Q3 Results 2023: Jubilant Foodworks, Ashok Leyland, Tata Chemicals, Mahindra Logistics announce quarterly earnings - HIGHLIGHTS

Q3 Results 2023: Several listed companies announced their December quarter results on Wednesday. Among them were Mahindra Logistics, Ashok Leyland, Jubilant Foodworks and Tata Chemicals. Here are key takeaways from the earnings reported by these companies.  

Mahindra Logistics Q3 Results 2023: PAT remains flat at Rs 1 crore

Mahindra Logistics Ltd (MLL) on Wednesday said its profit after tax was flat at Rs 1 crore in the December quarter.

The company's Profit After Tax (PAT) was Rs 12 crore without the impact of its Rivigo acquisition, according to a statement.

In September last year, it had announced the acquisition of the B2B express business of Rivigo. The deal was completed in November 2022.

However, the revenue grew a 17 per cent at Rs 1,330 crore during the quarter under review from Rs 1,136 in the year-ago period, the company said.

FY22 figures have been restated post acquisition of Meru companies in the first quarter of FY23, it noted.

The company termed the third quarter as a "strong" quarter of consolidation and growth and added that supply chain services during the October-December period of FY23 grew by 18 per cent year-on-year led by 3PL Supply Chain services, which logged 24 growth year-on-year, the company said.

"In Q3 F23, we consolidated our performance across an integrated logistics portfolio. Growth was driven for services and solutions by automotive and manufacturing segments continued their growth trajectory, while the consumer and e-commerce businesses did witness a softer demand environment," Rampraveen Swaminathan, Managing Director and CEO at Mahindra Logistics Ltd, said.

Ashok Leyland Q3 Results 2023: profit rises to Rs 361 crore

Hinduja group flagship Ashok Leyand on Wednesday reported a multi-fold jump in its profit after tax at Rs 361 crore for the third quarter ended December, aided by robust sales.

The company had posted a profit after tax of Rs 6 crore in the October-December quarter of previous fiscal.

Revenues for the quarter stood at Rs 9,030 crore over Rs 5,535 crore in the year-ago period, the company said in a statement.

Ashok Leyland said its domestic Medium and Heavy Commercial Vehicle volume rose to 28,221 units, up 69 per cent, over the same period last year.

The company's domestic LCV volumes for the third quarter rose to 16,405 units, up 15 per cent from 14,233 units a year ago, it added.

"We have been able to achieve growth in market share on a pan India basis together with significant improvement in net profits. Our team continues to pursue better realisations even as we expand our market share. This, along with our continued focus on optimising input costs, has helped us achieve better financial performance," Ashok Leyland Executive Chairman Dheeraj Hinduja said in a statement.

The company remains confident and optimistic about the future as macroeconomic factors continue to be favourable, he added.

"With our robust product portfolio, we are intensifying our global market expansion strategy," Hinduja said.

Jubilant Foodworks Q3 Results 2023: profit down 40% to Rs 80 crore; revenue rises 10% to Rs 1,332 crore

Jubilant Foodworks Ltd (JFL), which operates fast-food chains Domino's Pizza and Dunkin' Donuts, on Wednesday reported a decline of 39.66 per cent in its consolidated net profit at Rs 80.36 crore for the third quarter ended December 31, 2022.

The company had posted a consolidated net profit of Rs 133.19 crore in the October-December quarter of the previous fiscal, Jubilant Foodworks Ltd (JFL) said in a regulatory filing.

Its revenue from operations during the quarter was up 10 per cent to Rs 1,331.81 crore as against Rs 1,210.77 crore in the year-ago period.

According to JFL, "high inflation continues to keep margin under pressure".

"The increase in revenue was primarily driven by growth in orders for Domino's. The Domino's Like-for-Like growth came in at 0.3 per cent. The Delivery channel registered 9.9 per cent growth led by orders partially offset by a decline in the ticket. The Dine-in and Takeaway channels combined registered 9.8 per cent growth driven by an increase in ticket and orders," said JFL's earning statement.

JFL's total expenses were at Rs 1,229.79 crore, up 18.22 per cent in Q3 FY23.

During the quarter, JFL opened 60 new restaurants for Domino's Pizza, adding 16 cities to its network.

It was operating a total of 1,760 restaurants as of December 31, 2022 across 387 cities.

The company is also sunsetting two of its QSR businesses -- ChefBoss and Ekdum!

During the quarter, in Sri Lanka, JFL registered system sales growth of 24.9 per cent and opened 7 new stores, taking the network strength to 47 stores, while in Bangladesh, system sales grew by 44.7 per cent, taking the store count to 13.

JFL is the exclusive master franchise to develop and operate the Domino's Pizza brand in India, Sri Lanka, Bangladesh and Nepal.

It also has the franchise rights of American multinational chain of fried chicken fast food restaurants 'Popeyes' for the Indian market. It opened 4 new stores, taking the network tally to 12 stores in Bengaluru.

JFL Chairman Shyam S Bhartia and Co-Chairman Hari S Bhartia said: "In a challenging environment marked by historic high inflation and consequential impact on demand, our performance was impacted. The strength of our brands, continued focus on delivering high value, and an array of planned, strategic interventions will help us navigate the current situation and reorient the business to robust, profitable growth."

Shares of Jubilant FoodWorks Ltd on Wednesday settled at Rs 456.60 on BSE, down 6.26 per cent from the previous close.

Tata Chemicals Q3 Results 2023: consolidated net profit rise 21.42% at Rs 425 crore

Tata Chemicals on Wednesday reported a 21.42 per cent growth in consolidated net profit during the December quarter at Rs 425 crore.

The company's net profit stood at Rs 350 crore during the corresponding period of the previous fiscal, it said in a regulatory filing.

Revenue from operations of the company grew by 32.05 per cent at Rs 4,148 crore during the quarter under review compared to Rs 3,141 crore in the same period last year.

"The global demand-supply situation continues to be balanced and an improving demand bias, driven by reopening and stabilisation of economic activity, including newer applications like solar glass, resulted in stable realisations.

"Our digital and sustainability transformation agenda continues in partnership with our customers and other stakeholders," Tata Chemicals Managing Director and CEO R Mukundan said.

Shares of the company on Wednesday closed 1.62 per cent down at Rs 957.35 apiece on the BSE.