BPCL | State-owned company reported a 24.3% quarter-on-quarter increase in net profit at ₹4,789.57 crore for the fourth quarter. For the third quarter, it posted a net profit of ₹3,397.3 crore. CNBC-TV18 poll had predicted a profit of ₹5,460 crore for the quarter under review.Solara Active Pharma | The company approved a rights issue to raise ₹449.95 crore. The rights shares are priced at ₹375 per equity share, which includes a premium of ₹365 per equity share. The shareholders will be entitled to receive one equity share for every three equity shares held by them in the company.Abbott | Drug major reported a 24.1% year-on-year jump in net profit at ₹287.1 crore for the fourth quarter. In the corresponding quarter, it posted a net profit of ₹231.4 crore. The company’s revenue increased 7.1% to ₹1,438.6 crore against ₹1,343.1 crore in the corresponding period of the preceding fiscal.Mahanagar Gas | State-run company reported a 16.5% quarter-on-quarter dip in net profit at ₹265 crore for the fourth quarter that ended March 31, 2024. In the third quarter, it posted a net profit of ₹317 crore. CNBC-TV18 poll had predicted a profit of ₹297 crore for the quarter under review.Suryoday SFB | The bank reported a 56.3% year-on-year jump in net profit at ₹60.8 crore for the fourth quarter. In the corresponding quarter, the bank posted a net profit of ₹38.9 crore. Net interest income increased 28.9%, coming at ₹270.8 crore against ₹210.1 crore in the corresponding quarter of FY23.VST Tillers Tractors | The company reported a 13.4% year-on-year drop in net profit at ₹34.8 crore for the fourth quarter. In the corresponding quarter, it posted a net profit of ₹40.2 crore. The company’s revenue dropped 15.3% to ₹273.4 crore against ₹322.6 crore in the corresponding period of the preceding fiscal.Brigade Enterprises | Realty firm said it has inked an agreement for a prime land parcel located on Old Madras Road, Bengaluru. Spread across 4.6 acres, the total development potential of the residential project will be around 0.69 million square feet with a gross development value of ₹660 crore.Paytm | Fintech firm One97 Communications denied recent media reports suggesting issues with its lending business and termed it “factually incorrect.” The company said it acts as a distributor of loans and does not provide a First Loss Default Guarantee (FLDG) or other loan guarantees to lending partners.
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.
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.
GCPL | Fast-moving consumer goods major reported a net loss of ₹1,893.2 crore for the fourth quarter that ended March 31, 2024. In the corresponding quarter, GCPL posted a net profit of ₹452 crore. The company’s revenue increased 5.8% to ₹3,385.6 crore against ₹3,200 crore in the corresponding period of the preceding fiscal.Hindalco | Novelis’ profit increased by 6% to $166 million compared to the year-ago period. However, the profit for the entire year has declined by 9%. The company’s income has declined by 7% to $4.1 billion due to the decline in the average price of aluminium.Gujarat Gas | State-owned company reported an 11% year-on-year increase in net profit at ₹409.5 crore for the fourth quarter that ended March 31, 2024, due to a reduction in spot gas prices and an increase in volumes. In the corresponding quarter, Gujarat Gas Company posted a net profit of ₹369.22 crore.Lupin | Drug maker reported a 52.4% year-on-year jump in net profit at ₹359.4 crore for the fourth quarter that ended March 31, 2024. In the corresponding quarter, Lupin posted a net profit of ₹235.9 crore. The company’s revenue increased 12% to ₹4,960.7 crore as against ₹4,430 crore in the corresponding period of the preceding fiscal.DCM Shriram | Diversified agri firm reported a 36.9% year-on-year drop in net profit at ₹117.8 crore for the fourth quarter. In the corresponding quarter, DCM Shriram posted a net profit of ₹186.7 crore. The company’s revenue tanked 11.8% to ₹2,399.3 crore as against ₹2,720 crore in the corresponding period of the preceding fiscal.Muthoot Microfin | The microfinance arm of the Muthoot Pappachan Group reported a 27% year-on-year increase in net profit at ₹119.76 crore for the fourth quarter that ended March 31, 2024. In the corresponding quarter, Muthoot Microfin posted a net profit of ₹94.56 crore.HPCL | The company will hold a board meeting on May 9, 2024, to consider and approve the issue of bonus shares to the company’s shareholders. The record date for the bonus issue, if approved, is yet to be determined. This will be the third instance that HPCL will be issuing bonus shares to its shareholders.Tamilnad Mercantile Bank | Private sector lender announced a revision in its Marginal Cost of Funds Based Lending Rates (MCLR) effective from May 7, 2024. The adjustment entails an increase ranging from 10 to 15 basis points (bps) across various tenures, the lender said.
