Q4 Results 2022: Ipca Laboratories, Jyothy Labs, Bank of India, Pitti Engineering announce March quarter results-key highlights here!

Q4 Results 2022: Listed compaies including Ipca Laboratories, Jyothy Labs, Bank of India (BoI) and Pitti Engineering annouced their March quarter results on Tuesday. Here are key highlights of the results.

Ipca Laboratories Q4 results 2022: net profit declines 19% at Rs 130 crore

Pharmaceuticals firm Ipca Laboratories Ltd on Tuesday reported a 19 per cent decline in consolidated net profit after tax at Rs 130.23 crore in the fourth quarter ended March 2022, impacted by higher expenses.

The company had posted a consolidated net profit after tax of Rs 161.34 crore in the same quarter previous fiscal, Ipca Laboratories said in a regulatory filing.

Consolidated net total income during the quarter under review stood at Rs 1,303.64 crore as against Rs 1,134.58 crore in the year-ago period, a growth of 15 per cent, it added.

Total expenses in the March quarter stood at Rs 1,134.09 crore as compared to Rs 939.95 crore in the previous fiscal.

Ipca Laboratories said formulations segment clocked a total revenue of Rs 898.29 crore. The same stood at Rs 771.61 crore in the corresponding period of FY21, while the Active Pharmaceutical Ingredients (APIs) business registered total revenue of Rs 257.84 crore, down 1 per cent from Rs 259.94 crore a year ago.

In the fiscal ended March 31, 2022, consolidated net profit after tax was down 22 per cent at Rs 884.08 crore in comparison with Rs 1,140.01 crore in the preceding fiscal, the company said.

Consolidated net total income for FY22 stood at Rs 5,896.36 crore. It was at Rs 5,482.83 crore in FY21, a growth of 8 per cent, it added. 

Ipca Laboratories shares today ended at Rs 952.95 on the BSE and were up 2.5 per cent from the Monday closing price.

Jyothy Labs results Q4 2022: net profit rises 35.4% to Rs 36.9 cr

Homegrown FMCG firm Jyothy Labs Ltd on Tuesday reported a 35.41 per cent increase in its consolidated net profit to Rs 36.94 crore for the fourth quarter ended March 2022.

It had posted a net profit of Rs 27.28 crore in the January-March quarter last fiscal, Jyothy Labs said in a regulatory filing.

Its revenue from operations rose 10.42 per cent to Rs 546.71 crore during the period under review from Rs 495.11 crore in the year-ago period.

"We have delivered steady growth in spite of challenging macro environment. The double-digit revenue growth for the last few quarters has been sustained by our relentless focus on execution. We are winning market shares and building scale in our operations," Jyothy Labs Managing Director MR Jyothy said.

Its total expenses surged 14.65 per cent to Rs 507.73 crore in Q4 FY 2021-22 against Rs 442.84 crore a year ago.

"The quarter was characterised by a slowing consumption environment impacted by high inflationary pressure on the households," said Jyothy Labs in its earning statement.
The company continues to deliver double-digit revenue growth.

"We have strengthened market share and will continue to grow the same backed by distribution, digital expansion and product innovation initiatives, which have resulted in double-digit growth for the quarter and on a 2-year CAGR basis," it added.

According to the company, which owns brands such as Margo, Henko, Pril and Ujala, higher raw material input costs have impacted the margins.

"We have taken calibrated pricing actions, which will continue to abate significant input cost inflation persisting across product categories," Jyothy Labs said.

For the fiscal ended March 2022, Jyothy Labs' consolidated net profit fell 16.53 per cent to Rs 159.13 crore. It had reported a net profit of Rs 190.65 crore in the previous fiscal.

In a separate filing, Jyothy Labs said its board has recommended a dividend of Rs 2.50 per equity share of Re 1 each for the financial year 2021-22.

Jyothi Labs shares today ended at Rs 154 on the BSE and were up 1.5 per cent from the Monday closing price.

Bank of India Q4 Results 2022: net profit jumps over two-fold to Rs 606 cr in March quarter

State-owned Bank of India on Tuesday reported over two-fold jump in its standalone net profit to Rs 606 crore for the March 2022 quarter.

The lender had posted a net profit of Rs 250 crore in the same quarter of the previous fiscal.

The total standalone income during the January-March quarter of 2021-22 rose to Rs 11,443.46 crore against Rs 11,155. 53 crore a year ago, Bank of India said in a regulatory filing.

On the asset front, the bank's gross non-performing assets (NPAs) fell to 9.98 per cent of the gross advances as of March 2022 compared to 13.77 per cent in the year-ago period.

The net NPAs or bad loans too came down to 2.34 per cent from 3.35 per cent a year ago.

For the full 2021-22, the bank's standalone net profit increased to Rs 3,404.70 crore from Rs 2,160.30 crore in 2020-21.

Shares of Bank of India were trading at Rs 47.50 apiece on BSE, up 2.26 per cent from the previous close. PTI KPM

Its sales were at Rs 2,196.49 crore in 2021-22. This is 15.05 per cent higher than Rs 1,909.12 crore in the year-ago period.

Bank of India shares today ended at Rs 47.15 on the BSE and were up 1.5 per cent from the Monday closing price.

Pitti Engineering Q4 results 2022: net dips slightly to Rs 20 cr in Q4, jumps 80 pc to Rs 52 cr in 2021-22

Pitti Engineering on Tuesday said its net profit dipped slightly to Rs 20.01 crore in the quarter ended March 31, 2022.

The net profit of the company stood at Rs 21.21 crore in the corresponding quarter a year ago, a company statement said.

Total revenue in the quarter rose to Rs 286.46 crore, from Rs 170.34 crore in the same period a year ago.

During the fiscal 2021-22, the net profit of the company rose by over 80 per cent to Rs 51.89 crore, compared to Rs 28.78 crore in 2020-21.

Total revenue in the fiscal rose to Rs 953.82 crore, from Rs 518.17 crore in 2020-21.

Akshay S Pitti, Vice Chairman & Managing Director and Interim CFO, said the firm has posted its best ever annual numbers across all performance parameters in FY2022.

He informed that the board has recommended a final dividend of 85 paise (17 per cent) per share, subject to shareholders' approval.

Total dividend pay-out for the year including interim dividends is Rs 2.025 (40.50 per cent) per share, which is 12.50 per cent of PAT (profit after tax or net profit).

During the year, the company added 40,400 machine hours and 6,400 MTs (metric tonnes) to its sheet metal capacity. This represents a growth of 11.14 per cent in machine shops and 16.16 per cent in sheet metal capacities.

The board has also approved Rs 197 crore Capex to enhance the sheet metal capacity to 72,000 MT and machine hours to 6,48,000.

In Q4, the firm developed various machine components for off-highway application and locomotive application and other machined parts for locomotives with an annual revenue potential of Rs 95 crore.

These developments will start contributing meaningful revenue from H2FY23 (first half of FY'23).

"Despite the headwinds induced by geopolitical situation, supply chain disruptions and inflationary commodity pressures our order book and forecast continues to remain buoyant at Rs 1,078 crore as on 1st April 2022," Pitti stated.

Pitti Engineering Limited (Formerly Pitti Laminations Limited), is the leading manufacturer of Electrical Steel Laminations, Sub-Assemblies for Motor Cores and Sub-Assemblies for Generators, Die-Cast Rotors and Machining of Metal Components. 

Pitti Engineering shares today ended at Rs 270.45 on the BSE and were up 1.7 per cent from the Monday closing price.

Inputs from PTI