Q4 Results 2022: Ceat, Blue Dart Express, Garware Technical Fibres declare March quarter result; here are key highlights

Q4 Results 2022: Several companies declared their March quarter results on Thursday. Among them were Ceat, Blue Dart Express and Garware Technical Fibres. Here are key highlights of the results. 

Ceat Q4 results 2022: net profit declines 84% to Rs 25 cr

Tyre major Ceat on Thursday reported an 84 per cent decline in its consolidated net profit to Rs 25 crore for the fourth quarter ended March 2022.

The company had posted a net profit of Rs 153 crore in the January-March quarter of 2020-21.

Revenue from operations, however, increased to Rs 2,592 crore for the fourth quarter compared to Rs 2,290 crore in the year-ago period, Ceat Ltd said in a regulatory filing.

For the year ended March 2022, the company reported a consolidated net profit of Rs 71 crore against Rs 432 crore in 2020-21.

Revenue from operations rose to Rs 9,363 crore compared to Rs 7,610 crore in FY21.

The company said its board has recommended a final dividend of Rs 3 per share (30 per cent) for the financial year 2022.

Ceat shares today ended at Rs 1090 on the BSE, down by 0.6 per cent from the last closing price on Wednesday.

See Zee Business Live TV Streaming Below:

Blue Dart Express Q4 results 2022: net profit up 52% at Rs 136.97 cr; revenue rises 20%

Logistics services provider Blue Dart Express Ltd on Thursday reported an increase of 52.18 per cent in its consolidated net profit at Rs 136.97 crore for the fourth quarter ended March 2022.

The company had posted a net profit of Rs 90 crore in the January-March quarter a year ago, Blue Dart Express said in a BSE filing.

Its revenue from operations rose 20.41 per cent to Rs 1,165.91 crore during the quarter under review as against Rs 968.28 crore in the corresponding quarter of the preceding fiscal.

Blue Dart's total expenses were at Rs 986.27 crore, up 15.53 per cent as against Rs 853.63 crore in the fourth quarter of FY21.

"The company delivered one of the strongest performances in the recent past. Topline grew by 21 per cent with a healthy mix of volume growth and realisation improvement despite challenging geopolitical scenario," said Blue Dart Express in its earnings statement.

For the fiscal year ended on March 31, 2022, Blue Dart Express has reported an almost four-fold jump in its consolidated net profit at Rs 382.21 crore. It had reported a net profit of Rs 101.81 crore in FY21.

Its revenue from operations for the entire fiscal increased 34.13 per cent to Rs 4,410.49 crore. It was Rs 3,288.13 crore in the financial year 2020-21.

Blue Dart Express managing director Balfour Manuel said: "Throughout the year, we have shown outstanding resilience, responsiveness and reliability for all our stakeholders, which is mirrored in our Q4 and year-end financial performance. Our focus on remaining customer-first, investing in our technology capabilities and thus, remaining agile in a VUCA environment, has helped the company improve its margins. FY22 has been a rewarding year."

About the outlook, he said Blue Dart plans on expanding ground and air express capacity which propel service quality to new heights.

"We continue to remain an insanely customer-centric organisation, and therefore, innovation to deliver excellence at every touchpoint continues to remain a major priority," Manuel added.

Meanwhile, in a separate filing, Blue Dart informed that its board in a meeting held on Wednesday recommended a dividend of Rs 35 per share on the equity capital for the year ended March 2022.

Shares of Blue Dart Express Ltd on Wednesday settled at Rs 6,827.90 on the BSE, down 1.04 per cent from the previous close.

Blue Dart Express shares today ended at Rs 6845 on the NSE, down by 1 per cent from the last closing price on Wednesday.

Garware Technical Fibres Q4 results 2022: company posts Rs 53 crore quarterly profit

Technical textiles manufacturer Garware Technical Fibres on Thursday reported a marginal increase of 1.3 per cent in its consolidated profit after tax at Rs 53.9 crore during the quarter ended March.

The company's consolidated Profit After Tax (PAT) stood at Rs 53.2 crore during the corresponding quarter of 2020-21, Garware Technical Fibres (formerly Garware-Wall Ropes) said in a statement.

Net sales rose by 6.2 per cent during the quarter under review to Rs 356.3 crore compared to Rs 335.4 crore in the fourth quarter of FY21.

For the full financial year 2021-22, the PAT increased by 4 per cent to Rs 164.8 crore. In the year-ago period, it stood at Rs 158.4 crore.

Net sales of the company increased by 15 per cent to Rs 1,189.4 crore in FY22. In the year-ago period, it was at Rs 1,034.6 crore.

"Stellar performance of international business continues at a double digit growth with strong performance in aquaculture cages and sports sectors in the fourth quarter.

"Both categories grew in strong double digits with all parts of the international business performing well despite the issues of global supply chain disruption - container availability and high ocean freight cost,"

Garware Technical Fibres CMD Vayu Garware said.

He said the cash conversion cycle which was taking longer in HI and the third quarter of FY22 due to global supply chain disruption has improved a little in the later part of the fourth quarter.

"However, we still have a lot of international deliveries in transit to our subsidiary in Chile against orders, which are eliminated for sales and profit in the consolidated financial statements," he said.

Despite a challenging environment in FY22 with high inflationary headwinds and global supply chain disruption, we have delivered about 9 per cent growth in operating EBITDA with the strength of products and solutions with high value propositions and strong brands, he noted.

"Whereas PAT growth has been lower at 4 per cent due to lower other income which was impacted by mark-to-market valuation of treasury investments," he added. 

Garware Technical Fibres shares today ended at Rs 2999 on the NSE, down by 1.2 per cent from the last closing price on Wednesday.

Inputs from PTI