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Today's earnings were a definitely a missed bag! Tata Elxsi and ICICI Lombard defied analysts' expectations and registered lower profits. However, things were sunnier for Bank of Maharashtra and ICICI Prudential.
That's all for today folks! This is Khushi signing off, see you again tomorrow.
Before you leave, check the analyst estimates for tomorrow's earnings below:
Q3 Results On Jan 14: Infosys, HDFC AMC, Union Bank Of India — Check EstimatesICICI Prudential's Net profit grew 19% to Rs 387 crore while Net premium income was down 3.7% at Rs 11,809 crore
Bank of Maharashtra's net profit was up 26.5% at Rs 1,779 crore, along with its operating profit and net interest income which grew 18.8% and 16.2% to Rs 2,736 crore and Rs 2,943 crore respectively.
IT giant Tata Elxsi saw a downtick in its bottom-line as it made provisions for the new labour codes. Profit fell 29.7% to Rs 109 crore, even as revenue rose 3.9% to Rs 953 crore.
The net profit for ICICI Lombard General Insurance Company Ltd. slipped 9.1% to Rs 658.7 crore from Rs 724.38 crore in the year-ago period; thereby missing analysts' estimate of Rs 800 crore.
Just Dial Q3 highlights (QoQ)
Net Profit declines 1.3% Rs 118 crore versus Rs 119 crore
Revenue goes up 0.9% to Rs 306 crore versus Rs 303 crore
Ebitda up 9.4% to Rs 95 Cr versus Rs 87 crore
Margin at 31.2% versus 28.7%
Tata Elxsi's 4% sequential revenue growth was volume led, according to the management of the company.
"Growth was led by our transportation business, with accelerated ramp-ups in SDV led OEM deals won earlier in the year, and normalisation of workstreams and programs with a strategic OEM client that was impacted in the previous quarter", said CEO and MD Manoj Raghavan.
Combined Ratio at 104.5% vs 105.1% (QoQ)
Combined Ratio at 104.5% vs 102.7% (YoY)
Tata Elxsi Q3 Results Key Highlights (Consolidated, QoQ)
Net Profit down 29.7% At Rs 109 crore versus Rs 155 crore
Revenue up 3.9% to Rs 953 crore versus Rs 918 crore
EBIT up 17.4% to Rs 199 crore versus Rs 170 crore
EBIT margin At 20.9% versus 18.5%
The gross premium on the other hand saw an advance of 14.8% to Rs 7433 crore versus Rs 6474 crore in the year-ago period.
The net profit for ICICI Lombard General Insurance Company Ltd. slipped 9.1% to Rs 658.7 crore from Rs 724.38 crore in the year-ago period; thereby missing analysts' estimate of Rs 800 crore.
Tata Elxsi is projected to report a 3.5% sequential rise in revenue from operations at Rs 950 crore, as per consensus estimate compiled by Bloomberg.
Net profit may rise to Rs 174 crore from Rs 155 crore in the previous quarter.
The ICICI Group insurance company's net profit is expected to rise by 10% year-on-year to Rs 800 crore, but decline 2.6% quarter‑on‑quarter, as per consensus estimate compiled by NDTV Profit.
New Business Premium (NBP) is expected to rise to Rs 5,791 crore, reflecting a robust 15% year‑on‑year increase and a modest 2% growth sequentially. The company continues to maintain double‑digit momentum in new business generation, signaling sustained demand and stable underwriting activity.
ICICI Lombard closed over 1% lower ahead of results, while Tata Elxsi maintained optimism ahead of results and settled higher 1.75% higher.
Tata Elxsi's stock was trading 2% higher at Rs 5,804.50 apiece ahead of the company's third quarter results.
Bank Of Maharashtra Q3 Highlights (Standalone, YoY)
Net profit up 26.5% at Rs 1,779 crore versus Rs 1,406 crore
Operating profit up 18.8% at Rs 2,736 crore versus Rs 2,303 crore
NII up 16.2% at Rs 3,422 crore versus Rs 2,943 crore
Provisions down 13.4% at Rs 728 crore versus Rs 841 crore
Net NPA at 0.15% versus 0.18% (QoQ)
Gross NPA at 1.60% versus 1.72% (QoQ)
Kotak Mahindra Bank's board is set to meet on Jan 24 to review Q3 earnings.
Source: Exchange Filing
Shares of ICICI Prudential surged in trade after the company reported a 19% spike in net profit.
ICICI Prudential Q3 Highlights (Consolidated, YoY)
Net profit up 19% at Rs 387 crore versus Rs 325 crore
Net premium income down 3.7% at Rs 11,809 crore
61st month persistency ratio at 58.6% versus 62.6%
13th month persistency ratio at 81% versus 85.6%
Solvency ratio at 214.8% versus 213.2% (QoQ)
61st month persistency ratio at 58.6% versus 59.5% (QoQ)
13th month persistency ratio at 81% versus 81.4% (QoQ)
Tata Consultancy Services Ltd. has reported a Rs 2,128 crore impact in the December quarter of the financial year ending March 2026, due to the newly-introduced Indian Labour Codes, the company confirmed in an exchange filing.
This is in line with a Jefferies estimate, which claimed the new Labour Codes will have a minimum 10-20% hit on the net profit of Indian IT companies.
A Rs 2,128-crore hit taken from statutory Labour Codes, therefore, accounts for an impact of nearly 20% of TCS' Q3 profit, which stood at Rs 10,657 crore.
Goldman Sachs flagged the margin spike as largely one-off, attributing it to trade discounts from FMCG companies clearing pre-GST channel inventory. As a result, it does not see the gross margin expansion as sustainable.
ICICI Prudential's share price pared Tuesday's trading session's lows, and is currently trading 0.11% higher.
Operational efficiency may also show improvement, with the combined ratio declining sequentially by 89 basis points to 104.3%. This trend suggests better cost management and risk control, although the ratio remains slightly elevated.
Growth is expected to pick up due to improvement in health segment post GST exemption on retail health policies and uptick in motor sales.
Shares of Bank of Maharashtra advanced over 2% in intraday trade on Tuesday, ahead of their Q3 results.
Tata Elxsi is projected to report a 3.5% sequential rise in revenue from operations at Rs 950 crore, as per consensus estimate compiled by Bloomberg.
Net profit may rise to Rs 174 crore from Rs 155 crore in the previous quarter.
Operational income, denoted under earnings before interest and tax, is expected to rise 10% to Rs 187 crore from Rs 170 crore. EBIT margin will expand to 19.7% from 18.5%.
The ICICI Group insurance company's net profit is expected to rise by 10% year-on-year to Rs 800 crore, but decline 2.6% quarter‑on‑quarter, as per consensus estimate compiled by NDTV Profit.
New Business Premium (NBP) is expected to rise to Rs 5,791 crore, reflecting a robust 15% year‑on‑year increase and a modest 2% growth sequentially. The company continues to maintain double‑digit momentum in new business generation, signaling sustained demand and stable underwriting activity.
Hello, and welcome to NDTV Profit's coverage of the December quarterly reports released by India Inc.
Today, names like ICICI Lombard, ICICI Prudential Life Insurance Co, Bank of Maharashtra, and Tata Elxsi are in focus as they share their financial performance for the quarter in question.
Stay tuned to NDTV Profit for all the live updates!
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