Q1 results: Adani Green profits up by nearly 95%, Nestle India posts slowest revenue growth in 8 years

Adani Green Energy CEO Amit Singh said in the statement, “Adani Green is well on track to achieve its 2030 capacity target of 50 GW, including at least 5 GW energy storage, in the form of pumped hydro, with sites already secured and clear visibility on evacuation.”

Canara Bank Q1 net profit up 10 pc to Rs 3,905 crore

State-owned Canara Bank posted a 10 per cent rise in its net profit to Rs 3,905 crore for the first quarter that ended June 30, on account of reduction in bad loans. The Bengaluru-based lender had earned a net profit of Rs 3,535 crore in the year-ago period.

During the quarter, the bank’s total income increased to Rs 34,020 crore, as against Rs 29,823 crore a year ago, Canara Bank said in a regulatory filing. Interest income grew to Rs 28,701 crore during the period under review, from Rs 25,004 crore in the corresponding quarter a year ago.

Nestle India misses Q1 estimates, posts slowest revenue growth in 8 years

Nestle India’s first-quarter profit and revenue were recorded below expectations as price hikes drove shoppers towards cheaper rivals, pushing the consumer giant to mark its slowest revenue growth in eight years. The Indian arm of the Swiss food giant Nestle reported a net profit of 7.47 billion rupees for the three-month period, missing analysts’ estimate of 8.16 billion rupees, as per LSEG data.

Tech Mahindra beats Q1 revenue view on demand recovery

Tech Mahindra reported its smallest revenue fall in four straight quarters, beating estimates, on demand recovery in its manufacturing and healthcare segments. Consolidated revenue in the first quarter fell 1.2% to 130.05 billion rupees ($1.55 billion). Analysts, on average, had expected revenue to fall 1.6% to 129.45 billion rupees, as per LSEG data.

Ashok Leyland Q1 net profit dips to Rs 509 crore; total income at Rs 10,754 crore

Hinduja group flagship Ashok Leyland reported a 6 per cent year-on-year fall in its consolidated net profit to Rs 509 crore in the June 2024 quarter. The company posted a net profit of Rs 544 crore in the April-June quarter of the previous fiscal.

Total income increased to Rs 10,754 crore in the first quarter against Rs 9,735 crore in the year-ago period, Ashok Leyland said in a regulatory filing.

Vodafone’s growth slows in Q1 on decline in Germany

Vodafone reported a 5.4% rise in service revenue in the first quarter, a slowdown on the previous three quarters, after its biggest market Germany went into reverse due to changes in cable TV regulation. The European and African mobile operator, however, said on Thursday that its performance was in line with guidance for the full year.

The company expects to report adjusted core earnings of around 11 billion euros ($11.92 billion) and adjusted free cash flow of at least 2.4 billion euros for the year to end-March 2025.

Mahindra Holidays posts higher Q1 profit on membership growth

Mahindra Holidays and Resorts India reported a 61% rise in its first-quarter pre-tax profit, helped by growth in memberships and steady room occupancies.

The company, which runs the ‘Club Mahindra’ brand of resorts, said its consolidated profit before tax rose to 140.4 million rupees ($1.7 million) in the June quarter from 87.1 million rupees a year earlier. Travel demand has rebounded strongly from the pandemic lows, benefiting companies from airlines to hotel operators.

Hindustan Media Ventures Q1 profit tanks over 91% to Rs 0.52 crore

Hindustan Media Ventures Ltd (HMVL) reported a 91.82 per cent decline in its profit after tax of Rs 0.52 crore for the first quarter of 2024-25.

The company had posted a profit after tax of Rs 6.36 crore in the April-June period a year ago, according to a regulatory filing by HMVL, the publisher of Hindi daily Hindustan. Its revenue from operations was down 3.78 per cent to Rs 162.18 crore in the April-June quarter compared to Rs 168.56 crore in the corresponding period a year ago.

Nissan slashes full-year outlook after Q1 profit slumps 99%

Japan’s Nissan Motor slashed its annual outlook after posting a 99% decline in first-quarter operating profit, falling short of analyst estimates and sending its shares sharply lower.

Operating profit for the April-June period totalled 995 million yen ($6.51 million), compared with 128.6 billion yen in the same period a year earlier and an average estimate of 164.4 billion yen in a poll of five analysts by LSEG.

–With inputs from agencies