Several companies are in focus following their quarterly earnings announcements and corporate disclosures. From sharp turnarounds in profits to regulatory approvals and strategic expansions, here’s a look at the key developments investors are tracking:
Strong quarterly numbers lift spotlight on select stocks
Websol Energy Systems reported a turnaround in performance, posting a net profit of Rs 48.27 crore for the March quarter, compared to a loss of Rs 58.57 crore in the same period last year. Revenue rose significantly to Rs 173 crore from Rs 24.87 crore.
Godrej Industries swung back to profitability, reporting a net profit of Rs 416.13 crore compared to a loss of Rs 24.34 crore in the corresponding quarter last year. Revenue increased to Rs 5,779 crore from Rs 4,567 crore.
Crompton Greaves Consumer posted a net profit of Rs 171.74 crore against Rs 133.43 crore a year earlier, while revenue rose to Rs 2,060 crore from Rs 1,961 crore.
Other earnings highlights include:
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Vishnu Chemicals: Net profit rose to Rs 38.93 crore from Rs 27.73 crore; revenue at Rs 392 crore versus Rs 300 crore
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BLS International: Net profit rose to Rs 135 crore from Rs 80.8 crore; revenue at Rs 693 crore against Rs 450 crore
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Kaynes Technology: Net profit at Rs 116 crore, up from Rs 81.3 crore; revenue at Rs 984 crore versus Rs 673 crore
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Patanjali Foods: Net profit increased to Rs 360 crore from Rs 206 crore; revenue reached Rs 9,690 crore from Rs 8,222 crore
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Abbott India, PB Fintech, and Endurance Technologies also reported improved year-on-year earnings
Corporate updates and approvals
Biocon received approval from the US Food and Drug Administration for its abbreviated new drug application for Rivaroxaban tablets, used in cardiovascular treatment.
Rail Vikas Nigam Limited (RVNL) received a letter of acceptance from Central Railway for a project worth Rs 115.8 crore.
Lupin announced it plans to launch over 80 new products in India and more than 50 in developed markets over the next five years.
Royal Orchid Hotels launched its first property in Dapoli, Ratnagiri district, Maharashtra, under the Regenta Waterfront brand.
KRN Technologies’ subsidiary has been approved for Rs 141.72 crore under the government’s PLI scheme for white goods including air conditioners and LEDs.
Other notable developments
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ASK Automotive announced the start of production at its new manufacturing facility in Bengaluru
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Ceigall India received approval for a merger of its wholly owned subsidiary with C&C Construction
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Infosys extended its strategic collaboration with Norway’s DNB Bank ASA
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Avro India incorporated a wholly owned subsidiary named Avro Recycling Limited
Ex-dividend today
Several companies are trading ex-dividend today, including:
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State Bank of India (Rs 15.90 per share)
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BEML (Rs 15)
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GE Shipping (Rs 5.40)
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Aptech, Manappuram, IEX, Advance Enzyme, Kewal Kiran, Aptus, and Authum also declared dividend payouts
Earnings with muted movement
A few companies reported stable but lower year-on-year growth. These include JSW Energy, LIC Housing Finance, Global Health, Medi Assist Healthcare, Datamatics Global, and NCC.
In addition, some firms like Bikaji Foods, Neuland Labs, and Elpro International reported lower profits and revenues compared to the same period last year. IndusInd Bank is also being tracked closely following reports of accounting-related scrutiny.
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Please consult your financial advisor before making any investment decisions.
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