Share Market today: Bajaj Finserv’s net profit in Q4 slump by 77%; ITC becomes top gainer

Advertisement

The closing bell on Thursday saw the market end on a positive note for the third consecutive day with Nifty ending above 9,100 level directed by ITC and auto stocks. Among the market losers, Bajaj Finserv observed a plunge in its consolidated net profit for the fourth quarter ended in March now stands at Rs. 194.4 crores.

ITC shares in the market today surged with 12 points or 7 percent at Rs.188.20 per share on the NSE making it the top gainer in Thursday’s trading session. It recorded the prime one-day gain in almost two months. Followed by Hindalco, Asian Paints, Hero MotoCorp, and Maruti Suzuki in the list of top gainers in the market.

Here is the Q4 results of three highly discussed companies as of May 21, 2020:

  1. Baja FinServ:

The Indian Financial services company, which comes under the Bajaj group, saw a drop in its shares over 3 percent to Rs. 4,533 on the NSE after the release of its fourth-quarter earnings that ended in March. The consolidated net profit of the firm plunged by 77 percent to Rs. 194.4 crore compared to Rs. 839 crore last year in the same quarter. The company’s total insurance business was highly affected in the march quarter owing to the Covid-19 outbreak.

  1. Colgate Palmolive:

The multinational consumer product company reported a 3.3 percent Year-on-Year (YoY) growth at Rs. 204 crores in the fourth quarter ended in March, owing to the lower tax cost. The current Covid-19 situation led to a drop by 7.1 percent to 1,071 in the revenue compared to the fourth quarter last year, said the company in its BSE filing.

  1. Hindustan Zinc:

For the quarter ended in March, Hindustan Zinc, a subsidiary of the Vedanta group, revealed a 33.4 percent regression in its consolidated net profit to Rs. 1,339 crore against Rs 2,012 crore in the corresponding quarter last year. The firm experienced a decline to Rs. 4,861 in its total income in the Jan-March quarter. The company’s shares closed at 169, down by 1 percent in Thursday’s trading session.

Subscribe to our newsletter
Subscribe to our newsletter
Sign up here to get the latest news delivered directly to your inbox.
You can unsubscribe at any time