Q4 earnings watch: Corporates shrug off headwinds to pocket more profit per rupee
Indian companies maintained robust profit growth last fiscal year, even as revenue expansion remained muted amid market volatility and geopolitical uncertainties over the past six months.
Margin pressures eased consistently throughout fiscal year 2024-25 and both operating profits and net profits rose as a share of revenue gradually across all four quarters, showed a
Mint
analysis of 329 BSE-listed companies.
The analysis, based on standalone numbers sourced from the Capitaline database of listed companies that have declared results for the quarter ended March, shows operating margins rose to 28.8% in the fourth quarter from 26% in the first quarter, while net profits climbed from 9.6% to 11.2% during the period. The improvement was achieved through cost controls, better pricing or operational efficiency despite muted volume growth.
Also read:
How India pays online: UPI leads with 65% share, EMIs make up 20%—in charts
But only a few truly aced it completely. A detailed company-wise analysis of net profit margins showed that 26 of the 329, or only 8% companies, managed a consistent recovery in margin over the four quarters of 2024-25. For instance, Mukesh Ambani-led Reliance Industries Ltd was the only large-cap company that reported a consistent rise in net profit margins across all the four quarters. Pharma-focused Laurus Labs Ltd, engineering products firm Skipper Ltd and Himadri Speciality Chemical Ltd were among the other companies that saw their profitability improve.
Conversely, about 21 companies recorded a consistent decline in the net profit margins during this period, signalling a persistent margin pressure among a few.
Also read:
India's GDP growth likely improved to 6.3% in December quarter: Mint poll
However, the sectoral performance painted a more nuanced picture, even as aggregate margins showed recovery.
While maintaining impressive double-digit profit margins, information technology (IT) services and construction and real estate sectors saw margins decline over a year earlier in Q4. Large deals provided top-line support for the IT services companies in Q4 but could continue to exert pressure on margins, analysts at JM Financials wrote in a recent report.
Also read:
FMCG's mixed bag: Rural strength masks
slump in latest quarter
The fast-moving consumer goods (FMCG) and automotive and ancillaries industries displayed some resilience amid a persistent subdued demand environment. Their net profit margins stayed stable or flat as some consumer staples companies balanced high commodity prices with cost controls.
Among the sectors that performed well, metals and mining, travel and hospitality and pharma and healthcare reported a significant improvement, with margins rising by about 450-550 percentage points over the last fiscal.
This is the fifth part of a series of data stories about the ongoing Q4 earnings season. Read the
first
,
second
,
third
and
fourth
part here.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
15 minutes ago
- Time of India
Middle East conflict stalls 1 lakh tonnes of India's basmati rice exports to Iran
Nearly 1 lakh tonnes of basmati rice shipments bound for Iran have been stranded at Indian ports as the ongoing Israel-Iran conflict disrupts maritime logistics and insurance coverage, according to the All India Rice Exporters Association (AIREA) on Monday. Association president Satish Goyal said consignments amounting to roughly 1,00,000 tonnes, primarily stuck at the Kandla and Mundra ports in Gujarat, cannot be shipped due to a lack of vessels and insurance options for Iran-bound cargo amid escalating tensions in the region. "Iran accounts for 18–20 per cent of India's total basmati rice exports ," Goyal told PTI. With international conflicts not typically covered under standard marine insurance, exporters have been left in limbo, unable to fulfil shipments or secure payments. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Palencia : Qué compañía eléctrica tiene las facturas más baratas? Energía más barata Undo The halt in exports is already rippling into the domestic market. "Prices of basmati rice have dropped by ₹4–₹5 per kg," he said, warning that prolonged disruption could lead to serious financial strain for Indian exporters. The association is currently in discussions with the Agricultural and Processed Food Products Export Development Authority (APEDA) and is scheduled to meet Union Commerce and Industry Minister Piyush Goyal on June 30 to seek intervention and relief measures. Live Events Iran remains India's second-largest market for basmati rice after Saudi Arabia. In the financial year 2024–25, which ended in March, India exported around 1 million tonnes of basmati rice to Iran. India's total basmati exports stood at about 6 million tonnes in 2024–25, with demand largely concentrated in the Middle East and West Asia. Other key buyers include Iraq, the United Arab Emirates, and the United States. With inputs from PTI
