Why is calculating net profit important

Net profits of manufacturing companies surged by 50.2 percent during 2021-22, the input cost pressures notwithstanding, the Reserve Bank of India said on Friday. Net profit also increased for the information technology (IT) companies, whereas the non-IT services sector continued to record losses at the aggregate level, it said. The data on the performance of the private corporate sector during 2021-22 drawn from abridged financial results of 3,166 listed non-government non-financial (NGNF) companies. Operating profit margins remained healthy for all the three sectors. Net profit margins remained stable for manufacturing and IT companies, whereas it remained in the negative terrain for non-IT services companies. The data further showed that private corporate sales and profitability recorded healthy growth in during 2021-22 as the effects of the Covid-19 pandemic subsided and economic activities recovered, especially in the second half of the year. "Sales of 1,865 listed private … [Read more...] about Manufacturing companies see 50.2% surge in FY22 net profit despite costly raw materials

- A + A KUALA LUMPUR (June 27): Financially troubled Sapura Energy Bhd returned to the black in the first quarter ended April 30, 2022 (1QFY23) with a net profit of RM91.93 million, on the back of foreign exchange gains arising from the appreciation of the US dollar against the ringgit. In the preceding quarter, it had posted its biggest ever net loss of RM6.78 billion. In the same period last year, Sapura Enery had posted a net loss of RM97.08 million. In a Bursa Malaysia filing on Monday (June 27), the oil and gas service provider said its quarterly revenue, however, declined by 39.75% to RM886.08 million against RM1.47 billion in the year-ago corresponding period, due to lower project activities from its engineering and procurement (E&C) segment. Earnings per share for the quarter amounted to 0.58 sen, from losses per share of 0.61 sen. On a quarterly basis, revenue more than doubled from RM426.60 million in 4QFY22. Sapura Energy said that it continues … [Read more...] about Sapura Energy returns to black in 1Q with net profit of RM91.93 mil on forex gains

Trade Watchlist Portfolio Message Set Alert live bse live nse live Volume Todays L/H More × State Bank of India (SBI) is likely to report strong performance for the quarter ended March 2022 when it will declare its results on May 11. Experts expect India’s largest banker to report a robust on-year growth of 50 percent for the quarter and expect its net interest income (NII) to increase 16 percent over the same period last year. According to a poll of four brokerages conducted by Moneycontrol , SBI is likely to post a net profit of Rs 10,075 crore for the quarter ended March 2022 on a NII of Rs 31,360 crore. The bank had registered a PAT of Rs 6,451 crore during the corresponding period last year with NII coming in at Rs 27,067 crore. The profit during the October – December period stood at Rs 8,432 crore when the bank had registered a NII of Rs 30,687 crore. Close … [Read more...] about State Bank of India Q4 Results Preview | Profit may surge 50% on healthy loan growth, asset quality

- A + A KUALA LUMPUR (June 27): Costlier crude oil along with a stronger US dollar will erode Spritzer's Bhd profit margin, the bottled water producer admitted. "Costlier oil will translate into costlier PET resin, which is the main raw material used in making the [plastic] bottles. "PET resin is normally quoted in US dollar so a stronger US dollar would mean we will have to pay more for our PET resin," a company representative said in a brief email reply to theedgemarkets.com recently, when asked about the impact of surging oil prices on its manufacturing costs. According to the US-based PET Resin Association, PET — which is short for polyethylene terephthalate, the chemical name for polyester — is a clear, strong, and lightweight plastic made from crude oil and ethane extracted from natural gas that is widely used for packaging food and beverages, especially convenience-sized soft drinks, juices and water. Following Russia's incursion into Ukraine, oil prices … [Read more...] about Spritzer admits costlier crude oil, stronger US dollar will erode its profit margin

This article first appeared in The Edge Malaysia Weekly, on June 20, 2022 - June 26, 2022. - A + A LAST week, CTOS Digital Bhd made a bold move to raise its stake in RAM Holdings Bhd (RAM), in which it already owns a 19.225% stake. This is the third acquisition that CTOS has undertaken within a year. CTOS, which bought into RAM shortly after it was listed in July last year, launched a general offer last week to buy out the remaining shares that it does not own in the credit rating agency (CRA) soon after it got the green light from the Securities Commission Malaysia (SC) to own more than 51%. CTOS has so far spent the bulk of the RM173.8 million raised from a private placement in March on mergers and acquisitions (M&A). RAM will be the first local CRA to have a controlling shareholder upon the completion of the takeover offer. Dollars and cents aside, the takeover bid has prompted some quarters to question whether the independence of RAM’s rating … [Read more...] about Making sense of CTOS’ venture into RAM

