FMCG major Nestle India on Thursday reported a 27 per cent increase in net profit at ₹934 crore for the fourth quarter ended March 31 on account of a strong growth momentum across its product portfolio.
The company had reported a net profit of ₹737 crore in the January-March quarter of 2022-23 fiscal.
Revenue from operations rose to ₹5,267 crore for the period under review from ₹4,830 crore in the same quarter of 2022-23.
TechM profit plunges
IT services company Tech Mahindra on Thursday reported a 41 per cent fall in its consolidated net profit for the March quarter to ₹661 crore amid weakness in the communications vertical, even as its CEO outlined an ambitious three-year roadmap to accelerate revenue growth and lift margins.
The top brass acknowledged that the Q4 results marked a “low point” in the company’s growth trajectory but exuded confidence that year-on-year performance improvement will become visible starting the first quarter.
Vedanta net falls
Vedanta Ltd on Thursday reported a 27.2 per cent decline in consolidated net profit to ₹1,369 crore for the March quarter on account of a one-time impairment of its Tuticorin asset. The company had posted a consolidated net profit of ₹1,881 crore in the year-ago period. The consolidated income of the company dropped to ₹36,093 crore against ₹38,635 crore a year ago.
IndusInd profit up 15%
IndusInd Bank’s consolidated net profit grew 15 per cent to ₹2,349.15 crore in the March quarter, driven by core income growth. Net profit for the entire FY24 increased 21 per cent to ₹8,977 crore from ₹7,443 crore. Core net interest income for the quarter grew 15 per cent to ₹5,376 crore.
Bajaj Fin net up 21%
Bajaj Finance has reported a 21 per cent rise in consolidated net profit at ₹3,825 crore for the March quarter. The company had registered a net profit of ₹3,158 crore a year ago.
Total income on a consolidated basis rose to ₹14,932 crore against ₹11,368 crore in the year-ago period.
ACC net jumps 4-fold
Cement maker ACC’s profit after tax increased four-fold to ₹945 crore in the March quarter from ₹236 crore in the year-ago period.
