BUSINESS UPDATE
Marico Q1 Update: Modest increase in volume growth on improved demand
Parachute oil maker Marico on Friday said sales volume growth at home saw a modest increase in the first quarter ended June 30 as demand improved gradually with consumers spending more on personal care and cooking products.
Dabur Q1 Update: Consol revenue may grow by mid-to-high single-digit
Travel and out-of-home consumption were impacted by the hot summer, affecting beverage sales, but the culinary category performed well, according to the filing. Dabur noted that 'Badshah Masala' continued to do well, with expected high-teen volume growth.
Adani Wilmar Q1 Update: Volumes grow 13% YoY on sustained market-specific strategies
Leveraging its strong product portfolio, the company is actively expanding its general trade presence through robust sales and distribution strategies. Additionally, it has experienced significant growth in alternate channels such as e-commerce, quick commerce, and modern trade, achieving a 19% year-on-year volume increase in the first quarter.
Titan Q1 Update: Business grows 9% YoY; company adds 61 stores
Domestic jewellery sales grew 8% year-on-year, boosted by double-digit growth during Akshaya Tritiya. However, high gold prices and fewer wedding days dampened consumer demand compared to the previous quarter. Growth was primarily driven by increased average selling prices, while buyer growth remained in low single-digits. Tanishq expanded internationally with a new store in Muscat.
Sensex falls! These stocks are down 5% or more on BSE
In the Nifty pack, 33 stocks were trading in the green, while 17 stocks were trading in the red.
Bajaj Finance Q1 Update: New loans rise 10% YoY; AUM jumps 31% to Rs 3,54,100 crore
In its quarterly update announced on Wednesday after market hours, Bajaj Finance stated that it has resumed loan sanctions and disbursals under the ‘eCOM’ and ‘Insta EMI Card’ programs, as well as the issuance of EMI cards, following the RBI's removal of restrictions on these activities on May 2, 2024.
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Avenue Supermarts Q1 Update: Standalone revenue jumps 18% YoY to Rs 13,712 crore
Avenue Supermarts, owner of DMart, reported a 22.4% increase in consolidated net profit to Rs 563 crore for the quarter ended March 2024, driven by a 20% YoY jump in revenue to Rs 12,727 crore. The company also witnessed a 22.3% YoY growth in EBITDA to Rs 943 crore, with operating profit margins expanding by 13 basis points to 7.41%.
Apollo Hospitals Q4 Results: Net profit soars 77% YoY to Rs 258 crore; revenue jumps 15%
Apollo Hospitals Q4 Results: Revenue from operations for the January-March 2024 period increased 15% YoY to Rs 4,944 crore. The company's board has recommended a final dividend of Rs 10 per share for FY24. EBITDA for the fourth quarter stood at Rs 640 crore in the reporting March quarter, compared with Rs 488 crore in the same quarter a year earlier.
Samsung Galaxy F55 5G with AI features launched at Rs 24,999
Samsung announced the Galaxy F55 5G with premium features like AMOLED display, 45W fast charging, and Snapdragon 7 Gen 1 processor. It offers 50 MP No Shake Camera and will be available on Flipkart and retail stores.
LIC Q4 Results: Cons PAT jumps 4.5% YoY to Rs 13,782 cr; dividend declared at Rs 6 per share
LIC Q4 Results: The company had reported a net profit of Rs 13,191 crore in the corresponding period of the last financial year. The Total Premium Income for the year ended March 31, 2024, was reported at Rs 4,75,070 crore. It was Rs 4,74,005 crore for the year ended March 31 2023. The Total Individual Business Premium for the financial year increased to Rs 3,03,768 crore from Rs 2,92,763 crore reported for the comparable period of the previous year.
ITC Demerger: IiAS advises shareholders to vote against splitting of hotels business
IiAS does not see any substantial value unlocking for ITC’s hotel business and thus recommends shareholders to vote against the proposed demerger of the business. The advisory firm called it a lack of clarity on the part of the board of directors on the plan for the 40% holding in the hotels business.
Glenmark Pharma Q4 Results: Net loss widens to Rs 121 crore YoY
Glenmark Pharma Q4 Results: The rise in loss was on account of declining sales in the US and exceptional items. It had reported a net loss of Rs 34.5 crore in the corresponding quarter of the previous year. In FY24, Glenmark's consolidated revenue reached Rs. 11,813 crore, a 2% increase year-over-year. The company's EBITDA margin for the fiscal year was 10.1%, primarily due to a one-time impact on sales in the India business during the third quarter.
ITC Q4 Results: Net profit drops marginally to Rs 5,020 crore
Revenue from operations went up by 1.4% at Rs 17,752.87 crore in the period under review. The company said excluding the agri-business (which was severely impacted due to government restrictions in trade of agri-commodities), the company’s gross revenue during the fourth quarter has gone up by 6% y-o-y.
