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.
Kotak Mahindra Bank | The RBI on Wednesday barred private lender from onboarding new customers through its online and mobile banking channels and issuing fresh credit cards with immediate effect after the regulator found “serious deficiencies” in the lender’s IT risk management.Axis Bank | Private lender on Wednesday reported a consolidated net profit of ₹7,599 crore during the March 2024 quarter. Sequentially, the bank’s net profit grew 17% as compared to ₹6,071 crore earnings recorded in the preceding quarter of FY24.Hindustan Unilever | FMCG major on Wednesday reported a 1.53% decline in consolidated net profit to ₹2,561 crore for the fourth quarter ended March 31, 2024. The company had posted a net profit of ₹2,601 crore in the year-ago period.LTIMindtree | Indian IT services company on Wednesday reported a 1.2% decline year-on-year in consolidated net profit for the March quarter to ₹1,100.7 crore. The profit (attributable to shareholders of the company) came in at ₹1099.9 crore for the March quarter, a year-on-year dip of 1.2%.Macrotech Developers | Realty firm on Wednesday reported an 11% decline in consolidated net profit to ₹665.5 crore in the March quarter. However, for the full fiscal year, the company registered a three-fold jump in profit to ₹1,549.1 crore.IHCL | Tata Group hospitality firm reported a 29.4% year-on-year increase in net profit at ₹438.3 crore for the fourth quarter that ended March 31, 2024. The company’s revenue increased 17.2% to ₹1,905.3 crore against ₹1,625.4 crore in the corresponding period of the preceding fiscal.Dalmia Bharat | The cement maker reported a net profit of ₹315 crore. In the previous quarter, net profit came at ₹266 crore. The company’s revenue rose 10% YoY to ₹4,307 crore against ₹3,912 crore in the corresponding period of the preceding fiscal.Syngene International | Contract research and manufacturing services firm reported a 5.5% year-on-year (YoY) increase in net profit at ₹188.6 crore for the fourth quarter that ended March 31, 2024. The company’s revenue dipped 7.8% to ₹916.9 crore against ₹994.4 crore in the corresponding period of the preceding fiscal.Motilal Oswal AMC | The company on Wednesday said it has appointed Prateek Agrawal as managing director (MD) and chief executive officer (CEO) of the company, effective from April 26, 2024. Akhil Chaturvedi, currently Chief Business Officer of MOAMC, has been elevated to the position of executive director.
Tata Consumer Products | The company reported a 22.5% year-on-year dip in net profit at ₹267.7 crore for the fourth quarter. In the corresponding quarter, it posted a net profit of ₹345.6 crore. The company’s revenue increased 8.5% to ₹3,926.9 crore as against ₹3,618.7 crore in the corresponding period of the preceding fiscal.ICICI Prudential | The company reported a 26% drop in net profit to ₹174 crore for the quarter ended March 31 on higher expenses. The insurer had a profit of ₹235 crore in the fourth quarter of 2022-23. The insurer’s net premium income rose 17% to ₹14,788 crore in the March quarter compared to ₹12,629 crore in the year-ago period.Tata Elxsi | The Tata Group firm’s net profit dropped 4.6% to ₹196.9 crore on a sequential basis. Tata Elxsi reported a net profit of ₹206.4 crore in the preceding October-December quarter. Tata Elxsi revenue also dropped by a percent on a quarter-on-quarter (QoQ) basis to ₹905.9 crore.Gokaldas Exports | Readymade garment manufacturer and exporter said it has approved a qualified institutional placement (QIP) offering with an issue price of ₹775 per equity share. The QIP, which opened on April 18, garnered significant interest from eligible qualified institutional buyers.IIFL Finance | Non-banking financial company on Tuesday announced the commencement of a special audit as directed by the Reserve Bank of India (RBI). This development follows the RBI’s imposition of an embargo on March 4, 2024, suspending the disbursement of new gold loans by IIFL until the satisfactory completion of the audit.Cyient DLM | Electronic manufacturing services firm reported an 80.2% year-on-year surge in net profit at ₹22.7 crore for the fourth quarter that ended March 31, 2024. In the corresponding quarter, Cyient DLM posted a net profit of ₹12.6 crore.Nelco | Tata Group satellite services firm reported a 7% year-on-year increase in net profit at ₹6.1 crore for the fourth quarter that ended March 31, 2024. In the corresponding quarter, Nelco posted a net profit of ₹5.7 crore, the company said in a regulatory filing.Rama Steel Tubes | Steel pipes maker said it has decided to raise funds amounting to ₹500 crore through a “further” public offer, following the approval of its board of directors in a meeting held on April 22, 2024. The proposed fundraising, subject to the approval of shareholders and other necessary regulatory clearances.
