Q4 results 2022: IIFCL, BEML, GAIL India and Ruchi Soya declare March quarter results; here are key highlights!

Q4 Results 2022: Many listed companies declared their March quarter results. Among them were India Infrastructure Finance Company Ltd (IIFCL), BEML, GAIL India and Ruchi Soya which posted their fourth quarter results. Here are key highlights of the quarterly earnings.  

IIFCL Q4 results 2022: profit surges 80% to Rs 514 cr in FY22

India Infrastructure Finance Company Ltd (IIFCL) on Friday reported an 80 per cent jump in standalone net profit to Rs 514 crore for the fiscal ended March 2022, helped by the increase in lending and reduction of bad loans.

The state-owned infrastructure finance company had earned a net profit of Rs 285 crore in the previous fiscal.

The company recorded a 10-fold rise in profit compared to Rs 51 crore recorded in 2019-20, thereby, continuing its turnaround performance, IIFCL managing director PR Jaishankar said while announcing annual financial numbers.

The company continued to add value as its networth increased to Rs 11,737 crore in 2021-22 from Rs 10,654 crore in the preceding fiscal.

During the year, he said, the company posted record performance with the highest ever sanctions and disbursements at Rs 25,120 crore and Rs 10,445 crore, respectively.

In terms of percentage growth, he said, loan sanctions increased by 20 per cent and disbursement by 10 per cent.

Going forward, he said, the company has scope to double sanctions and disbursement, given the government's focus on infrastructure development.

However, Jaishankar said, the prevailing market conditions and other external factors would guide the business growth.

With regard to asset quality, IIFCL has brought down gross non-performing assets (NPAs) to 9.22 per cent from 13.9 per cent a year ago.

The net NPA of the company too declined to 3.65 per cent from 5.39 per cent in the year-ago period.

The provision coverage ratio (PCR) in the last fiscal increased to 62.75 per cent from 61.24 per cent, thereby, improving the robustness of the company's balance sheet, Jaishankar said.

The company's stance of aggressively pursuing recoveries has yielded the highest ever recovery of around Rs 780 crore during FY 2021-22 compared to Rs 618 crore during the previous fiscal, he added.

Taking its developmental role further, IIFCL for the first time, ventured into investment in infrastructure bonds, being issued by project companies during the year, he said, adding it has invested Rs 975 crore in project bonds, which includes Rs 325 crore in bonds issued by a renewable energy InvIT.

"IIFCL's investment in bonds would not only lead to further improvement in the company's asset quality but would also boost the availability of longer-tenor debt finance for infrastructure projects," he said.

IIFCL is also eyeing lending opportunities to Infrastructure Investment Trusts (InvITs) this year and aims to further strengthen our balance sheet and improve its asset quality, he added.

Till March 2022, Jaishankar said, IIFCL has participated in 650 projects with a total outlay of over Rs 11.30 lakh crore, providing financial assistance to over 28 per cent of PPP projects in the country. PTI DP

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BEML Q4 results 2022: profit drops to Rs 133 cr

State-owned BEML on Friday posted 15.4 per cent decline in consolidated net profit at Rs 133.42 crore for the quarter ended March 31, 2022.

The company had logged a profit of Rs 157.81 crore in the year-ago period, BEML said in a filing to BSE.

Revenue from operations during the quarter under review dropped to Rs 1,683.58 crore from Rs 1,805.74 crore in the year-ago period, the filing said.

BEML Ltd, formerly Bharat Earth Movers Ltd, was established in May 1964 as a public sector undertaking for manufacture of rail coaches and spare parts and mining equipment at its Bangalore Complex.

The company has partially disinvested, and presently the Centre owns 54 per cent of total equity, rest 46 per cent is held by public, financial institutions, foreign institutional investors, banks and employees.

BEML serves the country's core sectors like defence, rail, power, mining and infrastructure.

BEML shares ended at Rs 1302 on the BSE, up 3.4 per cent from the Thursday closing price.