- A + A KUALA LUMPUR (June 27): Here is a brief look at some corporate announcements and news flow on Monday (June 27) which include Dagang NeXchange Bhd, MyNews Holdings Bhd, AirAsia X Bhd, Spritzer Bhd, Sapura Energy Bhd, Pertama Digital Bhd, Southern Cable Group Bhd, Tenaga Nasional Bhd and Reach Energy Bhd. Dagang NeXchange Bhd (DNeX) signed a memorandum of understanding with Saudi Arabia-based Ajlan & Bros Holding Group (Abilitii) to explore business synergy between the two companies. DNeX said the companies will look into business collaboration in technology, software products and platforms for facilitating trade, oil and gas production and trade, software development, system integration and consultation services. MyNews Holdings Bhd posted its ninth consecutive quarter in the red, with a net loss of RM10.22 million for the second quarter ended April 30, 2022, from RM10.32 million a year ago. The results came amid higher revenue, offset by higher cost … [Read more...] about DNeX, MyNews, AAX, Spritzer, Sapura Energy, Pertama Digital, Southern Cable, TNB, Reach Energy

This article first appeared in The Edge Financial Daily, on April 21, 2020 . - A + A Rubberex Corp (M) Bhd (+ve) Rubberex shares closed up five sen or 4.63% at RM1.13. Some 27.47 million shares were traded, over 16 times the counter’s 200-day average volume of 1.7 million shares. For the fourth quarter ended Dec 31, 2019, Rubberex posted a net profit of RM3.88 million, up 5% from RM3.69 million a year ago, due to favourable glove selling prices and higher profit margins. Quarterly revenue jumped 38% to RM54.64 million from RM39.52 million. For the full financial year 2019, its net profit grew by 31% to RM11.35 million from RM8.69 million as revenue increased 9% to RM222.97 million from RM205.24 million. Rubberex manufactures household and general-purpose gloves, industrial gloves and nitrile disposable gloves for exports. It has a production facility in Bercham, Ipoh. … [Read more...] about Stock With Momentum: Rubberex Corp (M)

This article first appeared in The Edge Financial Daily, on April 16, 2020 . - A + A Solid Automotive Bhd (-ve) TRADING of shares in Solid Automotive Bhd (fundamental: 0.75/3, valuation: 0.9/3) triggered our momentum algorithm yesterday for the seventh time this year. The last time the counter triggered our momentum algorithm was last Friday. Solid Automotive shares closed 6.56% or two sen lower at 28.5 sen. Some 6.06 million shares were traded, more than four times the counter’s 200-day average trading volume of 1.36 million shares. Solid Automotive’s net profit for the second quarter ended Oct 31, 2019 fell to RM112,000 from RM715,000 a year earlier, due to higher operating expenses, though revenue doubled to RM72.03 million from RM35.86 million. For the cumulative six months ended Oct 31, 2019, the group’s net profit rose 28% to RM1.09 million from RM851,000, while revenue more than doubled to RM137.08 million from RM65.36 million. Solid … [Read more...] about Stock With Momentum: Solid Automotive

This article first appeared in The Edge Financial Daily, on April 21, 2020 . - A + A SOLID Automotive Bhd (-ve) Solid Automotive shares closed unchanged at 31.5 sen. Some 6.17 million shares were traded, over four times the counter’s 200-day average volume of 1.45 million shares. Solid Automotive’s net profit for the second quarter ended Oct 31, 2019 fell to RM112,000, from RM715,000 a year earlier, no thanks to higher operating expenses, though revenue doubled to RM72.03 million from RM35.86 million. For the cumulative six months ended Oct 31, 2019, the group’s net profit rose 28% to RM1.09 million from RM851,000, while revenue more than doubled to RM137.08 million from RM65.36 million. Solid Automotive is involved in the trading of automotive electrical parts and components. It is the sole distributor of automotive electrical parts under the Lucas brand. … [Read more...] about Stock With Momentum: SOLID Automotive

This article first appeared in The Edge Financial Daily, on April 1, 2020 . - A + A Silver Ridge Holdings Bhd (-ve) TRADING of shares in Silver Ridge Holdings Bhd (fundamental: 0.95/3, valuation: 0/3) triggered our momentum algorithm yesterday for the second time this year. The counter closed unchanged at 42 sen, with 4.5 million shares traded, over three times its 200-day average volume of 1.23 million shares. Year-to-date, the counter has risen some 45% from 29 sen on Dec 31 last year. The group is principally involved in the provision of IT products and services. It posted a turnaround for its second quarter ended Dec 31, 2019, with a net profit of RM46,000 compared to a net loss of RM1.27 million a year ago, on the back of downsizing and cost reduction measures implemented. Revenue, however, fell 47% to RM3 million from RM5.63 million due to the lower recognition value of certain completed projects in hand, and no new substantial contracts … [Read more...] about Stock With Momentum: Silver Ridge Holdings