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Tag: PAT

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Transport Corporation of India Ltd. Announces Strong Q1/FY2025 Financial Results

Jul 29, 2024 by Mansi 0 Comments #financial results, #Mr. Vineet Agarwal, #PAT, #Transport Corporation of India Ltd.

Gurugram, India – July 29, 2024 – Transport Corporation of India Ltd. (TCI), India’s leading integrated supply chain and logistics solutions provider, today announced its financial results for the first quarter ended June 30, 2024.

Financial Highlights for Q1/FY2025:

Revenue: TCI reported a standalone revenue of ₹ Mn 9844, marking a growth of 10.9% compared to ₹ Mn 8875 in the same period last year.

EBITDA: The company’s Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) stood at ₹ Mn 1452, a 16.7% increase from ₹ Mn 1244 in Q1/FY2025.

 Profit After Tax (PAT): PAT rose by 26.3% to ₹ Mn 1052, compared to ₹ Mn 833 in the corresponding quarter of the previous year.

Standalone:

Performance Highlights: Q1/FY2025 vs. Q1/FY2024 Standalone (In ₹ Mn.)
Particulars 30.06.2024 30.06.2023 Growth %
Revenue 9844 8875 10.9%
EBIDTA 1452 1244 16.7%
PAT 1052 833 26.3%

Management Commentary:

Mr. Vineet Agarwal, Managing Director, Transport Corporation of India Ltd. said, “We have delivered a robust performance in the first quarter of FY2025. All our product segments serving various industry verticals have grown, especially coastal shipping, rail multimodal solutions, 3PL/warehousing and cold chain logistics. Our focus remains on providing value added and technologically advanced customized offerings to our customers.

TCI continues to innovate and develop sustainable solutions through investments in rail and coastal multimodal assets & networks. We are enabling our customers to reduce their GHG emissions by increasing our fleet of BS VI vehicles and by adopting alternate fuels like Electric, CNG & LNG.

The recent union budget has laid out a clear roadmap for the growth of the logistics sector as envisioned in the National Logistics Policy. TCI continues to invest in critical infrastructure like warehouses, yards and leverage big data from e-waybills and FASTag to estimate demand and enhance logistics efficiency for our customers.

To bolster multimodal capabilities, the Company has placed orders for building of two 7300 MT dead weight capacity cellular container vessels for a total contract price of USD 38.80 Mn. The ships are expected to be delivered by end 2026.

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Anant Raj Limited Announces Q1 FY2025 Results with a 63.5% Surge in PAT

Jul 29, 2024 by Mansi 0 Comments #Anant Raj Limited, #PAT, #real estate sector

Anant Raj Limited, a leading name in the real estate sector, has announced its unaudited standalone financial results for the quarter ended June 30, 2024. The company has demonstrated a strong financial performance, showcasing significant growth in both income and profit metrics.

Key Financial Highlights for Q1 FY2025:

Total Income:

  • The company reported a total income of ₹284.29 crores for the quarter ended June 30, 2024, marking a substantial increase of 50.9% from ₹188.36 crores in the corresponding quarter of the previous year. This is also an improvement of 2.3% from ₹277.99 crores in the preceding quarter ended March 31, 2024.

 Total Expenses:

  • Total expenses for the quarter were ₹227.43 crores, compared to ₹153.42 crores in the same quarter last year and ₹231.78 crores in the preceding quarter. The expenses include cost of sales, employee benefits, finance costs, depreciation and amortisation, and other expenses.

 Profit Before Tax:

  • ARL’s profit before tax stood at ₹56.86 crores for the quarter, up 62.8% from ₹34.94 crores in the same period last year and 23.0% from ₹46.21 crores in the previous quarter.

 Profit for the Period (PAT):

  • The profit for the period was ₹42.28 crores, a significant increase of 63.5% from ₹25.86 crores in the corresponding quarter of the previous year. In the preceding quarter ended March 31, 2024, the profit was ₹40.83 crores, representing an increase of 3.6%.

anant raj limited

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ICICI Lombard First Quarter Results: PAT grows by 50 percent

Jul 26, 2024 by Mansi 0 Comments #50 percent, #ICICI Lombard, #PAT, #Quarter Result
  • Gross Direct Premium Income (GDPI) of the Company stood at ₹ 76.88 billion in Q1 FY2025 compared to ₹ 63.87 billion in Q1 FY2024, a growth of 20.4%, which was higher than the industry growth of 13.3%. Excluding crop and mass health, GDPI growth of the Company was at 19.7%, which was higher than the industry growth of 14.8% in Q1 FY2025.
  • Combined ratio stood at 102.3% for Q1 FY2025 compared to 103.8% for Q1 FY2024.
  • Profit before tax (PBT) grew by 48.8% to ₹ 7.74 billion in Q1 FY2025 as against ₹ 5.20 billion in Q1 FY2024.

o   Capital gains were at ₹ 2.84 billion in Q1 FY2025 as against ₹ 1.23 billion in Q1 FY2024.

