The company reported a standalone net profit of Rs 987 crore for the quarter ended December, beating Street estimates by a wide margin.
The company reported revenue growth of 12 percent at Rs 766.1 crore in Q3FY22 as against Rs 684.2 crore in Q3FY21.
The conglomerate posted a quarterly net profit at Rs 4,056.73 crore, a 15 percent YoY increase over the Rs 3,526.55 crore reported in Q3FY21, and an over 9 percent QoQ increase over Rs 3,713.76 crore in the previous quarter.
The company recorded profit at Rs 218.5 crore in Q3FY22 against a loss of Rs 288.7 crore in Q3FY21, revenue fell to Rs 5,360.9 crore from Rs 6,894.8 crore YoY.
Net profit grew 14.8% at Rs 3,288 crore against Rs 2,863 crore (QoQ). Other income at Rs 651.8 crore against Rs 774 crore (QoQ). Tax expenses at Rs 1,020.4 crore against Rs 819.4 crore (QoQ). Revenue rose 19.8% at Rs 25,769.8 crore against Rs 21,511 crore (QoQ).
The company reported higher consolidated profit at Rs 43.17 crore in Q3FY22 against Rs 42.08 crore in Q2FY22, revenue jumped to Rs 190.03 crore from Rs 178.47 crore QoQ.
The company is scheduled to report its Q3FY22 earnings today. Revenues are likely to be higher due to higher realisations on a year on year basis. Operating profit is likely to decline by 21 percent at Rs 863 crore, while margins are likely to contract to 25.48 percent.
The Supreme Court on Thursday refused to pass any interim orders restraining banks from classifying Future Retail as a non-performing asset.
Serum Institute of India sold 3.58 lakh equity shares in the company at Rs 278.15 per share on the NSE, the bulk deals data showed.
The company partnered with Dialog to launch the first mobile cloud gaming platform in Sri Lanka.
FII & DII DATA (3 February 2022)
FII Net SELL – 1597.54 cr
DII Net SELL – 370.58 cr