Q4 RESULTS

Bank of Baroda profit rises to `4,886 cr

New Delhi: State-owned Bank of Baroda (BoB) on Friday posted a marginal 2.3 per cent rise in net profit at Rs 4,886 crore for the fourth quarter ended March 2024. The bank had earned a net profit of Rs 4,775 crore in the January-March quarter a year ago. The total income increased to Rs 33,775 crore during the quarter under review, as against Rs 29,323 crore in the same period last year, BoB said in a regulatory filing. Interest income grew to Rs 29,583 crore during the latest three-month period from Rs 25,857 crore in the corresponding quarter a year ago. On the asset quality side, the bank’s gross Non-Performing Assets (NPAs) moderated to 2.92 per cent of gross advances as of March 31, 2024, from 3.79 per cent at the end of March 2023. Net NPAs also declined to 0.68 per cent of the advances, from 0.89 per cent at the end of 2023.

Cipla net profit surges by 79%

Mumbai: Pharma major Cipla on Friday reported a 78.5 per cent surge in net profit to Rs 939 crore for the Jan-March quarter of 2023-24 compared to the corresponding figure of Rs 525 crore for the same period last year. The company’s revenue from operations increased 7 per cent year-on-year to Rs 6,163 crore in the fourth quarter. Cipla’s board of directors have recommended a payment of the final dividend of Rs 13 per equity share for the financial year ending March 2024. The company’s EBITDA (earnings before interest, taxes, depreciation and amortisation) for the quarter increased 13 per cent to Rs 1,316 crore as from Rs 1166 crore in the same period last year.

TVS Credit posts 33.43% rise in PAT at `148.29 cr

Chennai: TVS Credit Services Ltd has reported a 33.43 per cent rise in its standalone net profit for the January-March 2024 quarter at Rs 148.29 crore, on account of an increase in demand. The city-based non-banking financial company had registered a standalone net profit of Rs 111.13 crore, during the corresponding quarter last year. For the financial year ending March 31, 2024, the net profit of the company surged to Rs 571.83 crore, from Rs 388.68 crore a year ago. The standalone total revenue from operations grew to Rs 1,517.50 crore, from Rs 1,234.60 crore in the same period last year. For the financial year ending March 31, 2024, the standalone total income rose to Rs 5,789.57 crore, as against Rs 4,147 crore last financial year.

Servotech Power Systems net profit falls to `3.45 cr

New Delhi: Servotech Power Systems has reported a 43 per cent fall in its consolidated net profit to Rs 3.45 crore in the fourth quarter ended March 31, 2024, dragged by higher expenses. It had posted a profit of Rs 6.05 crore in the corresponding period of the previous fiscal, the company said in a regulatory filing on Thusrday. Consolidated revenue from operations during the quarter under review stood at Rs 136.65 crore as against Rs 119.98 crore in the year-ago period, it added. Total expenses in the fourth quarter were higher at Rs 132 crore as compared to Rs 112.25 crore in the same period a year ago. Among the expenses, the cost of raw materials rose to Rs 121.05 crore from Rs 102.89 crore in Q4 FY23.

Sundaram-Clayton posts standalone net at `20.73 cr

Chennai: Auto-component manufacturer Sundaram-Clayton Ltd has recorded a standalone profit for the quarter ending March 31, 2024, at Rs 20.73 crore. The city-based company had registered a standalone profit of Rs 17.61 crore in the corresponding period of last year. For the year ending March 31, 2024, the standalone net stood at Rs 64.52 crore. The standalone total income grew to Rs 540.01 crore, from Rs 533.78 crore registered in the same period of last year, Sundaram-Clayton Ltd said in a BSE filing. For the financial year ending March 31, 2024, the standalone total income was Rs 1,375.90 crore.