Larsen and Toubro: L&T reported a 12% YoY increase in its consolidated net profit, reaching ₹2,786 crore for Q1 ending June 30, 2024. Despite the geopolitical situation, the company achieved steady growth across all financial parameters in Q1 FY 2024-25. The company secured orders totaling ₹70,936 crore at the group level in the first quarter, marking an 8% YoY increase, driven by robust ordering activity in the Middle East.
Nestle India: The FMCG major is expected to continue its growth momentum in Q1 ending June 2024, led by a healthy growth in profit and revenues. The company is scheduled to release its Q1FY25 results on Thursday, 25 July. Revenue for April-June 2024 period is likely to jump 9% YoY, led by growth in domestic sales and exports.
Tech Mahindra: The company is set to unveil its Q1 FY25 earnings on July 25 and analysts have predicted a sequential uptick in both net profit and revenue of the IT company, driven by portfolio shifts, volume growth, and cost management. According to analysts' estimates, Tech Mahindra’s net profit is projected to increase over 30% QoQ, reaching ₹861 crore in Q1 FY25.
Axis Bank: The bank reported a 4% YoY increase in net profit at ₹6,035 crore for Q1FY25. The bank’s net interest income rose 12% YoY to ₹13,448 crore. The bank’s net interest margin for Q1FY25 stood at 4.05%. Axis Bank’s reported gross non-performing assets and net NPA levels were 1.54% and 0.34% respectively. The bank’s advances grew 14% YoY and 2% QoQ to ₹9,80,092 crore as on 30th June 2024.
SBI Life Insurance: The company reported a net profit of ₹519 crore for the June quarter, up 36% from the year-ago period. The annualized premium equivalent of the insurer stood at ₹36,400 crore. Value of New Business of the insurer for the reporting quarter was at ₹970 crore, 12% growth and VNB margin was 26.8%.
Religare Enterprises: India’s insurance regulator IRDAI has directed Care Health Insurance Limited to cancel the hefty stock options that it granted to Religare Enterprises chairperson Rashmi Saluja. This could be a setback to Saluja and Religare’s board in their struggle against the Burman family for control of the financial services company.
Jindal Steel and Power: JSPL posted a 4% increase in profit after tax to ₹1,456.54 crore during the June 2024 quarter, helped by higher income. The company produced 2.05 million tonne (MT) from 2.04 MT in the year-ago quarter. The company also reduced its net debt to ₹10,462 crore at the end of the June 2024 quarter from ₹11,203 crore at the end of the March 2024 quarter.
Oracle Financial Services Software: The company reported a 23.1% YoY increase in net profit at ₹616.7 crore for Q1FY25. The company’s revenue from operations increased 19.08% to ₹1,741.4 crore. At the operating level, EBITDA surged 36.3% to ₹847.1 crore in Q1FY25. The EBITDA margin stood at 48.6% in the reporting quarter.
Petronet LNG: The company reported a nearly 40% increase in its consolidated net profit for Q1FY25 at ₹1,100.76 crore. The company reported a total income of ₹13,592.84 crore for the quarter under review, with a 15.2% increase on a year-on-year basis. The Dahej terminal processed highest ever 248 TBTU (trillion British thermal unit) of LNG during the current quarter.
Indian Energy Exchange: IEX posted over 27% rise in consolidated net profit to ₹96.44 crore for June quarter, mainly on the back of higher revenues. IEX recorded a total trading volume of 30.4 BUs (billion units), an increase from 25.1 BUs in Q1FY24, marking a growth of 21.1% YoY (year-on-year).
JK Paper: The company reported a 54.8% YoY decline in net profit at ₹139.7 crore for Q1FY25. The company’s revenue from operations increased 8.2% to ₹1,713.7 crore against ₹1,584.4 crore in the corresponding period of the preceding fiscal.
Adani Green Energy: The company operationalised a 250MW wind power generation at the world’s largest 30,000 MW renewable energy plant at Khavda, Gujarat. With this milestone, 2,250 MW of cumulative capacity has been made operational at the Khavda plant.
DCB Bank: Private sector lender DCB Bank reported a 3.6% YoY dip in net profit at ₹131.4 crore for Q1FY25. Net interest income (NII) increased 5.5%, coming at ₹496.6 crore against ₹470.7 crore in the corresponding quarter of FY24.
Piramal Capital and Housing Finance: The company, a subsidiary of Piramal Enterprises, has raised $300 million through its first US dollar-denominated bond. The lender is now looking to increase the share of overseas borrowing to 10-15% of its total liabilities.
