Gold Prices Hit Record High of Rs 83,800, Silver Surges to Rs 94,150

Gold Prices Reach New Record High of Rs 83,800 Per 10 Grams, Silver Rallies to Rs 94,150 Per Kg

Gold prices have surged to a new all-time high of Rs 83,800 per 10 grams in the national capital, driven by strong global trends and expectations of potential import duty hikes. Silver prices also saw a significant rise, reaching Rs 94,150 per kg.

Domestic Market Performance

According to the All India Sarafa Association, gold of 99.9% purity increased by Rs 50 to hit the new peak of Rs 83,800 per 10 grams. Gold of 99.5% purity also advanced by Rs 50 to reach a lifetime high of Rs 83,400 per 10 grams. Silver prices rallied by Rs 1,150 to Rs 94,150 per kg.

Futures Market

In the futures market, gold contracts for February delivery climbed to a lifetime high of Rs 81,448 per 10 grams. April contracts also advanced to a fresh peak of Rs 81,850 per 10 grams on the Multi Commodity Exchange (MCX). Silver futures for March delivery surged by Rs 1,050 or 1.14% to Rs 92,916 per kg.

Factors Influencing Gold Prices

Analysts at LKP Securities noted that gold prices on the MCX rallied due to participants positioning themselves against potential import duty hikes following a 6% cut in the previous budget. There was a significant divergence between Comex and MCX, with domestic gold rallying 2.5% in the past week, while Comex gained only 0.50%.

International Market Trends

In international markets, Comex gold futures jumped by USD 23.65 per ounce or 0.84% to reach an all-time high of USD 2,817.15 per ounce. Comex silver futures also traded 2.06% higher at USD 32.04 per ounce.

Global Economic Uncertainties

Analysts at HDFC Securities highlighted that uncertainty around US President Donald Trump's policies is causing a decline in US Treasury yields, which is supporting gold prices. Investors are seeking safe-haven assets due to concerns about the economic consequences of potential trade tariffs and protectionist policies. The US Federal Reserve (Fed) also kept interest rates unchanged at 4.25-4.5%, signaling they are not in a hurry to cut rates. This policy stance has contributed to gold's appeal.

Focus on Economic Indicators

Traders are now focusing on key economic indicators such as GDP figures, jobs data, and pending home sales to gain further insights into the US economy, especially given Fed Chair Jerome Powell's emphasis that future rate decisions will remain data-dependent.

The surge in gold and silver prices reflects both domestic and global factors, including economic uncertainties, potential policy changes, and a preference for safe-haven investments. These trends are expected to keep precious metal prices volatile in the near term.

Disclaimer: The views and investment tips expressed in this article are for informational purposes only and do not represent financial advice. The views expressed are those of the sources cited and not necessarily those of this website or its management. Investing in equities or other financial instruments carries the risk of financial loss. Readers must exercise due caution and conduct their own research before making any investment decisions. We are not liable for any losses incurred as a result of decisions made based on this article. Please consult a qualified financial advisor before making any investment.

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L&T Q3 Results: Profit Rises 14% to Rs 3,359 Crore, Misses Street Expectations

L&T Q3 Results: Consolidated Net Profit Rises 14% to Rs 3,359 Crore, Misses Estimates

Larsen & Toubro (L&T) has announced its financial results for the third quarter of fiscal year 2025 (Q3 FY25), reporting a 14% year-on-year increase in consolidated net profit. While the company demonstrated strong revenue growth and a record order book, its profit fell short of Street estimates.

Financial Performance Overview

For the quarter ended December 31, 2024, L&T reported a consolidated net profit of Rs 3,359 crore, up from Rs 2,947 crore in the same period last year. However, this figure was below the Street's estimates of Rs 3,771 crore. The company achieved consolidated revenues of Rs 64,668 crore in Q3 FY25, registering a 17% year-on-year growth. This growth was driven by a strong order book and increased execution momentum across its Projects & Manufacturing (P&M) businesses. Revenue was nearly in line with Street estimates of Rs 64,742 crore.

Key Financial Highlights (Consolidated, YoY)

• Consolidated Net Profit: Increased by 14% to Rs 3,359 crore from Rs 2,947 crore.
• Consolidated Revenue: Increased by 17% to Rs 64,668 crore.

International Revenue and Order Book

L&T's international revenues during the quarter stood at Rs 32,764 crore, constituting 51% of the total revenues. This reflects improved execution in the international P&M portfolio.

