The Indian Indices ended on a high note with both Nifty and Sensex on the green side. Nifty ended at a high with 175 points or 2 percent at 9,490. Similarly, Sensex closed at 32,200.5 with 595.3 points, up 2 percent. TVS motors in its fourth-quarter results showed a decline in its net profit at Rs 73.87 crore.
Today’s trading session gains were carried by private banks and auto. Moreover, Zee Entertainment became the top gainer with shares up by 10.
May 28, Fourth quarter of three specific companies:
- TVS Motors:
The company reported a drop in its standalone net profit for the quarter four ended in March. The firm faced a 44.82 percent year-on-year (YoY) fall in the net profit at Rs 74 crore owing to the regression in sales. The revenue from operations stands at 3,481 crore against 4,384 crore in the same quarter last fiscal. As per the results, the company cut its expenses for the quarter by 20% and will continue with cost reduction methods.
- Radico Khaitan:
The Industrial Alcohol company reported a drop in its consolidated net profit by 20 percent at Rs 32.67 crore in the fourth quarter. Whereas it reported a net profit of Rs 40.94 crore in the same quarter in FY19. Though, the company’s revenue from operations surged by 11.6 percent at Rs. 2,209 crore during the quarter under review as compared to Rs. 1,978 crore the previous year. However, driven by volume growth in Indian Made Foreign Liquor (IMFL). The firm’s total expense in this fiscal stood at Rs 2,148,67 crore, 11.6 percent high.
- Prism Cement:
The company faced a net loss at Rs. 30.75 crore in the fourth quarter ended in March. This was against Rs. 41.85 crore in the same quarter last fiscal. Moreover, the company faced a drop of 15.5 percent in the net sales at Rs. 1,483 crore compared to Rs. 1,775 crore in the FY19.