Trending Stocks: Bharti Airtel, Power Grid, NALCO and others in news today
- Bharti Airtel reported a 467% YoY growth in profit at Rs 1,606.9 crore
- Power Grid posted a 37% decline in consolidated profit at Rs 3,801 crore
- NALCO posted a 60.5% YoY growth in consolidated profit at Rs 558 crore
The telecom operator reported a 467% year-on-year growth in profit at Rs 1,606.9 crore for the quarter ended June 30, 2022. Revenue surged 22.2% to Rs 32,804.6 crore and EBITDA increased 26% to Rs 16,604.40 crore as against the corresponding quarter of the previous fiscal. EBITDA margin expanded by 150 bps year-on-year to 50.6% in the reported quarter.
Power Grid Corporation of India
The company posted a 37% year-on-year decline in consolidated profit at Rs 3,801 crore in the April-June quarter of fiscal 2023 on a high base. Profit in the year-ago period was boosted by exceptional gain. Revenue surged by 6.7% to Rs 10,905.21 crore compared to the same quarter of previous financial year.
The aluminum major posted a 60.5% year-on-year growth in consolidated profit at Rs 558 crore for the first quarter of the financial year 2022-23 driven by strong top line as well as operating performance, though power and fuel costs increased significantly. Revenue increased by 53% year-on-year to Rs 3,783.32 crore in the reported quarter.
The company reported a 142% year-on-year growth in consolidated profit at Rs 502 crore in the quarter ended June 30, fiscal 2023, led by a healthy top line, operating income, and other income. Revenue jumped 110% to Rs 6,510 crore compared to the corresponding quarter of the previous fiscal. Profitability was supported by an increase in contribution from renewable generation, gain from trading of LNG, improved performance of licensed distribution businesses, and increase in contribution from franchised distribution business.
Whirlpool of India
The company clocked a 232% year-on-year growth in consolidated profit at Rs 84.6 crore for the April-June quarter of fiscal 2023, supported by a low base. Profit in the year-ago period was affected by the second wave of Covid-19. Revenue grew 55% to Rs 2,081 crore compared to the same period last year.
The company reported a 72% rise in June quarter net profit to Rs 420.86 crore on the back of a rise in sales volumes. Net profit in the year-ago period was Rs 244.29 crore. The total gross sales value during the quarter has moved to Rs 3,519 crore compared to Rs 1,372 crore, showing a growth of 157%.
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The company reported an 86.25% increase in consolidated net profit at Rs 637 crore during the quarter ending June. Net profit in the corresponding quarter of the previous fiscal stood at Rs 342 crore. Revenue from operations of the company went up by 34.15% during the reported quarter at Rs 3,995 crore compared to Rs 2,978 crore in the same period of last fiscal.
The company reported a multifold rise in consolidated net profit to Rs 320.4 crore for the first quarter of fiscal 2023, on higher revenue from the pharmaceutical vertical. The company had posted a consolidated net profit of Rs 75 crore in the same period last fiscal. Consolidated revenue from operations stood at Rs 884.6 crore compared to Rs 410.3 crore in the same period of previous financial year.
Samvardhana Motherson International
The company reported a 51% year-on-year fall in consolidated profit at Rs 181.55 crore during the quarter ended June 30, impacted by weak operating performance. Revenue jumped 9% to Rs 17,614.4 crore compared to the corresponding quarter of previous fiscal. The company board has approved fundraising of Rs 1,000 crore by issuing non-convertible debentures, on a private placement basis, in one or more series or tranches.
The company posted a consolidated profit of Rs 180.84 crore for April-June quarter of fiscal 2023, against a loss of Rs 301.58 crore impacted by the second COVID wave in the same period of previous financial year. Revenue increased by 267.5% to Rs 1,266 crore as against the year-ago period on a low base.
Strides Pharma Science
The US Food and Drug Administration has finished an inspection of the company’s Singapore facility, with 483 observations. Its formulation facility in Singapore underwent a USFDA inspection that was completed on August 8. The US is one of the key focus markets for Strides and the company has given a growth outlook of $250 million in fiscal 2023 for the US business. The company has set a target to launch 20 new products every year in the US.
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The company reported a consolidated loss of Rs 399.34 crore for the quarter ended June 30, 2022, widening from a loss of Rs 129.58 crore in the corresponding quarter of previous financial year on loss at the operating level. Revenue surged by 32.5% to Rs 1,745.7 crore compared to the same period last year.