Third-quarter results: MRF, Ircon, MRPL, Bajaj Electricals

Our Bureaus February 7 | Updated on February 07, 2019 Published on February 07, 2019

Smooth sail for SAIL

Steel Authority of India Ltd (SAIL) has reported a ₹616.3-crore net profit for Q3 FY19. This is over 14 times the ₹43.2-crore net profit reported in Q3 FY18. Its turnover improved by 3 per cent to ₹15,660 crore (₹15,190 crore).

MRPL posts loss

Mangalore Refinery and Petrochemicals Ltd (MRPL) registered a loss of ₹267.7 crore in Q3 FY19, against a net profit of ₹969.9 crore in Q3 FY18. Its total income from operations stood at ₹20,249.62 crore during Q3 FY19 (₹17,419.8 crore).

The company registered a net profit of ₹13.1 crore during the first nine months of FY19 (₹1682.04 crore).

MRF net profit skids

Tyremaker MRF has reported an 18 per cent fall in its net profit at ₹279 crore for Q3 FY18, against ₹341 crore in the same period last year due to higher operating costs. Its revenue grew 6 per cent to ₹4,034 crore (₹3,799 crore). But this modest growth in sales was insufficient for it to cover the higher material costs of ₹2,712 crore (₹2,196 crore). Its profit before exceptional items and tax thus stood at ₹409 crore (₹513 crore).

For the nine-month period ended December 31, 2018, MRF’s net profit rose 7.5 per cent to ₹803 crore (₹747 crore).

Bajaj Electricals net zooms

Bajaj Electricals Ltd has posted a 73.5 per cent hike in its Q3 net profit to ₹63.92 crore (₹36.83 crore). The company’s income from operations registered a growth of 88.8 per cent to ₹2,161.83 crore (₹1,145.13 crore).

“The current quarter has been extremely good for the company, with both the business segments, consumer products (CP) and EPC, registering a robust performance,” said Shekhar Bajaj, CMD of Bajaj Electricals. “This is the first time in the history of Bajaj Electricals that our quarterly profits before tax has crossed ₹100 crore,” said Anuj Poddar, Executive Director, Bajaj Electricals.

Eros profit falls 3%

Eros International Media saw its consolidated net profit decline 3.12 per cent to ₹63.01 crore in the quarter ended December 2018, against ₹65.04 crore in the previous year period. Sales were up 52.93 per cent at ₹295.93 crore (₹193.51 crore).

Expenses for the quarter more than doubled to ₹255 crore (₹122 crore), primarily driven by higher film rights and amortisation costs. The expenses were high despite lower finance costs and employee benefits expense in the quarter compared to the same quarter last year.

UFO Moviez profit up 22%

UFO Moviez India has posted a 21.66-per cent rise in net profit at ₹146 million for the third quarter ended December 31, 2018, against ₹120 million in the year-ago period. The digital cinema distribution network’s consolidated revenues rose 10.3 per cent to ₹1,547 million (₹1,402 million). EBITDA rose 10.7 per cent to ₹406 million (₹367 million).

HCC profit declines 69%

Infrastructure firm Hindustan Construction Company (HCC) on Thursday reported a decline of 69 per cent in standalone net profit to ₹9.9 crore in Q3 FY19, against ₹31.3 crore in the corresponding period last year. The company’s turnover fell from ₹1,231 crore to ₹1,102 crore.

“We have infused substantial liquidity and strengthened our working capital position despite tight credit conditions across the economy, and particularly within the infrastructure sector,” said Arjun Dhawan, Director & Group CEO.

Ircon net falls 8.3%

Ircon International on Thursday reported a 8.3 per cent decline in net profit for Q3 FY19 at ₹102.8 crore (₹112.2 crore). This listed subsidiary of the Railways has declared an interim dividend of ₹10.7 per share of ₹10 each.

For the nine months ended December 31, its net profit grew 103 per cent to ₹349 crore (₹172 crore).

Yum! Brands upbeat

Yum! Brands Inc, owner of fast food chains KFC, Pizza Hut and Taco Bell, has reported a strong double-digit sales growth in volumes in India in the fourth quarter ended December and in calendar 2018.

The company said KFC India posted a 20 per cent system sales growth in 2018 and recorded a 17 per cent system sales growth in the fourth quarter ended December 3. System sales is a metric similar to same-store sales, which is measured through sales at outlets, both company-owned and franchise-run, for at least a year.

Samir Menon, MD, KFC India, said the December quarter marked the ninth consecutive quarter of positive system sales growth, with a 17 per cent growth for India and area countries.

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Published on February 07, 2019
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