For Q4FY25, Net Interest Income (NII) came in at INR 6,101 Mn., up 8.5% YoY (-0.6% QoQ), below our estimates driven by higher-than-expected interest expenses. The Pre-Provision Operating Profit (PPOP) stood at INR 2,384 Mn, reflecting a 41.8% YoY decline (-36.1% QoQ) driven by sharp increase in employee and other operating expenses.

Supreme Petrochem’s Q4FY25 revenue stood at INR 15,390 Mn., down 1.5% YoY (+9.5% QoQ), was below our estimates led by weak volume; however, EBITDA came in at INR 1,446 Mn., down 17.4% YoY (+45.7% QoQ). Strong growth in EBITDA sequentially was driven by margin improvement of 234bps QoQ. Adj. PAT stood at INR 1,069 Mn., down 18.7% YoY (+49.8% QoQ), was above our estimates led by improved operating margins and higher other income.

UltraTech Cement’s Q4FY25 earnings was a beat on all fronts. Revenue came in at INR 230,633 Mn., up 13.0% YoY (+29.7% QoQ), driven by higher volume growth, which was 15.2% above our estimates.

Strong volume-driven revenue growth, as realisation stays soft 3% YoY due to aggressive push in key markets

Laurus Labs’ revenue for Q4FY25 stood at INR 17,203 Mn., up 19.5% YoY (+21.6% QoQ), which was above our estimates led by strong growth in Custom Synthesis segment.
Adj. EBITDA came in at INR 4,206 Mn., up 74.2% YoY (+47.5% QoQ), led by margin improvement of 768bps YoY (+430 bps QoQ) to 24.4%.

Axis Bank’s Q4FY25 Net Interest Income stood at INR 1,38,105 Mn., a growth of 5.5% YoY (+1.5% QoQ). The Bank’s PPOP (Pre-Provisioning Operating Profit) for the quarter came in at INR 1,07,524 Mn., a growth of 2.1% YoY (+2.1% QoQ) led by operating efficiencies, while the Net profit declined 0.2% YoY (+12.9% QoQ) to INR 71,175 Mn.

Q4FY25 revenue grew 11% YoY as a strong volume of 14% was offset by 3% fall in realisation, on weak pricing in key operating regions