Finance Update

Q3 FY19 Earning Highlights: TFM’s Report – Part 2

Q3 FY19 Earning Highlights: TFM’s Quick Finance Report – Part 2

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IDFC (Q3, YoY)
Net interest income down 33% to Rs. 8 crore.
Net profit to Rs. 26 crore versus Rs. 2 crore.

Andhra Bank Q3 net loss widens
Andhra Bank reported Q3 results for the quarter ended December 31, 2018: Net loss at Rs. 578.6 crore versus Rs. 532 crore (Y-o-y) Net interest income at Rs. 1,698.27 crore versus Rs. 1,672.21 crore (y-o-y) Andhra Bank, result, earnings

Corporation Bank post Q3 net profit at Rs. 60.5 crore
Corporation Bank reported Q3 results for the quarter ended December 31, 2018: Net Interest Income up by 3.1% to Rs. 1303 crore Net profit at Rs. 60.5 crore versus net Loss of Rs 1240.5 crore Provisions at Rs. 842.3 crore (QoQ) GNPA at 17.36% versus 17.46% (QoQ) NNPA at 11.47% versus 11.65% (QoQ)

Karur Vysya Bank reports Q3 numbers
Net profit slipped by 70.3% y-o-y to Rs. 21.2 crore from Rs. 71.5 crore
NII rose by 3.4% y-o-y to Rs. 580.8 crore from Rs. 561.6 crore

Sakthi Sugars Q3 net loss at Rs. 19 crore.
Net loss at Rs. 19 crore versus net loss of Rs. 42.2 crore y-o-y
Revenue rose by 24.8% to Rs. 105.2 crore from Rs. 84.3 crore

Oracle Financial Services Q3 net profit slips by 13.1%
Revenue down by 2.3% to Rs. 1,185.9 crore
Net profit down by 13.1% to Rs. 306 crore
Ebitda up by 0.2% to Rs. 499.6 crore

NBCC reported Q3 results for the Quarter ended December 31, 2018
Revenue up 29.3% to Rs.2,438.8 crore
Net profit up by 22.4% to Rs.83.6 crore
Ebitda down by 16.1% to Rs.70.8 crore
Margin at 2.9% versus 4.5%.
Other Expenses up 66 percent to Rs.34 crore.

Lemon Tree Hotels Q3 net profit surges by 38.9%
Revenue up by 8.3% to Rs.143.4 crore
Net profit rose by 38.9% to Rs.12.5 crore
Ebitda up by 14.7% to Rs.49.1 crore
Margin at 34.2% versus 32.3%

Fortis Healthcare Q3 net profit widens
Revenue down 1.6% to Rs.1103.3 crore.
Net loss to Rs.197.1 crore versus net loss to Rs.36.8 crore
Ebitda down by 26.4% to Rs.38 crore
Margin at 3.4% versus 4.6%

Gujarat Fluoro reports a good set of Q3 numbers
Net profit jumped by 96.9% y-o-y to Rs. 138 crore from Rs. 70 crore
Revenue rose by 53.8% y-o-y to Rs. 1,490 crore from Rs. 969 crore
EBITDA advanced by 94.2% y-o-y to Rs. 360.3 crore from Rs. 185.5 crore

Take Solutions Q3 net profit dips by 13.01% y-o-y
Net profit fell by 13.01% to Rs. 35.76 crore from Rs. 41.11 crore
Revenue surged by 27.84% to Rs. 521.64 crore from Rs. 408.02 crore

Greenlam Industries net profit surges by 14% y-o-y
Net profit rose by 14.1% to Rs. 20 crore from Rs. 17 crore
Revenue surged by 12% to Rs. 314 crore from Rs. 280.3 crore
EBITDA increased by 5.1% to Rs. 41.1 crore from Rs. 39.1 crore

Adani Gas reported Q3 result for the quarter ended December 31, 2018:
Net profit slipped by 6.8% q-o-q to Rs. 47 crore from Rs. 51 crore
Revenue rose by 8.1% q-o-q to Rs. 457.3 crore from Rs. 423.2 crore
EBITDA up by 1.3% q-o-q to Rs. 106.9 crore from Rs. 105.6 crore

Bosch Q3 net profit rises by 19.3% y-o-y
Net profit rose by 19.3% y-o-y to Rs. 335.4 crore from Rs. 281 crore
Revenue up by 0.8% y-o-y to Rs. 3,095.5 crore from Rs. 3,072 crore
EBITDA increased by 5.6% to Rs. 422.6 crore from Rs. 447.2 crore

Bharat Forge Q3 net profit at Rs. 309.8 crore
Net Profit at Rs. 309.8 crore
Revenue at Rs. 1,692.5 crore
EBITDA at Rs. 525.8 crore
EBITDA margin at 31.1%

CG Power Q3FY19 results revenues and margins broadly inline
CG Power reported 11.9% y-o-y growth in revenues for Q3FY2019 at Rs. 1720 crore which was marginally above our estimates led by 34% YoY revenue growth in the industrial segment.
Operating Margins were almost flat and expanded by 15 BPS y-o-y to 8.6% which was lower than our estimates led by higher input cost and lower other expenses. Operating profit were higher by 13.9% to Rs 148.5 crore
Adjusted Pat stood at Rs 47 crore for the quarter vs. Rs. 83 crore in Q3FY2018 which was lower by 43% Y-o-Y. Net loss of Rs 150 crore vs. net loss of Rs 28 crore considering the discontinued operation
Exceptional loss of Rs 116 crore due to foreign exchange loss and write off of debtors (Rs 108 crore)
Losses from discontinued operation stood at Rs 81 crore vs. Rs 109 crore in Q3FY18.