The company received its highest-ever quarterly orders of Rs 116,036 crore at the group level during Q3 FY25, registering a substantial year-on-year growth of 53%. Orders were received across multiple geographies and diverse sectors such as thermal power, renewable energy, power transmission, precision engineering, and minerals & metals. International orders comprised 53% of the total order inflow, amounting to Rs 62,059 crore.

Management Commentary

Chairman and Managing Director S.N. Subrahmanyan stated, “This quarter has ended on a strong note for us. We have achieved the highest-ever quarterly order inflow in the company’s history. Consequently, our order book is at a record high." He also expressed expectations for the upcoming Union Budget to emphasize infrastructure development, technology adoption, skill development, and policy continuity towards energy transition.

L&T's Q3 FY25 results reflect strong revenue growth and a record order book, highlighting the company's operational capabilities and market position. While the company's profit missed Street estimates, its performance underscores its ability to secure large projects and deliver robust execution.

Disclaimer: The views and investment tips expressed in this article are for informational purposes only and do not represent financial advice. The views expressed are those of the sources cited and not necessarily those of this website or its management. Investing in equities or other financial instruments carries the risk of financial loss. Readers must exercise due caution and conduct their own research before making any investment decisions. We are not liable for any losses incurred as a result of decisions made based on this article. Please consult a qualified financial advisor before making any investment.

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Jindal Steel Q3 Results: Profit Halves to Rs 951 Crore Due to Weak Steel Prices

Jindal Steel Q3 Results: Profit Halves to Rs 951 Crore on Weak Steel Prices

Jindal Steel and Power reported a 51% year-on-year decline in its consolidated net profit for the third quarter of fiscal year 2025 (Q3 FY25), primarily due to weak steel prices and increased competition from cheaper imports. The company's financial performance reflects the challenges faced by the steel industry during the quarter.

Financial Performance Overview

For the quarter ended December 2024, Jindal Steel reported a consolidated net profit of Rs 951 crore, down 51% from Rs 1,928.27 crore (adjusted for YoY comparison) in the same period last year. Gross revenue remained relatively flat at Rs 13,707 crore. The company produced 1.99 million tonnes and sold 1.90 million tonnes of steel during the quarter, with sales volume rising 5% year-on-year.

Key Financial Highlights (Consolidated, YoY)

• Consolidated Net Profit: Decreased by 51% to Rs 951 crore from Rs 1,928.27 crore (adjusted for YoY comparison).
• Gross Revenue: Remained flat at Rs 13,707 crore.
• Adjusted EBITDA: Fell by 24% to Rs 2,133 crore.
• Steel Sales Volume: Increased by 5% to 1.90 million tonnes.

Adjusted earnings before interest, tax, depreciation, and amortization (EBITDA) fell by 24% year-on-year to Rs 2,133 crore, adjusted for a one-off forex gain of Rs 51 crore during the quarter.

Operating Profit and Debt

The adjusted operating profit per tonne of steel stood at Rs 11,209, lower than Rs 15,472 a year ago and Rs 11,467 in the previous quarter (Q2 FY25). The company's net debt rose to Rs 13,551 crore at the end of December from Rs 12,464 crore a quarter ago. The net debt to EBITDA ratio increased to 1.40 times from 1.21 times at the end of Q2 FY25. Jindal Steel spent Rs 2,857 crore on capital expenditure during the quarter.

Expansion Plans and Capex

Jindal Steel stated that its planned expansion projects are progressing as per the stipulated timelines. The company plans to spend Rs 23,400 crore on capital expenditure between 2025 and 2028. This includes carried-forward capex, sustenance capex, enhancing some projects, and integrated supply chain projects.

Jindal Steel currently has a production capacity of 9.6 million tonnes, which is projected to increase to 13.5 million tonnes in the next fiscal year and 15.9 million tonnes by 2026-27.

The company reported its earnings after market hours. Its shares closed at Rs 840.05 on the NSE, down 1% from the previous close.

Jindal Steel's Q3 FY25 results reflect the impact of weak steel prices and increased imports on the company's profitability. Despite the challenges, the company is progressing with its expansion plans and aims to significantly increase its production capacity in the coming years.

Disclaimer: The views and investment tips expressed in this article are for informational purposes only and do not represent financial advice. The views expressed are those of the sources cited and not necessarily those of this website or its management. Investing in equities or other financial instruments carries the risk of financial loss. Readers must exercise due caution and conduct their own research before making any investment decisions. We are not liable for any losses incurred as a result of decisions made based on this article. Please consult a qualified financial advisor before making any investment.

