25January 23
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Stocks In Action, Quarterly Results News
Adani Enterprises
The Adani Group company will launch its follow-on public offer of Rs 20,000 crore on January 27 and the closing date will be January 31, with a price band of Rs 3,112-3,276 per share. The firm already raised Rs 2,992.4 crore from anchor investors on January 27 at upper price band, which is half the amount of total anchor book (Rs 5,984.9 crore) launched and the rest of anchor book money will be received in one or more subsequent calls.
Tata Motors
The Tata Group company recorded healthy numbers for December FY23 quarter, beating analysts' expectations on all fronts with returning to profits. Consolidated profit for the quarter at Rs 2,958 crore against loss of Rs 1,516 crore in same period last year on better topline as well as operating performance. Revenue from operations at Rs 88,489 crore for the quarter grew by 22.5% over corresponding period last fiscal, with better realisation at JLR as well as standalone businesses. At the operating level, EBITDA at Rs 9,853 crore surged 33% YoY on strong show JLR & standalone business, with margin expansion of 90 bps YoY at 11.1 percent for the quarter aided by standalone business. The company remains cautiously optimistic on the demand situation despite global uncertainties
Blue Dart Express
The logistics company has reported a 28.2% year-on-year decline in consolidated profit at Rs 88.66 crore for quarter ended December FY23, impacted by weak operating performance. Revenue for the quarter grew by 6.6% to Rs 1,337 crore compared to year-ago period. At the operating level, EBITDA drops 16.7% YoY to Rs 228 crore with margin falling 470 bps to 17.1% compared to year-ago period.
Ceat
The tyre maker has reported consolidated profit at Rs 35.4 crore for quarter ended December FY23, against loss of Rs 20 crore in same period last year, supported by strong operating performance. Consolidated revenue at Rs 2,727 crore grew by 13% over a year-ago period led by domestic demand as the company remains cautious about international markets that are getting impacted by recessionary trends. At the operating level, EBITDA surged 77% YoY to Rs 237.6 crore for the quarter and margin rose by more than 3 percentage points to 8.7% compared to year-ago period.
Dr Reddy's Laboratories
The pharma company has clocked a massive 77% year-on-year growth in consolidated profit at Rs 1,247 crore for quarter ended December FY23, driven by strong US business. Consolidated revenue from operations at Rs 6,770 crore for the quarter grew by 27.3% over corresponding period last fiscal with US business rising 64%, India showing 10 percent and emerging markets 14% growth YoY. On the operating front, EBITDA surged 55% YoY to Rs 1,966 crore with 5 percentage points expansion in margin at 29% for the quarter.
Amara Raja Batteries
The industrial and automotive battery maker has registered a 53% year-on-year growth in consolidated profit at Rs 221.9 crore for quarter ended December FY23, backed by health topline and operating performance. Revenue grew by 11.5% to Rs 2,638 crore compared to year-ago period driven by healthy volume growth in the automotive sector in both OEM and Aftermarket segments.
DLF
The real estate developer has registered a 37% year-on-year growth in consolidated profit at Rs 519 crore for quarter ended December FY23 on a low base and lower finance cost. It had an exceptional loss of Rs 224.4 crore in Q3FY22. Revenue from operations at Rs 1,495 crore for the quarter fell by 3.5% compared to same period last fiscal, but new sales bookings at Rs 2,507 crore increased by 24% YoY. At the operating level, EBITDA fell by 8.5% YoY to Rs 477.2 crore and margin declined by 170 bps YoY to 31.9% for the quarter.
VIP Industries
The luggage and travel accessories manufacturer has clocked a 32% year-on-year growth in consolidated profit at Rs 44.1 crore for quarter ended December FY23, driven by healthy topline and operating income. Revenue from operations for the quarter at Rs 526.4 crore grew by 32.5% YoY.
On the operating front, EBIDTA grew by 27.8% YoY to Rs 73 crore and margin fell by half a percentage points to 13.87% for the quarter YoY.
ONGC
The board members have appointed Arun Kumar Singh as Chief Executive Officer (CEO). Accordingly, Singh is designated as Chairman & CEO of the company.
Patanjali Foods
The FMCG company has reported a 16% year-on-year increase in profit at Rs 269.2 crore for December FY23 quarter despite weak operating performance, aided by higher topline, other income and lower finance cost. Revenue grew by 26.2% YoY to Rs 7,927 crore compared to year-ago period. EBITDA was down by 12.4% to Rs 368 crore compared to corresponding period last fiscal.
Chennai Petroleum Corporation P
The company has reported a 752% sequential rise in consolidated profit at Rs 144.2 crore for quarter ended December FY23, driven by healthy operating performance. Consolidated revenue at Rs 16,054 crore for the quarter declined by 18% over previous quarter.
Torrent Pharmaceuticals
The pharma company has reported consolidated profit at Rs 283 crore for quarter ended December FY23, up nearly 14% over a year-ago period, with revenue from operations rising 18.2% YoY to Rs 2,491 crore for the quarter. At the operating level, EBITDA grew by 34.6% YoY to Rs 724 crore with 356 bps expansion in margin for the quarter.
Tata Elxsi
The design and technology services provider has clocked a 29% year-on-year growth in profit at Rs 194.7 crore for quarter ended FY23 despite lower operating margin, supported by revenue and other income. Revenue for the quarter increased by 29% to Rs 817.7 crore compared to same period last fiscal.
SJVN
The company has sold its entire stake in the Bhutanese joint venture company Kholongchhu Hydro Energy (KHEL) as per the directions received from the Government of India. The transaction cost is Rs 354.71 crore. The entire stake of the company was brought by the JV partner Druk Green Power Corporation, Bhutan.
LTIMindtree
The IT services provider has partnered with Duck Creek Technologies, and Microsoft to build a cloud migration solution for insurers. The solution will enable insurers to migrate their on-premises core systems to the cloud in a quick and efficient manner.
Bikaji Foods International
The ethnic snacks company has registered a 195% year-on-year growth in profit at Rs 31.7 crore for December FY23 quarter aided by healthy operating performance. Revenue grew by 15.65% YoY to Rs 507.67 crore for the quarter and operating profit increased by 118% to Rs 52.92 crore. Operating profit margin expanded by nearly 5 percentage points to 10.4% for the quarter YoY
Sundaram-Clayton
The auto components manufacturer has clocked a 14% year-on-year growth in consolidated profit at Rs 288.86 crore for quarter ended December FY23 as revenue grew by 22.5% to Rs 8,475.4 crore and EBITDA increased by 29.3 to Rs 1,047 crore compared to year-ago period. Operating profit margin expanded to 12.35%, from 11.7% in the same period.
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