Stocks In the News: Check out the companies making headlines before the opening bell.
Results on May 13: State Bank of India, Eicher Motors, Tech Mahindra, Bank of Baroda, Bandhan Bank, Union Bank of India, Alkem Laboratories, Emami, Escorts, Hindustan Aeronautics, JK Paper, Linde India, Nazara Technologies, Amber Enterprises India, APL Apollo Tubes, Balkrishna Industries, Carborundum Universal, CESC, Coromandel Engineering Company, DB Corp, Elgi Equipments, Gujarat Fluorochemicals, REC, Reliance Infrastructure, Reliance Power, Sharda Cropchem, Sigachi Industries, Steel Strips Wheels, Triveni Turbine, UCO Bank, and Vakrangee will release quarterly earnings on May 13.
Larsen & Toubro: The engineering and infrastructure major reported a 10 percent year-on-year growth in profit at Rs 3,621 crore in the quarter ended March 2022, with revenue rising 10 percent to Rs 52,851 crore and EBITDA climbing 2.1 percent to Rs 6,520.5 crore, compared to the year-ago period. Order inflow grew 46 percent on-year to Rs 73,941 crore in Q4FY22.
Tata Motors: The automaker posted a loss of Rs 1,032 crore in Q4FY22, which narrowed from a loss of Rs 7,605 crore a year back. Revenue during the quarter declined 11.5 percent to Rs 78,439 crore after subsidiary Jaguar Land Rover posted a 27.1 percent drop in revenues for Q4 to 4.8 billion pound amid semi-conductors shortage, and disruption in the European and China business.
JMC Projects (India): The company recorded a massive 41 percent year-on-year growth in consolidated profit at Rs 58.5 crore in the quarter ended March 2022, driven by higher other income, and low base in year-ago quarter due to exceptional loss. Revenue grew by 15.3 percent to Rs 1,605 crore compared to year-ago period. Azad Shaw has resigned as Chief Financial Officer of the company to pursue an external professional opportunity.
CreditAccess Grameen: The company reported a 184.4 percent YoY growth in profit at Rs 160 crore on fall in bad loans provisions in the quarter ended March 2022. Net interest income increased by 12 percent to Rs Rs 519.6 crore and pre-provision operating profit grew by 12 percent YoY to Rs 368.8 crore compared to year-ago period.
Coforge: UTI Mutual Fund and PACs bought 27,378 equity shares in the company via open market transactions on May 11. With this, their shareholding in the company stands increased to 5.03 percent, up from 4.98 percent earlier.
Tube Investments of India: The company clocked a whopping 57.5 percent year-on-year growth in consolidated profit at Rs 225 crore in the quarter ended March 2022, driven by higher operating income and topline. Revenue grew by 25 percent to Rs 3,415 crore compared to year-ago period.
Poonawalla Fincorp: The company reported a standalone profit of Rs 89.13 crore in the quarter ended March 2022, against a loss of Rs 625.9 crore in the same period last year, supported by write-back in bad loans provisions. Total revenue from operations fell 12 percent to Rs 383 crore during the same period impacted by lower interest income, and fees & commissions income.
Apollo Tyres: The tyre maker reported a 60.5 percent year-on-year decline in consolidated profit at Rs 113.5 crore in Q4FY22 dented by higher input cost and lower other income. Revenue grew by 11 percent to Rs 5,578.3 crore compared to year-ago period.
Gujarat State Petronet: The company recorded a 11 percent year-on-year growth in consolidated profit at Rs 639.50 crore in quarter ended March 2022 driven by higher operating income, with revenue rising 33 percent to Rs 5,094.2 crore compared to year-ago period.
Siemens: The company reported a 2.6 percent year-on-year growth in consolidated profit at Rs 340 crore in quarter ended March 2022 with EBITDA rising 6.1 percent to Rs 484.8 crore and revenue growing 13.5 percent to Rs 3,954.7 crore compared to year-ago period. Higher input cost, finance cost, and other expenses hit profitability.
Brigade Enterprises: The real estate company posted a loss of Rs 11.63 crore in Q4FY22 against profit of Rs 19.58 crore in corresponding period last fiscal impacted by lower operating income, higher finance cost and exceptional loss. Revenue grew by 19 percent to Rs 942.3 crore compared to year-ago period.
Matrimony.com: The company in a BSE filing said the board approved to buyback shares worth up to Rs 75 crore of the company, at a price of Rs 1,150 per share.
Ujjivan Small Finance Bank: The bank reported a 7 percent year-on-year decline in profit at Rs 127 crore in quarter ended March 2022 dented by higher provisions. Net interest income grew by 48 percent to Rs 544 crore and pre-provision operating profit increased by 40 percent to Rs 217 crore compared to year-ago period.
Windlas Biotech: The company reported a 151 percent year-on-year growth in profit at Rs 14.8 crore in quarter ended March 2022, driven by operating income and topline. Revenue grew by 14.3 percent YoY to Rs 122.1 crore and EBITDA rose by 28.7 percent to Rs 14.3 crore compared to year-ago period.
Moneycontrol News
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