Indiabulls Housing Q3 PAT falls 8% YoY to Rs 303 cr.
Consolidated profit before tax declined 3% to Rs 424.09 crore in Q3 FY22 over Q3 FY21. Operating profit before provisions and contingencies declined 17.8% to Rs 497.93 crore in Q3 FY22 from Rs 605.58 crore posted in the same quarter last year.
On the asset quality front, the housing finance company's gross non-performing assets (NPAs) stood at Rs 2,350 crore as on Q3 FY22 as against Rs 2,074 crore as on Q2 FY22 and Rs 2,268 crore as on Q1 FY22.
The ratio of gross NPAs to gross advances stood at 3.18% as on Q3 FY22 as against 2.69% as on Q2 FY22 and 2.86% as on Q1 FY22. Indiabulls said marginal increase in NPA is technical in nature and will get rolled back over the next two to three quarters.
Total provisions stood at Rs 2,774 crore which is at 4.5% of loan book, which is 3.1x times of the regulatory requirement and 118% of Gross NPAs.
The NBFC total loan book as at the end of Q3 FY22 stood at Rs 60,979 crore as compared to Rs 64,062 crore posted in Q2 FY22.
Going forward, Indiabulls expects strong capital adequacy, low gearing, high liquidity and robust provisioning to provide strong balance sheet foundation for growth from FY23.
Indiabulls Housing Finance is a housing finance company, regulated by the National Housing Bank (NHB). The company offers competitively priced home loans in the affordable housing segment.
Shares of Indiabulls Housing Finance were trading 0.22% lower at Rs 206.25 on BSE in morning trade.
Aurobindo Pharma Q3 PAT tumbles 80% YoY to Rs 604 cr.
Consolidated profit before tax (PBT) dropped 80.2% to Rs 793.78 crore in Q3 FY22 from Rs 4,005.40 crore in Q3 FY21. EBITDA (before forex and other income) skid 20.6% to Rs 1,016.30 crore in Q3 FY22 as compared to Rs 1,280.70 crore in Q3 FY21. EBITDA margin stood at 16.9% in Q3 December 2021 from 21.1% in Q3 December 2020.
Research & Development (R&D) spend stood at Rs 393 crore, which was 6.6% of revenues. The pharmaceutical company received final approval for 4 ANDAs including 1 injectable product from the US-based drug regulator, USFDA.
On a consolidated basis, total formulations fell 12.1% to Rs 4,992.20 crore in Q3 December 2021 as against Rs 5,682.40 crore in Q3 December 2020. Formulation revenue for continuing operations for the quarter, accounted for 83.1% of total revenues.
Total Active Pharmaceutical Ingredients (API) grew 48% to Rs 1,010 crore in Q3 FY22 over Rs 682.50 crore in Q3 FY21. In Q3 FY22, API business contributed 16.8% to the consolidated revenues. The company filed 2 DMFs with USFDA during the quarter. Gross sales slipped 5.7% to Rs 6,002.20 crore in Q3 FY22 as against Rs 6,364.90 crore in Q3 FY21.
Commenting on the Q3 performance, K. Nithyananda Reddy, the vice-chairman and managing director (MD) of the company, said, The quarter's performance was impacted by high input and freight costs, that weighed on profitability. However, our business was resilient in delivering steady revenues, led by API business benefitting from improved demand for our key products. We made progress in optimizing our working capital during the quarter that has strengthened our balance sheet further. We remain committed to resolve the regulatory issues affecting some of our facilities and are continuing to make steady progress in our complex generic product development plans. As a company, we are focused on executing on our key growth drivers to drive sustained improvement in profitability and enhance stakeholder value.
Shares of Aurobindo Pharma rallied 3.86% to Rs 680.55 on BSE. Hyderabad-based Aurobindo Pharma develops, manufactures and distributes generic pharmaceuticals, branded specialty pharmaceuticals and active pharmaceutical ingredients.
Petronet LNG Q3 PAT rises 31% YoY to Rs 1,159 cr.
Consolidated net revenue from operations surged nearly 72% to Rs 12,597.22 crore in Q3 FY22 over Q3 FY21. Profit before tax came at Rs 1,548.66 crore in Q3 FY22, rising 31.7% from Rs 1175 crore posted in the corresponding period last year.
Petronet LNG was formed as a joint venture by the Government of India to import LNG and set up LNG terminals in the country, involving India's leading oil and natural gas industry players like GAIL (India), Oil & Natural Gas Corporation (ONGC), Indian Oil Corporation (IOCL) and Bharat Petroleum Corporation (BPCL). Each company held 12.50% stake in Petronet as on 31 December 2021.
Shares of Petronet LNG rose 0.37% to Rs 218.8 on BSE. The result was announced after market hours yesterday, 9 February 2022.
SAIL Q3 PAT rises 4% YoY to Rs 1,529 cr.
On a standalone basis, Steel Authority of India (SAIL)'s net profit rose 12.46% to Rs 1,443.10 crore on 27.29% increase in net sales to Rs 25,245.92 crore in Q3 December 2021 over Q3 December 2020. EBITDA fell 30.88% year-on-year to Rs 3659 crore in Q3 December 2021.
Borrowings stood at Rs 19,128 crore for 31 December 2021, down 15% sequentially.
For the quarter under review, SAIL's hot metal production stood at 4.9 million tonne (up 1.83% YoY); its crude steel production was at 4.5 million tonne (up 3.73% YoY) and the saleable steel production was at 4.4 million tonne (up 5.10% YoY).
SAIL said it has delivered one of its best physical performances during the quarter as well as nine months ending 31st December 2021. However, the same is not reflected in the financial performance of Q3 FY'22 due to various factors beyond the control of the company which primarily include unprecedented increase in the prices of imported and indigenous coking coal. With the overall positive outlook in the economy and the announcements in the Union Budget for increasing the infrastructure spending, the performance is likely to improve in the coming quarters. The company said its focus remains to lower its borrowings and this is reflected in the reduction of about 15% over Q2.
During the quarter, the company implemented revised salaries and wages, effective 1 April 2020, after the expiry of long-term wage agreements with employees on 31 December 2016, the filing said. The employees benefit expenses charged to the statement of profit and loss (net off provision for wage revision) for the quarter stood at Rs 46.97 crore.
Another Rs 425.74 crore was charged to the statement of profit and loss on account of revised actuarial valuation of employees-related liabilities owing to implementation of wage revision.
Accordingly an amount of Rs 363.92 crore has been charged under exceptional item in the statement of profit and loss for the quarter ended 31st December 2021.
SAIL is one of the largest steel-making companies in India and one of the Maharatnas of the country's Central Public Sector Enterprises. It produces iron and steel at five integrated plants and three special steel plants, located principally in the eastern and central regions of India and situated close to domestic sources of raw materials. SAIL manufactures and sells a broad range of steel products.
Shares of SAIL were up 0.82% at Rs 104.45.
