Results on May 18
ITC, Aditya Birla Fashion and Retail, Arvind, Barbeque Nation Hospitality, Brookfield India Real Estate Trust REIT, Finolex Industries, GIC Housing Finance, GMR Power and Urban Infra, GTL, Indraprastha Gas, InterGlobe Aviation, Indian Overseas Bank, JK Lakshmi Cement, LIC Housing Finance, Lupin, Manappuram Finance, NDTV, Pidilite Industries, Route Mobile, Shyam Metalics, Shriram Asset Management, and Westlife Developments will be in focus ahead of March quarter earnings on May 18.
Stocks in News
Bharti Airtel nearly tripled its consolidated net profit for the fiscal fourth quarter, driven by the sharp tariff hikes taken last November which helped boost average revenue per user (ARPU), and one-time gains. Consolidated net profit increased to Rs 2,008 crore in the March quarter from Rs 759 crore a year earlier. Revenues for the quarter grew by 22 percent to Rs 31,500 crore. Airtel continues to have the highest ARPU at Rs 178 from Rs 163 in the December quarter.
TVS Motor Company has announced the sale of Intellicar Telematics Pvt Ltd, bought in December 2020, to Fabric IOT Pvt Ltd for Rs 45 crore. The divestment is part of the value creation initiatives on its digital portfolio.
Shares of Zydus Lifesciences will be in focus on Wednesday after the firm said its board will meet on May 20 to consider share buyback. The stock was under pressure since November 2011 and corrected nearly 50 percent from its high of Rs 664 a share.
Dr Lal Pathlabs reported lower than expected earnings for the March quarter. Net profit for the quarter stood at Rs 61.30 crore, down 23 percent from a year ago. Analysts expected a net profit of Rs 82.31 crore for the quarter. Revenue rose 13 percent YoY to Rs 486 crore. Analysts estimated revenue at Rs 534 crore for the quarter. Total cost rose 24 percent to Rs 414 crore.
Indian Oil Corporation consolidated net profit for the quarter ended March stood at Rs 6,645.72 crore, down 26.37 percent from Rs 9,026.49 crore in the same quarter last year due to a margin squeeze in petrochemicals and losses on auto fuel sales. Its revenue from operations, however, climbed 26.13
percent from Rs 1,65,734.27 crore in the corresponding quarter last year to Rs 2,09,049.16 crore. The board approved a bonus issue of 1:2 for its shareholders.
IRB Infrastructure Developers reported a 79.04 percent jump in its consolidated net profit to Rs 175 crore for the March quarter against Rs 97.45 crore a year ago. Its total income during the January-March 2022 quarter rose to Rs 1,682.72 crore from Rs 1,650.40 crore in the year-ago period. Total cost fell 6 percent to Rs 1380 crore.
DLF said its net profit for the March quarter fell 16 percent year-on-year to Rs 405 crore from Rs 481 crore. Revenue dropped 9 percent from a year ago to Rs 1,550 crore. Total cost declined 10 percent to Rs 1,340 crore. Net profit rose to Rs 1,500.86 crore during the last financial year from Rs 1,093.61 crore in the 2020-21 fiscal year. Total income rose to Rs 6,137.85 crore in 2021-22 from Rs 5,944.89 crore in the previous year.