Indian companies have reported varied financial performances for the third quarter of fiscal year 2025, shedding light on both strong growth and areas of concern amid changing economic conditions.
Arvind SmartSpaces Ltd. led the pack with remarkable financial results. The company posted the highest net profit of ₹50 crore for Q3 FY25, marking a staggering year-on-year growth of 331% compared to ₹12 crore registered during the same period last fiscal year. Revenue from operations soared to ₹210 crore, reflecting a 149% increase from ₹84 crore reported in Q3 FY24. This surge was attributed to effective project execution, demonstrating the company's operational efficiency. Adjusted EBITDA also jumped by 188% YoY to ₹60 crore from ₹21 crore, highlighting the improvement in profitability.
Despite these impressive figures, Arvind SmartSpaces witnessed a decline in bookings, which fell to ₹224 crore from ₹280 crore last year. On the upside, collections rose by 18% YoY to ₹229 crore, up from ₹194 crore. The net debt of the company slightly increased to ₹196 crore by December 31, 2024, compared to ₹195 crore on September 30, 2024, but its net debt-to-equity ratio improved from 0.37 to 0.34, reflecting enhanced financial health. The company is also making strategic moves by entering the Mumbai Metropolitan Region with a massive ₹1,500 crore township project and signing a deal for one of Gujarat's largest industrial parks.
GAIL (India) Ltd., the largest gas distributor in the country, reported equally strong results, with standalone net profit climbing to ₹2,842.62 crore—a significant 18% increase driven by softening liquefied natural gas prices. The company's revenue from operations reached ₹34,253.52 crore, showing 8% growth compared with the previous quarter. Its EBITDA surged to ₹3,822 crore, with EBITDA margin improving by 180 basis points to 11%, indicating effective cost management and pricing strategies. GAIL's board of directors also took note of this steady growth, declaring an interim dividend of ₹5.50 per share, reaffirming investor confidence.
On the contrary, Raymond Ltd. reported a decline of 61% YoY in net profit, achieving ₹72.3 crore compared to ₹185.4 crore last year. This sharp downturn was attributed to the demerger of its Lifestyle business, which considerably influenced the base figures. Nonetheless, revenue from operations saw growth of 40.6% YoY to ₹953.9 crore, driven largely by performance within the real estate segment. The company's EBITDA rose by 75.3% to ₹138 crore, and the EBITDA margin improved to 14.5%. Despite the challenges faced, such as weak export demand and geopolitical pressures affecting the auto components sector, Raymond maintains a strong cash position with ₹696 crore available for future endeavors.
Kalyan Jewellers also showcased strong results for the quarter, with net profit reaching ₹218.80 crore—a 21.20% YoY increase from ₹180.60 crore last year. Revenue surged 39.50% to ₹7,286.80 crore compared with ₹5,223 crore for Q3 FY24, primarily due to heightened demand during the festive and wedding seasons. Notably, the company's standalone revenue from India jumped 42%, driven by strong sales of gold and studded jewelry, alongside 24% growth in same-store sales. While EBITDA margins have slightly declined to 6%, the overall performance reflects solid growth momentum.
Finally, Tata Consumer Products reported results consistent with market expectations. Revenue increased by 17% YoY to ₹4,443 crore, though net profit remained almost flat at ₹279 crore. The company's EBITDA slipped 1.4% year-on-year to ₹564 crore, which was aligned with market predictions. Issues surrounding increased expenses during the quarter impacted profit margins, even as the beverage segment experienced notable growth, with the India beverage business showing 9% growth. This was particularly significant for the coffee division, which registered a remarkable 28% revenue increase.
These varied financial results from major Indian firms reflect the dynamic business environment as of the end of January 2025. While some firms like Arvind SmartSpaces and Kalyan Jewellers witnessed substantial growth, others faced hurdles, indicating mixed prospects for the upcoming quarters. Investors and stakeholders will need to closely monitor these developments to navigate the changing market conditions effectively.