Natco Q3FY2019 performance in line with expectation
Sales for the quarter reported marginal decline of 0.9% to Rs 556.7 crore.
Operating profit declined by 27.3% to Rs 208.4 crore, OPM stood at 37.4% (58 BPS fall)
Adjusted PAT de-grew by 26.5% to Rs 159.5 crore.
The decline in profits during the quarter (as expected) compared to last year was predominantly due to margin reduction of gTamiflu in the USA market.
Board has recommended an interim dividend of INR 3.50 per equity share of INR 2/-each.

Sadbhav Infrastructure reports weak Q3FY2019 result
Sadbhav Infrastructure Project reported adjusted net loss of Rs. 82 crore (adjusting for Rs. 53 crore net claim amount recognized) in Q3FY2019 as against net loss of Rs. 75 crore in Q3FY2018 and net loss of Rs. 68 crore in Q2FY2019.
The net revenue grew healthy at 74% y-o-y (up 12.5% q-o-q) to Rs. 955 crore.
However, higher contribution from revenue from construction contracts led to lower operating margins (30.8% Vs 49.6% in Q3FY2018 and 36.6% in Q2FY2019) which led to increase in adjusted net loss for the quarter.

Bata India Q3FY19 net profit rises by 51% y-o-y
For Q3FY2019, Bata reported revenue growth of 15.5% to Rs. 778.7 crore, in line with our estimation of Rs. 768.4 crore boasted by festive season & revenue mix. We believe the same store sales growth stood at 12% (and 8% in 9MFY19).
Gross margins increased by 350bps y-o-y at 58.6%, highest since past many quarters. Better product mix and muted input cost has led to this strong gross margin expansion.
In line with robust gross margin performance, OPM expanded by 447bps y-o-y at 21% (also highest since past many quarters). This was also due to dip in rental cost as a percentage to sales by ~80bps y-o-y. Operating profit came in at Rs. 163.6 crore, up by 46.8% y-o-y.
Strong operational performance led PAT to grow by 51.3% y-o-y to Rs. 103.2 crore, ahead of our expectation of Rs. 84.1 crore.
Bata has reported yet another strong quarter on the back of addition of multiple new red-concept stores, renovation of existing stores and refreshed products across categories.

Indian Hotels Q3FY19 revenue surges by 10.5% y-o-y
Indian Hotels Q3FY19 revenues grew by 10.5% yoy to Rs. 1,325.3 crore largely in-line with our expectation for the quarter. The double digit growth is attributable to steady improvement in occupancies and higher ARRs both in domestic and international properties (US and London properties registered strong performance during the quarter). The standalone revenues grew by 6% (on a high base) largely on account of 200+BPS improvement in occupancy rate and about 4% increase in ARRs.
As anticipated OPM improved by 192BPS to 25.4% and the operating profit grew by ~20% to Rs 335.5 crore
This along with lower interest cost the adjusted PAT (before exceptional item and share of profit from associates) grew by 77.2% to Rs. 132.1 crore.
Indian Hotels Q3FY19 was much better than some of the earlier quarters on back of higher room sales due to season and operating efficiencies.

Ipca Labs posts good Q3 numbers
Net profit rose by 51.7% y-o-y to Rs. 160.2 crore from Rs. 105.6 crore
Revenue surged by 10.2% y-o-y to Rs. 947.6 crore from Rs. 859.6 crore
EBITDA advanced by 43.4% y-o-y to Rs. 231.7 crore from Rs. 161.7 crore

HEG reports healthy Q3 against low base during the same quarter last year
Net profit jumped by 154% to Rs. 867 crore from Rs. 342 crore
Revenue rose by 121% to Rs. 1,865 crore from Rs. 843 crore
EBITDA surged by 136% to Rs. 1,313.5 crore from Rs. 557.5 crore

GNFC Q3 net profit dips by 27.3% y-o-y
Gujarat Narmada Valley Fertilizers and Chemicals (GNFC) reported Q3 result for the quarter ended December 31, 2018: Net profit slipped by 27.3% to Rs. 165.7 crore Revenue down by 23.4% to Rs, 1219.2 crore Ebitda down 81.3% to Rs. 80 crore Margin at 6.6% versus 26.9% Gujarat Narmada Valley Fertilizers and Chemicals, GNFC, result, earnings

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Q3 FY19 Earning Highlights: TFM’s Report – Part 1

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