GAIL Q4 results 2022: net jumps 40% on higher gas margins

State gas utility GAIL India Ltd on Friday reported a 40 per cent jump in its March quarter net profit as margins on natural gas sales rose.

Net profit in January-March at Rs 2,683.11 crore was higher than Rs 1,907.67 crore in the same period a year back, according to the company's regulatory filing.

Revenue from operations rose to Rs 26,968.21 crore from Rs 15,549.07 crore in January-March 2021.

For the full fiscal ending March 31, the company reported its highest ever net profit of Rs 10,363.97 crore, against Rs 4,890.18 crore in the previous year.

Pre-tax earnings from natural gas marketing jumped to Rs 1,725.93 crore in the fourth quarter of 2021-22, up from Rs 280.89 crore a year back. PTI ANZ ANZ

GAIL shares ended at Rs on the BSE, up per cent from the Thursday closing price.

Ruchi Soya Q4 results 2022: profit declines 25 pc to Rs 234.33 cr; income up 37% at Rs 6,676.19 cr

Edible oil major Ruchi Soya Industries Ltd on Friday reported a 25 per cent decline in its standalone net profit to Rs 234.33 crore for the March 2022 quarter, mainly due to higher tax expenses.
Its net profit stood at Rs 314.33 crore in the year-ago period.

The company's total income rose to Rs 6,676.19 crore in the fourth quarter from Rs 4,859.5 crore in the corresponding period of the preceding fiscal.

Net profit increased to Rs 806.3 crore in 2021-22 from Rs 680.77 crore a year ago.

Total income surged to Rs 24,284.38 crore during the last fiscal from Rs 16,382.97 crore in 2020-21.

Its tax expenses stood at about Rs 61 crore in the quarter. The firm had received a tax credit of Rs 166 crore in the year-ago period.

The company also announced a dividend of Rs 5 per share for shareholders.

Ruchi Soya was acquired by Baba Ramdev led-Patanjali group in 2019 for Rs 4,350 crore through an insolvency process.

Recently, Patanjali Ayurved announced the sale of its food retail business to group firm Ruchi Soya Industries Ltd for Rs 690 crore as part of its strategy to focus on non-food, traditional medicine and wellness business.

Ruchi Soya Industries Ltd has recently raised Rs 4,300 crore through a follow-on public offer (FPO).

The promoters' stake reduced to 80.82 per cent, and the public shareholding stood at 19.18 per cent. The company has utilised the proceeds of the FPO to repay 100 per cent of its bank and long term borrowings.

Ruchi Soya sells its products under brands like Ruchi Gold, Mahakosh, Sunrich, Nutrela, Ruchi Star and Ruchi Sunlight. It has one of the largest oil palm plantations companies in India with over 56,000 hectares under oil palm cultivation, engaging with more than 39,000 farmers across nine states in India.

The company is also engaged in renewable wind energy business out of which 19 per cent is used for captive consumption. 

Ruchi Soya shares ended at Rs 143.20 on the BSE, down 5.3 per cent from the Thursday closing price.

BGR Energy Systems Q4 results 2022: loss widens to Rs 72 cr in March quarter

BGR Energy Systems loss widened to Rs 72.37 crore in the March quarter mainly due to lower revenues.

The consolidated net loss of the company stood at Rs 64.08 crore in the year-ago period, BGR Energy Systems said in a regulatory filing.

Total income in the March quarter declined to Rs 208.21 crore from Rs 382.82 crore in the same period a year ago.

The consolidated net loss in the fiscal year 2021-22 narrowed to Rs 185.97 crore from Rs 368.31 crore loss in 2020-21.

Total income in the fiscal stood at Rs 1,229.34 crore as against Rs 1,146.84 crore in 2020-21. 

BGR Energy Systems shares ended at Rs 70 on the BSE, up 1.5 per cent from the Thursday closing price.

With inputs from PTI