Stocks to Watch: L&T, Tata Power, TVS Motor, Gujarat State Petronet and more
L&T | Engineering and construction giant reported a 10.3% year-on-year increase in net profit at ₹4,396 crore for the fourth quarter that ended March 31, 2024. In the corresponding quarter, L&T posted a net profit of ₹3,987 crore. CNBC-TV18 poll had predicted a profit of ₹4,267 crore for the quarter under review.Tata Power | The company reported a 15.19% year-on-year jump in net profit at ₹895 crore for the fourth quarter. In the corresponding quarter, it posted a net profit of ₹777 crore. Tata Power’s revenue increased by 27.2% to ₹15,846.6 crore as against ₹12,453.8 crore in the corresponding period of the preceding fiscal.TVS Motor | The company reported an over 18% jump in net profit to ₹485.4 crore in the January-March quarter of the financial year 2023–24. The automaker reported a net profit of ₹410 crore in Q4FY23. The net profit, however, came in below a CNBC-TV18 poll estimate of ₹540 crore.Gujarat State Petronet | The company reported a 22.2% year-on-year increase in net profit at ₹663.1 crore for the fourth quarter. In the corresponding quarter, it posted a net profit of ₹542.8 crore. The company’s revenue increased 5.9% to ₹4,522.2 crore against ₹4,270.1 crore in the corresponding period of the preceding fiscal.Home First Finance | Affordable housing financier reported a 30.5% year-on-year jump in net profit at ₹83.5 crore for the fourth quarter. In the corresponding quarter, it posted a net profit of ₹64 crore. The company’s revenue increased 37.9% to ₹3,127.6 crore as against ₹2,268.4 crore in the corresponding period of the preceding fiscal.BSE | Leading stock exchange reported a 20.7% year-on-year jump in consolidated net profit at ₹106.9 crore for the fourth quarter. In the corresponding quarter, it posted a net profit of ₹88.6 crore. The company’s revenue surged 110.04% to ₹544.8 crore against ₹259 crore in the corresponding period of the preceding fiscal.Godrej Agrovet | Agri-business company reported a threefold year-on-year jump in net profit at ₹65.5 crore for the fourth quarter. In the corresponding quarter, it posted a net profit of ₹23.5 crore. The company’s revenue increased 1.9% to ₹2,134.3 crore against ₹2,095 crore in the corresponding period of FY23.ESAF SFB | The bank reported a 57.2% year-on-year dip in net profit at ₹43.4 crore for the fourth quarter that ended March 31, 2024. In the corresponding quarter, it posted a net profit of ₹101.4 crore. Net interest income increased 18.4%, coming at ₹590.7 crore against ₹498.9 crore in the corresponding quarter of FY23.Navneet Education | The company said it has signed a definitive agreement with Venturi Partners, marking the divestment of a partial stake in K12 Techno Services Private Ltd for ₹225.2 crore. The agreement sees Navneet Education’s subsidiary, Navneet Learning LLP, parting ways with 5.12% of its stake in K12 Techno Services.
