Q3 Results 2023: Tata Steel reports Rs 2,502 crore net loss; SJVN net up 22%, P&G profit dips

Q3 Results 2023: Several listed companies declared their December quarter results on Monday. Among them was Tata Steel reported net loss of Rs 2,501.95 crore for the December quarter. Meanwhile, Procter & Gamble net profit dips 2 per cent to Rs 207 crore. Kolte-Patil Developers posted Rs 26.89 crore net loss in December quarter while SJVN's net profit rises 22 per cent to Rs 287 crore.

Procter & Gamble Q2 Results 2023: net profit dips 2% to Rs 207 crore

Procter & Gamble Hygiene and Health Care on Monday said its net profit declined 2 per cent to Rs 207 crore for the October-December quarter on account of commodity cost inflation.

The company, which follows the July-June financial year, had posted a net profit of Rs 212 crore in the same period of last fiscal.

Revenue from operations rose to Rs 1,137 crore in the period under review as against Rs 1,092 crore in the year-ago period, Procter & Gamble said in a statement.

"Despite external headwinds and macro-economic environment, we delivered a resilient performance as this quarter recorded sequential progress across topline and bottom line," Procter & Gamble Hygiene and Health Care Managing Director LV Vaidyanathan said.

This has been possible behind the company's integrated growth strategies of a focused product portfolio, superiority, productivity, constructive disruption, and an agile and accountable organisation, it added.

The board of the company on Monday declared an interim dividend of Rs 80 on every share of Rs 10.

Tata Steel Q3 Results 2023: slips into red; posts Rs 2,501.95 crore loss in December quarter

Steel major Tata Steel on Monday reported a consolidated net loss of Rs 2,501.95 crore in the quarter ended on December 31, 2022, on account of higher expenses.

The company had posted a net profit of Rs 9,598.16 crore in the year-ago period, according to a regulatory filing.

Total income on a consolidated basis fell to Rs 57,354.16 crore in the October-December quarter from Rs 60,842.72 crore earlier. The company's expenses rose to Rs 57,172.02 crore in the quarter under review from Rs 48,666.02 crore in the year-ago period.

Tata Steel Group is among the top global steel companies with an annual capacity of 34 MT.

Kolte-Patil Developers Q3 Results 2023: posts Rs 26.89 crore net loss in December quarter

Realty firm Kolte-Patil Developers Ltd on Monday reported a consolidated net loss of Rs 26.89 crore in the quarter ended December 31, 2022 on higher expenses.

The company's net profit stood at Rs 5.37 crore in the year-ago period.

Total income rose to Rs 374.46 crore in the third quarter of this fiscal year from Rs 244.7 crore in the corresponding period of the previous year, the Pune-based developer said in a regulatory filing.

Net loss stood at Rs 14.45 crore in the April-December period of this fiscal year as against a net profit of Rs 52.57 crore a year ago.

Total income also fell to Rs 716.60 crore in the first nine months of this fiscal year from Rs 755.51 crore in the corresponding period of the previous year.

SJVN Q3 Results 2023: net profit rises 22% to Rs 287 crore

State-owned power producer SJVN on Monday posted a 22 per cent rise in consolidated net profit at Rs 287.42 crore in the December quarter, mainly due to higher revenues.

The consolidated net profit of the company was at Rs 235.46 crore in the quarter ended on December 31, 2021, according to a BSE filing.

Total income of the company rose to Rs 711.24 crore in the third quarter of the current fiscal from Rs 610.45 crore in the same period a year ago.

SJVN's board has approved an interim dividend of Rs 1.15 per equity share for 2022-23. The record date for the same is fixed on February 17.

In a statement, the company said it has recorded a Profit After Tax (PAT) of Rs 1,349.48 crore for April-December 2022 period, which is 37.98 per cent higher compared to the year-ago period.

SJVN CMD Nand Lal Sharma said that for the third quarter standalone PAT increased 25.06 per cent to Rs 290.98 crore compared to Rs 232.67 crore posted in the same period a year ago.

"These positive growth percentiles are a result of optimum utilisation of our operating units, relentless quest to excellence, adopting best financial practices and strategic focus on capacity addition in the portfolio of the company," he said.

SJVN's net worth has jumped to Rs 14,261.09 crore at the end of the December quarter.

In a major development, the Cabinet Committee on Economic Affairs has approved an investment of Rs 2,614 crore for the 382 MW Sunni Dam Hydro Electric Project in Himachal Pradesh, Sharma said.