  • Consequently, Profit after tax (PAT) grew by 48.7% to ₹ 5.80 billion in Q1 FY2025 as against ₹ 3.90 billion in Q1 FY2024.
  • Return on Average Equity (ROAE) was 19.1% in Q1 FY2025 compared to 14.7% in Q1 FY2024.
  • Solvency ratio was 2.56x as at June 30, 2024 as against 2.62x as at March 31, 2024 which was higher than the minimum regulatory requirement of 1.50x.

Operating Performance Review :       

Financial Indicators Q1 FY2024 Q1 FY2025 Growth % FY2024
GDPI 63.87 76.88 20.4% 247.76
PBT 5.20 7.74 48.8% 25.55
PAT 3.90 5.80 48.7% 19.19

Ratios :

Financial Indicators Q1 FY2024 Q1 FY2025 FY2024
ROAE (%) – Annualised 14.7% 19.1% 17.2%
Combined ratio (%)* 103.8% 102.3% 103.3%

  CoR revised for Q12024 & FY2024 basis IRDAI master circular dated May 17, 2024.

 Notes:

Combined Ratio = (Net Incurred Claims/ Net Earned Premium) + (Management Expenses – Commission on Reinsurance)/ Net Written Premium

Management Expenses = Commission Paid Direct + Commission Paid on Reinsurance inward + Operating expenses related to insurance business

Return on Average Equity (ROAE) = Profit After Tax / ((Opening Net Worth + Closing Net Worth)/2)

Net Worth = Share Capital + Reserves & Surplus

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IDFC FIRST Bank PAT Increases by 21% YOY to Rs. 2,957 Crore for FY 24

Apr 29, 2024 by Sujata 0 Comments #IDFC, #Mr. V Vaidyanathan, #PAT

April 29, 2024 Mumbai, Maharashtra, India
Financial results at a glance

The Board of Directors of IDFC FIRST Bank, in its meeting held today, approved the audited financial results for the quarter and the year ended March 31, 2024.

Yearly Profitability

  • Net Profit grew 21% YOY from Rs. 2,437 crore in FY23 to Rs. 2,957 crore in FY24. Excluding trading gains from both the years, the growth in PAT was at 28% YOY.
  • Core Pre-Provisioning Operating Profit (PPOP excluding trading gains) grew by 31% YOY from Rs. 4,607 crore in FY23 to Rs. 6,030 crore for FY24.
  • Net Interest Income (NII) grew 30% YOY from Rs. 12,635 crore in FY23 to Rs. 16,451 crore in FY24.
  • Net Interest Margin increased from 6.05% in FY23 to 6.36% in FY24, based on AUM.
  • Fee and Other Income grew by 40% YOY from Rs. 4,142 crore in FY23 to Rs. 5,795 crore in FY24.
  • Retail fees constitute 93% of the overall fees for FY24.
  • Core Operating income grew 33% from Rs. 16,777 crore in FY23 to Rs. 22,245 crore in FY24.
  • Operating Expense grew by 33% YOY from Rs. 12,170 crore in FY23 to Rs. 16,216 crore in FY24.
  • Provisions increased 43% YOY from Rs. 1,665 crore in FY23 to Rs. 2,382 crore in FY24.
  • The credit cost as % of average funded assets for FY24 was 1.32%.
  • RoA stood at 1.10% for FY24; RoE stood at 10.30% for FY24.

Quarterly Profitability

  • Net Profit for Q4 FY24 stood at Rs. 724 crore as compared Rs. 803 crore in Q4 FY23. The PAT for Q4 FY 23 was Rs. 701 crore excluding one-time items already called out in Q4 FY23.
  • Net Interest Income (NII) grew 24% from Rs. 3,597 crore in Q4 FY23 to Rs. 4,469 crore in Q4 FY24.
  • Fee and Other Income grew 36% from Rs. 1,181 crore in Q4 FY23 to Rs. 1,610 crore in Q4 FY24.
  • Operating Expenses grew 29% from Rs. 3,436 crore in Q4 FY23 to Rs. 4,447 crore in Q4 FY24.
  • Core PPOP (Pre-Provisioning Operating Profit excluding trading gain) for the quarter grew by 22% from Rs. 1,342 crore in Q4 FY23 to Rs. 1,632 crore in Q4 FY24.
  • Provisions increased 50% from Rs. 482 crore in Q4 FY23 to Rs. 722 crore in Q4 FY24.

