Dr Reddy's Labs Q3 Revenue Rises, L&T Profit Up — Earnings Wrap

Dr. Reddy's Laboratories Ltd.'s profit rose 11% in the third quarter of fiscal 2024, in line with analysts' estimates.

The drugmaker's net profit increased to Rs 1,381 crore in the October–December quarter, according to an exchange filing on Tuesday. That compares with the Rs 1,313 crore consensus estimate of analysts tracked by Bloomberg. Sequentially, the profit fell 7%.

Revenue surged 6.6% to Rs 7,236.8 crore as against Rs 6,789.8 crore over the same period last year.

Larsen & Toubro Ltd.'s third-quarter profit rose on the back of strong order inflows and project execution.

The net profit of India's largest capital goods company rose 17.24% year-on-year to Rs 3,594.51 crore in the quarter ended December, according to an exchange filing. That compares with the Rs 3,245.7-crore consensus estimate of analysts tracked by Bloomberg.

Here are the major quarterly results announced after market hours on Tuesday:

L&T Q3 Earnings FY24 (Consolidated, YoY)

• Revenue from operations rose 18.83% to Rs 55,127.8 crore (Bloomberg estimate: Rs 53,571 crore).

• Ebitda, or operating profit, increased 13.52% to Rs 5,759 crore (Bloomberg estimate: Rs 5,984.7 crore).

• Ebitda margin fell 48 bps to 10.44% vs 10.93 a year ago (Bloomberg estimate: 11.2%).

• Net profit surged 17.24% to Rs 3,594.51 crore (Bloomberg estimate: Rs 3,245.7 crore).

Dr Reddy's Q3 Earnings FY24 (Consolidated, YoY)

• Revenue up 6.6% at Rs 7,236.8 crore vs Rs 6,789.8 crore (Bloomberg estimate: Rs 6,981.8 crore).

• Ebitda up 4.4% at Rs 2,023.1 crore vs Rs 1,938.5 crore (Bloomberg estimate: Rs 1,983.8 crore).

• Margin down 59 bps at 27.95% vs 28.55% (Bloomberg estimate: 28.4%).

• Net profit up 11% at Rs 1,380.9 crore vs Rs 1,243.9 crore (Bloomberg estimate: Rs 1,313.2 crore).

Piramal Pharma Q3 Earnings FY24 (Consolidated, YoY)

• Revenue up 14.1% at Rs 1,958.6 crore vs Rs 1,716 crore.

• Ebitda at Rs 2,68.37 crore vs Rs 87.33 crore.

• Margin up 861 bps at 13.7% vs 5.08%.

• Net profit at Rs 10.1 crore vs loss of Rs 90.2 crore.

SRF Q3 Earnings FY24 (Consolidated, YoY)

• Revenue down 12.01% at Rs 3,053.04 crore vs Rs 3,469.66 crore (Bloomberg estimate: Rs 3,190 crore).

• Ebitda down 32.11% at Rs 565.83 crore vs Rs 833.52 crore (Bloomberg estimate: Rs 654 crore).

• Margin down 548 bps at 18.53% vs 24.02% (Bloomberg estimate: 20.5%).

• Net profit down 50.39% at Rs 253.43 crore vs Rs 510.9 crore (Bloomberg estimate: Rs 332 crore).

Teamlease Services Q3 Earnings FY24 (Consolidated, QoQ)

• Revenue up 7.6% at Rs 2,445.4 crore vs Rs 2,272.6 crore (Bloomberg estimate: Rs 2,387 crore).

• EBIT up 19.63% at Rs 22.54 crore vs Rs 18.84 crore (Bloomberg estimate: Rs 33.8 crore).

• Margin up 9 bps at 0.92% vs 0.82% (Bloomberg estimate: 1.4%).

• Net profit up 12.54% at Rs 31.12 crore vs Rs 27.65 crore (Bloomberg estimate: Rs 27.2 crore).

VIP Industries Q3 Earnings FY24 (Consolidated, YoY)

• Revenue up 3.8% at Rs 546.4 crore vs Rs 526.4 crore (Bloomberg estimate: Rs 586.6 crore).

• Ebitda down 28.39% at Rs 52.25 crore vs Rs 72.96 crore (Bloomberg estimate: Rs 86 crore).

• Margin down 429 bps at 9.56% vs 13.86% (Bloomberg estimate: 14.7%).

• Net profit down 83.8% at Rs 7.15 crore vs Rs 44.1 crore (Bloomberg estimate: Rs 46.6 crore).

ZF Commercial Vehicle Control System Q3 FY24 (Consolidated, YoY)

• Revenue up 2.56% at Rs 898.51 crore vs Rs 876.06 crore.

• Ebitda up 11.3% at Rs 133.6 crore vs Rs 120.1 crore.

• Margin up 116 bps at 14.86% vs 13.7%.

• Net profit up 18.1% at Rs 100.8 crore vs Rs 85.42 crore.

M&M Financial Q3 Earnings FY24 (Standalone, YoY)

• Total income up 20.7% to Rs 3,490.42 crore (YoY).

