Q3 FY24 earnings calls.

ABB India reported a solid Q3CY24 with order inflows up 11% YoY, driven by strong base orders and a pickup in large contracts from data centers, rail, and export segments. Revenue grew 5% YoY, constrained by the longer g

Adani Enterprises reported a strong Q3 FY24, with nine-month consolidated income of INR 77,702 crore and EBITDA up 58% YoY to INR 9,592 crore. Emerging businesses (green hydrogen, airports, roads) contributed 22% to tota

Adani Green Energy reported strong operational and financial performance for 9M FY24, with revenue from power supply up 57% to INR 5,794 crore and EBITDA up 52% to INR 5,412 crore, maintaining an industry-leading EBITDA

Adani Ports delivered its strongest ever quarterly performance in Q3 FY24, with revenue surging 45% YoY to INR 6,920 crore and EBITDA growing 39% YoY to INR 4,186 crore. PAT jumped 65% YoY to INR 2,208 crore, driven by r

Aditya Birla Capital delivered a strong Q3 FY24 with consolidated revenue up 29% YoY to ₹9,997 crore and PAT up 39% YoY to ₹736 crore, driven by robust lending growth (NBFC AUM +35% YoY) and disciplined cost management.

ABFRL reported Q3 FY24 consolidated revenue of INR 4,167 crore, up 16% YoY, driven by new businesses (ethnic, digital, sportswear) contributing ~20% of revenue. EBITDA grew to INR 605 crore with margin expansion of 150 b

AIA Engineering reported Q3 FY24 revenue of INR 1,146 crore, with EBITDA of INR 395 crore (33.79% margin) and PAT of INR 279 crore. Sales volume was 74,000 tons, bringing 9-month total to 225,000 tons, with mining volume

Ajanta Pharma reported a strong Q3 FY24 with consolidated revenue of INR 1,105 crore, up 14% YoY, driven by broad-based growth across branded generics. EBITDA margin held steady at 28%, supported by improved gross margin

Alkem reported a strong Q3 FY24 with 9% YoY revenue growth and 160bps EBITDA margin expansion to 21.3%, driven by lower API costs and favorable mix shift toward higher-margin ROW markets. Domestic business outperformed I

APAR Industries reported a solid Q3 FY24 with consolidated revenue of INR 4,013 crore (+2% YoY), EBITDA of INR 432 crore (+24% YoY) at a margin of 10.8% (up 190 bps YoY), and PAT of INR 218 crore (+28% YoY). Growth was d

Apollo Hospitals reported a strong Q3 FY24 with consolidated revenue of INR 4,851 crore (+14% YoY) and EBITDA of INR 614 crore (+21% YoY). PAT surged 56% YoY to INR 245 crore, driven by robust healthcare services growth

Ashok Leyland reported its best-ever Q3 with revenue of INR 9,273 crore (+3% YoY) and EBITDA margin of 12.0% (+320 bps YoY), driven by strict pricing discipline, cost optimization, and commodity tailwinds. PAT surged to

Asian Paints reported a strong Q3 FY24 with 12% volume growth in decorative business, driven by recovery in Tier 3/4 cities and robust industrial performance. Gross margins reached multi-year highs, aided by raw material

Astral delivered a robust Q3 FY24 with 15% volume growth in plumbing (24% in 9M) despite PVC/CPVC price declines of 7%/5% and ~INR 35cr one-offs (25th-anniversary event, Bathware branding, inventory losses). Plumbing EBI

AU Small Finance Bank reported Q3 FY24 results in line with expectations, with balance sheet crossing INR 100,000 crore and deposits growing 31% YoY to over INR 80,000 crore. Loan book (gross of securitization) crossed I

Aurobindo Pharma reported Q3 FY24 revenue of INR 7,352 crore (+14.7% YoY) and EBITDA margin of 21.8%, driven by strong US formulation growth (+28.9% YoY) and injectable/specialty revenue surging 58% YoY to $112M, partly

