Stocks to Watch: Check out the companies making headlines before the opening bell.
Results on January 25: Tata Motors, Bajaj Auto, Dr Reddy’s Laboratories, Cipla, Amara Raja Batteries, Arvind, Ceat, Chennai Petroleum Corporation, Dixon Technologies, DLF, Embassy Office Parks REIT, Equitas Holdings, Go Fashion, Indraprastha Gas, Indian Bank, Jyothy Labs, Olectra Greentech, Patanjali Foods, Tata Elxsi, TeamLease Services, Torrent Pharmaceuticals, and VIP Industries will be in focus ahead of quarterly earnings on January 25.
Bharti Airtel: The telecom operator has confirmed that it has raised minimum tariff plans in 7 circles. According to a CNBC-TV18 report, Airtel has raised minimum tariff plan to Rs 155 from Rs 99-111 earlier. The company’s spokesperson said that they have discontinued metered tariff & introduced an entry-level plan of Rs 155 in 7 circles.
Barbeque-Nation Hospitality: Anurag Mittal has resigned as Chief Financial Officer of the Barbeque-Nation Hospitality. He will cease to be Chief Financial Officer from February 7, 2023. The company will release its quarterly earnings scorecard on February 7.
Triveni Engineering Industries: The company said the board members have approved further capex of Rs 90 crore for sugar business group and Rs 100 crore capex for power transmission operations. In addition, the company has reported a 13% year-on-year growth in consolidated profit at Rs 147.3 crore for quarter ended December FY23, led by lower tax cost and higher other income. Revenue grew by 34% to Rs 1,659 crore compared to year-ago period, but operating profit fell 4.6% YoY to Rs 193.4 crore for the quarter.
Rail Vikas Nigam: Rail Vikas Nigam bags Rs 38.4 crore worth order from Southern Railway. The company has received letter of award for provision of automatic block signalling with dual MSDAC, EI/OC interface and block optimization in Arakkonam Junction-Nagari section of Chennai division in Southern Railway. The cost of the project is Rs 38.4 crore.
Pidilite Industries: The adhesives, sealants and construction chemicals manufacturer has reported a 14.3% year-on-year decline in consolidated profit at Rs 307.7 crore for quarter ended December FY23, impacted by lower operating margin. Revenue grew by 5.2% to Rs 2,998 crore compared to year-ago period with C&B business growing at 7%, as in Q3FY22, it had registered very high growth as a result of trade increasing inventory stocking because of substantial price increases in the quarter. Overall numbers missed analysts’ expectations.
TVS Motor Company: The two-and-three-wheeler manufacturer has clocked a 22% year-on-year growth in standalone profit at Rs 352.8 crore for December FY23 quarter despite higher input cost. Revenue from operations grew by 14.7% to Rs 6,545 crore compared to year-ago period, with volume rising 0.09% to 8.79 lakh YoY. Operating profit at Rs 659 crore increased by 16% with margin expansion of 10 bps at 10.1% compared to same period last year. The board members have declared an interim dividend of Rs 5 per share.
Nazara Technologies: The gaming and sports media platform has clocked a 76% year-on-year growth in consolidated profit at Rs 18.1 crore for quarter ended December FY23 despite weak operating performance, led by topline and other income. Revenue from operations at Rs 315 crore grew by 69.4% compared to year-ago period. Operating profit increased by 3.4% YoY to Rs 30.1 crore and margin fell 6 percentage points YoY to 9.6% for the quarter.
Motilal Oswal Financial Services: The company has recorded a 5.5% year-on-year decline in consolidated profit at Rs 226.5 crore for quarter ended December FY23. Consolidated revenue from operations grew by 4.6% to Rs 1,072.1 crore compared to same period last fiscal. The company received board approval for an interim dividend of Rs 7 per share.
Macrotech Developers: The real estate developer has registered a 41.7% year-on-year growth in consolidated profit at Rs 404.5 crore despite lower revenue and weak operating performance, supported by other income and lower tax cost. Revenue for the quarter at Rs 1,774 crore declined 14%, but pre-sales grew by 16% YoY to Rs 3,035 crore compared to year-ago period. The company reduced net debt by Rs 753 crore to Rs 8,042 crore.
Indus Towers: The mobile tower installation company has posted consolidated loss of Rs 708.2 crore for quarter ended December FY23 against profit of Rs 1,570.8 crore in same period last fiscal, as the company made doubtful debt provision of Rs 2,298 crore against receivables from one of the telecom companies. Revenue fell 2.3% YoY to Rs 6,765 crore for the quarter, and EBITDA tanked 68% to Rs 1,185.8 crore compared to year-ago period.
Quick Heal Technologies: The cybersecurity software company has posted consolidated loss of Rs 9.3 crore for quarter ended December FY23, against profit of Rs 14.3 crore in corresponding period last fiscal. Revenue fell 16.1% to Rs 66.8 crore compared to year-ago period, while EBITDA loss at Rs 11.4 crore for the quarter against profit of Rs 20.5 crore in same period last fiscal.
United Spirits: The alcoholic beverages company has reported a 64.4% year-on-year decline in standalone profit at Rs 110.5 crore for December FY23 quarter impacted by lower revenue and weak operating performance. Revenue from operations at Rs 6,612 crore fell by 25.3% compared to year-ago period and revenue (excluding excise duty) declined 3.5% YoY. The company approved sale of entire shareholding in subsidiary Sovereign Distilleries, to Girish Jain and M Sukumar, the sole proprietor of Sri Lakshya Traders, for Rs 32 crore.
Sasken Technologies: The company has clocked a 3.9% year-on-year growth in consolidated profit at Rs 31.3 crore for quarter ended December FY23 despite weak operating performance, driven by higher topline and other income. Revenue grew by 15.5% YoY to Rs 122.8 crore in Q3FY23.
Sonata Software: The company has appointed Samir Dhir as MD & CEO, and Srikar Reddy as executive vice chairman with effective from February 14, 2023. Currently Samir Dhir is the Whole-time Director & CEO and Srikar Reddy is the current Managing Director and a member of the board of directors.
Tatva Chintan Pharma Chem: The specialty chemical company has reported a 49% year-on-year decline in consolidated profit at Rs 11.6 crore for quarter ended December FY23, impacted by weak operating performance. Revenue at Rs 120.6 crore grew by 15% over a year-ago period and EBITDA fell by 25% YoY to Rs 17.9 crore for the quarter.