• Net profit down 12% at Rs 552.8 crore (Bloomberg estimate: Rs 454.5 crore).

• Gross stage-3 assets at 3.9% vs 4.3% (QoQ).

• Net stage-3 assets at 1.52% vs 1.71% (QoQ).

PB Fintech Q3 Earnings FY24 (Consolidated QoQ)

• Revenue up 7.3% at Rs 870.9 crore vs Rs 811.6 crore (Bloomberg estimate: Rs 851.1 crore).

• Ebitda loss at Rs 25.5 crore vs Ebitda loss of Rs 90.7 crore (Bloomberg estimate: Profit of Rs 12.9 crore).

• Net profit at Rs 37.2 crore vs loss of Rs 19.9 crore (Bloomberg estimate: Rs 24 crore).

Star Health & Allied Insurance (YoY)

• Net premium income up 14.9% at Rs 3,293.6 crore vs Rs 2,867.2 crore.

• Net profit up 37.6% at Rs 289.6 crore vs Rs 210.5 crore (Bloomberg estimate: Rs 209.6 crore).

• Solvency ratio at 2.23 vs 2.17.

Kaynes Tech Q3 Earnings FY24 (Consolidated, YoY)

• Revenue up 76.2% at Rs 509.3 crore vs Rs 289.1 crore (Bloomberg estimate: Rs 460.2 crore).

• Ebitda up 69.4% at Rs 69.8 crore vs Rs 41.2 crore (Bloomberg estimate: Rs 67.2 crore).

• Margin down 54 bps at 13.7% vs 14.25% (Bloomberg estimate: 14.6%).

• Net profit up 97.4% at Rs 45.2 crore vs Rs 22.9 crore (Bloomberg estimate: Rs 43.9 crore).

JBM Auto Q3 Earnings FY24 (Consolidated, YoY)

• Revenue up 41.2% at Rs 1,346.2 crore vs Rs 953.1 crore (Bloomberg estimate: Rs 1,254.9 crore).

• Ebitda up 48.1% at Rs 156.5 crore vs Rs 105.7 crore.

• Margin up 53 bps at 11.62% vs 11.08%.

• Net profit up 50.7% at Rs 52.1 crore vs Rs 34.5 crore. (Bloomberg estimate: Rs 50.1 crore).

Cochin Shipyard Q3 Earnings FY24 (Consolidated, YoY)

• Revenue up 64.6% at Rs 1,056.4 crore vs Rs 641.7 crore.

• Ebitda up 108.9% at Rs 310.1 crore vs Rs 148.5 crore.

• Margin up 621 bps at 29.35% vs 23.13%.

• Net profit up 103.3% at Rs 224.4 crore vs Rs 110.4 crore.

Voltas Q3 Earnings FY24 (Consolidated, YoY)

• Revenue up 30.9% at Rs 2,625.7 crore vs Rs 2,005.6 crore (Bloomberg estimate: Rs 2,414 crore).

• Ebitda down 63% at Rs 28.3 crore vs Rs 76.39 crore (Bloomberg estimate: Rs 112.7 crore).

• Margin down 273 bps at 1.07% vs 3.8% (Bloomberg estimate: 4.7%).

• Net loss at Rs 27.6 crore vs loss of Rs 110.5 crore (Bloomberg estimate: Profit of Rs 84.1 crore).

KEC International Q3 Earnings FY24 (Consolidated, YoY)

• Revenue up 14.4% at Rs 5,006.72 crore vs Rs 4,374.62 crore (Bloomberg estimate: Rs 4,963.5 crore).

• Ebitda up 54% at Rs 307.9 crore vs Rs 199.9 crore (Bloomberg estimate: Rs 338.7 crore).

• Margin up 158 bps at 6.14% vs 4.56% (Bloomberg estimate: 6.8%).

• Net profit at Rs 96.87 crore vs Rs 17.6 crore (Bloomberg estimate: Rs 100.8 crore).

Jaiprakash Associates Q3 Earnings FY24 (Consolidated, YoY)

• Revenue down 19.9% at Rs 1,502.6 crore vs Rs 1,876.3 crore.

• Ebitda down 48.5% at Rs 96.9 crore vs Rs 188 crore.

• Margin down 357 bps at 6.44% vs 10.01%.

• Net loss at Rs 473.8 crore vs loss of Rs 309.3 crore.

SIS Q3 Earnings FY24 (Consolidated, YoY)

• Revenue up 5.8% at Rs 3,073.4 crore vs Rs 2,904.3 crore (Bloomberg estimate: Rs 3,183.8 crore).

• Ebitda up 19.8% at Rs 151.3 crore vs Rs 126.3 crore (Bloomberg estimate: Rs 153.7 crore).

• Margin up 57 bps at 4.92% vs 4.34% (Bloomberg estimate: 4.8%).

• Net profit down 64.3% at Rs 36.9 crore vs Rs 103.4 crore (Bloomberg estimate: Rs 92.2 crore).