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The February Nifty 50 futures contract sold on the Singapore Exchange forecasts a dismal start for local markets. The contract was worth $17,905, down 22.5 points or 0.13% from its previous close.
Eicher Motors: The two-wheeler manufacturer reported a higher-than-expected 62.4 percent year-on-year (YoY) increase in profit for the December quarter (Q3 FY23), aided by increased motorcycle sales. Royal Enfield sales, which account for the majority of Eicher’s income, increased 31% to 2.1 lakh units.
Siemens: Due to higher revenues, the company increased its consolidated net profit by 85% year on year to Rs 462.7 crore in the third quarter of FY23.The company’s net profit in the previous year was Rs 250 crore. Meanwhile, total income increased to Rs 4,116.8 crore in Q3 FY23 from Rs 3,480.9 crore in Q3 FY22.
Vodafone-Idea: Vodafone Idea’s net loss increased 10.5 percent year on year to Rs 7,990 crore in Q3FY23, owing to increases in operational expenditures and financing charges. The net loss increased by 5.2 percent sequentially. Gross revenue, on the other hand, increased 9.2 percent year on year to Rs 10,620 crore during the quarter.
ONGC: ONGC’s net profit increased 6% year on year to Rs 11,045 crore in the third fiscal quarter of FY23, mainly due to higher gas prices under the managed pricing system (APM). Gross revenues increased 35.5 percent year on year to Rs 38,584 crore in Q3FY23, up from Rs 28,474 crore.
Apollo Hospitals: The company’s consolidated net profit fell 33% to Rs 153 crore in Q3FY23 from Rs 228 crore in Q3FY22. Revenues, on the other hand, increased 19% year on year to Rs 4,264 crore in Q3 FY23, from Rs 3,639 crore the previous year. In addition, the company declared an interim dividend of Rs 6 per share.
Torrent Power: The company’s consolidated net profit increased by 88% year on year to Rs 694.54 crore in Q3 FY23, owing to greater income. Meanwhile, total income increased to Rs 6,526.44 crore in the December quarter from Rs 3,833.14 crore the previous year.
Bharat Forge: The auto components company’s consolidated net profit fell 81.35 percent year on year to Rs 78.72 crore in Q3FY23, from Rs 422 crore in Q3FY22. Aside from that, overall costs were Rs 3,178.9 crore, up from Rs 2,093.39 crore in the previous quarter.
NMDC: NMDC’s consolidated net profit more than halved to Rs 903.89 crore in Q3 FY23, owing mostly to reduced income. The mining company’s overall income fell to Rs 3,924.75 crore from Rs 6,026.68 crore in the previous quarter.
Bata: The footwear manufacturer recorded a 15% YoY growth in overall net profit in Q3FY23, to Rs 83.19 crore, up from Rs 72.32 crore in the same period last year. Consolidated revenue from operations increased to Rs 900.21 crore, up from Rs 841.3 crore the previous year.
