Q4 Results 2022: Indiabulls Real Estate, Oil India, Arvind Fashions and Realty firm Puravankara declare March quarter results - key highlights

Q4 Results 2022: Listed companies including Indiabulls Real Estate, Oil India and Realty firm Puravankara declared their March quarter results. Here are key highlights of the quarterly earnings.  

Indiabulls Real Estate results 2022: posts Rs 60 crore net loss in January-March quarter of FY22

Indiabulls Real Estate Ltd (IBREL) on Friday reported a consolidated net loss of Rs 59.80 crore for the quarter ended March, 2022.

The company had posted a net profit of Rs 94.41 crore in the year-ago period.

Total income fell to Rs 272.49 crore in the fourth quarter of FY22 from Rs 759.50 crore in the corresponding period of the preceding fiscal.

For the entire 2021-22 fiscal, the company's net loss stood at Rs 136.73 crore as against Rs 4.30 crore in the previous year.

Total income fell to Rs 1,541.36 crore in the 2021-22 fiscal from Rs 1662.05 crore in FY21. 

Arvind Fashions Q4 results 2022: company  reports net profit at Rs 22.38 crore

Arvind Fashions Ltd on Friday reported a consolidated net profit of Rs 22.38 crore for the fourth quarter ended March 2022.

The company had posted a consolidated net loss after tax of Rs 99.45 crore in the same quarter previous fiscal, Arvind Fashions Ltd said in a regulatory filing.

Consolidated revenue from operations during the quarter under review stood at Rs 916.7 crore against Rs 684.58 crore in the year-ago period, it added.

This was led by a strong bounce back in demand and strong footfalls, the company said, adding it was further aided by growth in other channels, including online and department stores.

Total expenses in the fourth quarter were higher at Rs 927.63 crore compared to Rs 719.65 crore a year ago, the company said.

For the fiscal ended March 31, 2022, the company's consolidated net loss narrowed to Rs 236.7 crore from Rs 595.99 crore in the preceding fiscal.

In FY22, consolidated revenue from operations stood at Rs 3,056.04 crore against Rs 1,911.91 crore in FY21, the company said.

The online channel achieved the significant milestone of Rs 1,000 crore in revenue in FY22, it added.

Arvind Fashions MD and CEO Shailesh Chaturvedi said, "FY22 has indeed been an important year for the company having achieved various milestones with refreshed brand identities, sharp retail execution, significant expansion of our store network backed by Omni-capabilities, leadership in the online channel with Rs 1,000 crore revenues and a stronger balance sheet."

Performance in the second half of FY22 reflects great affinity of the company's brands amongst the consumers and resilience of the business model to overcome the initial impact of the COVID-19 third wave in January 2022, he added.

"This momentum sets us up strongly for FY23 to capture the large opportunities in branded and apparel industry, thereby delivering accelerated profitable growth going ahead," Chaturvedi said. 

Oil India reports high-ever profit on oil price surge

State-owned Oil India Ltd on Friday reported its highest-ever quarterly net profit in the three months to March as it got nearly USD 100 per barrel price for oil produced and sold.

Net profit at Rs 1,630.01 crore in January-March was almost double of Rs 847.56 crore profit in the same period of last year, OIL Director (Finance) Harish Madhav told reporters here.

This is because the firm got USD 98.08 for every barrel of crude oil produced and sold in the fourth quarter of fiscal 2022, as compared to USD 59.80 a barrel realisation a year back.

For the full 2021-22 fiscal (April 2021 to March 2022) as well, the firm reported its highest-ever profit of Rs 3,887.31 crore, or Rs 35.85 per share, up from Rs 1,741.59 crore, or Rs 16.06 a share, in the previous financial year.

Turnover rose 27 per cent in Q4 to Rs 4,972.91 crore and by 55 per cent in FY22 to Rs 16,427.65 crore.

"This is the highest-ever quarterly and annual net profit as well as highest-ever quarterly and annual turnover," he said.

The nation's second-biggest state oil and gas explorer got USD 2.35 per million British thermal unit gas price in 2021-22, as against USD 2.09 per mmBtu in 2020-21.

He said the company achieved the highest-ever natural gas production of 3.04 billion cubic metres in 2021-22, an increase of 15.25 per cent over last year. Natural gas production in Q4 of 2021-22 was also higher by 13.1 per cent over the corresponding period last year.

Crude oil production during 2021-22 increased by 1.6 per cent to 3.01 million tonnes. In Q4, oil output increased by 4.2 per cent year-on-year.

The firm made two new hydrocarbon discoveries in the year in the Tinsukia district of Assam.

The board of the company recommended a final dividend of Rs 5 per share for FY22. It had earlier paid an interim dividend of Rs 9.25 a share for the same fiscal. The total dividend for the year will be Rs 14.25 per share.

OIL Chairman and Managing Director S C Mishra said the firm has become the first company in the country to commission a pilot plant of 100 KW capacity for the production of green hydrogen in Assam.

The plant is based on Anion Exchange Membrane (AEM) technology for the production of green hydrogen of 99.99 per cent purity.

OIL has also entered into collaboration with start-ups for the development of green hydrogen utilities. 

Puravankara posts Rs 20 cr loss in Q4; reports Rs 147 cr profit in FY22

Realty firm Puravankara Ltd on Friday reported a consolidated net loss of Rs 20.06 crore for the quarter ended March on lower income.

The company had posted a net profit of Rs 9.06 crore in the year-ago period.

Total income also fell to Rs 320.12 crore in the period under review from Rs 340.44 crore in the corresponding period of the previous year.

For 2021-22, the company's net profit stood at Rs 147.06 crore. It had a net loss of Rs 3.94 crore in the preceding fiscal.

Total income increased to Rs 1,381.65 crore in FY22. The same stood at Rs 1,056.57 crore a year ago.

"Despite the ongoing challenges, the real estate sector has bounced back strongly on the back of India's economic revival. The residential market has witnessed a sharp recovery in sales momentum and the trend has continued even in Q4 of FY22," Ashish R Puravankara, Managing Director of Puravankara Ltd, said.

"There has been a good amount of pent-up demand generated over the past 2 years, which is now unlocking. This is supported by lower interest rates, rising income, affordable prices, and renewed buyer confidence," he added.

Ashish highlighted that the company achieved its best-ever annual sales of Rs 2,407 crore during the last fiscal year.

"...With the new launches planned in the coming quarters, we are in a good position to leverage the growth momentum. We are confident and positive as we work towards achieving sustained growth going forward," he said.

Puravankara CEO Abhishek Kapoor said the company posted net loss in the fourth quarter of last fiscal due to lower deliveries.