Trending Stocks: Ashok Leyland, HPCL, Biocon, Eros and others in news today
- Ashok Leyland reported a 274% jump in net profit at Rs 901.4 crore
- Godrej Consumer reported net profit of Rs 363.24 crore
- Biocon and Viatris announced that Abevmy is now available in Canada
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.
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%.
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.
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.
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.
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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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.