IndusInd Bank Posts 30% Rise In Q1 Profit, L&T Tech Reports A Decline — Earnings Wrap

IndusInd Bank Ltd. reported a 30% increase in its consolidated net profit in the quarter ended June due to higher core income and lower provisions. 

The private sector lender's first quarter profit stood at Rs 2,124.5 crore, according to an exchange filing on Tuesday. Bloomberg had estimated a profit of Rs 2,094.6 crore for the April–June quarter.

L&T Technology Services Ltd. saw its net profit decline 8.5% to Rs 311.1 crore as compared with Rs 340.1 crore in the previous quarter. Bloomberg had estimated a net profit of Rs 309.8 crore. Revenue was down 2.1% to Rs 2,301.4 crore from Rs 2,370.6 crore in the previous quarter. The poll of analysts' estimates conducted by Bloomberg expected a revenue of Rs 2,327.9 crore.

ICICI Lombard General Insurance Co. reported a first quarter profit of Rs 390 crore, which rose 12% year-on-year, according to an exchange filing. That compares with the Rs 463 crore consensus estimate of analysts tracked by Bloomberg. Sequentially, it was down 11%. The net premium earned for the quarter was up 12% at Rs 3,887 crore.

Here are the earnings of major companies announced after market hours on July 18:

IndusInd Bank Q1 FY24 (Consolidated, YoY)

• Net profit of Rs 2,124.5 crore vs Rs 1,631 crore, and compared with a Bloomberg estimate of Rs 2,056 crore.

• NII: Rs 4,876 crore vs Rs 4,125.26 crore.

• GNPA: 1.94% vs 1.98% (QoQ).

• NNPA: 0.58% vs 0.59% (QoQ).

L&T Technology Q1 FY24 (Consolidated, QoQ)

• Revenue was down 2.1% at Rs 2,301.4 crore vs. Rs 2,370.6 crore (Bloomberg estimate: Rs 2,327.9 crore).

• Net profit is down 8.5% at Rs 311.1 crore vs. Rs 340.1 crore (Bloomberg estimate: Rs 309.8 crore).

• EBIT fell 6.8% to Rs 394.6 crore vs. Rs 423.4 crore (Bloomberg estimate: Rs 394.1 crore).

• EBIT margin at 17.14% vs. 17.86%

ICICI Lombard General Insurance Q1 FY23 (YoY)

• Revenue is up 14% at Rs 4,538 crore vs. Rs 3,978 crore (Bloomberg estimate: Rs 2,464 crore).

• Net profit is up 12% at Rs 390 crore vs. Rs 349 crore (Bloomberg estimate: Rs 463 crore).

• Ebitda was Rs 331 crore vs. Rs 317 crore, up 5%. (Bloomberg estimate: Rs 302 crore.)

• Margin at 7.3% vs. 8% (Bloomberg estimate: 12.3%).

CIE Automotive India

• Revenue was up 5% to Rs 2,320.34 crore vs. Rs 2,215.96 crore (Bloomberg estimate: Rs 2,396.2 crore).

• Net profit gained 60% to Rs 301.68 crore vs. Rs 188.85 crore (Bloomberg estimate: Rs 226.6 crore).

• Ebitda is up 21% to Rs 370.43 crore vs. Rs 305.76 crore.

• Ebitda margin at 16% vs. 13.8%

Himadri Specialty Chemical

• Total revenue fell 9% to Rs 950.91 crore vs. Rs 1,046.64 crore.

• Net profit more than doubled to Rs 86.1 crore vs. Rs 38.56 crore.

• Ebitda surged 87% to Rs 134.01 crore vs. Rs 71.6 crore.

• Ebitda margin rose to 14.1% vs. 6.8%.

Network18 Media and Investments

• Total revenue from operations jumped to Rs 3,238.94 crore vs. Rs 1,339.89 crore.

• Net profit declined 26% to Rs 29.17 crore vs. Rs 39.46 crore.

• Ebitda loss stood at Rs 84.42 crore vs. Ebitda of Rs 46.20 crore.

• Ebitda loss margin stood at -2.6% vs. an Ebitda margin of 3.4%.

TV18 Broadcast

• Total revenue from operations jumped to Rs 3,176.03 crore vs. Rs 1,265.05 crore.

• Net profit advanced 52% to Rs 91.20 crore vs. Rs 60.02 crore.

• Ebitda loss stood at Rs 54.40 crore vs. Ebitda of Rs 57.75 crore.

• Ebitda loss margin stood at -1.7% vs. an Ebitda margin of 4.6%.