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Vodafone Idea Q1 Result: Net Loss at Rs 25,460 crore

Vodafone idea

Vodafone Idea Ltd in its Q1 FY21 result reported a Net Loss of Rs 25,460 crore. Last year in the corresponding quarter, the debt-ridden telecom player reported a net loss of Rs 4873.9 crore. It is almost a five-fold increase in net loss year-on-year (YoY).

Q1 FY21Q4 FY20Q1 FY20QoQ%YoY%
Revenue106,593117,542112,699(-)9.4%(-)6%
Net Profit/Loss(-)254,600(-)116,435(-)48,739(-)118%(-)429%
Operating Profit4,098.44,380.13,650(-)6.43%(+)12.28%
Amount in Rupees Crore

Vodafone India Limited merged into Idea Cellular Limited (ICL) on August 31, 2018. Consequently, the name of the company has been changed from ICL to Vodafone Idea Limited. Vodafone Idea Limited is an Aditya Birla Group and Vodafone Group partnership. Vodafone Idea like many telecoms has been in news lately, because of the AGR Dues Case Pending in the Supreme Court.

You can read more about Telecom AGR Dues here.

Vodafone-Idea’s performance indicators given below show the reduced Subscriber Base and Total Data Subscribers. Other indicators show the increase in BroadBand Usage, Increased Data Volume Usage, Average Data Usage per person, 4G Coverage Population and Total Unique Broadband Towers.

The company’s ARPU(Average Revenue Per User) jumped at the beginning of the lockdown from Rs.109 to Rs.121 but reduced to Rs.114 this quarter. The reason behind this could be the eased restrictions where people started using Commercial/Office Broadband over Personal Data Packs.

Key Performance Indicators

The Future

“We have rolled out a further cost optimization plan across the company in line with the evolving industry structure and business model. Through this, we plan to achieve Rs. 40 billion of annualized cost savings over the next 18 months. As a step in that direction, we are in the process of organization-wide restructuring“, Vodafone Idea said in its press release.

The company also said “The merger of Indus Towers and Bharti Infratel has received FDI approval. The long stop date on the original agreement has been extended to August 31, 2020. We have the option to monetize our 11.15% stake in Indus on completion of the Indus-Infratel merger“.

Vodafone-Idea’s balance AGR dues were placed at Rs 50,400 crores in the preliminary SC hearing. The final hearing is expected to be on 10th August 2020.

The advent of Jio put a huge blow to other telecoms due to its unconventional pricing. The company report shows its interest and willingness in raising liquidity, paying bank AGR dues in due course of time and expansion in terms of infrastructure. If the company manages to raise investment at the same time price competitively the company can very well manage to get back on its feet.

You can read the Official Result by clicking here.

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Havells vs V-Guard Industries, Q1 Results Declared.

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Havells India Ltd declared its Q1 Results facing a staggering decline of almost 64% in Net Profit QoQ basis and a decline of 63.8% of Net Profit on YoY basis. Its revenue generation stood as Rs 1516 Crores this year as compared to Rs 2238 Crores in Q4FY20 which is a reduction of 32%(QoQ). Last Financial Year, the company had declared a Total revenue of Rs. 2756.5 Crores.

V-Guard declared a Net Profit of just 3.6 Crore this quarter as compared to Rs. 32.2 crores last quarter Q4FY20 which is an 88.71% reduction in Net Profit(QoQ) and 93.14 %(YoY) with last year’s Q1 result at Rs.53 Crores.

According to V-Guard, “The spread of COVID-19 pandemic and consequent national and local lockdowns have had an adverse impact on the Company’s operations. Due to Market closures, supply chain disruptions and other effects of the lockdowns, tl1e Company’s revenues for the quarter ended June 2020 were 42% lower than the corresponding quarter of the previous year“.

Havells V-Guard
Total Revenue Change (QoQ) -32% -24.45
Net Profit Change %(QoQ)– 64%-63.8%
Total Revenue Change (YoY)-45%-42.13%
Net Profit Change %(YoY)-63.87%-93.14%
Comparative Change in Revenue and Profit

Both Havells and V-Guard are both electrical appliance manufacturers with Havells having a market cap of Rs. 372.74B and V-Guard with a Rs.70.84B. Both company shares moved sideways throughout the day and tanked by the end of the day due to expectation of poor performance.

To check company report for Havells click here.

To check company report for V-Guard click here.

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ICICI Bank Q1 Results. Reduced NPA, 23.12% Net Gain YoY

ICICI Bank declared its Q1FY21 results on 25th July 2020. The bank declared a Total revenue of Rs. 37939.3 Crores as compared to Rs.40121.5 Crores in Q4FY21, which is a reduction of 5.44%(QoQ) but an increased revenue on a YoY basis of almost 12.02%.

Q1 FY21Rs. Cr.Q4 FY20Rs.  Cr.Q1 FY20Rs.   Cr.QoQ%YoY%
Revenue 37939.340121.533,868.9-5.44%12.02%
Net Profit3,586.91,613.22,913.4122.3%23.12%

The ICICI bank declared a net profit of Rs. 3589.9 Crore which is almost twice the net profit (QoQ) than last year Q4FY21 along with a 23.12% increase in net profit YoY%.Net non-performing asset (NPA) ratio decreased from 1.41% at March 31, 2020, to 1.23% at June 30, 2020.