Hindustan Zinc: The company is exploring options to double its annual output capacity to 2 million tonnes, and expects a final report from mining and production consultants next month for presenting to its board of directors. The Vedanta group company also launched a new low-carbon line of zinc, betting on demand from steelmakers as emission norms get stricter globally.
Hero Motocorp: The Delhi High Court has quashed summons issued to Hero Motocorp chairman Pawan Kant Munjal in a case registered by the Directorate of Revenue Intelligence (DRI) relating to foreign currency.
Indian Overseas Bank: The bank gained ₹190 crore after the transition to the revised norms for classification, valuation and operation of investment portfolio of banks on April 1. The bank expects ₹100 crore in deferred tax asset (DTA) in the next quarter.
CG Power and Industrial Solutions: The company has entered into definitive agreements for acquiring 55% stake of GG Tronics. The transaction will be carried out through a combination of purchase of equity shares from the promoters of GGT and by way of subscription to Compulsorily Convertible Preference shares for an aggregate consideration of up to ₹319.38 crore.
Linde India: The capital markets regulator Sebi and Linde India (LIL) have exchanged harsh words following the regulator’s examination of LIL’s related party-transactions with Praxair India Pvt Ltd and Linde South Asia Services Pvt Ltd.
Indraprastha Gas: IGL reported an 8% YoY decline in net profit at ₹401 crore for Q1FY25. The company’s revenue from operations increased 3% to ₹3,520 crore against ₹3,406.98 crore in the corresponding period of the preceding fiscal.
Bikaji Foods International: The company reported a 40.6% growth in net profit at ₹58.55 crore in Q1FY25. The company’s revenue for the quarter under review surged to ₹555.12 crore from ₹481.68 crore reported in the corresponding period of previous financial year.
Sona BLW Precision Forgings: Auto component maker Sona BLW Precision Forgings reported a 26.7% YoY increase in net profit at ₹141.9 crore for Q1FY25. The company’s revenue from operations rose 21.8% to ₹891.2 crore as against ₹731.4 crore in the corresponding period of the preceding fiscal.
Aditya Birla Sun Life AMC: The company reported a 27.7% YoY increase in net profit at ₹235.7 crore for Q1FY25. The company’s revenue from operations rose 24.2% to ₹386.6 crore as against ₹311.2 crore in the corresponding period of the preceding fiscal.
Syngene International: The contract research and manufacturing services firm reported a 19% YoY decline in net profit at ₹75.7 crore for Q1FY25. The company’s revenue from operations dipped 2.3% to ₹789.7 crore. EBITDA fell 44.6% to ₹170 crore, with the EBITDA margin standing at 21.5%.
Rail Vikas Nigam: The company has been awarded a project worth ₹191.53 crore by SER HQ-Electrical/South Eastern Railway. The project involves the design, supply, erection, testing, and commissioning of a 132 KV traction substation, sectioning posts (SPs), and sub-sectioning posts (SSPs) in a 2x25KV system on the Rajkhaswan-Nayagarh-Bolani section of the Chakradharpur division of South Eastern Railway.
Karnataka Bank: The bank’s Q1 standalone YoY profit grew by 8% to ₹400.3 crore from ₹370.7 crore, and net interest income increased by 10.88% to ₹903.4 crore from ₹814.7 crore. However, Gross NPA rose to 3.54% from 3.53% (QoQ), and Net NPA jumped to 1.66% from 1.58% (QoQ).
Ramkrishna Forgings: The company’ Q1 consolidated YoY profit increased by 3% to ₹80.9 crore from ₹78.5 crore, and revenue rose by 12.6% to ₹1,005 crore from ₹892.3 crore.
ITC Infotech India: The company, a subsidiary of ITC, has expanded its global footprint by incorporating a wholly owned subsidiary in Italy, named ITC Infotech Italia s.r.l.
Dish TV: The company is set to raise funds up to ₹1,000 crore through equity shares or bonds, in one or more tranches, as approved by the board. Additionally, the board has greenlit the incorporation of a subsidiary in India to distribute products and services via a robust digital platform.
Sun Pharmaceutical: The company has received a warning letter from the US FDA for its Dadra facility.
Dr Reddy’s Laboratories, Nestle India: The company has transferred 49% of its equity share capital in the joint venture company, Dr Reddy’s and Nestle Health Science, to Nestle India. Following the transfer, Dr Reddy’s Labs holds a majority stake of 51%, while Nestle India holds 49% of the share capital in the joint venture company.
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