Q3FY22 Earnings: Route Mobile, TCI, India Grid, Laurus Labs, BHEL announce December quarter results - details here!

Many listed companies today announced their Q3FY22 results on Thursday. Some of the companies which announced the December quarter results include Route Mobile Limited, Transport Corporation of India Limited (TCI), India Grid Trust (IndiGrid), Laurus Labs Limited and Bharat Heavy Electricals Limited (BHEL). 

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Laurus Labs Q3 net drops 43 pc to Rs 155 cr

Enterprise communication services firm Route Mobile on Thursday posted 28.33 per cent rise in consolidated profit at Rs 48.27 crore for the third quarter ended December 31, 2021.
The company had posted a profit after tax of Rs 37.62 crore in the same period a year ago.

Revenue from operations increased to Rs 567.49 crore during the quarter from Rs 393.52 crore in the year-ago period.

The company's board approved reappointment of Rajdipkumar Gupta for a period of five years with effect from May 1, 2022. His current term expires on April 30, 2022.

Route Mobile also announced an interim dividend of Rs 3 per share.

Besides, the board approved cancellation of an aggregate of 4,000 stock options granted earlier under the 'Route Mobile Ltd - Employee Stock Option Plan 2021'.

TCI reports 94 pc jump in standalone PAT to Rs 78 cr in Dec 2021 quarter 

Integrated supply chain and logistics form TCI on Thursday reported a 94 per cent year-on-year jump in standalone profit after tax (PAT) at Rs 78 crore for the December 2021 quarter.

The company had posted a standalone PAT of Rs 40 crore in the corresponding quarter of the last financial year, it said in a statement.

Revenue from operations during October-December 2021 rose 6.2 per cent y-o-y to Rs 759 crore, it said.

The firm also saw its Ebitda (earnings before interest, tax, depreciation and amortisation) during the December 2021 quarter has jumped 35.71 per cent to Rs 114 crore, from Rs 84 crore in the year-ago period.

TCI Managing Director Vineet Agarwal said, "The third quarter and nine months into the current financial year have been encouraging and in line with the positive business momentum in the country. All service offerings have performed well both on topline (revenue) and bottomline (profit) fronts."

The festive season added to the growth despite constraints in the automotive sector due to the ongoing semiconductor shortage, he said.

Agarwal added that multimodal logistics continued to gain strides, especially the company's coastal shipping business performing exceptionally.

He said, "TCI remains invested in the multi-modal business as it has a direct bearing on reduction in GHG (greenhouse gas) emissions leading to a positive ESG (environmental, social and governance) compliance for all our clients."

TCI continues to witness an upward swing in demand for third-party logistics (3PL) and cold supply chain solutions, driven by the technology-enabled platform for fulfilment and customer service, Agarwal said. 

IndiGrid's net profit remains almost flat at Rs 94 cr in December quarter

Infrastructure investment trust India Grid Trust (IndiGrid) consolidated net profit remained almost flat at Rs 94.38 crore in the December quarter compared to a year ago.

The company had reported a consolidated net profit of Rs 94.58 crore in the quarter ended on December 31, 2020, according to a BSE filing.

Its total income rose to Rs 580.96 crore in the quarter from Rs 439.03 crore in the same period a year ago.

The company stated that the board of the investment manager also approved a distribution per unit (DPU) of Rs 3.19 (a rise of three per cent year-on-year) for the December 2021 quarter to unitholders.

The record date for the distribution is February 2 and shall be paid as Rs 2.66 per unit in the form of interest, Rs 0.52 as capital repayment.

With this, IndiGrid has distributed Rs 55.34 per unit to its investors in the past 19 quarters since its listing, a total return of 114 per cent on the issue price. The total return is the sum of all distributions since the listing till Q3 FY22 and the change in price till January 24, 2021.

The net debt/ assets under management (AUM) as of December 31, 2021, stood at 56 per cent, significantly below the 70 per cent cap as per SEBI InvIT regulations, thereby providing ample headroom to fund future growth, it stated.

"Our performance this quarter has been on the expected lines, and we are on track to meet the FY22 distribution guidance of Rs 12.75 per unit.

"Going forward, we will continue to focus on generating superior and sustainable returns for our investors on the back of our AAA-rated balance sheet, resilient operations and accretive acquisitions," IndiGrid Chief Executive Officer Harsh Shah said.

He added that with the ongoing shift to green energy nationwide, most of the upcoming investment/ capital expenditure is expected to come in the green energy corridor, aligned directly with our investment mandate.

"While we remain focused on growth through accretive acquisitions, we look forward to capitalising on the lucrative bidding opportunity available in this space, aiming for selective and synergistic projects," Shah said. PTI
Laurus Labs Q3 net drops 43 pc to Rs 155 cr

Pharmaceuticals firm Laurus Labs on Thursday said its consolidated net profit declined by 43 per cent to Rs 154.97 crore for the third quarter ended December 31, 2021.

The company had posted a consolidated net profit of Rs 272.85 crore in the October-December period of previous fiscal.

Revenue from operations fell to Rs 1,028.76 crore in the third quarter as compared to Rs 1,288.42 crore in the same period of 2020-21, Laurus Labs said in a regulatory filing.
"Our Q3 results were impacted by lower sales of ARV APIs and formulations due to stocking at channel partners and we expect improvement from Q4," Laurus Labs founder and CEO Satyanarayana Chava said.

BHEL Q3 profit at Rs 27 cr
State-owned engineering firm BHEL on Thursday posted a consolidated net profit of Rs 27.02 crore for December quarter 2021-22, mainly on the back of higher revenues.

The company had reported a net loss of Rs 217.86 crore for the year-ago period, a BSE filing stated.

BHEL had also incurred a loss of Rs 46.58 crore in the previous September quarter, as per the filing.

Total income of the company rose to Rs 5,135.90 crore in December quarter, up from Rs 4,451.36 crore in the same period a year ago.