Bajaj Finserv (BFS) Q4 result
Bajaj Finserv reported a 77 percent year-on-year (YoY) decline in consolidated net profit to Rs 194 crore. Net profit of Bajaj Finserv dropped after it's lending assets impairment climbed to Rs 1,950 crore from Rs 410 crore last year.
The MTM adjustment and the contingency provision, together considered as the Covid-19 impact, after adjusting for tax and the company’s interest in those subsidiaries, have impacted consolidated profit after tax of BFS for fourth quarter and 2019-20 by Rs. 807 crore.
However, the top-line rose 3 percent YoY to Rs 13,294. The interest income also surged 58 percent YoY to Rs 7,919 crore as compared to Rs 5,005 crore last year. The company's total insurance business in the March quarter declined significantly by 22 percent YoY to Rs 6,066 crore.
The assets under management (AUM) came in at Rs 56,085 crore v/s Rs 60,789 crore, down 7.7 percent QoQ.
Commenting on the weak Q4FY20 performance, S Sreenivasan, CFO of Bajaj Finserv said, "The situation is still evolving and it is difficult to hazard a guess on how this pandemic will evolve. The company and its subsidiaries will be focusing on profitability over growth, seeking to conserve cash, borrowing long-term, strengthening collections, reducing overheads and preserving capital adequacy."
Hindustan Zinc Q4 result
Net profit of Hindustan Zinc dropped 33% to Rs 1,339 crore & Net Sales declined 20% to Rs 4,391 crore. OPM dropped 600 bps to 45%. The company's mined metal production for the quarter was up two per cent year-on-year to 2,49,000 tonnes despite operations shutdown from March 22 onwards due to the coronavirus-induced lockdown.
Colgate Palmolive (India) Q4 result
Net profit of Colgate-Palmolive (India) rose 3% YoY to Rs 204 crore. Net Sales declined 7.2% to Rs 1,071 crore & sales volume declined 8% mainly due to recent COVID impact. OPM dropped 200 bps to 25%.
Hawkins Cookers Q4 result
Net profit of Hawkins Cookers dropped 31% YoY to Rs 9.4 crore & Net Sales declined 21% to Rs 146 crore. OPM dropped 200 bps to 10%.
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