Total period-end deposits crossed Rs 8 lakh crore, total deposits were Rs 801,622 crore (US$ 106.2 billion) at June 30, 2020, 15% growth in average current and savings account (CASA) deposits in Q1-2021; average CASA ratio was 41.0% in Q1- 2021  Term deposits grew by 27% year-on-year at June 30, 2020. Provisions (excluding Covid-19 related provisions and provision for tax) declined by 42% year-on-year

The shares of ICICI rallied almost by 10% from 353.20 to 392.95 in about a week from the Q1 results. The positive results of ICICI can be attributed to the moratoriums and relief measures announced by the government to stimulate the economy.

You can read the official results by clicking here

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ZEE reports net Q4 loss of Rs 765.82 crores

Zee Entertainment Enterprises Ltd (NSE: ZEEL) reported a net loss of Rs 765.82 crore for the quarter ended March 31 (Q4 FY20). The company had posted a profit of Rs 292.53 crores for the corresponding quarter of the previous financial year.

ZEELQ4 FY20Q3 FY20Q4 FY19QoQ%YoY%
Total Income1991.742119.62076.06-6.03%-4.06%
Total expenditure2677.771608.571612.666.47%66.05%
Net Profit/Loss-766.68349.43291.88-319.41%-362.67%
Values in crore rupees

ZEE’s operating revenue stood at Rs 1951.74 crores in Q4 against Rs 2048.65 crores in Q3 of FY20, down 4.73% QoQ (quarter-on-quarter) and down 3.4% YoY to Rs 1,951.1 crore. This fall was mainly attributed to the loss in advertising revenues due to the unexpected situations which followed the COVID-19 induced slowdown in the industry.

A one-time provision of Rs 343.3 crore was included  for  “subscription and other assets where recovery has become doubtful on account of COVID-19 led uncertainty”, as said by ZEE.

ZEE in its BSE filing said that it achieved a 33% growth in domestic subscription revenues,the highest in the industry. Some key takeaways from the filing were :

  • ZEEL exited FY20 as the market leader with 18.3% viewership share.
  • ZEEMUSIC Co, a subsidiary of ZEE, maintains a highly successful YouTube channel with 55 million subscribers and 800 crore total views.
  • ZEESTUDIOS was the 3rd largest movie studio in the country in terms of box office collection.
  • ZEE5, the online streaming service, recorded 6.31 crore global monthly active users(MAUs).
  • Multiple domestic channels were introduced despite lockdown and the company expects it to boost revenues.

ZEE is expected to grow in the coming years alongside the entertainment industry. The ever-increasing demand for content will lead to advertisers will gradually returning. What is worrying is the investment of ZEE into new TV channels instead of focusing on online content distribution. With more of India population on the internet , ZEE5 and ZEEMUSIC can be pushed to become the main income generating platforms for the company. It is time to question whether ZEE is yet to get a wake-up call that online streaming is the future for the entertainment industry.

Shares of Zee Entertainment Enterprises(NSE:ZEEL) on Friday ended down 4.84% to Rs 151.25 in anticipation of poor results. You can read the complete BSE filing here.

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ITC Q1 Results Out. Net Profit Down -25.30%.

Indian Tobacco Company(ITC) has declared its Q1 results. ITC declared a decreased Net Profit YoY by 25.30% standing at Rs.2567.07 crores, it performed less by 34.61% (QoQ) than the last quarter (Q4FY20). Its total revenue stood at Rs. 11403.59 crores this quarter as compared to Rs.13228.30 in Q4FY20, which is a decreased revenue of almost 13.79% and a YoY reduction by almost -25.30%.

Q1 FY21Rs. Cr.Q4 FY20Rs. Cr.Q1 FY20Rs. CrQoQ%YoY%
Revenue11403.5913228.4013305.45-13.79%-14.29%
Profit2567.073926.453436.51-34.61%-25.30%
Consolidated Results

75% of ITC profits still came in form cigarette sales which indicates a poor growth in other areas of the company. The hotel sales of ITC were down by 94% from about Rs 392.59 Crores to about Rs 22 Crores. The Agri-business of ITC saw a growth of about 3.7% as compared to last year and a staggering 98% as compared to last Quarter(Q4FY20)

Earlier this morning the company tanked expecting an estimated sales reduction of almost 33-40% according to analysts which was a pretty accurate estimate. The ITC stock opened at 200.7 and closed at 199.85.

The reduction in sales comes in the wake of the coronavirus pandemic which has caused many state government to prohibit smoking and even prohbited sale of cigarettes in public along with making cigarettes as a non-essential commodity.

You can check out the unaudited results by clicking here.

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Jindal Steel and Power (JSP) Q1FY21 Results.

Jindal Steel and Power

Jindal Steel and Power Ltd has reported a consolidated net profit of Rs 268 crore in the first quarter of the financial year 2021, as against a net loss of Rs 87 crore during the same quarter previous year, due to increased volumes and lower raw material prices

The company grew at 5.02% QoQ in terms of revenue but has its Net Profit trimmed by -12.45%, which is not huge considering the global slowdown due to COVID  

Q1 FY21(Rs. Cr)Q4 FY20(Rs. Cr)Q1 FY20(Rs. Cr)QoQ%YoY%
Revenue9,279 8,835.2 9,945.585.02%-6.7%
Net Profit268.00 305.6-87.4-12.45%-12.1%

The company managed to reduce its operating cost and managed to obtain Raw materials for cheap. The operating expense has also been decreasing over the past 1 year.

Decreasing Operating Expenses

 On the day of the result, the market moved sideways due to split opinion and sentiment regarding the stock. Which was later followed by a 3.2% decline at the close which could have been because of reduced profit as compared to last quarter. There is a certain optimism in the market looking at the fundamentals, reducing operating expense and profit.

You can check out the Official Q1FY21 result by clicking here.