Results on January 24: Bajaj Auto, Tata Steel, Tech Mahindra, TVS Motor Company, Canara Bank, DLF, Indian Oil Corporation, Aarti Drugs, Balkrishna Industries, Bharat Dynamics, Birlasoft, CARE Ratings, Ceat, Chalet Hotels, CMS Info Systems, Container Corporation of India, Dalmia Bharat, DCB Bank, Exide Industries, Indian Bank, Indian Overseas Bank, Kolte-Patil Developers, Laurus Labs, Motilal Oswal Financial Services, PNB Housing Finance, Quick Heal Technologies, RailTel Corporation of India, Rainbow Children's Medicare, UCO Bank, and Ujjivan Small Finance Bank will be in focus ahead of quarterly earnings on January 24.
2/22
Tata Elxsi: The design-led technology services provider has registered net profit at Rs 206.4 crore for the October-December quarter of FY24, growing 3.2 percent over the previous quarter despite pressure in operating margin. Revenue from operations grew by 3.7 percent sequentially to Rs 914.2 crore in Q3 FY24, with transportation segment growth at 2.7 percent QoQ, healthcare at 4.6 percent, media and communications at 0.6 percent, industrial design at 12.3 percent, and system integration services segment growth at 14.7 percent for the quarter.
3/22
United Spirits: The beverage alcohol company has recorded 63.5 percent on-year growth in consolidated net profit at Rs 350.2 crore for the quarter ended December FY24, driven by healthy operating margin performance. Consolidated revenue from operations in Q3 FY24 grew by 8 percent to Rs 3,002 crore compared to the year-ago period.
4/22
Mahindra & Mahindra Financial Services: The non-banking finance company has received approval from the board to issue secured NCDs worth Rs 3,000 crore on a private placement basis. The issue included the base issue size of up to Rs 500 crore and the green shoe of up to Rs 2,500 crore, at a face value of Rs 1 lakh per debenture.
Pidilite Industries: The adhesives, sealants, and construction chemicals manufacturer has recorded a massive 66 percent on-year growth in consolidated profit at Rs 511 crore for the quarter ended December FY24, backed by robust operating numbers. Revenue from operations grew by 4.4 percent YoY to Rs 3,130 crore for the quarter.
6/22
L&T Finance Holdings: The non-banking finance company has reported consolidated net profit of Rs 640 crore for the October–December period of FY24, growing 41 percent over the year-ago period. Net interest income grew by 8 percent year-on-year to Rs 1,833 crore for the quarter. The company has appointed Sudipta Roy as the Managing Director and Chief Executive Officer of the company for five years, with effect from January 24.
7/22
Lupin: The pharma company has received tentative approval from the United States Food and Drug Administration (US FDA) for its abbreviated new drug application for Rivaroxaban tablets USP, 2.5 mg, 10 mg, 15 mg, and 20 mg, to market in the US. Rivaroxaban tablets, a generic equivalent of Xarelto tablets from Janssen Pharmaceuticals, Inc., had estimated annual sales of $8,249 million in the US, as per IQVIA MAT November 2023. Rivaroxaban is used to prevent blood clots from forming due to a certain irregular heartbeat.
8/22
AU Small Finance Bank: The Competition Commission of India has approved the amalgamation of Fincare Small Finance Bank into and with AU Small Finance Bank. The said amalgamation is subject to the approval of the Reserve Bank of India.
JSW Energy: The power-producing company has clocked 28.8 percent on-year growth in consolidated net profit at Rs 231.3 crore for the quarter ended December FY24, backed by robust operating performance and a fall in fuel costs. Revenue from operations increased by 13.1 percent YoY to Rs 2,542.8 crore during the quarter.
10/22
Axis Bank: The private sector lender has recorded a 3.7 percent on-year growth in net profit at Rs 6,071.1 crore for the quarter ended December FY24, with stable asset quality. Net interest income during the quarter grew by 9.4 percent to Rs 12,532 crore compared to the year-ago period, with a net interest margin of 4.01 percent for the quarter. On the asset quality front, gross NPA fell 15 basis points QoQ to 1.58 percent for the quarter, and net NPA was flat at 0.36 percent on a sequential basis.
