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Top 10 List of Stocks to Watch will be focus today
Coal India (Stocks to watch) on Wednesday said its consolidated net profit shot up 178% to ₹8,834 crores for the first quarter of the 2022-23 fiscal on the back of higher sales. The miner posted a net profit of ₹3,174 crores in the same quarter last year. The company said in a regulatory filing on Wednesday that its sales were 39% higher at ₹32,498 crores during the quarter under review, as against ₹23,293 crores registered in the corresponding period of FY22.
The Indian Railway Catering and Tourism Corporation IRCTC (Stocks to watch), a public sector undertaking under the Ministry of Railways, on Wednesday reported a 198% jump in net profit to ₹245.52 crores for the quarter ending 30 June 2022. It reported a net profit of ₹82.52 crores in Q1FY22. IRCTC’s revenue from operations soared 250.34% to ₹852.59 crores in the quarter under review as against ₹243.36 crores in Q1FY22.
The civil aviation ministry on Wednesday said that limits imposed on domestic airfares will be removed from 31 August, after approximately 27 months. However, airlines will be free to decide what to charge passengers post 31 August. The move comes at a time when fuel prices are stabilizing and demand is bouncing back to pre-Covid levels.
Tata Consumer Products Ltd TCPL (Stocks to watch) on Wednesday reported a 38.2% rise in consolidated net profit at ₹276.72 crores for the June quarter, helped by cost control initiatives and price increases during the period. The company had posted a net profit of ₹200.24 crores for the April-June period a year ago, said TCPL. Revenue from operations was up 10.58% to ₹3,326.83 crores during the quarter as against ₹3,008.46 crores in the corresponding period last fiscal year.
Glenmark Pharmaceuticals (Stocks to watch) on Wednesday reported a 31% decline in its consolidated net profit at ₹211 crores for the first quarter ended June on account of sales dip in domestic and US markets. The company had posted a consolidated net profit of ₹306 crores in the April-June quarter of the previous fiscal. Revenue from operations declined to ₹2,777 crores in the June quarter as compared with ₹2,965 crores in the year-ago period.
State-owned SAIL (Stocks to watch) on Wednesday posted a 79% fall in its consolidated net profit to ₹804.50 crores during the June quarter dragged by higher expenses. It had clocked ₹3,897.36 crores in the April-June period of 2021-22 fiscal, Steel Authority of India Limited (SAIL) said in a regulatory filing. The company’s total income rose to ₹24,199.51 crores from ₹20,754.75 crores in the year-ago quarter.
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Suzlon Energy posted a multi-fold rise in its net profit to ₹2,432.55 crores in the June quarter compared to the year-ago period, helped by exceptional gains. The consolidated net profit of the company was ₹3.64 crore in the quarter that ended June 30, 2021, a BSE filing said. The total income of the company rose to ₹1,383.47 crores in the quarter from ₹1,148.61 crores a year ago.
PB Fintech, the parent firm of online insurance broker Policybazaar, on Wednesday reported a widening of consolidated loss to ₹204.33 crore in the first quarter ended June 30, 2022, according to a BSE filing. The company had posted a loss of ₹110.84 crore in the same period a year ago. The consolidated revenue from operations of PB Fintech more than doubled to ₹505.18 crore during the reported quarter from ₹237.73 crore in the June 2021 quarter.
Online food delivery platform Zomato Ltd is targetting to achieve the breakeven level in overall business between the fourth quarter of this fiscal and the second quarter of FY24 having cut losses gradually, according to company CFO Akshant Goyal. Zomato, which earlier this year gave an investment guidance of USD 400 million for the next couple of years on quick commerce, has now reduced it to about USD 320 million.
Eicher Motors on Wednesday reported over two-fold increase in consolidated net profit to ₹611 crores for the first quarter ended June 30, driven by robust sales in the international markets. The company had posted a net profit of ₹237 crores in the June quarter of the last fiscal. Revenue from operations rose to ₹3,397 crores in the April-June period as compared with ₹1,974 crores in the year-ago period.