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PB Fintech Q3 Results: Profit Soars 88% to Rs 71.54 Crore on Strong Insurance Sales

PB Fintech Q3 Results: Net Profit Jumps 88% to Rs 71.54 Crore, Driven by Insurance Growth

PB Fintech, the operator of online insurance aggregator Policybazaar and credit marketplace Paisabazaar, has reported an 88% year-on-year increase in its consolidated net profit for the third quarter of fiscal year 2025 (Q3 FY25). The company's strong performance was primarily driven by a significant jump in its insurance broker services segment.

Financial Performance Overview

For the quarter ended December 31, 2024, PB Fintech reported a consolidated net profit of Rs 71.54 crore, up from Rs 37.96 crore (adjusted for YoY comparison) in the same period last year. Revenue from operations rose by 48% to Rs 1,292 crore, led by a 62% surge in insurance broker services, the company's largest segment.

Key Financial Highlights

• Consolidated Net Profit: Increased by 88% to Rs 71.54 crore from Rs 37.96 crore (adjusted for YoY comparison) year-on-year.
• Revenue from Operations: Rose by 48% to Rs 1,292 crore year-on-year.

Insurance Business Performance

PB Fintech's insurance premium grew by 44%, primarily fueled by a 47% growth in new health and life insurance premiums. Analysts attribute the company's continued success to the increasing demand in India's largely untapped insurance policy aggregator sector, supported by improving financial awareness and income levels.

Credit Business Performance

The company's credit business, which operates under the Paisabazaar brand, faced a slowdown following the Indian central bank's crackdown on unsecured lending. Disbursal in the online credit business declined by 20% year-on-year, with revenue from the segment dropping by 18%. However, total lending disbursal rose by 52%, driven mainly by the new secured credit business launched in the previous quarter.

PB Fintech's Q3 FY25 results highlight the company's strong growth trajectory, particularly in its insurance business. While the credit segment faced headwinds, the overall performance demonstrates the company's ability to capitalize on the growing demand for insurance products in India.

Disclaimer: The views and investment tips expressed in this article are for informational purposes only and do not represent financial advice. The views expressed are those of the sources cited and not necessarily those of this website or its management. Investing in equities or other financial instruments carries the risk of financial loss. Readers must exercise due caution and conduct their own research before making any investment decisions. We are not liable for any losses incurred as a result of decisions made based on this article. Please consult a qualified financial advisor before making any investment.

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Ajanta Pharma Q3 Results: Net Profit Grows 11% to Rs 233 Crore

Ajanta Pharma Q3 Results: Net Profit Rises 11% to Rs 233 Crore

Ajanta Pharma has reported an 11% year-on-year increase in its consolidated profit after tax for the third quarter of fiscal year 2025 (Q3 FY25), ended December 31, 2024. The company's financial performance reflects steady growth in its operations.

Financial Performance Overview

For the quarter ended December 31, 2024, Ajanta Pharma reported a consolidated profit after tax of Rs 233 crore, up from Rs 210 crore in the same period of the previous fiscal year. Revenue from operations for Q3 FY25 stood at Rs 1,146 crore, compared to Rs 1,105 crore in the year-ago period.

Key Financial Highlights (Consolidated, YoY)

• Net Profit: Increased by 11% to Rs 233 crore from Rs 210 crore.
• Revenue from Operations: Stood at Rs 1,146 crore, compared to Rs 1,105 crore in the year-ago period.

Shares of Ajanta Pharma settled 1.64% higher at Rs 2,670.70 apiece on the BSE following the announcement of the results.

Ajanta Pharma's Q3 FY25 results demonstrate the company's continued growth momentum, with an 11% increase in net profit. The company's performance reflects its steady progress in the pharmaceutical industry.

Disclaimer: The views and investment tips expressed in this article are for informational purposes only and do not represent financial advice. The views expressed are those of the sources cited and not necessarily those of this website or its management. Investing in equities or other financial instruments carries the risk of financial loss. Readers must exercise due caution and conduct their own research before making any investment decisions. We are not liable for any losses incurred as a result of decisions made based on this article. Please consult a qualified financial advisor before making any investment.

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Prestige Estates Q3 Results: Profit Drops 85% to Rs 17.70 Crore, Revenue Declines

Prestige Estates Q3 Results: Profit Plummets 85% to Rs 17.70 Crore

Prestige Estates Projects Ltd., a prominent real estate developer, has reported a significant decline in its consolidated net profit for the third quarter of fiscal year 2025 (Q3 FY25). The company's profit fell by 85% year-on-year, primarily impacting its overall financial performance.

