Stocks to Watch: Check out the companies making headlines before the opening bell.
Results on August 11: Aurobindo Pharma, Apollo Hospitals Enterprise, Aster DM Healthcare, Bata India, Bharat Forge, Gujarat Ambuja Exports, Greaves Cotton, Garden Reach Shipbuilders & Engineers, Himadri Speciality Chemical, KNR Constructions, Page Industries, The Phoenix Mills, Puravankara, Quess Corp, Sapphire Foods India, Shilpa Medicare, Spencers Retail, Sunteck Realty, Trent, Vipul Organics, and Wonderla Holidays will be in focus ahead of June quarter earnings on August 11.
Coal India: The state-owned company’s Q1 clocked a 178 percent year-on-year growth in consolidated profit at Rs 8,834.22 crore for the quarter ended June FY23 on a low base. The June quarter FY22 earnings were affected by second Covid wave. Revenue increased 39 percent to Rs 35,092 crore compared to corresponding period of the previous year. The country’s largest coal mining company produced 159.75 million tonnes of raw coal, up 29 percent YoY and its offtake of raw coal increased by 10.6 percent YoY to Rs 177.49 million tonnes for the quarter ended June FY23.
Tata Consumer Products: The Tata Group company recorded a 38 percent year-on-year growth in profit at Rs 277 crore for the quarter ended June FY23, with revenue rising 11 percent to Rs 3,327 crore and EBITDA increasing 14 percent to Rs 460 crore compared to year-ago period. Revenue in constant currency terms increased 10 percent YoY.
Eicher Motors: The two-wheeler and commercial vehicle maker reported a 157.5 percent year-on-year growth in consolidated profit at Rs 610.66 crore for the quarter ended June FY23 supported by low base. The Q1FY22 earnings were affected by second Covid wave. Revenue grew by 72 percent to Rs 3,397.5 crore compared to corresponding period last fiscal.
Va Tech Wabag: The company recorded a 105 percent year-on-year increase in consolidated profit at Rs 29.88 crore for the quarter ended June FY23 despite weak top line and operating performance, driven by other income. Revenue fell 4 percent to Rs 631.68 crore compared to year-ago period.
Oil India: The company reported a 166 percent year-on-year growth in consolidated profit at Rs 3,230 crore in the quarter ended June FY23. Revenue grew by 86.5 percent to Rs 11,567 crore in Q1FY23, compared to Rs 6,202 crore in same period last year.
Mazagon Dock Shipbuilders: The company clocked a 121 percent year-on-year growth in consolidated profit at Rs 224.8 crore for the June FY23 quarter, partly on a low base. Numbers were affected in Q1FY22 due to second Covid wave. Revenue grew by 84 percent to Rs 2,230 crore compared to year-ago period, but input cost was more than doubled.
ISGEC Heavy Engineering: The company reported a 120 percent year-on-year growth in profit at Rs 30.09 crore for the quarter ended June FY23, supported by higher top line and operating performance. Revenue grew by 22 percent to Rs 993 crore compared to same period last year.
Indian Railway Catering and Tourism Corporation: The company clocked a 198 percent year-on-year growth in profit at Rs 245.52 crore for the quarter ended June FY23 with normalisation of business, aided by low base. The year-ago quarter was affected by second Covid wave. Revenue jumped 250 percent to Rs 852.60 crore compared to corresponding period last fiscal.
Ashoka Buildcon: The road developer has reported a 69.4 percent year-on-year growth in consolidated profit at Rs 134.66 crore in the quarter ended June FY23, driven by top line and operating performance. The low base also supported earnings as Q1FY22 was affected by second Covid wave. Revenue grew by 46 percent to Rs 1,878.56 crore compared to same quarter last year.
Abbott India: The company has registered a 5 percent year-on-year growth in profit at Rs 205.64 crore for the quarter ended June FY23 on tepid top line growth. Revenue increased by 7 percent to Rs 1,304.37 crore compared to same period last year.
Mahindra & Mahindra: Life Insurance Corporation of India sold 2 percent stake or 2.49 crore equity shares in the automobile company via open market transactions. With this, LIC’s stake in the company reduced to 6.42 percent, down from 8.43 percent earlier.
Balaji Telefilms: The company posted consolidated loss at Rs 24.5 crore for the quarter ended June FY23, declining from loss Rs 33.9 crore in corresponding period last fiscal dented by loss at operating level. Revenue in Q1FY23 grew by 83.3 percent YoY to Rs 118.8 crore on a low base as Q1FY22 numbers were affected by second Covid wave.
CESC: The company reported a 6 percent year-on-year growth in consolidated profit at Rs 297 crore for the quarter ended June FY23, impacted by cost of fuel and cost of electricity energy purchased, but aided by revenue, regulatory income and lower tax cost. Revenue increased by 27.5 percent to Rs 4,102 crore compared to year-ago period.
PB Fintech: The Policybazaar operator recorded consolidated loss at Rs 204.33 crore for the quarter ended June FY23, widening from loss of Rs 110.84 crore in corresponding period last fiscal due to weak operating performance. The company has reported a significant increase in employee expenses, and advertising & promotion expenses for the quarter. EBITDA loss more than doubled to Rs 234.3 crore for the June FY23 quarter, against loss of Rs 118.35 crore in corresponding period last fiscal, and revenue from operations came in at Rs 505.2 crore, increasing 112.5 percent over Rs 238 crore reported in year-ago period.
Hikal: The company posted consolidated loss at Rs 8.86 crore for the quarter ended June FY23, against profit at Rs 50.54 crore in year-ago period. Revenue fell 17 percent to Rs 378.8 crore compared to Rs 456.8 crore YoY on a high base.
Radico Khaitan: The company reported a 1.8 percent year-on-year growth in consolidated profit at Rs 62 crore for the quarter ended June FY23. Revenue grew by 10.6 percent to Rs 3,183.8 crore compared to year-ago period.
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