Time of India
16 minutes ago
- Time of India
Buying gold from Dubai? Here's an essential guide of Dos and Don'ts before you purchase
Dubai, also known as the 'City of Gold' isn't just a shopper's paradise but also a global gold hub famous for its quality, variety and tax-free prices. The city is home to a mix of traditional gold souks, offering incredible opportunities for buyers to make their gold purchase more overwhelming with numerous styles, sellers and pricing structures. Whether you're looking for an investment piece, a travel keepsake, or a showstopping gift, here's everything you need to know to make your Dubai gold shopping experience smooth, secure, and truly golden. The city is home to a mix of traditional gold souks and sleek modern showrooms, drawing tourists and investors alike. But while the options are abundant, understanding how to buy gold smartly and safely is essential, especially for those unfamiliar with the process as per a Gulf News report. Buying gold from Dubai is a golden opportunity if you shop smart. Therefore, here's the complete guide of 'DOs' and 'DON'Ts' before buying the glittering purchase from Dubai. Buy gold in Dubai : Essential 'Dos' before you buy Always check the daily gold rate Gold prices in Dubai are regulated and tied directly to the international market. The rate fluctuates daily and is quoted in dirhams per gram. Checking the day's rate gives you a baseline to compare prices across stores and avoid overpaying. Most reputable stores display the live rate on digital boards inside their premises. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 5 Books Warren Buffett Wants You to Read In 2025 Blinkist: Warren Buffett's Reading List Undo This transparency helps customers see the price breakdown — separating the actual gold cost from additional charges. Understand gold karats and what they mean The term karat refers to the purity of gold: 24K (99.9% pure): The highest purity, usually bought in bars and coins. It's too soft for most wearable jewellery. 22K (91.6% pure): Commonly used for jewellery. Offers a good balance between purity and durability. 21K and 18K: More alloyed, making them stronger and better for everyday use. The karat you choose should depend on your purpose investment (24K) or jewellery (18K–22K). Higher purity means a higher price, but also less strength in structure for wearable items. Buy from reputable, licensed sellers Dubai enforces stringent regulations on gold trading. Still, it's best to stick with licensed sellers in established locations: Deira Gold Souk: Traditional, bustling marketplace with hundreds of small gold vendors. Meena Bazaar: Popular with Indian expatriates and tourists, known for ornate bridal jewellery. High-end malls: Home to global jewellery brands offering premium designs with certified purity. Reputable sellers are monitored by the Dubai government for quality, pricing, and ethical practices. Buying from such stores drastically reduces the risk of counterfeit or under-purity products. Verify the hallmark on every piece Every authentic gold item in Dubai is stamped with a hallmark which is a tiny engraving that certifies the karat and origin. This is verified by the Dubai Central Laboratory, which ensures the gold meets the advertised purity standards. You'll usually find the hallmark discreetly etched on the inner band of rings or hidden areas of necklaces. Ask the seller to point it out and explain what it means. Understand making charges and how they affect pricing Gold jewellery isn't sold at just the metal value. The making charge is a separate cost added for the artistry and labor involved in designing the piece. These charges vary depending on: Intricacy of design Brand prestige Type of setting (e.g., gemstone-studded pieces) This fee can be anywhere from 5% to 25% of the gold price. However, in Dubai, many vendors are open to negotiation — especially in the souks. Insist on certificates and receipts Proper documentation is your best defense as a buyer. Always get: Certificate of authenticity: Confirms the karat, weight, and type of gold. Detailed invoice: Lists gold price per gram, total weight, making charges, and final amount paid. These documents will help if you plan to resell, face customs inquiries, or need repairs or exchanges. Explore your payment options Dubai gold retailers are generally flexible with payment. Most accept: Credit/Debit Cards Cash Bank transfers for high-value purchases Some vendors may