BackStocks to Watch: Coal India, IRCTC, Indigo, Tata Consumer, Glenmark, SAIL
Apollo Hospitals, Bharat Forge, Aurobindo Pharma, Bata India, and TPI India will be in focus as they declare their June quarter earnings today.
PremiumHere is the list of top 10 stocks that will be in focus today
Coal India: Coal India on Wednesday said its consolidated net profit shot up 178% to ₹8,834 crore for the first quarter of the 2022-23 fiscal on the back of higher sales. The miner posted a net profit of ₹3,174 crore in the same quarter last year. The company said in a regulatory filing on Wednesday that its sales were 39% higher at ₹32,498 crore during the quarter under review, as against ₹23,293 crore registered in the corresponding period of FY22.
IRCTC: The Indian Railway Catering and Tourism Corporation (IRCTC), a public sector undertaking under the Ministry of Railways, on Wednesday reported 198% jump in net profit at ₹245.52 crore for the quarter ending 30 June, 2022. It reported a net profit of ₹82.52 crore in Q1FY22. IRCTC's revenue from operations soared 250.34% to ₹852.59 crore in the quarter under review as against ₹243.36 crore in Q1FY22.
InterGlobe Aviation: The civil aviation ministry on Wednesday said that limits imposed on domestic airfares will be removed from 31 August, after a span of approximately 27 months. However, airlines will be free to decide what to charge passengers post 31 August. The move comes at a time when fuel prices are stabilising and demand is bouncing back to pre-Covid levels.
Tata Consumer: Tata Consumer Products Ltd (TCPL) on Wednesday reported 38.2% rise in consolidated net profit at ₹276.72 crore for June quarter, helped by cost control initiatives and price increases during the period. The company had posted a net profit of ₹200.24 crore for April-June period a year ago, said TCPL. Revenue from operations was up 10.58% to ₹3,326.83 crore during the quarter as against ₹3,008.46 crore in the corresponding period last fiscal year.
Glenmark: Glenmark Pharmaceuticals on Wednesday reported a 31% decline in its consolidated net profit at ₹211 crore for the first quarter ended June on account of sales dip in domestic and US markets. The company had posted a consolidated net profit of ₹306 crore in the April-June quarter of the previous fiscal. Revenue from operations declined to ₹2,777 crore in the June quarter as compared with ₹2,965 crore in the year-ago period.
SAIL: Sate-owned SAIL on Wednesday posted a 79% fall in its consolidated net profit to ₹804.50 crore during the June quarter dragged by higher expenses. It had clocked ₹3,897.36 crore in the April-June period of 2021-22 fiscal, Steel Authority of India Limited (SAIL) said in a regulatory filing. The company's total income rose to ₹24,199.51 crore from ₹20,754.75 crore in the year-ago quarter.
Suzlon Energy: Suzlon Energy posted a multi-fold rise in its net profit to ₹2,432.55 crore in the June quarter compared to the year-ago period, helped by exceptional gains. The consolidated net profit of the company was ₹3.64 crore in the quarter ended June 30, 2021, a BSE filing said. Total income of the company rose to ₹1,383.47 crore in the quarter from ₹1,148.61 crore a year ago.
PB Fintech: PB Fintech, the parent firm of online insurance broker Policybazaar, on Wednesday reported a widening of consolidated loss to ₹204.33 crore in the first quarter ended June 30, 2022, according to a BSE filing. The company had posted a loss of ₹110.84 crore in the same period a year ago. The consolidated revenue from operations of PB Fintech more than doubled to ₹505.18 crore during the reported quarter from ₹237.73 crore in the June 2021 quarter.
Zomato: Online food delivery platform Zomato Ltd is targetting to achieve the breakeven level in overall business between the fourth quarter of this fiscal and the second quarter of FY24 having cut losses gradually, according to company CFO Akshant Goyal. Zomato, which earlier this year gave an investment guidance of USD 400 million for the next couple of years on quick commerce, has now reduced it to about USD 320 million.
Eicher Motors: Eicher Motors on Wednesday reported over two-fold increase in consolidated net profit to ₹611 crore for the first quarter ended June 30, driven by robust sales in the international markets. The company had posted a net profit of ₹237 crore in the June quarter of the last fiscal. Revenue from operations rose to ₹3,397 crore in the April-June period as compared with ₹1,974 crore in the year-ago period.
Milestone Alert!Livemint tops charts as the fastest growing news website in the world 🌏 Click here to know more.