Kotak Mahindra Bank: Net Interest Income of ₹6,909 crore, higher than poll estimate of ₹6,670.2 crore. Net profit of ₹4,133.3 crore also higher than the CNBC-TV18 poll of ₹3,376.9 crore. AIF provisions worth ₹157 crore released during the quarter. Write-offs of ₹1,455 crore in retail, unsecured book aids Gross NPA. Favourable tax credit of ₹200 crore during the quarter. Gross NPA at 1.39% from 1.73% in December, while Net NPA remains flat at 0.34%. Net Interest Margin expands sequentially compared to expectations of a fall.Britannia: Net profit of ₹536.6 crore, compared to a CNBC-TV18 poll of ₹541 crore. Revenue of ₹4,069.4 crore in-line with expectations. EBITDA also meets expectations at ₹785.5 crore, while EBITDA margin at 19.4%, fell 50 basis points year-on-year but was 20 basis points higher than estimates.
Titan: Net profit of ₹786 crore, below the CNBC-TV18 poll of ₹830 crore. Revenue of ₹11,257 crore, meets estimates of ₹11,300 crore. EBITDA of ₹1,109 crore, below estimates of ₹1,250 crore. EBITDA margin also misses expectations of 11.1%, coming in at 9.9% for the quarter. Jewellery business margin at 12.3%, watches business margin at 10.2%, eyewear margin at 11.7%. While jewellery and watches margin meets estimates, eyewear margins surpassed expectations. Also announces dividend of ₹11 per share.Avenue Supermarts: Net profit up 22.5% to ₹563.3 crore. Revenue up 20.1% to ₹12,726.6 crore. EBITDA up 22.3% to ₹944 crore, while EBITDA margin expands by 10 basis points to 7.4% from 7.3%.M&M Financial Services: Net Interest Income up 15.5% to ₹1,918.9 crore. Net profit down 9.5% to ₹619 crore. Provisions at ₹341.5 crore from ₹328.4 crore last quarter. Gross NPA at 3.4% from 3.97% in December. Gross NPA of housing subsidiary at 9% from 11.55% in December. Net recoverable balance post fraud at ₹135.9 crore. Provisions have been made in this regard.
Zen Technologies: Won orders worth ₹1,358 crore during the financial year. Order book as of March 31, 2024 at over ₹1,400 crore. Poised to sustain growth in FY25, aiming to surpass ₹900 crore in sales. Aim to launch a range of innovative products in the coming days and months for both Indian armed forces and international clients.Tata Technologies: Constant currency revenue growth of 0.3% sequentially. Services revenue down 1% sequentially. Anticipated ramp down within VinFast led to drop in services revenue. Ex-Vinfast, Services revenue grew by 10.4% sequentially and 31.7% year-on-year. Expect to see further run-off in VinFast in Q1. Net profit down 27.4% due to higher taxes and lower other income.Kansai Nerolac Paints: Good performance from the decorative segment. Revenue up 2.1% to ₹1,769 crore. EBITDA margin expands by 40 basis points to 10.1%. Decorative paints saw double-digit volume growth. Industrial coatings moderated over the previous quarter. Forecast of a good monsoon should augur well for the paint industry. Total resins capacity at two plants to increase from 907 MT per month to 1,757 MT per month.CDSL: Total income up 86% from last year to ₹267 crore. Net profit up 63% year-on-year to ₹129 crorre. Board recommended final dividend of ₹19 per share and a special dividend of ₹3 per share. 11.56 crore demat accounts in March 2024.]IDBI Bank: Net Interest Income up 12.4% to ₹3,687.9 crore, net profit up 43.7% from last year to ₹1,628.5 crore. Provisions down 88.4% from last year to ₹113.8 crore. Gross NPA at 4.53% from 4.69%, while Net NPA at 0.34%. Slippages triple to ₹1,852 crore from ₹614 crore last year, while write-offs rise to ₹433 crore from ₹316 crore last year.MRPL: Net profit down 40.5% to ₹1,138.5 crore. Revenue flat at ₹25,328.7 crore. EBITDA down 33.3% at ₹2,329.7 crore. EBITDA margin down 460 basis points to 9.2%. GR at $11.35 per barrel from $15.12 per barrel.Aurobindo Pharma: USFDA issues seven observations for Unit-II of the formulations manufacturing facility in Bhiwadi in Rajasthan. The facility was inspected between April 25 – May 3, 2024. The company said that the observations are procedural in nature.Adani Ports: Group expresses interest to acquire and develop Bataan Port in the Philippines.Ujjivan Small Finance Bank: Sanjeev Nautiyal appointed as MD & CEO for a period of three years starting July 1. He was earlier Deputy MD Financial Inclusion and Micro Markets of SBI and MD & CEO of SBI Life Insurance.Zydus Lifesciences: US arm Sentynl Therapeutics acquires worldwide proprietary rights to Zokinvy at a net base price of $45 million from US-based Eiger Biopharmaeuticals. Zokinvy is approved for the treatment of a collection of ultra-rare, fatal, genetic premature ageing diseases.
