during the quarter can be attributed to an improved performance by the Sugen Mega Power Plant and reduction in the Aggregate Technical and Commercial (AT&C) losses according to a report by the company. The company approved a proposal for a dividend of Rs 5 per equity share of Rs 10 each for FY18.
Click here to read about the performance of Power Grid.
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