Grasim Q4 Results: Net profit jumps 39% YoY to Rs 1,908 crore; revenue rises 13%
Grasim Q4 Results: The net profit stood at Rs 1,369 crore in the last year quarter. Revenue from operations increased 13% year-on-year to Rs 37,727 crore in the reporting period, compared with Rs 4,873 crore in the corresponding period of previous year.
Nykaa Q4 Results: Profit zooms 187% YoY to Rs 6.9 crore; revenue rises 28%
Nykaa Q4 Results: The consolidated net profit stood at Rs 2.4 crore in the last-year period. The company's board has approved an investment of Rs 20 crore in FSN International, a wholly-owned subsidiary, on a rights basis.
Eris Lifesciences Q4 Results: Net profit jumps over 29% to Rs 80 crore
The Ahmedabad-based drug maker reported a net profit of Rs 61.5 crore during the corresponding quarter of the previous year. Revenue of Q4FY 24 grew by 37% YoY to Rs 551 crore. The net debt on March 31 stood at Rs 2700 crore.
JB Pharma Q4 Results: Net profit jumps 43% YoY to Rs 126 crore
The Mumbai-based company reported operating earnings before interest, taxes, depreciation and amortisation (EBITDA) at Rs 210 crore, up from Rs 181 crore in the year-ago period. The operating EBITDA margin improved 60 basis points YoY to 24.4%.
Zydus Lifesciences Q4 Results: Drug makers posts threefold YoY jump in net profit to Rs 1,182 crore
Zydus Lifesciences on Friday reported Rs 1,182 crore net profit in Q4FY24, a threefold year-on-year (YoY) jump led by growth in US, India, Europe and emerging market sales.
Biocon Q4 Results: Net profit drops 57% to Rs 136 crore
Total revenue grew 1% YoY to Rs 3,966 crore. EBITDA for the quarter declined 16% YoY to Rs 964 crore, representing an EBITDA margin of 24% versus 29% in the same period last year. The gross R&D spends declined 36% YoY to Rs 228 crore in Q4FY24.
TBO Tek sees robust listing. What should investors do now?
TBO Tek strong listing can be attributed to the unwavering investor confidence in the company’s solid technological foundation and its potential for continued growth in the online travel sector.
Walmart to lay off hundreds of corporate staff, relocate others, source says
Workers at the U.S. retail giant's smaller offices in Dallas, Atlanta and Toronto are being asked to move to other central hubs such as Walmart's corporate base in Bentonville, Arkansas, as well as Hoboken, New Jersey, or Sunnyvale, California, the source told Reuters. Walmart will close those smaller hubs later this year, the source added.
Karur Vysya Bank Q4 Results: Net profit jumps 35% YoY to Rs 456 crore
The bank's net interest income for the quarter improved 11.5% to Rs 996 crore while other income was 57% higher at Rs 629 crore. The net interest margin for the quarter, however, was at 4.19%, down 18 basis points from 4.37% a year ago.
Paytm shares hit 5% upper circuit on dip buying
Paytm Share Price: The stock, which stooped to a new all-time low of Rs 310 on Wednesday, witnessed a reversal on Thursday amid strong volumes with over 88 lakh shares getting traded on the NSE around 12:20 pm.
Sonata loses tempo on weak demand; mid-term view hazy
With over $ 1 billion or Rs 8,613 crore in FY24 revenue, Sonata generates over two-third of revenue from the domestic products licensing and related services and the remaining from the international IT services across verticals including travel, manufacturing, retail, healthcare, and banking, financial services and insurance.
CreditAccess Grameen Q4 Results: Net profit soars 34% YoY to Rs 397 crore on business expansion
The lender’s pre-provision operating profit was 36% higher at Rs 683 crore, helped by 34% rise in net interest income at Rs 922 crore. Total income rose 37% year-on-year at Rs 1,459 crore.
PB Fintech Q4 Results: Policybazaar parent reports PAT of Rs 60 crore vs loss of Rs 9.34 crore YoY
PB Fintech Q4 Results: The consolidated revenue for the reporting quarter stood at Rs 1089.57 crore, which was up 25.36% over Rs 869.10 crore reported in the year-ago period. For FY24, the PAT improved from a loss of Rs 488 crore to a profit of Rs 64 crore.
Dr Reddy's Q4 Results: Net profit jumps 36% YoY to Rs 1307 crore
Dr Reddy's has reported a 36% year-on-year jump in quarterly net profit, helped by increase in volumes of base business, new product launches, partially offset by price erosion in certain markets.
Another working Saturday! NSE to conduct special trading session on May 18
This is the second such instance in 2024 to test preparedness for handling unexpected disasters. The special session shall be divided into two segments. In the first part, the market will open for normal trading on 9:15 am and end at 10 am.
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