Bajaj Finance | Non-banking financial company said the Reserve Bank of India has lifted the restrictions imposed on the sanction and disbursal of new loans under the ‘eCOM’ and online/digital Insta EMI card segments. This decision comes after the company took remedial actions to address concerns raised by the regulatory authority.YES Bank | Carlyle Group is likely to offload a significant chunk of its stake worth ₹1,500 crore in private lender through a block deal scheduled for May 3. Carlyle, holding an 8.74% stake in YES Bank post-warrant conversion, is reportedly planning the stake sale through an entity named CA BASQUE INVESTMENTS.Coal India | Coal behemoth reported a 26.2% rise in consolidated net profit to Rs 8,682.20 crore for the March quarter. The company’s consolidated net profit stood at Rs 6,875.07 crore in the year-ago period. Its consolidated income in the January-March period declined to Rs 39,654.50 crore from Rs 40,371.51 crore a year ago.Coforge | IT solutions company said it will acquire up to 54% stake in Cigniti Technologies at ₹1,415 per share. Also, it reported a 94.86% year-on-year jump in net profit at ₹229.2 crore for the fourth quarter that ended March 31, 2024. Also, the company’s board declared an interim dividend of Rs 19 per equity share.Ajanta Pharma | The company on Thursday said its board has approved its fourth buyback of equity shares since 2020 on Thursday, along with its March quarter results. The drug-maker will repurchase up to 10.28 lakh equity shares or 0.82% of the total outstanding shares of the company.Ceat | Tyre maker reported a 23% decline in its consolidated net profit to ₹102 crore for the fourth quarter ended March 2024. The company had posted a net profit of ₹132 crore in the January-March quarter of 2022-23. Its revenue from operations rose to ₹2,992 crore in the period under review from ₹2,875 crore in Q4 of FY23.KEI Industries | The company reported a profit of ₹168.5 crore during the quarter ended March 2024, up 22.1% from ₹138 crore in the year-ago period. Revenue rose 18.8% to ₹2,319.2 crore from ₹1,952.9 crore in the preceding year. The EBITDA stood at ₹244.5 crore, a 21% increase over ₹202.1 crore in the fourth quarter of FY23.IndiGo | India’s largest airline announced a special one-time bonus for employees across the board ahead of its Q4 results. The bonus will be one and a half months’ basic salary and will be disbursed along with the May salaries. This special bonus will be additional to the annual bonus and increment that employees will receive later this year.
