Stocks to Watch: Tata Motors, Biocon, Colgate-Palmolive, IIFL, Hero MotoCorp | Mint – Mint

Tata Motors: Tata Motors on Wednesday reported a consolidated net loss of ₹4,951 crore in the June quarter as chip shortage and COVID-19 lockdown in China impacted Jaguar Land Rover sales. The company had posted a consolidated net loss of ₹4,450 crore in the same quarter last fiscal. Consolidated revenue from operations during the period under review stood at ₹71,935 crore as against ₹66,406 crore in the year-ago period, the company added.

Colgate-Palmolive: FMCG major Colgate-Palmolive India Ltd on Wednesday reported a decline of 10.1% in net profit at ₹209.67 crore for the June quarter, impacted by an overall rural slowdown and inflationary pressures. The company had posted a net profit of ₹233.23 crore in the April-June period a year ago, Colgate-Palmolive India Ltd (CPIL) said in a regulatory filing. Its revenue from operations was up 2.48% at ₹1,186.59 crore during the quarter under review. In the year-ago period, the same stood at ₹1,157.86 crore.

Biocon: Biotechnology major Biocon on Wednesday reported a 71% increase in consolidated net profit at ₹144 crore for the June quarter on the back of robust growth across business verticals. The company had posted a net profit of ₹84 crore in the April-June quarter of the previous fiscal. Total revenue rose to ₹2,217 crore in the first quarter as compared with ₹1,808 crore in the year-ago period, Biocon said in a regulatory filing.

Manjushree Technopack: Advent International-backed Manjushree Technopack (MTL) on Wednesday announced that it will acquire caps and closures manufacturer Hitesh Plastics for an undisclosed sum in a slump sale. MTL will strengthen its position as an integrated rigid plastic packaging player with the acquisition, which will also help it add two plants in Maharashtra’s Jalgaon, according to an official statement.

Tata Steel: Domestic giant Tata Steel on Wednesday said it has inked a pact with a Bengaluru-based startup for drone-based mining solutions for effective mine management. The primary goal of this collaboration is to jointly develop and offer sustainable and end-to-end integrated solutions that will focus on efficiency, safety, and productivity of open cast mining operations.

Dixon Technologies: Electronic manufacturing services firm Dixon Technologies (India) Ltd on Wednesday reported over a two-fold jump in its consolidated net profit at ₹45.43 crore in the April-June quarter of FY23. The company had posted a net profit of ₹18.16 crore in the same period a year ago. Its revenue from operations was up 52.89% at ₹2,855.07 crore as against ₹1,867.29 crore in the corresponding quarter of last fiscal.

IIFL Finance: IIFL Finance on Wednesday reported a 24% rise in consolidated net profit at ₹330 crore in the quarter ended June on higher interest income. The non-banking finance company had posted a net profit of ₹250 crore in the year-ago period. Total income during the April-June quarter of the current fiscal rose to ₹1,975 crore as against ₹1,532 crore in the same period a year ago, it said in a regulatory filing.

Hero MotoCorp: Hero MotoCorp has joined hands with Accenture for cost optimisation across its supply chain as the two-wheeler maker prepares to expand globally as well as foray into the electric vehicles segment. It will also deploy a supply chain control tower, powered by data and analytics, to enable better supply chain and logistics planning, the statement said.

Blue Dart Express: Logistics service provider Blue Dart Express on Wednesday reported a more than three-fold jump in consolidated profit after tax at ₹118.79 crore in April-June 2022 quarter over the same period a year ago. The company had posted a consolidated PAT of ₹31.3 crore in the quarter ended June 2021, Blue Dart said in a statement. The revenue from operations during the reporting quarter was ₹1,293.3, registering a 49.3% growth from ₹866.2 crore clocked in the first quarter of FY22.

JK Lakshmi Cement: The company on Wednesday reported a 15.49% decline in its consolidated net profit to ₹115.07 crore for the first quarter ended June 30. The company had posted a profit of ₹136.17 crore in the April-June period a year ago, JK Lakshmi Cement said in a regulatory filing. Its revenue from operations was up 24.78% at ₹1,654.14 crore during the quarter under review against ₹1,325.58 crore in the year-ago period.