Q4 Results 2022: The state-run Indian Oil Corporation (IOC) on Tuesday announced its March quarter results. Other listed companies, including Dr Lal Path Labs, Bajaj Electricals and IRB Infra, were among the companies announcing their January-March quarterly earnings. Here are the main highlights of the results:
IOC Q4 Results 2022: Net Decrease in Q4 31.4%; Record profit in FY22
State-owned Indian Oil Corporation (IOC) on Tuesday reported a 31.4 per cent decline in net profit for the fourth quarter. Petrochemical’s margin squeeze and losses in auto fuel sales were the main reasons for the fall, the PTI report said.
Separate net profit of Rs 6,021.88 crore or Rs 6.56 per share in January-March, compared to Rs 8,781.30 crore or Rs 9.56 per share in the same period a year ago, the company said in a stock exchange filing.
In the first quarter, the profit was more than Rs 5,860.80 crore.
With the rise in oil prices, the revenue from operations increased to Rs 2.06 lakh crore in the last quarter of the current financial year ending March 31 from Rs 1.63 lakh crore a year ago.
Despite the rise in crude oil prices, IOC and other public sector oil companies have maintained petrol and diesel prices for record times. They started raising prices from March 22.
Pre-tax revenue from sales of petroleum products declined by 8 per cent to Rs 8,251.29 crore, while that from petrochemical business declined by 72 per cent to Rs 570.18 crore.
The company’s board has recommended the issue of bonus shares in the ratio of 1: 2 – a new bonus equity share of Rs 10 for every two existing equity shares.
It also declared a final dividend of Rs 3.60 per equity share (pre-bonus), which translates to a final dividend of Rs 2.40 per equity post-bonus for the financial year 2021-22.
The final dividend is in addition to the interim dividend (pre-bonus) of Rs 9.00 per share paid earlier.
For the full fiscal year (April 2021 to March 2022), the company posted a record net profit of Rs 30,443.93 crore, up 15 per cent from the previous financial year.
There has been a surge in refining margin growth. The firm earned 11. 11.22 per barrel to convert crude oil into fuel, compared to a gross refining margin of USD 5.64 the previous year.
After offsetting the original GRM or current price GRM inventory profit for 2021-22, it came in at USD 7.61 per barrel, it said.
Shares of IOC closed at Rs 124.30 on the NSE today and rose nearly 2 percent from Monday’s closing price.
Dr. Lal Pathlabs 2022 Q4 Result: Net profit down 27% to Rs. 62 crore
On Tuesday, Dr Lal Pathlabs said that its consolidated net profit for the fourth quarter ended March 31, 2022, fell 27 per cent to Rs 62 crore.
The company had reported a net profit of Rs 85 crore for the January-March period a year ago.
Revenue from operations, however, rose to Rs 485 crore in the fourth quarter from Rs 431 crore in the year-ago period, Dr Lal Pathlabs said in a statement.
For the year ended March 31, 2022, the company posted a consolidated net profit of Rs 350 crore as against Rs 296 crore in 2020-21.
Revenue from operations increased to Tk 2,087 crore from Tk 1,581 crore in 2020-21.
The company said it had approved a final dividend of Rs 6 per share at a face value of Rs 10 per share for the year ended March 31, 2022.
Shares of Dr Lal Pathlabs ended at Rs 2,185 on the NSE and fell nearly 1 per cent.
Bajaj Electricals Q4 Results 2022: Profit down 29% to Rs 39 crore
Bajaj Electricals posted a net profit of Rs 38.67 crore for the fourth quarter ended March 2022, down 28.73 per cent.
Bajaj Electricals said in a regulatory filing that the company had a net profit of Rs 54.26 crore in the March quarter of the previous fiscal.
However, total revenue from activities increased by 6.02 per cent to Rs 1,334.32 crore during the quarter under review from Rs 1,258.47 crore in the year-ago period.
The total expenditure for the March quarter of 2021-22 was Rs 1,299.61 crore as against Rs 1,214.47 crore in the year-ago period.
Revenue from consumer goods was Rs 1,037.69 crore as against Rs 975.18 crore.
Revenue from EPC (Engineering Procurement and Construction) was Rs 296.50 crore as against Rs 283.17 crore.
Bajaj Electricals Executive Director Anuj Poddar said it was a challenging quarter, primarily due to product price pressures.
“There was a certain contraction in our margins but the good news is that we have maintained growth in our consumer business. This is the third quarter in a row when we have sold Rs 1,000 crore and consumer business,” Poddar told PTI.
In some segments, such as fans and lighting, Bajaj Electricals grew by 20 percent and more than 30 percent in January-March.
“Our EPC business has had a break even in 4Q, which is important,” he said.
Moreover, the company has become “net-debt-free” after nearly two decades, Poddar added.
For the financial year ended March 2022, Bajaj Electricals’ consolidated net profit fell 34.16 per cent to Rs 124.41 crore. It has earned a net profit of Rs 188.96 crore in 2020-21.
Revenue from operations in 2021-22 was Rs 4,727.69 crore. This is 3.97 per cent higher than the previous year’s Rs 4,546.90 crore.
Shares of Bajaj Electricals rose 8.24 per cent to close at Rs 988.85 on Tuesday.
IRB Infra Q4 Results 2022: Profit rises 79% to Rs 175 crore
IRB Infrastructure Developers Ltd jumped 79.04 per cent to Rs 175 crore in its consolidated net profit for the fourth quarter ended March 2022 on Tuesday.
IRB Infrastructure Developers said in a BSE filing that the company had posted a net profit of Rs 97.45 crore in the year-ago quarter.
Its total revenue for the January-March 2022 quarter increased to Rs 1,682.72 crore from Rs 1,650.40 crore in the year-ago period.
The cost of the firm stood at Rs 1,379.90 crore as against Rs 1,474.27 crore a year ago.
The company said in a statement that the financial numbers and toll collection numbers were a clear indication of a resumption of economic activity across the country after the Lockdown imposed by the Kovid-19 epidemic eased.
Birendra D Mahiskar, Chairman and Managing Director, IRB Infrastructure Developers Limited, said, “We have seen a strong increase in collection throughout the project as epidemic restrictions were relaxed and farmers’ protests were withdrawn.”
“We are back on the growth trajectory and will follow our best strategy to unlock prices on a regular basis to realize returns for our shareholders,” he added.
IRB Infrastructure shares ended green on the NSE today. They were trading at Rs 217.60 at the close and rose nearly 2 per cent from Monday’s closing price.