2 weeks Ago
Here’s a quick look at stocks likely to be in focus in today's trade. Britannia Industries : FMCG major Britannia Industries Ltd reported a 10% decline in consolidated net profit for the quarter ended September 2024, amounting to ₹ 531 crore. This marked a decrease from ₹ 588 crore in the same quarter of the previous year.
Revenue from operations showed a 5% year-on-year (YoY) increase, reaching ₹ 4,668 crore compared to ₹ 4,433 crore in the year-ago period. However, both profit and revenue figures were below market expectations. Sequentially, consolidated sales rose by 11% and profit after tax increased by 5%.
Hindalco : Hindalco Industries reported a significant 123% growth in standalone net profit for the quarter ended September 2024, reaching ₹ 1,891 crore, up from ₹ 847 crore in the corresponding quarter of the previous year. This profit exceeded market estimates, which stood at ₹ 1,294 crore. Revenue from operations saw an 8% YoY increase to ₹ 22,262 crore.
The impressive profit growth was attributed to strong operational performance in the India business, favorable macroeconomic conditions, and strategic cost management. ONGC : State-owned ONGC posted a 17% increase in standalone net profit for the quarter ended September 2024, totaling ₹ 11,984 crore, compared to ₹ 10,238 crore in the same quarter last year. Revenue from operations, however, declined by 4% YoY, amounting to ₹ 33,881 crore as opposed to ₹ 35,163 crore in the year-ago period.
The company’s board declared a first interim dividend of ₹ 6 per equity share (face value ₹ 5) for FY25, with November 20 set as the record date for shareholder eligibility. Shree Cement : Shree Cement Ltd reported a substantial 83% decline in consolidated net profit for the quarter ended September 2024, which stood at ₹ 76 crore, down from ₹ 447 crore in the corresponding quarter of the prior year. Revenue from operations also saw a decline of 15% YoY, amounting to ₹ 4,054 crore.
Operating EBITDA for the quarter fell 32% YoY to ₹ 593 crore compared to ₹ 870 crore in the same quarter last year. BEML : Miniratna company BEML reported a slight 0.75% decrease in profit after tax (PAT) on a YoY basis for the quarter ended September 30, 2024, with PAT at ₹ 51.
03 crore, compared to ₹ 51.78 crore in the same quarter of the previous year. Revenue from operations declined by 6.
2% YoY, totaling ₹ 859.84 crore for the reporting period, down from ₹ 916.79 crore in the year-ago quarter.
Jubilant FoodWorks : Jubilant FoodWorks announced its financial results for the second quarter ending September 2024 on Monday, reporting a profit after tax (PAT) of ₹ 66.53 crore. This represented a 31.
5% year-on-year (YoY) decline. Despite the decrease in profit, the company experienced significant revenue growth. Revenue from operations for the quarter reached ₹ 1,954.
70 crore, up from ₹ 1,368.63 crore in the corresponding quarter of the previous year. Total income also rose, amounting to ₹ 1,984.
93 crore, an increase from ₹ 1,375.69 crore reported during the same period in the prior year. Akums Drugs : Akums Drugs and Pharmaceuticals, a Delhi-based contract development and manufacturing organization (CDMO), reported an adjusted net profit of ₹ 66.
7 crore, reflecting a 16% YoY increase, driven by enhanced operational efficiency. However, revenue for the quarter declined by 11.9% YoY to ₹ 1,046.
6 crore due to a decrease in active pharmaceutical ingredient (API) prices and variable demand. The adjusted EBITDA stood at ₹ 1,347 million, showing a 28% drop compared to the previous quarter, while the adjusted EBITDA margin was 12.9%.
Videocon : SEBI has ordered the attachment of bank accounts, shares, and mutual fund holdings of Venugopal Dhoot and Videocon Industries' promoter entity, Electroparts (India), to recover dues of ₹ 68.5 lakh. This follows a September 30 notice directing them to pay dues related to an insider trading case within 15 days.
The action was taken after non-compliance, freezing Dhoot and Electroparts (India)'s bank, demat, and mutual fund accounts. The pending dues include interest and recovery costs. Welspun Corp : Welspun Mauritius Holdings Limited (WMHL) announced the sale of a 5% equity stake in East Pipes Integrated Company for Industry (EPIC), a listed associate of Welspun Corp in the Kingdom of Saudi Arabia (KSA), for a total consideration of 218.
9 million Saudi Riyal (approximately ₹ 480 crore). As a result of this transaction, WMHL’s stake in EPIC has reduced from 31.5% to 26.
5%. Despite the divestment, WMHL remains the largest shareholder in EPIC..