Godrej Group Stocks | Family settlement agreement arrived at. Family members have also entered into a brand and non-compete agreement. Adi Godrej and his brother Nadir Godrej have retained control over Godrej Industries and its listed entities, while cousins Jamshyd and Smita will have control of the unlisted Godrej & Boyce along with its affiliates and a substantial land bank, including a prime property in Mumbai.Kotak Mahindra Bank | KVS Manian resigns as Joint Managing Director of Kotak Mahindra Bank with immediate effect, is likely headed to Federal Bank.Jindal Stainless | Announces strategic investments worth ₹5,400 crore in a three-pronged investment strategy. It will be a 49% partner in a Joint Venture for a 1.2 MTPA stainless steel melt shop in Indonesia. It will also expand its downstream capacity in Odisha’s Jajpur and acquire a 54% stake in Chromeni Steels in Mundra, Gujarat. This will increase the company’s melting capacity by over 40% to 4.2 MTPA.PB Fintech | Board approves proposal for divestment of 29.3% stake of Visit Health, held by Docprime Technologies Pvt. Ltd., a wholly-owned subsidiary for ₹76 crore. The company will continue to have a 8.2% stake in Visit Health. The board has also approved divestment of entire 100% shareholding and 82,759 Compulsorily Convertible Preference Shares of Visit Health held by Docprime for ₹2 crore. The company will acquire shares of Genesis Group Ltd., which holds a 49% stake in Genesis Insurance Brokers through a wholly-owned subsidiary for an aggregate consideration of ₹2 crore.Havells India | Net profit of ₹448.9 crore compared to CNBC-TV18 poll of ₹374 crore. Revenue up 12.1% to ₹5,434 crore. EBITDA margin at 11.7%, higher than poll of 10.3% and 10.9% year-on-year. Switchgear business saw decent growth despite higher base. Cables and wires maintained their growth momentum with continued infrastructure-led demand. ECD growth driven by summer-led demand. Lloyd progressing on journey towards growth and profitability.Indus Towers | Net profit up 32.5% to ₹1,853.1 crore. Revenue up 6.5% to ₹7,193.2 crore. EBITDA margin at 57% from 51%. The company said that it is in discussion with a “large customer” (Vodafone Idea) for revised payment plan with regards to outstanding dues. Receivables related to Vodafone Idea currently at ₹5,585.3 crore. Vodafone revenue recognised as monthly payment being made since January 2023.Sona BLW | Highest ever revenue, EBITDA, profit and revenue share from Battery Electric Vehicles in a quarter. Revenue up 19% from last year to ₹885 crore. Revenue share from Battery Electric Vehicles at 32%, while BEV revenue growth of 34% year-on-year. EVs programs contribute 79% to the net order book of ₹22,600 crore.Ambuja Cements | Results weak but volume growth better than expected. Realisations weak and part of the clinker shutdown hurt results. Power and fuel costs declined but other expenses remain elevated. EBITDA at ₹798 crore compared to CNBC-TV18 poll of ₹910 crore. Margin of 16.7% in-line with estimates. Volumes up 17.3% to 9.5 MT from 8.1 MT. Volumes higher than expectations of 9.25 MT.IndiaMART Intermesh | Revenue up 17.1% to ₹314.7 crore. Revenue growth momentum continues to slow from 20+% in the last three quarters. EBITDA margin at 28.1% from 24.6% last year. Paying subscriber addition remains around the 2,000. Declares final dividend of ₹20 per share.Wipro | Wins multi-million dollar deal to transform Nokia’s Digital Workplace Services. It will build bespoke AI-powered solution providing next-generation digital workplace support in a multi-year contract.Coal India | April Production up 7.3% to 61.8 MT compared to 57.6 MT last year. Offtake up 3.2% to 64.3 MT from 62.3 MT last year.Maruti Suzuki India | Third consecutive fall in sales month-on-month. Sales growth of 5% in April. Domestic growth slows to 1.3%, while exports recover.Eicher Motors | Weakness in CV sales continues, Royal Enfield sales below estimates of 84,000 at 81,870 units, up 12% year-on-year.TVS Motor | Strong wholesale numbers. Total sales growth of 25% to 3.83 lakh units. EV sales up 16% year-on-year.Tata Motors | PV sales under pressure, while CV sales are strong. Passenger Vehicles see low single digit growth of 2%. Electric Vehicle sales down 2% year-on-year. Total sales up 11% to 77,521 units.Escorts Kubota | Total tractor sales down 0.7% to 7,515 units. Domestic tractor sales down 1.2% to 7,168 units.
