Adani Ports and Special Economic Zone Ltd (APSEZ) on Tuesday posted over 80 per cent rise in its consolidated net profit to Rs 2,119.38 crore in the April-June quarter on account of higher income.
It had reported a net profit of Rs 1,177.46 crore in the April-June period of 2022-23, the company said in a filing.
The company’s total income surged to Rs 6,631.23 crore in the quarter under review from Rs 5,526.19 crore in the year-ago quarter. Expenses declined to Rs 4,065.24 crore in the period from Rs 4,438.32 crore a year ago.
CEO Karan Adani said, “APSEZ delivered its strongest ever quarterly operating performance during Q1 FY24, with highest ever quarterly cargo volumes, revenue, EBITDA and 200 bps jump in domestic market share.”
Birla Corp
Post-tax profit of Birla Corporation Limited declined marginally by 3.6 per cent at Rs 60 crore in the first quarter of ending June 2023 of the current financial year as compared to Rs 62 crore in the similar previous period.
Revenue of the MP Birla flagship company increased to Rs 2,425 crore in the current first quarter, as against Rs 2,218 crore in the previous corresponding period, a company statement said on Tuesday.
The company said that the fall in net profit in the first quarter was due to higher depreciation and interest cost.
EBITDA (earnings before interest, tax, depreciation and amortisation), a parameter used to assess a company’s operating performance, increased 14.8 per cent at Rs 314 crore during the first quarter, as against Rs 274 crore in the previous similar period.
PB Fintech
PB Fintech, the parent company of Policybazaar and Paisabazaar, is on track for a profit after tax breakeven in 2023-24.
The company has narrowed its net loss from Rs 204 crore in Q1FY23 to Rs 12 crore in Q1FY24.
Policybazaar and Paisabazaar, which are jointly classified as core online businesses by the company, posted a revenue of Rs 516 crore in Q1FY24 compared to Rs 371 crore in Q1FY23. “Q4 is traditionally the strongest quarter, and for the first time ever, our core online business revenue for Q1FY24 is higher than Q4FY23, beating traditional seasonality,” the company said in a statement.
