Stocks to Watch: Dr Reddy’s Labs, CreditAccess Grameen, Indraprastha Gas and more
Dr Reddy’s Laboratories | The company reported a 36% increase in its net profit at ₹1,307 crore for the quarter ended March 2024. The drug major reported a profit of ₹959 crore in the January-March quarter of the 2022-23 fiscal. Revenue increased to ₹7,083 crore in the period under review from ₹6,297 crore in the fourth quarter of FY23.CreditAccess Grameen | Microfinance lender reported a 33.9% year-on-year rise in net profit at ₹397 crore for the fourth quarter. In the corresponding quarter, CreditAccess Grameen posted a net profit of ₹296.6 crore. Net interest income (NII) jumped 42.3%, coming at ₹881 crore against ₹619.2 crore in the corresponding quarter of FY23.Indraprastha Gas | The company’s net profit jumped 16% on a year-on-year basis to ₹382.8 crore in the January-March quarter. On a sequential or quarter-on-quarter (QoQ) basis as well, India’s largest compressed natural gas (CNG) retailer’s net profit dipped 2.4% from ₹388 crore in the preceding October-December quarter.JSW Energy | The company reported a 22.5% year-on-year jump in net profit at ₹345.3 crore for the fourth quarter that ended March 31, 2024. In the corresponding quarter, it posted a net profit of ₹282 crore. The company’s revenue increased 3.2% to ₹2,755.9 crore against ₹2,670 crore in the corresponding period of the preceding fiscal.Pidilite Industries | Adhesive manufacturer reported a 6.4% year-on-year increase in net profit at ₹304.3 crore for the fourth quarter. In the corresponding quarter, it posted a net profit of ₹285.9 crore. The company’s revenue increased 7.9% to ₹2,901.9 crore versus ₹2,689 crore in the corresponding period of the preceding fiscal.Voltas | Residential air conditioner maker reported a 22.8% year-on-year drop in net profit at ₹110.6 crore for the fourth quarter. In the corresponding quarter, it posted a net profit of ₹143.2 crore. The company’s revenue jumped 42.1% to ₹4,202.9 crore against ₹2,957 crore in the corresponding period of the preceding fiscal.Sonata Software | The company reported a 3% year-on-year drop in net profit at ₹110.4 crore for the fourth quarter that ended March 31, 2024. In the corresponding quarter, it posted a net profit of ₹113.8 crore. The company’s revenue increased 14.53% to ₹2,191.6 crore against ₹1,913.5 crore in the corresponding period of the preceding fiscal.United Breweries | Beer maker reported an eight-fold jump in net profit at ₹81.6 crore for the fourth quarter. In the corresponding quarter, it posted a net profit of ₹9.9 crore. The company’s revenue from operations increased 20.8% to ₹2,133.4 crore as against ₹1,765.9 crore in the corresponding period of the preceding fiscal.Navin Fluorine | Fluorochemicals maker reported a 48.4% year-on-year drop in net profit at ₹70.4 crore for the fourth quarter. In the corresponding quarter, it posted a net profit of ₹136.4 crore. The company’s revenue slipped 13.6% to ₹602 crore against ₹697 crore in the corresponding period of the preceding fiscal.
