InvestorQ : I hold shares of Laurus Labs and of IDBI Bank and wanted to understand the latest quarter results declared by both the companies?
Moii Chavate made post

I hold shares of Laurus Labs and of IDBI Bank and wanted to understand the latest quarter results declared by both the companies?

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Tisha Malhotra answered.
1 month ago
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Let me talk about Laurus Labs first. For the quarter to September 2022, Laurus Labs reported 30.9% higher sales at Rs1,576 crore. The profit growth took a hit on account of more funds locked up in inventories and trade receivables amidst supply chain constraints. That also impacted cash from operations. Net profits for the quarter was up 15.31% at Rs232.81 crore. The pressure from higher raw material costs and supply chain constraints resulted in the profit growth being slower than sales growth. Net profit margins for Laurus Labs at 14.77% in Q2FY23 were lower compared to 16.78% in Q2FY22 and 16.3% in Q2FY23.

Let me now turn to IDBI Bank. Total revenues were up 16.7% yoy at Rs6,052 crore in the September 2022 quarter. Revenue growth from corporate banking was flat yoy but revenues from retail banking surged sharply even as treasury flows plummeted in a rising interest rate scenarios. On the positive side, the profits got a 32% boost to Rs776 crore due to higher realizations on loans amid rising rates. Net interest margins or NIMs were robust at 4.37% compared to 3.02% last year. Gross NPAs are 500 bps lower at 16.5%, but still too high in absolute terms, although substantially provided for. Net profit margins at 12.82% in Q2FY23 were better on yoy basis but lower on sequential basis.

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