Q4 Results 2022: Kirloskar Industries, Muthoot Finance, Insecticides India declare March quarter results - key highlights here!

Q4 results 2022: Listed companies including Kirloskar Industries, Muthoot Finance, Insecticides India declared their March quarter results on Thursday. Here are key highlights of their fourth quarter results

Kirloskar Industries Q4 results 2022: company posts consolidated loss of Rs 44.20 cr for March quarter. Source: IANS

Q4 results 2022: Listed companies including Kirloskar Industries, Muthoot Finance, Insecticides India declared their March quarter results on Thursday. Here are key highlights of their fourth quarter results.

Kirloskar Industries Q4 results 2022: company posts consolidated loss of Rs 44.20 cr for March quarter

Kirloskar Industries Ltd on Thursday reported a consolidated loss of Rs 44.20 crore for the quarter ended March 31, 2022.

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The company had reported a profit of Rs 133.73 crore in the year-ago period, Kirloskar Industries Ltd (KIL) said in a statement.

Total revenue during the reporting quarter, however, rose 39 per cent to Rs 1,053.67 crore, as compared to Rs 758.10 crore in the fourth quarter of 2020-21.

For the full fiscal ended March 31, 2022, consolidated Profit After Tax stood at Rs 316.2 crore (before other comprehensive income), as against Rs 311.5 crore posted in the financial year ended March 31, 2021, the company said in a statement.

Total Income surged 83 per cent to Rs 3,820.1 crore in FY22, over Rs 2,082.3 crore clocked during the fiscal year ended March 2021, it stated.

"This was a good quarter for Kirloskar Industries Ltd. The standalone business top line grew at 29 per cent as compared to Q4 last year. This was mainly on account of higher dividend income," said Mahesh Chhabria, Managing Director, KIL, said.

During the quarter the company's subsidiary Kirloskar Ferrous Industries Limited acquired ISMT Limited to foray into pipe and value added steel products, it stated.

"We are confident of value unlocking through these invested companies. On the real estate side, Avante Spaces Limited is progressing as planned," Chhabria said.

Kirloskar Industries shares ended at Rs 1400 on the NSE on Thursday, up nearly 7 per cent from the last closing price.

Muthoot Finance Q4 results 2022: profit marginally declines to Rs 1,006 cr

Muthoot Finance on Thursday reported a marginal decline in its consolidated net profit at Rs 1,006.23 crore for the quarter ended March as core interest income fell.

The non-banking finance company, mainly into gold loan services, had registered a net profit of Rs 1,023.76 crore in the same period a year ago.

Compared sequentially, the net profit was lower than Rs 1,043.64 crore reported in the preceding December quarter.

The company's total income during Q4 FY22 declined to Rs 3,041.14 crore from Rs 3,118.98 crore in same period of FY21, Muthoot Finance said in a regulatory filing.

The interest income was down by 3.7 per cent at Rs 2,916.87 crore from Rs 3,029.83 crore in the year-ago period.

However, for the full fiscal year 2021-22, the net profit of the gold financier grew by 5.6 per cent to Rs 4,031.32 crore from Rs 3,818.87 crore in 2020-21.

Total consolidated income during the year also rose to Rs 12,237.46 crore from Rs 11,570.20 crore.

Consolidated loan assets under management increased to Rs 64,494 crore as of March 31, 2022, up by 11 per cent from the same period a year ago.

The company said it has declared a dividend of 200 per cent on face value of shares of Rs 10 each, involving a payout of Rs 803 crore.

"As the economy is gradually recovering, the demand for gold loans has been steady and we remain optimistic for the coming financial year. Gold prices have been steadily rising over the last three years and this has attracted new customers towards the product and has positively helped the sector," said George Jacob Muthoot, Chairman, Muthoot Finance.

George Alexander Muthoot, Managing Director of Muthoot Finance said, "Since we are witnessing signs of recovery in the economy, the RBI rate hike may not dampen overall demand scenario and we are expecting borrowing cost to go up gradually during the year.

"Gold loans are a great option, both in times of rise and drop in economic activities. As the economy recovers and overall economic demand revives, our focus will be to make the most of the opportunities and keep innovating further."

He said the gold loan AUM grew by 11 per cent in FY22.

"We remain optimistic about a growth of 12-15 per cent in gold loan AUM for FY23 as well. With respect to our subsidiaries, following the rise in demand in the economy, the collections from microfinance, vehicle finance and home loans have improved. We aim to further improve our collections in these segments," he said.

The company has subsidiaries in affordable housing finance, microfinance, vehicle finance, insurance broking, apart from a diversified NBFC in Sri Lanka.

Muthoot Finance shares closed at Rs 1,137.30 apiece on BSE, up by 1.28 per cent from previous close.

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Insecticides India Q4 results 2022: profit up 3% at Rs 22 cr

Agrochemicals maker Insecticides India Ltd (IIL) on Thursday posted 2.52 per cent increase in consolidated net profit at Rs 22.33 crore for fourth quarter of 2021-22 on higher income.

The company had logged a net profit of Rs 21.78 crore in the same quarter of previous fiscal year, according to a regulatory filing.

Total income increased to Rs 280.06 crore in the quarter as compared with Rs 257.73 crore in the year-ago period.

For 2021-22, the company posted 14.39 per cent increase in consolidated net profit at Rs 107.42 crore as compared with Rs 93.90 crore in the previous fiscal year.

Total income rose to Rs 1,508.22 crore last fiscal year from Rs 1,427.95 crore in 2020-21, the filing said.

The board has recommended a dividend of Rs 3 per share of face value of Rs 10 each subject to the approval of shareholders at the ensuing annual general meeting.

IIL has six formulation units in Chopanki (Rajasthan), Samba and Udhampur (Jammu & Kashmir), Dahej (Gujarat). It also has technical synthesis plants at Chopanki and Dahej to make technical grade chemicals.

Insecticides India shares closed 0.71 per cent up at Rs 741.85 apiece on the BSE on Thursday.

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