Reliance Industries | The oil-to-telecom-and-retail conglomerate’s consolidated net profit stood at ₹18,951 crore, or ₹28.01 per share, in January-March quarter of the 2023-24 fiscal compared to ₹19,299 crore, or ₹28.52 a share, a year ago. The profit was, however, higher quarter-on-quarter when compared to ₹17,265 crore in the October-December period.Patel Engineering | The company on Monday said it has launched a qualified institutional placement (QIP) and set a floor price for the QIP at ₹59.50 per share. Sources close to the company revealed that the QIP size is expected to be around ₹400 crore, with an indicative price set at ₹56.53 per share.PSP Projects | The company is planning to launch qualified institutional placement (QIP) to raise ₹244 crore, sources told. The indicative issue price for the QIP has been set at ₹670.00 per share, representing a slight discount to the closing price on the National Stock Exchange (NSE) on April 22, 2024.Tamilnad Mercantile Bank | Private sector lender said its board of directors has recommended a final dividend of ₹10 (100%) per equity share of the face value of ₹10 each for the financial year 2023-24. The bank’s net profit remained unchanged at ₹253 crore for the fourth quarter that ended March 31, 2024.Tejas Networks | Domestic telecom gear-maker reported a net profit of ₹146.8 crore for the fourth quarter that ended March 31, 2024. In the corresponding quarter, Tejas Networks posted a net loss of ₹11.5 crore. The company’s revenue spiked 343.40% to ₹1,326.9 crore as against ₹299.3 crore in the corresponding period of the preceding fiscal.Mahindra Logistics | The company reported a net loss of ₹11.9 crore for the fourth quarter that ended March 31, 2024. In the corresponding quarter, Mahindra posted a net profit of ₹0.20 crore. The company’s revenue increased 14% to ₹1.450.8 crore as against ₹1,272.5 crore in the corresponding period of the preceding fiscal.Rallis India | Agri goods company reported a net loss of ₹21 crore for the fourth quarter that ended March 31, 2024. In the corresponding quarter, Rallis India posted a net loss of ₹69 crore. The company’s revenue from operations tanked 16.6% to ₹436 crore against ₹523 crore in the corresponding period of the preceding fiscal.UltraTech Cement | The company said it has received an order from the Deputy Commissioner, Divisional GST Office (DGSTO), Kalaburagi, Karnataka, demanding payment for GST, interest, and penalties amounting to ₹7.9 crore.HDFC Bank | The bank’s customers in India encountered difficulties accessing net banking services on Monday (April 22). The bank acknowledged the issue in a statement posted on platform X, stating, “A few customers may experience issues while accessing net banking. We’re actively working to resolve this at the earliest.”
HDFC Bank | Net profit at ₹16,511.9 crore compared to a CNBC-TV18 poll of ₹18,361.5 crore. Gross NPA at 1.25% from 1.26%, while net NPA at 0.33% from 0.31% in December. The bank has made floating provisions worth ₹10,900 crore in the March quarter and also recommended a dividend of ₹19.5 per share. HDFC Bank also plans to raise ₹60,000 crore through debt instruments.Wipro | Reports fifth consecutive quarter of revenue decline for the March quarter. Ended FY24 with a constant currency revenue decline of 4.4% compared to TCS’ 3.4% and Infosys’ 1.4% growth. Q1 guidance of -1.5% to 0.5%, compared to estimates of 0% to 2% growth. Headcount also fell for the sixth quarter in a row. Continues to see green shoots in Capco, which saw 44% sequential growth in order bookings.Jio Financial Services | Income at ₹418.2 crore, up 0.9% sequentially. Cost-to-income ratio at 24.23% from 23.8% in the December quarter. Operating profit at ₹316.9 crore from ₹315.6 crore last quarter. Profit of associates up 17.4% quarter-on-quarter to ₹77.6 crore. Net profit up 5.7% to ₹310.6 crore.Aditya Birla Fashion | Approves demerger of Madura Fashion & Lifestyle into newly incorporated Aditya Birla Lifestyle Brands. ABLBL will be listed separately on completion of the merger. Aditya Birla Fashion shareholders will get one new share of the demerged entity for every one share held of ABFRL. Post demerger, ABFRL will raise up to ₹2,500 crore within a 12-month period.IREDA | Reports all-time high annual net profit of ₹1,252 crore, a growth of 45% over last year. Net NPA down to 0.99% from 1.66% at the end of financial year 2023. Loan book grew by 27% to ₹59,6898 crore. Loan disbursements grew by 16% to ₹21,639.21 crore, marking the highest annual loan disbursement and sanction in the company’s history.Persistent Systems | US Dollar revenue growth of 3.4% from the December quarter to $310.9 million. Revenue in rupee terms up 3.7% quarter-on-quarter to ₹2,590.5 crore. Board recommended final dividend of ₹10 per share. Total order booking for the quarter stood at $447.7 million.Sterling & Wilson | Revenue growth of over 50% to ₹3,035 crore. Turns EBITDA positive with a ₹54 crore figure in financial year 2024, aided by the growing domestic EPC business. Achieved gross margin in excess of 10% for the year. Unexecuted order value has grown 64% with net debt reduction by over 90%. Unexecuted order book at over ₹8,000 crore.HDFC AMC | Quarterly average AUM at ₹6.12 lakh crore, up 11% sequentially. Market share improves marginally to 11.3% from 11.2% in December. Equity AUM grew by 15.5% quarter-on-quarter. Also declared dividend of ₹70 per share.Lupin | Announces the launch of 25 mg strength of generic Mybetriq or mirabegron in the US. The company has approval to launch both 25 mg and 50 mg. The drug is used for an overactive bladder. The 25 mg strength has sales of $1 billion.UltraTech Cement | Board approves purchase of a grinding unit having an installed capacity of 1.1 MTPA in addition to a captive railway siding at Parli in Maharashtra from The India Cements for a consideration of ₹315 crore. The purchase will help UltraTech strengthen its presence in the Maharashtra market.Hero MotoCorp | Inaugurated a product assembly facility in the country. Also launched four of its globally popular products, which will be assembled locally at the new assembly facility located in the CG Industrial Park in Nawalparasi. The facility will have a capacity of 75,000 units.
