Tag: falls

Aditya Birla group firm UltraTech Cement Ltd on Wednesday reported a 42% decline in its consolidated profit after tax (PAT) at ₹759 crores for the quarter ended September 2022, as against ₹1,310 crore in the year-ago quarter. On a sequential basis, UltraTech's profit was down 52 percent from Rs 1,582 crore in the April-June period. Its revenue from operations rose 15.61 percent to Rs 13,892.69 crore during the quarter under review as against Rs 12,016.78 crore in the corresponding period of the last fiscal. The sharp fall in the net profit was due to higher costs and weak profitability. The cement major’s consolidated earnings before interest, taxes, depreciation, and amortization (EBITDA) for the quarter dropped more than 31% YoY to Rs 1,866.64 crore. The operating margin shrunk by a whopping 914 basis points to 13.4%. Read more

Shares of Bajaj Finance dropped 6.63 percent to Rs 6,758 apiece on the BSE in Wednesday’s intra-day trade despite registering strong growth in net profit by 80 percent year on year (YoY) at Rs 2,420 crore for the fourth quarter due to higher net interest income and lower provisions. that ended in March 2022 (Q4FY22).as analysts remained mixed on the company’s future prospects. Bajaj Finance’s net interest income (NII) surged 30 percent y-o-y to Rs 6,068 crore in the March quarter. The company said it was its highest ever consolidated net profit. It also reported the highest ever consolidated profit after tax of Rs 7,028 crore for the fiscal year ended March 2022. The other large component of its revenues was in the form of fees and other income of Rs 1,164 crore, up 51 percent from the same period last year. While asset under management (AUM), portfolio composition, and digital transformation will remain key drivers for the stock, premium valuation, and elevated costs may cap upside. Read more

India’s manufacturing activity lost some momentum in December falling to a three-month low after hitting a 10 month high in November, amid fears that the rapidly spreading third wave of the Coronavirus (Covid-19) pandemic may hit consumer sentiment and output. Data released by the analytics firm IHS Markit showed that the Purchasing Managers’ Index (PMI) for manufacturing fell to 55.5 in December from 57.6 in November. A reading above 50 indicates expansion in economic activity and a number below that signals contraction. “Companies continued with their stock-building initiatives, as evidenced by another robust upturn in buying levels. Business confidence strengthened, but sentiment was again dampened by concerns surrounding supply-chain disruptions, Covid-19 and inflationary pressures,” the data analytics firm said. Read more

At Close, Sensex down 166.33 points or 0.29% at 58117.09, and the Nifty shedding 43.40 points or 0.25% at 17324.90, on a negative note, and thereafer made multiple attempts to recover on the back of fresh buying interest in IT and select banking stocks.Power Grid Corporation, Nestle India, Axis Bank and Dr Reddy’s Labs were the top gainers while ITC, Bajaj Finance, Kotak Mahindra Bank and Bharti Airtel were the top losers. About 1695 shares have advanced, 1462 shares declined, and 109 shares are unchanged.The BSE Midcap index declined 0.4 per cent, While the smallcap index ended almost flat. Among the sectors, power, pharma and oil & gas ended in the green while auto, FMCG and PSU Bank index ended in the red.

At close, the Sensex was down 286.91 points or 0.48% at 59126.36, and the Nifty was down 93.10 points or 0.53% at 17618.20 for the third day in a row defying firm global cues. Bajaj Finserv was the top Sensex gainer, followed by Bajaj Finance, NTPC, and Sun Pharma. Powergrid was the worst-performing Sensex constituent, followed by Asian Paints, Axis Bank, and Kotak Mahindra Bank.About 1804 shares have advanced, 1393 shares declined, and 149 shares are unchanged. On the sectoral front it was a mixed trend, with buying seen in the realty, pharma, power and PSU banking stocks. Selling was seen in the auto, bank, IT, metal names.The BSE MidCap and SmallCap indices, however, closed higher, up 0.3 per cent and 0.6 per cent, respectively.

Auto major Mahindra & Mahindra on Friday reported a 97 per cent decline in consolidated profit at Rs 67.79 crore for June quarter 2020, adversely impacted by the COVID-19 pandemic. The company had reported a profit of Rs 2,259.74 crore ina year ago.The analysts had projected a net profit of Rs 200 crore for the company. The company's revenue also fell 56 per cent YoY to Rs 5,589.43 crore from Rs 12,805.47 crore reported in the year-ago quarter.M&M said profit before the exceptional gain of Rs 29 crore declined 96 per cent YoY to Rs 39 crore for the quarter. It sold 27,565 units of vehicles and 64,140 units of tractors during the quarter, down 78 per cent and 22 per cent YoY. Total exports were at 3,109 units, down 72 per cent.M&M's operating margin for the quarter stood at 10.3 per cent as compared to 14 per cent in Q1FY20. The company also approved the appointment of Nisaba Godrej and Muthiah Murugappan as additional directors on the board of directors. Read more

NBFC major Pune based Bajaj Finance on July 21 reported a 19 per cent year-on-year (YoY) fall in consolidated net profit at Rs 962.32 crore for the quarter ended June 30. It had posted a net profit of Rs 1,195.25 crore in the corresponding quarter last year. The Pune-based company's net interest income rose 12% over the year-ago period to Rs 4,152 crore, against the Rs 3,637-crore forecast. Bajaj Finance made additional contingency provisions worth Rs 1,450 crore for Covid-19, taking the overall contingency provision to Rs 2,350 crore during the quarter. Consolidated revenue for the quarter came in at Rs 6,648.2 crore rising 14.5 per cent over Rs 5,805.5 crore in the corresponding period the previous year. Consolidated asset under management of the company increased 7 per cent YoY to Rs 1,38,055 crore during the quarter. Read more

The country's largest car manufacturer, Maruti Suzuki reported its March quarter profit of Rs 1,291.7 crore, down by 28.1 per cent YoY due to lower sales during the lockdown, while the company had reported a profit of Rs 1,795.6 crore for March quarter previous year. Revenue dipped 15.2 per cent to Rs 18,207.7 crore. The company had posted revenue of Rs 21,473.1 crore. The sharp fall in tax cost limited the profit decline."Profit was lower on account of lower sales volume, higher sales promotion expenses, partially offset by lower operating expenses, cost reduction efforts and reduction in the corporate tax rate," said the company in its BSE filing. Maruti sold a total of 385,025 vehicles,the company's domestic volumes in Q4 fell by 16 percent YoY and exports fell 17 per cent compared to same period last year, especially after nationwide lockdown in last 10 days of March and amid slowdown in overall sector.