Adani Group’s cement manufacturer, ACC, has witnessed a remarkable performance in the fourth quarter of FY24. The company’s net profit surged by an impressive 216% to reach 748.54 crore, marking a significant increase from the 236.57 crore recorded in the corresponding period of the previous year. Additionally, the company’s revenue from operations for Q4FY24 has witnessed a healthy growth of 12.67% to 5,398.11 crore, compared to 4,790.77 crore year-on-year (YoY).
Axis Bank, LTIMindtree, Kotak Mahindra Bank, Nestle India, IndusInd Bank, Zee Entertainment, Delhivery, AU Small Finance Bank, Dalmia Bharat, RailTel, V-Guard Industries, PVR INOX, STL, Motherson Sumi, and Motilal Oswal AMC released their quarterly earnings reports this week. Industry news includes updates on the Lodha Group, CPPIB’s stake in Delhivery, and the upcoming launch of ad-free movies by PVR INOX.
Reliance Industries Limited (RIL) announced its Q4FY24 earnings, reporting a consolidated net profit of 18,951 crore. This represents a decline of nearly 2% compared to 19,299 crore in the same quarter last year. Analysts had predicted it to be 19,726 crore. The drop in net profit has been primarily attributed to reduced margins in the petrochemicals sector and higher tax payments. Despite these challenges, RIL’s retail and telecom sectors saw consistent growth and contributed to their overall revenue. The company also declared a dividend of 10 per share for FY24, in addition to 9 per share already declared earlier in the fiscal year.