offer small discounts for cash purchases, as it helps them avoid card processing fees. Also, some buyers prefer cash to avoid foreign transaction fees on cards. Buying Gold from Dubai: Common mistakes to avoid Don't fall for suspiciously low prices If a seller offers a deal far below the market rate, be cautious. It could mean the item is: Gold-plated (not solid gold) Of lower karat than claimed Fake entirely Always compare the store's rate with the published daily rate to avoid being scammed. Don't expect to bargain on gold price The price of gold itself is non-negotiable, as it's fixed based on international rates. What you can negotiate is the making charge. Vendors may reduce it for bulk purchases or simpler designs. Don't skip the important questions. A trustworthy seller will always be happy to answer questions like: Where was the gold sourced? What is your return/exchange policy? Can you explain your pricing structure? If a seller gets defensive or dismissive, take that as a red flag. Don't trust only verbal guarantees A seller may assure you that something is '100% real' or 'top-quality,' but unless it's backed by documentation and hallmarks, don't buy into it. Written proof is your only legal protection. Don't ignore customs regulations in your home country Taking gold home isn't as simple as it sounds. Most countries have strict import limits. For example: As per reports, India allows only 20 grams (approx.) duty-free for male passengers, and up to 40 grams for female passengers. Anything above the limit is taxable and must be declared. Failure to do so could result in heavy fines or confiscation. Always check your country's customs website for the latest rules. 6 Quick tips when buying gold from Dubai Use reliable websites or check local news for real-time updates on the gold rate before heading out. Always ask the seller to explain which karat is best for your intended use ; they'll usually be happy to guide you. No hallmark = no purchase. Always insist on seeing it before buying. If you're making a big purchase, inform your bank ahead of time so your card isn't declined abroad. If the seller refuses to issue paperwork, walk away . If you're on a budget, ask for lighter, simpler designs with lower making charges or even flat-rate options. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Mint
16 minutes ago
- Mint
Small-cap stock hits upper circuit, bagging Mega Power Transmission Order
Stock Market Today: Small-cap stock gained 5% to hit the upper circuit during the intraday trades on Monday after having bagged the Mega Power Transmission Order. Bajel Projects, over the weekend on 21 June, announced having secured Ultra Mega* EPC, or engineering, procurement, and construction orders of transmission lines. Ultra-mega orders, as per the company's classification, are orders worth more than ₹ 400 crore. As per the release by Bajel Projects on the National Stock Exchange of India and also on the BSE, or the Bombay Stock Exchange, they announced having secured an order from Power Grid Corporation of India Limited (PGCIL). The order has been placed on behalf of their special projects vehicle, or the SPV, 'M/s MEL POWER TRANSMISSION LIMITED,' as per the Bajel Projects press release. Bajel Projects is a BAJAJ GROUP company and in the engineering, procurement, and construction business, with a strong presence in the power transmission and distribution sectors. Small-cap stock Bajel Projects said that the broad consideration of the order is for 1. Construction of 400 kV New Transmission Line—138 km. 2. 400 kV substation bay extension works at Rewa Substation. The work involves the Transmission Line Package TL01 for (i) Mahan (Existing Bus) - Rewa PS (PG) 400 kV D/c Quad ACSR/AAAC/AL59 Moose Equivalent line and (ii) Extension of 400 kV Rewa (PG) associated with the transmission system for evacuation of power from Mahan Energen Limited Generating Station in Madhya Pradesh. The domestic EPC contract for power transmission line & substation bay extension works is to be completed by Bajel Projects in 29 months from the date of issuance of the Notification of Award. Bajel Projects share price opened at ₹ 209.80, and at the time of opening, it was 5% higher than the previous day's closing price. The small-cap stock Bajel Projects thereafter continued trading at the same levels, as ₹ 209.80 was the upper price band for the stock. Thus, Bajel Projects share price was locked in the upper circuit on Monday during the intraday trades. Disclaimer: This story is for educational purposes only. The views and recommendations made above are those of individual analysts or broking companies and not of Mint. We advise investors to check with certified experts before making any investment decisions.
