*Stocks in News*
Hindustan Unilever: The FMCG major recorded an 11% year-on-year growth in profit at Rs 2,289 crore for the quarter ended June 2022, with underlying volume growth of 6%, but EBITDA margin contracted 100 bps YoY to 23.2% amid unprecedented inflationary headwinds. Revenue grew by 20% to Rs 14,272 crore during the same period YoY.
Ambuja Cements: The cement maker registered a 25.5% year-on-year decline in consolidated profit at Rs 865.44 crore for the quarter ended June 2022 (Q2CY22), impacted by higher power & fuel cost, and freight & forwarding expenses. However, revenue increased 15.1% YoY to Rs 8,033 crore for the quarter.
Vedanta: The company said the board has approved second interim dividend of Rs 19.50 per equity share on face value of Re 1 per share for the financial year 2022-23. The dividend is amounting to Rs 7,250 crore. The record date for payment of dividend is July 27, 2022.
Grasim Industries: The Aditya Birla Group flagship company said the board has approved a foray into B2B e-commerce platform for the building materials segment with an investment of Rs 2,000 crore over the next 5 years. This investment adds a new high-growth engine with clear adjacencies within Grasim's standalone businesses as also that of its subsidiaries and associate companies.
ICICI Lombard General Insurance Company: The general insurance company reported a 80% year-on-year growth in profit at Rs 349 crore for the quarter ended June 2022. Total income grew by 3.8% to Rs 3,978.3 crore compared to year-ago period, and net premium earned jumped 10% to Rs 3,468 crore.
L&T Finance Holdings: The non-banking finance company has clocked a 47.4% year-on-year growth in profit at Rs 262 crore for the quarter ended June 2022, driven by fall in impairment on financial instruments. Revenue from operations declined 2.1% to Rs 2,988.40 crore during the same period YoY. The company reported highest-ever quarterly retail disbursements at Rs 8,938 crore, up 148% YoY.
Krsnaa Diagnostics: The company received order from Rajasthan Medical Education Society (Directorate of Medical Education), for supply, installation, operation and maintenance of CT Scan Center at Raj - MES Medical College at Churu, Rajasthan on public private partnership (PPP) basis. As per the tender awarded, the company will set up a CT Scan machine 64 slice scanner at MES Medical College. The tenure of contract will be 10 years.
Rallis India: The Tata Group company recorded a 18.1% year-on-year decline in profit at Rs 67.5 crore for the quarter ended June 2022, impacted by higher raw material cost. However, revenue increased 16.5% YoY to Rs 862.8 crore in Q1FY23 backed by 17.1% growth in domestic crop care business and 51% growth in exports.