Financial Performance Overview

For the quarter ended December 2024, Prestige Estates reported a consolidated net profit of Rs 17.70 crore, a substantial decrease from Rs 116.30 crore in the same period last year. Revenue for the quarter also declined by 7.9% to Rs 1,654.50 crore, compared to Rs 1,795.80 crore in Q3 FY24.

Key Financial Highlights (Consolidated, YoY)

• Revenue: Decreased by 7.9% to Rs 1,654.50 crore from Rs 1,795.80 crore.
• EBITDA: Increased by 7% to Rs 590.10 crore from Rs 551.50 crore.
• Margin: Improved to 35.7% from 30.7%.
• Net Profit: Declined by 85% to Rs 17.70 crore from Rs 116.30 crore.

Despite the sharp decline in net profit, Prestige Estates witnessed a 7% increase in EBITDA, reaching Rs 590.10 crore. The company's margin also improved to 35.7% from 30.7% in the year-ago period.

Shares of Prestige Estates closed 1.64% higher at Rs 1,342.35 apiece on the NSE, outperforming the benchmark Nifty 50, which advanced by 0.37%.

Prestige Estates' Q3 FY25 results reflect a challenging quarter for the real estate developer, marked by a significant decline in net profit despite an improvement in EBITDA and margin. The company's performance underscores the current dynamics within the real estate sector.

Disclaimer: The views and investment tips expressed in this article are for informational purposes only and do not represent financial advice. The views expressed are those of the sources cited and not necessarily those of this website or its management. Investing in equities or other financial instruments carries the risk of financial loss. Readers must exercise due caution and conduct their own research before making any investment decisions. We are not liable for any losses incurred as a result of decisions made based on this article. Please consult a qualified financial advisor before making any investment.

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Adani Enterprises Q3 Results: Profit Plummets 97% to Rs 58 Crore on Forex Losses

Adani Enterprises Q3 Results: Profit Plunges 97% to Rs 58 Crore, Revenue Declines 9%

Adani Enterprises, the flagship company of the Adani Group, has reported a sharp decline in its financial performance for the third quarter of fiscal year 2025 (Q3 FY25). The company's profit attributable to owners was nearly wiped out, falling by 97% year-on-year. The decline is attributed to a high notional forex MTM loss in the finance cost of its Australian mining operations due to the depreciation of the Australian dollar (AUD).

Financial Performance Overview

For the quarter ended December 2024, Adani Enterprises reported a profit after tax (attributable to owners) of Rs 58 crore, a drastic drop from Rs 1,888 crore in the same period last year. Revenue from operations declined by 9% year-on-year to Rs 22,848 crore. EBITDA for the quarter also fell by 5% year-on-year to Rs 3,071 crore.

On a sequential basis, the profit after tax dropped by 97% from Rs 1,742 crore in Q2 FY25. Revenue, however, showed a marginal increase of 1% quarter-on-quarter.

Key Financial Highlights (YoY)

• Profit After Tax (Attributable to Owners): Declined by 97% to Rs 58 crore from Rs 1,888 crore.
• Revenue from Operations: Declined by 9% to Rs 22,848 crore from Rs 25,141.56 crore (adjusted for comparison).
• EBITDA: Decreased by 5% to Rs 3,071 crore from Rs 3,227 crore.
• Other Income: Increased by 33% to Rs 652 crore from Rs 490 crore.
• Total Expenses: Declined by 1% to Rs 22,925 crore from Rs 23,180 crore.

Nine-Month Performance

For the nine months ended December 2024, Adani Enterprises reported a 6% growth in revenue to Rs 72,763 crore. Profit after tax for the period rose by 17% year-on-year to Rs 3,254 crore.

Segment-Wise Performance

Adani New Industries

• Total Income: Grew by 38% year-on-year to Rs 2,941 crore.
• Profit Before Tax (PBT): Increased by 26% year-on-year to Rs 691 crore.
• Solar manufacturing module sales reached 3.3 GW during the nine months, driven by export growth of 20% and a domestic sales increase of 176%.
• EBITDA margins continued to rise due to improved realization and operational efficiency.
• A 3.3 MW WTG model was listed in RLMM, expanding Adani New Industries' wind business offerings to four listed WTG models.

Adani Airports

• Total Income: Rose by 33% year-on-year to Rs 2,939 crore.
• PBT: Surged 2.6 times to Rs 237 crore.
• Navi Mumbai Airport conducted its first commercial flight validation test.
• 14 new routes, 4 new airlines, and 9 new flights were added during the quarter.

