Results on May 23
Zomato, Divis Laboratories, Bharat Electronics, Birlasoft, TRF, SAIL, Nelcast, Pricol, The Ramco Cement, TTK Healthcare, Patel Engineering, Igarashi Motors, Graphite India, Data Patterns (India), Shilpa Medicare, and Vaibhav Global will be in focus ahead of March quarter earnings on May 23.
Stocks in News
One97 Communications, the parent firm of Paytm, reported a loss of Rs 762.5 crore for the March quarter against Rs 444.4 crore last year. Revenues were up by 89 percent year-on-year to Rs 1,541 crore. The firm has formed a joint venture general insurance company in which it has committed to invest Rs 950 crore over a period of 10 years. The proposal to set up joint venture firm Paytm General Insurance Limited (PGIL) was approved by the board on May 20.
Shree Cement reported a 16 percent decline in standalone net profit of Rs 645 crore in the fourth quarter of FY22, as against Rs 768 crore recorded a year ago. Revenue rose 3.6 percent on-year to Rs 4,099 crore as compared to a revenue of Rs 3,958 crore registered in the year-ago quarter. The year-on-year decline in profit was due to a surge in power and fuel costs, along with the high base of last year's quarter. Meanwhile, the sequential growth was aided by higher volumes and better realizations during the quarter.
NTPC reported a 14 percent growth in consolidated net profit of Rs 5,167 crore in the fourth quarter of FY 2021-22 as against Rs 4,542 crore recorded a year ago. Consolidated revenue for the state-owned utility major rose 23 percent on-year to Rs 37,085 crore from Rs 30,103 crore in the year-ago quarter. NTPC added 3,152 mega watts (MW) of new capacity during the year thereby taking its total installed capacity 68,962 MW.
Thermax reported a 4 percent year-on-year drop in consolidated net profit to Rs 103 crore for the March quarter. The company's consolidated revenues were up 26 percent YoY to Rs 1,992 crore. The company attributed lower profitability to increased commodity and freight costs during the quarter. Thermax reported a 127% jump in order booking for the quarter to Rs 3,396 crore.
Jet Airways India said it got an air operator certificate from Directorate General of Civil Aviation, allowing it to restart commercial flight operations. Jet Airways now plans to recommence operations in July-September quarter. Aircraft and fleet plan, network and other details will be available in phases over the coming weeks.
Sobha reported 40 percent growth in its net profit for the March quarter to Rs 25 crore against Rs 18 crore a year ago. Revenue grew 30 percent to Rs 766.80 from Rs 588.90 crore last year. The firm realised its highest ever quarterly sales value of Rs 1,110 crore with a sales volume of 1.34 million square feet. It also achieved the highest ever sales volume in FY22 at 4.91 million square feet which is 22 percent higher than its sales volume in pre pandemic FY19 as well as FY21.
Indiabulls Housing Finance reported an 11 percent increase in net profit for the fourth quarter of 2021-22 at Rs 306.75 crore from Rs 276.23 crore in the same period in the previous fiscal. Revenue from operations declined by 7.7 percent to Rs 2,189.31 crore against Rs 2,371.71 crore in the same period in the previous fiscal. Loan book fell by 7.4 percent to Rs 59,333 crore in the fourth quarter of last fiscal from Rs 64,062 crore a year ago. Gross NPAs were at 3.21 percent as on March 31, 2022 versus 2.66 percent as on March 31, 2021. Net NPAs were at 1.89 percent as on March 31, 2022 compared to 1.59 percent a year ago.
Power Grid Corporation of India posted about 18 percent rise in its consolidated net profit at Rs 4,156.44 crore for the March 2022 quarter against Rs 3,526.23 crore a year ago, backed by higher income. Total income during the quarter increased to Rs 11,067.94 crore compared to Rs 10,816.33 crore last year.