Axis Bank reported a steady Q3 FY24 with PAT of INR 6,071 crore, up 4% QoQ, driven by robust loan growth (23% YoY gross of IBPC) and fee income (29% YoY). NIM declined 10bps QoQ to 4.01% due to rising deposit costs, but

Bajaj Auto delivered a record Q3 FY24 with revenue of ₹12,114 crore (up 30% YoY), EBITDA of ₹2,430 crore (margin 20.1%, up 100bps YoY), and PAT crossing ₹2,000 crore for the first time. Domestic business drove growth wit

Bajaj Finance reported a mixed Q3 FY24 with strong AUM growth of 35% to INR 311,000 crore and record new customer acquisitions of 3.85 million. PAT grew 22% to INR 3,639 crore, but was dampened by elevated loan losses of

Bajaj Finserv reported a strong Q3 FY24 with consolidated total income up 34% to INR 29,038 crore and PAT up 21% to INR 2,158 crore. Growth was driven by robust performance across subsidiaries: Bajaj Finance (AUM +35%, P

Bandhan Bank reported a strong Q3 FY24 with PAT surging 152% YoY to INR 733 crore, driven by robust loan growth and stable asset quality. Advances grew 18.6% YoY to INR 116,000 crore, with secured assets reaching 44.5% o

Berger Paints reported a solid Q3 FY24 with standalone volume growth of 9.1% and EBITDA growth of 38% YoY, driven by gross margin expansion to a 10-quarter high of 40.3%. Decorative business posted double-digit volume gr

BPCL reported Q3 FY24 revenue of ₹1,29,976 crore and PAT of ₹3,397 crore, with nine-month PAT at ₹22,449 crore (vs loss last year). Refinery throughput hit 9.86 MMT (100%+ capacity) despite Mumbai shutdown, with GRM of $

Bharti Airtel reported a satisfactory Q3 FY24 with consolidated revenue of INR 37,900 crore, impacted by African currency devaluation. India revenue grew 3% sequentially to INR 27,800 crore, with EBITDA margins at 53.9%.

Biocon's Q3 FY24 consolidated revenue from operations grew 34% YoY to INR 3,954 crore, driven by a 65% surge in biosimilars revenue, partially offset by a 7% decline in generics. Core EBITDA margin stood at 27%, impacted

Bosch Limited reported a strong Q3 FY24 with revenue from operations at INR 42,052 million, up 14.9% YoY, driven by 18.5% growth in product sales across powertrain, aftermarket, and two-wheeler segments. EBITDA surged 56

Britannia reported Q3 FY24 revenue of INR 4,192 crore, up 2% YoY, with operating profit margin of 17.7%. Volume growth was 5.5%, driven by premium portfolio gains, while pricing was negative ~3.5% YoY due to strategic pr

Canara Bank reported a strong Q3 FY24 with net profit of INR 3,656 crore, driven by robust RAM sector growth (14.56% YoY) and controlled credit costs (0.97%, first time below 1%). The bank absorbed a one-time wage revisi

CDSL reported a strong Q3 FY24 with consolidated total income up 47% YoY to INR 236 crore and net profit up 44% YoY to INR 107 crore, driven by robust growth in demat accounts and transaction volumes. The subsidiary CDSL

Cipla delivered a strong Q3 FY24 with revenue of INR 6,544 crore (+14% YoY) and EBITDA margin of 26.3%, driven by market-leading growth in India (+12%), an all-time high US revenue of $230 million (+18% YoY), and robust

Coal India reported a strong Q3 FY24 with highest-ever nine-month revenue of INR 104,914 crore (+5% YoY) and PAT of INR 23,849 crore. Production grew 11% YoY to 531.9 MT, driven by robust demand from power plants and imp

Coforge reported a solid Q3 FY24 with organic CC revenue growth of 14.7% YTD and sequential growth of 1.8% CC, despite unusually high furloughs in BFS and a depressed demand environment. The firm signed 3 large deals, ta

