ABBOT LAB: Abbott Q4: Net Profit Up 24% to Rs 287 Crore, Revenue Increases by 7%
The Abbot India reported 24% rise in the Net Profit to Rs.287 cr and Revenue up by 7% as Rs.1439 cr from Rs.1343 cr in the previous quarter. The Board has approved the Dividend of Rs.410 per Face Value of Rs.10 each share after the Result came.
Abbott India Ltd, a prominent pharmaceutical company, announced a notable 24 percent year-on-year (YoY) increase in net profit, reaching Rs 287 crore for the fourth quarter of the fiscal year 2023-24.
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In addition, the company disclosed a 7 percent rise in revenue, climbing to Rs 1,439 crore compared to Rs 1,343 crore in the corresponding period of the previous year, as stated by Abbott India on May 9.
Furthermore, the board of directors proposed a final dividend of Rs 410 per equity share of Rs 10 each for the fiscal year ending March 31, 2024, subject to shareholder approval.
Abbott India, a subsidiary of Abbott Laboratories, has established itself as a leader in pharmaceuticals, nutrition, devices, and diagnostics. With a portfolio boasting over 400 brands, the company offers a wide range of nutritional products catering to infants, children, adults, and individuals with special dietary requirements, alongside medical devices and diagnostic solutions.
BPCL: BPCL Surges 4% Despite Q4 Weakness; Citi Sticks with ‘Buy’ Rating on PSU
The BPCL announced Q4 results as 30% decline in the Net profit as Rs.4789.57 cr and Turnover of the company remains unchanged at Rs.1.32 Lakh cr. Net income reduced to 39% due to Rs.1800 cr investment in the Subsidiary companies. Pretax profit falling below 20% and it was below the Brokerage estimates. But BPCL announced 1:1 Bonus share in this quarter. Oil prices Fluctuations makes Decline in the profit and Lower refining margins affected.
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Despite Bharat Petroleum Corporation (BPCL) reporting weaker-than-expected earnings for the fourth quarter, its shares surged by 4 percent on May 10. The rise occurred as Citigroup (Citi) maintained a positive outlook on the stock, affirming its ‘buy’ rating despite the earnings disappointment.
The Maharatna public-sector undertaking (PSU) recorded a consolidated net profit of Rs 4,789.57 crore for the quarter, marking a 30 percent decrease compared to the previous year. Its turnover remained nearly unchanged year-on-year at Rs 1.32 lakh crore during the quarter under review.
While BPCL’s results were adversely impacted by lower refining margins, there was a quarter-on-quarter recovery in Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA). Additionally, the company’s board approved a bonus issue in the ratio of 1:1, granting investors an extra share for every share held.
Citi reiterated its ‘buy’ recommendation on BPCL with a target price of Rs 760, despite the company’s pre-tax profit falling 20 percent below the brokerage’s estimates and a 39 percent decline in net income due to a Rs 1,800 crore impairment of investments in a subsidiary.
Despite these setbacks, analysts noted that BPCL’s full-year FY24 earnings per share (EPS) remained robust at Rs 125 per share.
According to Morgan Stanley, Indian fuel refiners demonstrated strong quarterly earnings, signaling a structural shift towards higher profitability in FY24. Notably, investments in refinery infrastructure are beginning to yield positive results. BPCL, in particular, outperformed in margins, while Hindustan Petroleum Corporation Limited (HPCL) managed to increase its market share in fuel, as observed by the international brokerage.
BPCL highlighted its achievements during FY24, including an average ethanol blending percentage of 11.69 percent and the commissioning of 308 new petrol pumps and 323 compressed natural gas (CNG) stations. Looking ahead, G Krishnakumar, chairman and managing director of BPCL, outlined plans to expand refining capacity to 45 million tonnes per annum by FY29 and add 4,000 new fuel stations.
Despite cautious optimism for FY25, with expectations of crude oil prices remaining in the range of $83-87 per barrel, potential geopolitical tensions and supply chain disruptions remain concerns. Nonetheless, BPCL expressed confidence in its ability to navigate these uncertainties effectively.
Intellect Design Arena: Intellect Design Arena Stock Dives 14% Amid Weak Q4 Results
The Intellect Arena reported Q4 Decline profit as Rs.85 cr compared to Rs.91 cr in the past quarter. Company announced Rs.3.50 Dividend for Rs.5 Facevalue share. The Company recently built Emach AI software and it was attracted to 15 new customers, Financial institutions. Moreover, This AI software is going to Government related companies and talks going there.
On May 10, shares of Intellect Design Arena experienced a notable decline of over 14 percent, following the release of its weak earnings report for the quarter ended March 2024.
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The Chennai-based fintech company disclosed a reduced net profit of Rs 85 crore in Q4FY24 compared to Rs 91 crore in the corresponding quarter of the previous year. Notably, the net profit figure excluded the impact of a one-off exceptional item related to a MAT credit write-off of Rs 12.51 crore.
Intellect Design Arena’s total revenue for the quarter saw a 1 percent year-on-year decline, amounting to Rs 612 crore. Additionally, the company’s board proposed a final dividend of Rs 3.50 per share with a face value of Rs 5 for the fiscal year ended March 31, 2024.
The company highlighted the growth acceleration driven by its first principle-built technology suite, eMACH.ai, which attracted 16 new customers and saw adoption by 18 global financial institutions during Q4, as stated in a company statement.
Overall, Intellect Design Arena reported that 52 new customers have opted for its Digital stack, including 16 significant deals, while 54 global financial institutions are utilizing Intellect platforms and products.
Furthermore, the company expanded the utilization of eMACH.ai to include large corporates and governments through the launch of three new platforms in FY24: Intellect Corporate Procurement Exchange (iCPX), Intellect Government Procurement (iGPX), and Intellect Account Payable Exchange (iAPX).
Over the past year, Intellect Design Arena’s stock has delivered substantial returns of over 90 percent, outperforming the benchmark Nifty 50, which rose by 20 percent during the same period.
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