Trending Stocks: Ashok Leyland, HPCL, Biocon, Eros and others in news today

Ashok Leyland

Hinduja Group’s flagship Ashok Leyland reported a 274%
year-on-year (YoY) jump in net profit at Rs 901.4 crore for the fourth quarter
of fiscal 2022. Total income came in at Rs 8,744.3 crore during the March
quarter, up 24.9% against Rs 7,000.5 crore in the corresponding quarter of the
previous fiscal. Its truck market share for the reported quarter rose to 30.6%
against 28.9% in March 2021 quarter, this is the highest market share seen in
the last 11 quarters.

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Godrej Consumer Products Ltd

Indian FMCG major Godrej Consumer Products Ltd (GCPL)
reported a marginal decline in consolidated profit after tax at Rs 363.24 crore
for the March quarter of fiscal 2022. The company had posted a consolidated
profit after tax of Rs 365.84 crore in the year-ago period. Consolidated
revenue from operations during the March 2022 quarter stood at R 2,915.82 crore
compared with Rs 2,730.74 crore in the year-ago period. GCPL Managing Director and CEO Sudhir Sitapati said, “We delivered a weak
performance in Q4, FY 2022. Overall sales grew by 7% and our full-year sales
grew in double-digits. However, this growth was driven by pricing.” GCPL
said during the March quarter, India sales grew by 9% to Rs 1,604 crore but
volume declined by 3%.

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Hindustan Petroleum Corporation Limited (HPCL)

Hindustan Petroleum Corporation Limited (HPCL) reported a
40% decline in net profit in the March quarter of the financial year 2021-22 as
higher refining margins were wiped away by losses on auto fuel sales. Net
profit stood at Rs 1,795.26 crore in March 2022 quarter compared with Rs
3,017.96 crore in the year-ago period. HPCL has recommended a final dividend of
Rs 14 per share for the financial year 2021-22.

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Gland Pharma

Gland Pharma reported a 10% rise in net profit to Rs
285.90 crore in the quarter ended March 2022 compared with Rs 260.41 crore
during the year-ago period. Net sales grew 24.25% to Rs 1,103.01 crore as
against Rs 887.75 crore in the same quarter of the previous financial year.
EBITDA margin declined sharply to 35% from 40% YoY.

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Biocon

Biocon’s subsidiary Biocon Biologics and Viatris Inc.
announced that Abevmy (bBevacizumab) is now available in Canada. Abevmy is a
biosimilar to Roche’s Avastin (Bevacizumab) and has been approved by Health Canada
across four oncology indications. It is co-developed by Biocon Biologics and
Viatris.

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Eros International

The company board approved raising Rs 405 crore by
issuing 13.50 crore warrants at a price of Rs 30 per share.

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Dhanlaxmi Bank

Private sector bank Dhanlaxmi Bank reported over four
times jump in its net profit at Rs 23.43 crore in the quarter ended March 2022,
following a decline in bad loan ratios and healthy interest income. The bank
had recorded a net profit of Rs 5.28 crore in the year-ago period. The income
during the March 2022 quarter rose to Rs 302.58 crore compared with Rs 233.43
crore in the same quarter of fiscal 2021. Bank’s interest income during the
reported quarter grew by 10.4% to Rs 234.91 crore from Rs 212.77 crore in the
year-ago quarter.