Trending Stocks: PowerGrid, NTPC, PAYTM, JETAIRWAYS and others in news today

Power
Grid

State-owned Power Grid Corporation of India reported
around an 18% rise in its consolidated net profit at Rs 4,156.44 crore for the
March 2022 quarter, on the back of higher income. The company had reported a
consolidated net profit of Rs 3,526.23 crore in the year-ago period. Total
income during the March quarter increased to Rs 11,067.94 crore compared to Rs
10,816.33 crore recorded in the same quarter of the previous financial year.
The board of the company has also declared an interim dividend of Rs 12.50 per
share for the financial year 2021-22.

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Quarterly
Results on May 23

Zomato, Divis Laboratories, Bharat Electronics,
Birlasoft, TRF, SAIL, Nelcast, Pricol, The Ramco Cement, TTK Healthcare, Patel
Engineering, Igarashi Motors, Graphite India, Data Patterns (India), Shilpa
Medicare, and Vaibhav Global will be in focus ahead of March quarter earnings
on May 23.

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Shree
Cement

Shree Cement reported a 16% decline in standalone net
profit of Rs 645 crore in the March quarter of the fiscal year 2021-22,
compared with Rs 768 crore recorded a year ago. The Rajasthan-based cement
major reported a 3.6% YoY rise in standalone revenues to Rs 4,099 crore as
compared to revenue of Rs Rs 3,958 crore registered in the year-ago quarter.
The company has recommended a final dividend of Rs 45 per equity share of Rs 10
each for the financial year ended March 2022.

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NTPC

State-owned power major NTPC reported a rise of 14% in
its consolidated net profit of Rs 5,167 crore for the March quarter of the
financial year 2022. The company had reported a profit of Rs 4,542 crore in the
year-ago period.

Revenue from operations increased 23.8% to Rs 37,085
crore in March 2022 quarter as against Rs 30,103 crore in the year-ago period.
Total income in the March quarter rose to Rs 37,724.42 crore from Rs 31,687.24
crore in the same quarter of the previous financial year.

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One97
Communications

One97 Communications, the parent company of Paytm,
reported a loss of Rs 762.5 crore for the March quarter of fiscal 2022 compared
with Rs 444.4 crore last year. Revenues grew by 89% YoY to Rs 1,541 crore. The firm
has formed a joint venture general insurance company in which it has committed
to invest Rs 950 crore over a period of 10 years. The proposal to set up joint
venture company Paytm General Insurance Limited (PGIL) was approved by the
board on May 20.

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Jet
Airways

Jet Airways India said it received an air operator
certificate from Directorate General of Civil Aviation to restart commercial
flight operations. Jet Airways is planning to recommence operation in
July-September quarter. Aircraft and fleet plan, network and other details will
be available in phases over the coming weeks.

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Indiabull
Housing Finance Limited

Indiabulls Housing Finance reported an 11% surge in net
profit for the March quarter of 2021-22 at Rs 306.75 crore from Rs 276.23 crore
in the same period in the previous financial year. Revenue from operations
declined by 7.7% to Rs 2,189.31 crore against Rs 2,371.71 crore in the same
period in the previous financial year. Loan book fell by 7.4% to Rs 59,333
crore in the fourth quarter of fiscal 2022 from Rs 64,062 crore in year-ago
period. Gross NPAs stood at 3.21% as on March 31, 2022 compared with 2.66% as
on March 31, 2021. Net NPAs were at 1.89% as on March 31, 2022 compared to 1.59%
a year ago.