Stocks In the News: Check out the companies making headlines before the opening bell.
Results on May 5: Adani group stocks, Dabur India, Marico, TVS Motor, Exide Industries will be in focus ahead of earnings. Adani Power, Adani Transmission, Dabur India, Marico, Exide Industries, Happiest Minds Technologies, Indus Towers, TVS Motor Company, Voltas, AAVAS Financiers, Blue Star, Aptus Value Housing Finance India, Blue Dart Express, Borosil Renewables, Computer Age Management Services, CEAT, Cholamandalam Investment and Finance Company, DCM Shriram, Firstsource Solutions, Intellect Design Arena, Jindal Stainless (Hisar), MMTC, Punjab Alkalies & Chemicals, Procter & Gamble Health, PNB Gilts, Quick Heal Technologies, Sona BLW Precision Forgings, and Tribhovandas Bhimji Zaveri will release quarterly earnings on May 5.
Tata Consumer Products: Tata Consumer Products net profit surges 304% YoY in March quarter. The company clocked 304 percent year-on-year growth in consolidated profit at Rs 217.54 crore in the quarter ended March 2022 driven by growth in underlying profitability and lower exceptional costs. Revenue grew by 4.5 percent YoY to Rs 3,175.4 crore during the quarter, with 4 percent growth in topline in constant currency, supported by India branded business. Sivakumar Sivasankaran is appointed as Chief Financial Officer, India and as key managerial personnel of the company, in place of John Jacob, who is retiring from the services of the company.
ABB India: ABB India profit surges 145% YoY in March quarter. The company reported solide performance during the quarter ended March 2022, with profit growing 145 percent YoY to Rs 370 crore on strong topline and operating performance. Revenue during the first quarter of 2022 grew by 21 percent to Rs 1,968 crore compared to year-ago period. The company won orders worth Rs 2,291 crore in Q1CY22, up 25.5 percent YoY.
Havells India: Havells India net profit up 16% YoY in Q4. The electrical equipment manufacturer clocked 16 percent year-on-year growth in Q4FY22 profit at Rs 352.48 crore driven by lower tax cost and higher topline. Revenue increased by 33 percent to Rs 4,426.3 crore compared to corresponding period last fiscal.
SIS: SIS net profit fell 5% in March quarter. The company recorded consolidated profit at Rs 97.4 crore for the quarter ended March 2022, down 4.7 percent compared to year-ago period on moderate growth in EBITDA and sharp downtick in other income. Revenue during the quarter grew by 8.3 percent YoY to Rs 2,648 crore and EBITDA increased by 0.9 percent to Rs 124.4 crore in Q4FY22, while the company crossed Rs 10,000 crore on a full year basis in FY22, for the first time in its history.
SJVN: SJVN gets order from IREDA. The company bagged the full quoted capacity of 1,000 MW and received Letter of Award (LOA) from Indian Renewable Energy Development Agency (IREDA). Now the company issued the Letter of Award for EPC contract to Tata Power Solar Systems for the development of 1,000 MW (AC) of ground mounted solar project in Bikaner, Rajasthan.
Dilip Buildcon: Dilip Buildcon completes Solapur road project. The company in a BSE filing said the road project ‘four laning of Sangli- Solapur section of NH-166′ in Maharashtra on Hybrid Annuity Mode’ has been provisionally completed. The authority has issued a Provisional Completion Certificate for the said project, saying the project fit for entry into commercial operation as on April 25, 2022.
Adani Total Gas: Adani Total Gas net profit surges 44% YoY in Q4. The Adani Group company reported a 44 percent year-on-year decline in consolidated profit at Rs 81 crore in quarter ended March 2022 impacted by higher cost of natural gas prices. However, revenue grew by 73 percent YoY to Rs 1,065.5 crore during the quarter on higher volume coupled with increase in sales price.
Satin Creditcare Network: Satin Creditcare Network net profit surges 40% YoY in March quarter. The company reported a 39.5 percent YoY increase in profit at Rs 60 crore in Q4FY22 due to drop in impairment of financial instruments. However, net interest income declined by 14.3 percent to Rs 185 crore and pre-provision operating profit dropped 32 percent to Rs 71 crore compared to year-ago period.
CarTrade Tech: CarTrade Tech reports loss of Rs 21 crore in March quarter. The company posted loss of Rs 21.39 crore for the quarter ended March 2022 against profit of Rs 15.95 crore in corresponding period last fiscal as there was a loss of Rs 25.94 crore at EBITDA level, against EBITDA profit of Rs 15.95 crore in same period last year. Revenue grew by 13.4 percent to Rs 93.1 crore during the same period.
Hind Rectifiers: Hind Rectifiers gets order worth Rs 58 crore in April. The company has secured orders worth Rs 57.79 crore in April 2022. With this, it is having all-time pending orders in hand of Rs 384.02 crore as of April 2022.
Moneycontrol News
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