Tag: q3 results

Hindustan Unilever today(20th January 2022) reported a 17% jump in net profit at Rs 2,243 crore for the quarter ending December 31, 2021, as it gained market share in both urban and rural areas as India emerged from coronavirus-related lockdowns. It posted a net profit of Rs 1,921 crore in the year-ago period. Growth in the quarter was competitive and profitable with domestic consumer growth of 11%. Business fundamentals remained strong with handsome market share gains in all our divisions, both urban and rural markets and across price segments. Underlying volume growth at 2% was significantly ahead of the market, the company said in a stock exchange filing. Read more

The Indian benchmark indices extended their opening losses and were 0.5 percent lower in early morning trade today (19th January 2022). The BSE Sensex was down 285 points at 60,469 while the NSE Nifty was at 18,044 lower by 68 points. The index slipped below 18,000 to a low of 17,950 earlier. Infosys, Asian Paints, HCL Tech, Wipro, Ultratech Cement, Sun Pharma, Kotak Bank, L&T, TCS, HDFC, HUL, Airtel were the top laggards of the Sensex-30 pack and were trading 0.7-2 percent lower. On the Nifty, Tata Consumer, Adani Ports, HDFC Life, SBI Life, and Shree Cement were the additional losers. Read more

Nervousness has crept into the markets, with the focus shifting to stock-specific action amid Q3 results season. The BSE Sensex oscillated in a narrow range of 277 points intra-daytoday917TH January 2022), and eventually ended at 61,309 levels, up to 86 points or 0.14 percent. On the NSE, the Nifty50 closed at 18,309, up 53 points or 0.29 percent. In the broader market, the BSE MidCap and SmallCap indices outperformed the benchmarks and ended up to 0.6 percent higher. According to experts Markets are currently witnessing time-wise correction and are likely to resume the trend soon. "Meanwhile, participants should focus more on risk management citing a rise in volatility due to the earnings. We reiterate our preference for IT, metal, realty, and pharma pack while banking may see further consolidation," they opined.

SBI with nearly 20-25 percent market share which recorded a beat on its quarterly earnings, feat is sure to invite re-rating from analysts. The series of price-target upgrades continued for the sixth consecutive quarter for the state-owned lender as it reported a 7 percent decline in net profit at Rs 5,196 crore for the quarter ended December 2020. That compares with the Rs 4,479-crore consensus estimate of analysts tracked by Bloomberg. On the asset quality front, SBI’s gross non-performing asset ratio stood at 4.77 percent compared with 5.28 percent in the preceding three months. Moreover, its net NPA ratio was at 1.23 percent, down 36 basis points sequentially. Analysts had expected GNPAs to rise to over 6 percent. Such a healthy performance, analysts say, should help the bank reach a 10 percent return in equity (RoEs) over the next 2 years. Read more

After Britannia announced its December quarter results for FY21 (Q3FY21) on February 5, 2021, the FMCG firm's stock has lost 3.2 percent in the four trading sessions since 10th Feb., as compared to the benchmark S&P BSE Sensex's 1.13 percent gain in the same period. Analysts said that Britannia's sales growth of 6 percent in the quarter under review was "disappointing", even though margin gains remained strong. "Slowdown in sales growth was due to sluggish category trends in MT and reversal of higher in-home consumption demand seen in Q1, with consumer shifting to other snacking options. Commentary indicated a gradual recovery in growth to pre-Covid levels. We cut our FY21-23 estimates marginally by 2-4 percent on account of a sequential slowdown in growth. We expect re-opening of schools/offices to drive on-the-go consumption and improve growth," the brokerage said, adding that it maintains 'Buy' with a revised target price of Rs 4,500.

The benchmark indices in India scaled their fresh lifetime highs in morning trading of today's(3rd February 2021) volatile session. Among the headline indices, the S&P BSE Sensex was trading 320 points up at 50,118 levels. The index had earlier hit a fresh lifetime high of 50,231. The broader Nifty50 index was testing the 14,750-mark. Kotak Mahindra Bank and Maruti Suzuki slipped 1 percent each and were the top Sensex laggards. On the other hand, Dr. Reddy's zoomed 4 percent. The trend among Nifty sectoral indices was mixed, with the Nifty Pharma index, up 2 percent, leading the gainers. The broader markets, meanwhile, outran their benchmark peers, with the S&P BSE MidCap and SmallCap indexes up 0.9 percent and 0.8 percent, respectively. Read more

Shares of Sun Pharmaceutical Industries gained by 6 per cent to Rs 600, bouncing back 8 per cent from day’s low of Rs 554, after the company’s net profit more-than-doubled at Rs 1,852 crore in December quarter (Q3FY21) compared with Rs 913.52 crore in the same quarter last year. The profit figures were above market expectations as a CNBC-TV18 poll had estimated the profit at Rs 1,334 crore. Consolidated total revenue from operations increased 8% to ₹8,837 crore as against ₹8,155 crores a year ago. Revenue was better-than-expected too as a CNBC-TV18 poll had estimated it at Rs 8,367 crore. Other income for the quarter surged to Rs 314.95 crore compared with Rs 119.88 crore in the year-ago quarter. The company declared an interim dividend of ₹5.50 per share. The board of directors has fixed February 10, 2021, as the record date for the purpose. Read more

HCL Technologies posted a strong set of numbers for the December quarter, with net profit up 31.1 percent year-on-year (YoY) at Rs 3,982 crore as compared to the corresponding quarter a year ago. The net profit rose 26.7 percent on a sequential basis. HCL's consolidated revenue rose 6.4 percent to Rs 19,302 crore YoY and 3.8 percent sequentially. The EBIT margin of the IT services provider expanded 265 basis points on a YoY basis to 22.9 percent in the October-December period - a 24 quarter high. The company’s revenue also crossed the $10-billion milestone in 2020, delivering a 3.6 percent YoY growth in constant currency. The company won 13 transformational deals across industry verticals, including life sciences and healthcare, technology, and financial services. “The solid performance was driven by robust momentum in its Mode 2 and Mode 3 businesses led by digital, cloud and products & platform segments, according to president & CEO, HCL Technologies.