Nestle India | The company is testing a zero-sugar variant for infant food in the country. Sharing this during an exclusive interaction with CNBC-TV18, chairman and MD Suresh Narayanan emphasised the company is compliant with the law of the land and has provided samples to the Food Safety and Standards Authority of India (FSSAI).Tata Chemicals | The company reported a consolidated net loss of ₹850 crore in the quarter ended March 31, compared to a profit of ₹709 crore. The loss is its first quarterly loss in nine years owing to a one-time write-down incurred in its UK operations along with lower prices and demand for soda ash.Spandana Sphoorty | Microfinance lender reported a 5.2% year-on-year (YoY) increase in net profit at ₹122.2 crore for the fourth quarter that ended March 31, 2024. In the corresponding quarter, Spandana Sphoorty Financial posted a net profit of ₹116.2 crore.Poonawalla Fincorp | Non-bank lender reported an 83.6% year-on-year jump in net profit at ₹331.7 crore for the fourth quarter that ended March 31, 2024. In the corresponding quarter, Poonawalla Fincorp posted a net profit of ₹180.7 crore, the company said in a regulatory filing.Jana Small Finance Bank | Bengaluru-based lender reported a 297.5% year-on-year rise in net profit at ₹321.7 crore for the fourth quarter that ended March 31, 2024. In the corresponding quarter, Jana Small Finance Bank posted a net profit of ₹81 crore, the lender said in a regulatory filing.KEC International | Engineering firm said it has secured new orders totalling ₹1,036 crore across its diverse business verticals. The Transmission & Distribution (T&D) segment secured orders for T&D projects in the Middle East and Americas regions.RVNL | The company said it has received a letter of acceptance from Southern Railway for the Redevelopment of Thiruvananthapuram Central Railway Station on EPC mode. The project cost is ₹439.95 crore. RVNL has a 49% share in the JV, while partner Kerala Rail Development Corporation will have a 51% share.Gillette | Shaving products maker reported a 3.5% year-on-year dip in net profit at ₹99.1 crore for the fourth quarter that ended March 31, 2024. In the corresponding quarter, Gillette posted a net profit of ₹102.7 crore, the company said in a regulatory filing.Shoppers Stop | Retail chain reported a 62.3% year-on-year jump in net profit at ₹23.2 crore for the fourth quarter that ended March 31, 2024. In the corresponding quarter, Shoppers Stop posted a net profit of ₹14.3 crore, the company said in a regulatory filing.
ICICI Bank | Net profit at ₹10,757.5 crore compared to a CNBC-TV18 poll of ₹10,323.3 crore. Net Interest Income of ₹19,092.8 crore is also higher than the poll estimate of ₹18,982.3 crore. Gross NPA at 2.16% from 2.3% in December. Net NPA at 0.42% from 0.44% last year. Slippages at ₹5,139 crore from ₹5,714 crore sequentially. Net Interest Margin flat quarter-on-quarter but down 50 basis points year-on-year. Management said that there are ongoing discussions with the RBI with regards to IT infra and they get feedback from time-to-time. The management also expects NIMs to remain rangebound till there is a change in repo rates.Maruti Suzuki | Net profit at ₹3,877.8 crore, lower than the poll of ₹4,104 crore. Margin misses estimates by 120 basis points to 12.2%. Year-on-year, margin improved by 170 basis points. Also declared a dividend of ₹125 per share. Profit growth of 47.8% from last year but kept in check due to higher tax expenses.HCLTech | FY25 revenue growth guidance seen at 3-5% year-on-year, lower than CNBC-TV18’s poll of 5% – 7% growth. Constant currency revenue growth of 0.3% versus 6% in December and lower than poll of 0.4%. EBIT margin of 17.6% also lower than estimate of 18.3%. Management said that the growth guidance issued by the company is back-ended. Subdued guidance due to one large project moving offshore which will impact Q1 performance and an additional headwind of 80 basis points in Q2 due to Statestreet BPO JV exit.IDFC First Bank | Aiming for 1.4% to 1.5% RoA in the next 2-3 years. Q1 profit to be flat sequentially, will improve post that. Q4 should be the best profitable quarter of FY25, according to the management. FY25 loan growth seen between 22% and 23%, while deposit growth seen between 28% and 30%. Credit costs will be upfronted in H1FY25. Net profit and Net Interest Income in the fourth quarter were slightly lower than the CNBC-TV18 poll. Gross NPA at 1.88% from 2.04% last quarter, Net NPA at 0.6% from 0.68% in December.Yes Bank | Tax write-back of ₹20.3 crore, first in three years. Lower overall provisions despite sequential rise in slippages. Write-offs at a 12-quarter high. Annualised