Trending Stocks: BPCL, SBI, Nykaa, Paytm and others in news today
- BPCL reported a standalone loss of Rs 6.290.80 crore for June quarter
- SBI posted a 6.7% year-on-year decline in profit at Rs 6,068 crore
- Nykaa posted a 42.24% YoY increase in profit at Rs 5.01 crore
Bharat Petroleum Corporation
The oil marketing company reported a standalone loss of Rs 6.290.80 crore for the quarter ended June 30, 2022, compared to a profit of Rs 3,192.58 crore in the same quarter of the previous financial year, impacted by an increase in input cost. Revenue from operating surged by 54% year-on-year to Rs 1.38 lakh crore for the April-June quarter. The average gross refining margin (GRM) of the Corporation for the quarter was $27.51 per barrel against $4.12 per barrel in the first quarter as the suppressed marketing margins of certain petroleum products have offset the benefit of higher GRM.
State Bank of India
The country’s largest lender posted a 6.7% year-on-year decline in profit at Rs 6,068 crore for the quarter ended June 30, 2022, impacted by lower operating profit and other income, though supported by lower provisions. Net interest income during the April-June period rose 12.87% year-on-year to Rs 31,196 crore. However, operating profit declined 32.8% year-on-year to Rs 12,753 crore and other income plunged 80% year-on-year to Rs 2,312 crore for the reported quarter. Loan loss provisions declined 15.14% to Rs 4,268 crore.
FSN E-Commerce Ventures (Nykaa)
The parent of Nykaa posted a 42.24% year-on-year increase in consolidated profit at Rs 5.01 crore for the quarter ended June 30, 2022, aided by better topline and operating performance of the cosmetics-to-fashion retailer. Revenue from operations for the period came in at Rs 1,148.4 crore, reporting a 40.56% growth compared to the same quarter of the previous financial year. The consolidated gross merchandise value (GMV) has been quite strong and has grown 47% year-on-year to Rs 2,155.8 crore for the reported quarter.
Also Read | Amazon to acquire Roomba makers for $1.7 billion
Hindustan Petroleum Corporation
The oil retailing company reported a big loss of Rs 10,197 crore for the quarter ended June 30, 2022, against a profit of Rs 1,795 crore for the same period last year. Results were impacted by erosion in the marketing margin on motor fuels and LPG. Revenue surged 56% year-on-year to Rs 1.22 lakh crore during the reported period.
Also Read | How inflation affects RBI’s interest rate policy
The FMCG firm reported a 3.3% year-on-year increase in consolidated profit at Rs 377 crore for the April to June quarter of fiscal 2023, on the back of higher operating performance. Revenue grew by 1.3% year-on-year to Rs 2,558 crore. EBITDA grew by 9.77% to Rs 528 crore compared to the same quarter of the previous financial year.
One 97 Communications (Paytm)
The digital payments platform operator Paytm has reported a consolidated loss of Rs 645.4 crore for the quarter ended June 30, 2023, widening from a loss of Rs 381.9 crore in the corresponding quarter of the previous fiscal. Revenue from operations rose by 88.5% to Rs 1,679.60 crore during the reported quarter.
Also Read | Why interest rates are being hiked globally?
The company posted a consolidated profit of Rs 81 crore for the quarter ended June fiscal 2023 against a loss of Rs 157 crore in the corresponding period last financial year. The previous year's quarter was affected by the second COVID wave. Revenue grew 104% year-on-year to Rs 1,754 crore for the June quarter of fiscal 2023.
Maruti Suzuki India
Life Insurance Corporation of India (LIC) sold a 2.015% stake or 60.88 lakh equity shares in the country’s largest car maker through open market transactions. With this, LIC’s stake in the company reduced to 4.2%, down from 6.22% earlier.