Trending Stocks: IndusInd Bank, Havells, NHPC and others in news today

IndusInd Bank

The private sector lender reported a 57% year-on-year rise in July-September standalone net profit to Rs 1,805.22 crore driven by a rise in loan disbursement and net interest income. Net interest income rose 18% year-on-year and 4% quarter-on-quarter to Rs 4,302 crore. The bank’s net interest margin was 4.24%, up 17 bps YoY and 3 bps QoQ. Pre-provision operating profit increased 10% YoY to Rs 3,544 crore.

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Bharat Electronics

Electric vehicle maker Triton Electric India, a subsidiary of Triton Electric Vehicle LLC, USA, has issued a Letter of Intent to defence public sector unit (PSU) Bharat Electronics for the procurement of 300 KW Lithium-ion battery packs for its semi-truck project in India at a value of Rs 8,060 crore. The battery packs will be delivered by the company to Triton in 24 months commencing from January 2023.

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Havells India

The electric equipment maker reported a 38.15% decline in consolidated net profit to Rs 187.01 crore for the second quarter ended on September 30, 2022, as commodity inflation hit its margins. Havells’ revenue from operations rose by 13.63% to Rs 3,679.49 crore during the reported quarter as against Rs 3,238.04 crore in the corresponding period last financial year. Its total expenses stood at Rs 3,471.57 crore, up 21.10% during the period as against Rs 2,866.54 crore in the year-ago period.

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Syngene International

The integrated research, development, and manufacturing services firm reported a 53% growth in consolidated net profit at Rs 102 crore in the second quarter ended September 2022 on the back of higher revenue. It posted a consolidated net profit of Rs 66.7 crore in the same quarter last financial year. Consolidated revenue from operations during the reported quarter stood at Rs 768.1 crore as against Rs 610.2 crore in the year-ago period.

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AU Small Finance Bank

The Jaipur-based lender reported a 23% jump in its net profit at Rs 343 crore in the July-September quarter on healthy growth in loan disbursals helped by a consistent decline in bad loans. It had posted a profit of Rs 279 crore in the year-ago period. The bank’s net interest income rose by 44% to Rs 1,083 crore during quarter under review, as against Rs 753 crore in same quarter of FY22. Total income of the bank grew by 40.3% at Rs 2,240 crore as against Rs 1,597 crore.

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Inox Leisure

The multiplex chain operator reported a decline in its consolidated net loss to Rs 40.37 crore for the second quarter that ended on September 30, 2022, helped by rising footfalls at cinema halls. The company had reported a net loss of Rs 87.66 crore in the year-ago period. Its revenue from operations during the quarter under review was at Rs 374.12 crore as against Rs 47.44 crore in same quarter last fiscal year. Inox Leisure added two new properties with 13 screens in the July-September quarter. During the period, 11.6 million guests visited Inox cinemas.

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5paisa Capital

The company reported a 672% year-on-year rise in consolidated profit at Rs 10.74 crore in the quarter ended September for the financial year 2022-23, driven by strong operating performance and lower expenses. Revenue increased by 17% to Rs 79.54 crore compared to corresponding quarter last year.

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NHPC

Life Insurance Corporation of India (LIC) has sold a 2.02% stake in the company through open market transactions. With this development, LIC’s shareholding in the company decreased to 5.2%, down from 7.23% earlier.

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Persistent Systems

The IT services company reported a 4% quarter-on-quarter rise in profit at Rs 220 crore for the quarter ended September 30 of fiscal 2023. Revenue grew 9.2% QoQ to Rs 2,048.6 crore. Revenue in dollar terms grew 5.8% QoQ to $255.56 million and constant currency growth was 6.6% QoQ. The order booking for the quarter stood at $367.8 million in total contract value (TCV) and at $271.2 million in annual contract value (ACV).