Management Commentary

"This exceptional nine-month performance underscores Adani Enterprises Ltd’s position as a powerhouse for nurturing transformative infrastructure and energy transition sectors," said Gautam Adani, Chairman of the Adani Group. "Strong growth across our incubating businesses, from energy transition to logistics and adjacencies, highlights the immense potential of our core plus portfolio. These results are a testament to our focus on execution.”

Following the announcement of the results, Adani Enterprises shares initially dropped by 5% but later recovered slightly, trading at Rs 2,256.6 on the NSE.

Adani Enterprises' Q3 FY25 results reflect a challenging quarter, primarily due to the significant impact of forex losses. However, the company's nine-month performance and growth in key segments like Adani New Industries and Adani Airports demonstrate its underlying strength and long-term potential.

Disclaimer: The views and investment tips expressed in this article are for informational purposes only and do not represent financial advice. The views expressed are those of the sources cited and not necessarily those of this website or its management. Investing in equities or other financial instruments carries the risk of financial loss. Readers must exercise due caution and conduct their own research before making any investment decisions. We are not liable for any losses incurred as a result of decisions made based on this article. Please consult a qualified financial advisor before making any investment.

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Adani Ports Q3 Results: Profit Up 14% to Rs 2,518 Crore, Cargo Volume Grows 4%

Adani Ports and Special Economic Zone Q3 Net Profit Rises 14% to Rs 2,518 Crore, Cargo Volume Up 4%

Adani Ports and Special Economic Zone (APSEZ) has reported a 14% year-on-year increase in net profit for the third quarter of fiscal year 2025 (Q3 FY25), reaching Rs 2,518.39 crore. This growth was accompanied by a 4% rise in cargo volume during the same period.

Financial Performance Overview

For the quarter ended December 2024, APSEZ reported a net profit of Rs 2,518.39 crore, up from Rs 2,208.21 crore in the corresponding quarter of the previous year. Revenue from operations for Q3 FY25 stood at Rs 7,963.55 crore, marking a 15.07% increase from Rs 6,920.10 crore in the year-ago quarter.

EBITDA and Guidance

Earnings Before Interest, Tax, Depreciation, and Amortization (EBITDA) for the December quarter grew by 15% year-on-year to Rs 4,802 crore, compared to Rs 4,186 crore in the same period last year. For the first nine months of FY25 (9M FY25), APSEZ's EBITDA surged 19% to Rs 14,019 crore, up from Rs 11,820 crore in the same period last year.

Reflecting its strong performance, APSEZ has increased its FY25 EBITDA guidance to Rs 18,800-18,900 crore from the earlier range of Rs 17,000-18,000 crore.

Cargo Volume Performance

Adani Ports reported cargo volumes of 113 million metric tonnes (MMT) in Q3 FY25, a 4% increase from 109 MMT in the year-ago quarter. During 9M FY25, APSEZ handled 332 MMT of cargo, representing a 7% year-on-year growth. This growth was led by a 19% increase in container volumes, an 8% rise in liquids and gas cargo, and growth in dry and dry bulk cargo (including iron ore, limestone, minerals, and coking coal). However, there was a decline in imported non-coking coal.

Adani Ports' all-India cargo market share for the first nine months of FY25 stood at 27.2%, up from 26.5% in FY24.

Other Key Highlights

• During 9M FY25, Adani Ports' revenue grew by 14% year-on-year, EBITDA by 19%, and net profit by 32%.
• EBITDA margin increased to 62% in 9M FY25, compared to 60% in the same period last year.
• The company closed the Gopalpur and Astro Offshore transactions, worth over Rs 4,600 crore, in Q3.
• Net debt to trailing twelve months EBITDA stood at 2.1 times, compared to 2.3 times in FY24.
• Adani Ports has implemented a Trucking Management Solution (TMS) driven by a technology platform.
• Container market share for 9M FY25 reached 45.2%, up from 44.2% in FY24.

Adani Ports and Special Economic Zone's Q3 FY25 results demonstrate the company's continued growth trajectory, driven by increased cargo volumes and operational efficiencies. The upward revision in EBITDA guidance further reflects the company's positive outlook for the remainder of the fiscal year.

Disclaimer: The views and investment tips expressed in this article are for informational purposes only and do not represent financial advice. The views expressed are those of the sources cited and not necessarily those of this website or its management. Investing in equities or other financial instruments carries the risk of financial loss. Readers must exercise due caution and conduct their own research before making any investment decisions. We are not liable for any losses incurred as a result of decisions made based on this article. Please consult a qualified financial advisor before making any investment.

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