Coromandel's Q3 FY24 results were sharply down YoY, with consolidated revenue of ₹5,523 crore (-33.8%), EBITDA of ₹358 crore (-54.2%), and PAT of ₹288 crore (-69.3%). The steep decline was driven by lower fertilizer volu

Dabur delivered a solid Q3 with consolidated revenue of INR 3,255 crore (+7% YoY) and 6% volume growth in India FMCG. Gross margin expanded 310 bps on material deflation, while operating profit grew 9.5% with 50 bps marg

Divis Laboratories reported a steady Q3 FY24 with PAT of INR 358 crore on total income of INR 1,950 crore. The custom synthesis segment improved to 46% of revenue, driven by two large projects entering full-scale product

Dixon Technologies reported a stellar Q3 FY24 with consolidated revenue surging 100% YoY to INR 4,821 crore, driven by a 251% YoY jump in mobile & EMS revenue to INR 3,214 crore. EBITDA grew 64% YoY to INR 187 crore, whi

DLF delivered a stellar Q3 FY24 with consolidated revenue of INR 1,644 crore, EBITDA of INR 633 crore, and PAT of INR 649 crore, up 26% YoY. The standout was record quarterly sales bookings of INR 9,047 crore, driven by

Dr. Reddy's delivered a solid Q3 FY24 with INR 7,215 crore revenue (+7% YoY) and INR 1,379 crore PAT (+11% YoY), driven by US generics (up 7% to $401M) and Europe (up 8% to EUR 55M). EBITDA margin held at 29.3% despite S

Eicher Motors delivered a record Q3 with consolidated revenue of ₹4,179 crore (+12.3% YoY), EBITDA of ₹1,090 crore (+27.2% YoY), and PAT of ₹996 crore (+34.4% YoY), driven by strong Royal Enfield performance and market s

Fortis Healthcare reported a satisfactory Q3 FY24 with consolidated revenue of INR 1,680 crore (+8% YoY) and operating EBITDA margin of 16.9% (down 80bps YoY). Hospital business revenue grew 10% YoY to INR 1,389 crore, w

GAIL reported a strong Q3 FY24 with consolidated PAT of INR 3,195 crore, up 31% QoQ, driven by robust gas marketing margins, higher petrochemical sales, and improved LHC realizations. Gas marketing margin guidance was ra

Gland Pharma reported consolidated revenue of INR 1,545 crore in Q3 FY24, up 65% YoY, driven by the Cenexi acquisition and strong US base business growth of 17% YoY. EBITDA margin contracted to 23% (vs 31% YoY) due to Ce

Glenmark's Q3 FY24 consolidated revenue fell 16% YoY to INR 29,096 million, primarily due to a one-time India distribution restructuring that reduced channel inventory. Excluding this, revenue would have grown ~9%. The I

Godrej Consumer Products reported Q3 FY24 results in line with expectations, with consolidated underlying volume growth of 5% and EBITDA growth of 16% ahead of sales. India volumes grew 12% and EBITDA 18%, driven by stro

Godrej Properties reported its most successful quarter ever with new bookings of ₹5,720 crore, up 76% YoY, driven by strong launches like Godrej Aristocrat (₹2,667 crore) and Godrej Ananda (₹500 crore). Cash collections

Grasim's Q3 FY24 consolidated revenue grew 12% YoY to INR 31,965 crore, with EBITDA up 34% to INR 5,150 crore, driven by volume growth in VSF (34%) and caustic soda (5%), though realizations remained weak due to global o

GFL reported Q3 FY24 consolidated revenue of INR 1,992 crore (up 5% QoQ) and EBITDA of INR 206 crore (up 26% QoQ), with EBITDA margin expanding 400 bps QoQ to 21%. The recovery was driven by bottoming of bulk chemicals a

Happiest Minds reported Q3 FY24 revenue of INR 410 crore, up 11.7% YoY, with EBITDA margin of 24.2%, beating guidance for the 15th consecutive quarter. Growth was led by PDES, while IMSS saw ramp-downs. The company added