Deposits & Borrowings

  • Total Deposits (including Certificate of Deposits) of the Bank increased by 38.7% YOY from Rs. 1,44,637 crore as of March 31, 2023 to Rs. 2,00,576 crore as of March 31, 2024.
  • Customer Deposits increased by 41.6% YOY from Rs. 1,36,812 crore as of March 31, 2023 to Rs. 1,93,753 crore as of March 31, 2024.
  • CASA Deposits grew by 31.7% YOY from Rs. 71,983 crore as of March 31, 2023 to Rs. 94,768 crore as of March 31, 2024.
  • CASA Ratio stood at 47.2% as of March 31, 2024.
  • Retail Deposits grew by 45.7% YOY from Rs. 1,03,870 crore as of March 31, 2023 to Rs. 1,51,343 crore as of March 31, 2024.
  • Retail Deposits as a % of total customer deposits increased from 75.9% as of March 31 2023 to 78.1% as of March 31, 2024.
  • Legacy High-Cost Borrowings reduced from Rs. 17,673 crore as of March 31, 2023 to Rs. 11,809 crore as of March 31, 2024.
  • The Bank opened 135 new branches during FY24 to reach branch count of 944 by March 31, 2024.

Loans and Advances

Loans and Advances (including credit substitutes) increased by 25.1% YOY from Rs. 1,60,599 crore as of March 31, 2023 to Rs. 2,00,965 crores as of March 31, 2024.
Infrastructure Project finance now constitutes only 1.4% of total funded assets as of March 31, 2024.
Exposure to top 20 single borrowers improved from 7.0% as of March 31, 2023, to 5.7% as of March 31, 2024.
The incremental Credit to Deposit ratio for FY24 was 76.2%.
Total Credit to Deposit Ratio improved from 107.0% as of March 31, 2023 to 98.4% as of March 31, 2024.

Assets Quality

Gross NPA improved 63 bps from 2.51% as of March 31, 2023 to 1.88% of March 31, 2024, improved by 16 bps on QOQ basis.
Net NPA improved 26 bps from 0.86% as of March 31, 2023 to 0.60% of March 31, 2024, and improved by 8 bps on QOQ basis.
GNPA of Retail, Rural and SME Finance has improved by 27 bps from 1.65% as of March 31, 2023 to 1.38% as of March 31, 2024, and improved by 7 bps on QOQ basis.
NNPA of Retail, Rural and SME Finance has improved by 11 bps from 0.55% as of March 31, 2023 to 0.44% as of March 31, 2024, improved by 7 bps on QOQ basis.
Excluding infrastructure financing, which is in run down mode, the GNPA and NNPA of the Bank is 1.55% and 0.42% respectively as of March 31, 2024.
SMA-1 & 2 (31-90 DPD which is the pre-NPA stage) in Retail, Rural and SME Finance portfolio is low at 0.85% as of March 31, 2024 (reduced from 0.87% as of March 31, 2023).
Provision Coverage Ratio (including technical write-off) has increased from 80.29% as of March 31, 2023, to 86.58% as of March 31, 2024.
Net Stressed Assets (including Net NPA, Net Security Receipts and Net Restructured Assets) as % of total Assets improved from 0.84% as of March 31, 2023 to 0.56% as of March 31, 2024.

Capital Position

Capital Adequacy of the Bank stood at 16.11% with CET-1 Ratio at 13.36% as on March 31, 2024.

Comments from Managing Director & CEO

Mr. V Vaidyanathan, Managing Director and CEO, IDFC FIRST Bank, said,

“It is my delight to share that we have crossed a landmark of Rs. 4,00,000 crore mark of Total Deposits and advances including credit substitutes at the Bank. What is more important for us is that the asset quality continues to be maintained at all-time best of GNPA and NNPA of 1.88% and 0.60% respectively, the lowest NPA in our history. All legacy infrastructure loans are fully factored into the above. Excluding infrastructure loans, the GNPA and NNPA is only 1.55% and 0.42% respectively. All asset quality parameters are stable.

Our deposit raising franchise is our biggest strength. Our CASA ratio continues to be among the best in the industry at around 47%. Our Incremental Credit to Deposit ratio for FY 24 was low at 76%. The CD ratio has come down to 98.4%, i.e. below 100% for the first time and we expect to further reduce this into FY 25.

The PAT grew 21% YoY to Rs. 2957 cr in FY 24. More important, the core PPOP (excluding trading gain) grew by 31% YOY for the year to cross Rs. 6,000 crores for the first time in our history. Such scale and strong profitability give us the strength to participate in the wonderful opportunities in Indian financial services. We look forward to the future with confidence and optimism.”