Stocks In the News: Check out the companies making headlines before the opening bell.
Results on May 6: Reliance Industries, Canara Bank, Sundaram-Clayton, Tata Power Company, CSB Bank, Federal Bank, Great Eastern Shipping Company, Bajaj Consumer Care, Apollo Pipes, Apollo Tricoat Tubes, Greenpanel Industries, Grindwell Norton, Hariom Pipe Industries, Kokuyo Camlin, Shipping Corporation of India, Paisalo Digital.
Blue Dart Express: Net profit up 21% in March quarter. The express air and integrated transport company posted growth of 20.7 percent year on year in standalone profit after tax of Rs 135 crore for March quarter, aided by higher revenues and cost efficiency initiatives that improved margins. Revenue from operations jumped 21 percent on year to Rs 1,166 crore driven by volumes and better realisations. The company declared a total dividend of Rs 60 per share for FY21-22.
Future Consumer: Sees huge block deal. Vistra Capital sold 6,34,64,827 pledged shares of the company amounting to 3.18 percent stake. The shares were sold between April 26 and May 2 and were invoked by Vistra in capacity as a debenture trustee and these shares were earlier pledged in order to secure the debentures issued by Future Capital Investment and Future Corporate Resources. Vistra stake now stands reduced to 19.22 percent from 22.4 percent earlier.
DCM Shriram: Net profit surges 73% in March quarter. DCM Shriram declares a 73 percent increase in its net profit at Rs 401 crore for Q4FY22 as compared to Rs 232 crore during the same period last year. Its net revenue from operations grew 28 percent on year to Rs 2,796 crore as compared to Rs 2,191 crore last year driven by growth across its businesses of Chemicals, Vinyl, Fertilizers, Fenesta and Farm Solutions. Sugar revenues were down during the quarter. Higher realizations for the above businesses aided the growth in the profit for the quarter. The company declared a final dividend of 245 percent taking the total dividend for the year to 735 percent.
Ceat: Net profit fell 83% YoY to Rs 25 crore. Ceat Ltd posted a decline of 83 percent in its consolidated net profit for Q4FY22 to Rs 25.25 crore as compared to Rs 153 crore during the same period last year. The surge in cost of raw materials resulted in the decline in profits. The revenues however increased 13 percent on year to Rs 2,592 crore. For the full year period, the profit was lower by 84 percent to Rs 71 crore compared to Rs 432 crore in FY21. Revenues for FY22 increased 23 percent to Rs 9,363 crore. The company declared a dividend of Rs 3 per equity share for FY22.
TVS Motor: Net profit rose 5% YoY in March quarter. TVS Motor Company Ltd reported a 5 percent year-on-year decline in standalone profit after tax (PAT) at Rs 275 crore as compared to a profit of Rs 289 crore. Revenues for the Chennai-based automobile company registered a YoY growth of 4 percent to Rs 5,530 crore as compared to Rs 5,322 crore registered during the same period a year ago.
Dabur India: Net profit up 22% YoY in March quarter. Dabur India reported a 22 percent year-on-year decline in consolidated profit to Rs 294 crore for the quarter ended March 2022, dented by higher input cost and impairment of goodwill of the Turkey arm. Consolidated revenue during the quarter remained steady, rising by 7.7 percent to Rs 2,518 crore compared to year-ago period despite significant and increasing cost headwinds taking a toll on consumer purchases.
Marico: Net profit increased 13% in March quarter to Rs 257 crore. Marico Ltd reported an increase of 13.2 per cent in its consolidated net profit to Rs 257 crore for the fourth quarter ended March 31, 2022. Its revenue from operations during January-March 2022 jumped 7 per cent to Rs 2,161 crore, compared with Rs 2012 crore in the year-ago period.
Tribhovandas Bhimji Zaveri: Net profit fell 72% in March quarter. Profit after tax for the quarter declined 72 percent to Rs 2.43 crore as compared to Rs 8.6 crore reported during the same period last year due to the impact of the pandemic and geo-political crisis on the overall demand. The revenues however improved 18 percent on year to Rs 431 crore compared to Rs 366 crore during last year quarter. For FY22, profit has declined by 60 percent to Rs 17 crore from Rs 43 crore in FY21. Full year revenue increased 37 percent to Rs 1,844 crore. The company has declared a dividend of Re 1 per equity share for FY22.
Indus Towers Q4: Net profit was up 16.4% at Rs 1,828.5 crore against Rs 1,570.8 crore (QoQ). Revenue rose 2.7% at Rs 7,116.3 crore against Rs 6,927.4 crore (QoQ).
Firstsource Solutions: Profit surges 184% in March quarter. Firstsource Solutions net Sales at Rs 1,543.93 crore in March 2022 up 5.54% from Rs. 1,462.84 crore in March 2021. Quarterly net profit at Rs. 132.39 crore in March 2022 up 183.64% from Rs. 46.68 crore in March 2021.
Adani Power: Net profit surges multifold to Rs 4645 crore in March quarter. Adani Power’s consolidated net profit jumped to Rs 4,645.47 crore in the March quarter from Rs 13.13 crore in the year-ago period, mainly on the back of higher revenues. The total income of the company rose to Rs 13,307.92 crore in the quarter ended on March 31, 2022 from Rs 6,902.01 crore in the same period a year ago.
Blue Star: Net profit rose 12% YoY to Rs 76 crore. Consolidated net profit for the quarter increased by 12 percent on year to Rs 76.27 crore compared to Rs 68.09 crore during the same period a year ago. Revenue from operations for the company jumped 39.5 percent to all-time high of Rs 2247.58 crores compared to Rs 1611.56 crores in Q4FY21. Net Profit for the year was Rs 168.00 crores compared to Rs 100.66 crores in FY21, representing a growth of 66.9 percent. Revenue from Operations of Rs 6,045.58 crores for the year grew 41.8 percent compared to Rs 4263.59 crores during FY21. The company recommended a dividend of Rs 10 per equity share of Rs 2 each for FY22.
Sona BLW Precision Forgings: Net profit surges 76% YoY. Net profit for the quarter surged 76 percent to Rs 105 crore as compared to Rs 60 crore reported during the same period last year due to lower employee cost and tax credit pertaining to previous years. The revenues however improved 2 percent on year to Rs 550 crore compared to Rs 539 crore during last year quarter. For FY22, profit increased by 68 percent to Rs 362 crore from Rs 215 crore in FY21. Full year revenue increased 36 percent to Rs 2,130 crore. The company has declared a dividend of Re 0.77 per equity share for FY22.
Phoenix Mills: Company buys balance 50% stake in Classic Mall for Rs 936 crore.
Moneycontrol News
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