11/22
Havells India: The electric equipment products manufacturer has registered a 1.4 percent on-year growth in net profit at Rs 287.9 crore for the quarter ended December FY24, with weak operating numbers. Revenue from operations grew by 6.8 percent year-on-year to Rs 4,400.6 crore for the quarter.
12/22
Glenmark Life Sciences: The pharma company has clocked 13.1 percent on-year growth in net profit at Rs 118.8 crore for the quarter ended December FY24, driven by healthy operating performance. Revenue from operations for the quarter increased by 5.9 percent to Rs 572.8 crore compared to the year-ago period.
13/22
Karnataka Bank: The lender has recorded a 10.1 percent on-year growth in net profit at Rs 331.08 crore for the October–December period of FY24, with a fall in provisions for bad loans and an increase in other income. Net interest income fell 0.86 percent year-on-year to Rs 827.6 crore for the quarter. Asset quality weakened with the gross NPA rising 17 bps sequentially to 3.64 percent and the net NPA increasing 19 bps QoQ to 1.55 percent in Q3 FY24.
14/22
Indus Towers: The mobile tower installation company has recorded a 19 percent sequential increase in net profit at Rs 1,540.5 crore for the quarter ended December FY24, with healthy operating margin performance. In Q3 FY23, it had a net loss of Rs 708.2 crore. Revenue grew by 0.9 percent QoQ and 6.4 percent year-on-year to Rs 7,199 crore during the quarter. In Q3 FY23, other expenses included Rs 2,270 crore on account of allowances for doubtful receivables, and there was also an exceptional loss of Rs 492.8 crore.
15/22
Mahanagar Gas: The natural gas distribution company has registered an 84.33 percent on-year growth in consolidated net profit at Rs 317.2 crore for the October–December FY24 quarter on the lower cost of natural gas and traded items. Revenue from operations (excluding excise duty) fell 6.1 percent year-on-year to Rs 1,568.8 crore for the quarter.
16/22
Route Mobile: The cloud communication platform service provider has registered a 33 percent year-on-year increase in net profit at Rs 113.6 crore for the October-December quarter of FY24, despite muted operating numbers, supported by an exceptional gain of Rs 15 crore. Revenue from operations increased nearly 4 percent YoY to Rs 1,024.3 crore for the quarter.
17/22
Rallis India: The Tata Group company has reported a 9.09 percent year-on-year increase in net profit at Rs 24 crore for the quarter ended December FY24, despite a fall in topline, supported by healthy operating numbers. Revenue during the quarter fell by 5.08 percent year-on-year to Rs 598 crore in Q3 FY24.
18/22
Sona BLW Precision Forgings: The automotive technology company has registered a 24 percent year-on-year growth in consolidated net profit at Rs 132.7 crore for the quarter ended December FY24. Revenue from operations during the same period increased by 15.8 percent YoY to Rs 781.8 crore.
19/22
Tanla Platforms: The CPaaS provider has recorded a 20.3 percent on-year growth in net profit at Rs 140.1 crore for the October-December period of FY24, with a net profit margin of 14 percent. Revenue from operations during the quarter rose by 15.3 percent YoY to Rs 1,002.6 crore.
20/22
Medi Assist Healthcare Services: TNTBC as the Trustee of Nomura India Stock Mother Fund, Canara Robeco Mutual Fund, BNP Paribas Arbitrage, Goldman Sachs Funds-Goldman Sachs India Equity Portfolio, and Whiteoak Capital Mutual Fund bought 48,53,701 equity shares, equivalent to 7.05 percent of total paid-up equity, in the healthcare third-party administrator, amounting to Rs 230.8 crore.
21/22
UFO Moviez India: The in-cinema advertising network announced a strategic partnership with TSR Films, a leading digital cinema integrator based out of Chennai. This strategic collaboration grants UFO Moviez exclusive advertising screen rights across TSR’s extensive network of over 403 screens.
22/22
Religare Enterprises: The Competition Commission of India has given its nod to the acquisition of 5.27 percent of Religare Enterprises by entities linked to the Burman family, which owns FMCG major Dabur India.
