Trending Stocks: Hindalco, Coal India, Glenmark and others in news today

Hindalco Industries (HINDALCO)

The flagship company of Aditya Birla Group reported a 47.8% year-on-year increase in consolidated net profit to Rs 4,119 crore in the April-June quarter of fiscal 2023, against Rs 2,787 crore in the year-ago period. Consolidated revenue grew 40.35% year-on-year to Rs 58,018 crore, compared to a revenue of Rs 41,358 crore posted in the corresponding quarter last year. Consolidated EBITDA for the quarter stood at Rs 8,640 crore, up 27% over the year-ago period and the highest ever in any quarter.

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Coal India (COALINDIA)

The state-owned coal major reported a 178% year-on-year growth in consolidated profit at Rs 8,834.22 crore for the quarter ended June 30, 2022, on a low base. The year-ago period was affected by the second Covid wave. Revenue increased 39% to Rs 35,092 crore compared to the corresponding quarter of previous financial year. The country’s largest coal mining company produced 159.75 million tonnes of raw coal, up 29% year-on-year and its offtake of raw coal increased by 10.6% year-on-year to Rs 177.49 million tonnes for the quarter ended April-June quarter of fiscal 2023.

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Glenmark Pharmaceuticals (GLENMARK)

The company reported a 31% decline in net profit for the first quarter of the fiscal 2023 to Rs 211.1 crore. Consolidated revenues slipped 6% to Rs 2,777.3 crore from Rs 2,965 crore in the same quarter of previous financial year. Adjusted EBITDA was Rs 472.6 crore in the reported quarter as against Rs 573.6 crore in the corresponding quarter. The reported EBITDA was Rs 431.6 crore in the quarter ended June 30, 2022, with margins of 15.5%.

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Tata Consumer Products (TATACONSUM)

The Tata Group firm reported a 38% year-on-year growth in profit at Rs 277 crore for the first quarter of the financial year 2022-23. Revenue grew 11% to Rs 3,327 crore and EBITDA increased 14% to Rs 460 crore compared to the year-ago period. Revenue in constant currency terms grew 10% year-on-year.

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Eicher Motors (EICHERMOT)

The who-wheeler and commercial vehicle company posted a 157.5% year-on-year growth in consolidated profit at Rs 610.66 crore for the quarter ended June 30, 2022, supported by a low base. Earnings in the corresponding quarter were affected by the second wave of Covid-19. Revenue jumped 72% to Rs 3,397.5 crore compared to the same quarter of previous financial year.

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Oil India (OIL)

The oil major reported a 166% year-on-year growth in consolidated profit at Rs 3,230 crore in the April-June quarter of fiscal 2023. Revenue increased by 86.5% to Rs 11,567 crore in the first quarter, compared to Rs 6,202 crore in the same period last year.

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Steel Authority of India (SAIL)

SAIL posted a 79% year-on-year fall in consolidated net profit to Rs 804.50 crore during the April-June quarter dragged by higher expenses. It has reported a net profit of Rs 3,897.36 crore in the April-June period of the 2021-22 fiscal. Total income rose to Rs 24,199.51 crore from Rs 20,754 crore in the year-ago period.

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Indian Railway Catering and Tourism Corporation (IRCTC)

The company recorded a 198% year-on-year growth in profit at Rs 245.52 crore for the quarter ended June 30, 2022, with normalization of business, supported by a low base. The year-ago period was affected by the second wave of Covid-19. Revenue increased 250% to Rs 852.60 crore compared to the corresponding quarter of previous fiscal.

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Mahindra & Mahindra (M&M)

Life Insurance Corporation of India (LIC) sold a 2% stake or 2.49 crore equity shares in the automobile company through open market transactions. With this, LIC’s in the company stands decreased by 6.42%, down from 8.43% earlier.

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CESC

The company reported posted a 6% year-on-year growth in consolidated profit at Rs 297 crore for the quarter ended June 30, 2022, impacted by the cost of fuel and electricity purchased but supported by revenue, regulatory income and low tax cost. Revenue surged 27.5% to Rs 4,102 crore compared to the corresponding quarter of the previous fiscal.

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PB Fintech (POLICYBZR)

The parent of Policybazaar reported a consolidated loss of Rs 204.33 crore for the April-June quarter of fiscal 2023, widening from a loss of Rs 110.84 crore in the year-ago period, due to weak operating performance. The company has reported a sharp increase in employee expenses, advertising, and promotion expenses for the quarter. EBITDA loss widened almost two-fold to Rs 234.3 crore for the first quarter, against a loss of Rs 118.35 crore in the same quarter of the previous financial year. Revenue from operations stood at Rs 505.2 crore, increasing 112.5% compared to Rs 238 crore reported in the year-ago quarter.