credit cost is also at a four-quarter high. NIMs at 2.4% is a nine-quarter low. Gross NPA at 1.7% from 2% in December. Net NPA at 0.6% from 0.9% in December.RBL Bank | Operating profit growth year-on-year is the highest in 21 quarters. Gross NPA and Net NPA is the lowest in 13 quarters. Credit-deposit ratio is the lowest in six quarters. RoA and RoE are the highest in 19 quarters. Net Interest Income met expectations, while net profit was marginally higher. Slippages at ₹680 crore from ₹666 crore. Write-offs at ₹721 crore from ₹356 crore.L&T Finance | Net Interest Income of ₹1,909 crore below Equirus estimates of ₹1,955.2 crore. Net profit of ₹554 crore also below estimates of ₹661.6 crore. Disbursements up 24.8% year-on-year and 3.4% sequentially to ₹15,366 crore. AUM growth of 5.7% from last year to ₹85,564 crore. Gross NPA at 2.84% from 2.95%, Net NPA at 0.62% from 0.64%.Apollo Hospitals | Apollo HealthCo to raise ₹2,475 crore or $300 million from Private Equity Firm Advent. To also merge Keimed, promoter-owned pharma wholesale distribution business over the next 24-30 months. The merger will be EPS accretive from year 1. Deal will involve Keimed buying out multiple JV partners. Growth capital for Apollo HealthCo worth ₹860 crore. Debt worth ₹890 crore out of ₹1,290 crore will also be retired. Aspire to have ₹25,000 crore in revenue and 7-8% margin in three years.SBI Cards & Payment Services | Revolver rate improves for the first time in two years. Credit card business momentum has been weak with corporate spends declining 55% sequentially. Net Interest Margin at the lowest in four years. Annualised credit cost remains elevated at a nine-quarter high of 7.6%. Cards receivables at ₹50,846 crore, up 25% year-on-year. Gross NPA at 2.76% from 2.64%, while Net NPA at 0.99% from 0.96%.Ajanta Pharma | To consider buyback of equity shares at its board meet on May 2.IRCON | Gets order worth ₹1,198.09 crore from East Coast Railway.IREDA | Gets “Navratna” status from the Department of Public Enterprises.
Bajaj Finance | The non-banking finance company reported a 21% rise in consolidated net profit to ₹3,825 crore for the March quarter. It had registered a net profit of ₹3,158 crore in the same period a year ago. Total income on a consolidated basis during the January-March period of 2023-24 rose to ₹14,932 crore.IndusInd Bank | Private sector lender on Thursday reported a 15% growth in consolidated net profit to ₹2,349.15 crore in the March quarter, driven by core income growth. The bank’s net profit for the entire FY24 increased 21% to ₹8,977 crore from ₹7,443 crore.Tech Mahindra | IT services company reported a 41% fall in its consolidated net profit for the March quarter to ₹661 crore. Tech Mahindra’s consolidated net profit plunged almost 41% to ₹661 crore for the quarter ended March 2024. For Q4 FY24, the revenue dropped by 6.2% year-on-year to Rs 12,871 crore.L&T Technology Services | The company reported a marginal 0.2% growth in net profit for the March quarter at ₹340 crore. The engineering services company’s net profit for FY24 grew 7.6% to ₹1,303.7 crore. In the reporting quarter, its revenue grew 7% to ₹2,537.5 crore, while it was about 5% higher when compared to the quarter-ago period.IndiGo | India’s leading airline has ventured into the wide-body aircraft space with its first order of 30 Airbus A350-900 aircraft. These state-of-the-art A350s will be powered by Rolls Royce’s Trent XWB engines, known for their efficiency and reliability.Tata Steel | Tata Steel UK on Thursday confirmed its decision to proceed with the closure of two old blast furnaces as part of a GBP 1.25-billion investment to transition to a state-of-the-art Electric Arc Furnace at its Port Talbot steelworks in south Wales.Schaeffler | Industrial and automotive parts maker reported a 25.3% year-on-year fall in net profit at ₹219.7 crore for the first quarter. In the corresponding quarter, Schaeffler posted a net profit of ₹294.1 crore. The company’s revenue increased 10.6% to ₹1,873.1 crore against ₹1,693.6 crore in the corresponding period of the preceding fiscal.
Cyient | IT solutions provider reported a 28.5% quarter-on-quarter increase in net profit at ₹196.9 crore for the fourth quarter that ended March 31, 2024. In the December quarter, Cyient posted a net profit of ₹153.2 crore, the company said in a regulatory filing.Tata Motors | The vote on the merger proposal of Tata Motors and Tata Motors DVR will be held on Friday, April 26, as announced by the board of directors in July 2023. The company said that it will issue seven (Ordinary) shares of Tata Motors per 10 Tata Motors DVR (A Ordinary) shares, which will stand cancelled.
