Stocks to Watch: Check out the companies making headlines before the opening bell.
Results on August 3: Lupin to be in focus ahead of its June quarter earnings scheduled for release today. Besides Lupin, Adani Power, InterGlobe Aviation, Vodafone Idea, Godrej Consumer Products, Aditya Birla Capital, Adani Transmission, Adani Wilmar, BASF India, Birlasoft, Chambal Fertilisers, Devyani International, Firstsource Solutions, Gujarat Gas, Inox Leisure, KEC International, Paras Defence and Space Technologies, PI Industries, Sandhar Technologies, Satin Creditcare Network, Speciality Restaurants, Tata Coffee, and Zuari Agro Chemicals will declare their June quarter earnings on August 3.
Voltas: The company registered a 10 percent year-on-year decline in profit at Rs 110 crore for the quarter ended June 2022 dented by other income. Revenue grew by 50 percent YoY to Rs 2,795 crore during the same period largely driven by unitary cooling products segment that grew 125 percent YoY.
RPG Life Sciences: The pharmaceutical products manufacturer recorded a 34 percent year-on-year growth in profit at Rs 18.21 crore for the quarter ended June 2022 led by operating performance as well as revenue. Top line increased by 19 percent YoY to Rs 128.93 crore during the quarter, with robust growth in domestic formulations business both in value and volumes.
Lemon Tree Hotels: The hotel chain operator has recorded consolidated profit at Rs 13.57 crore in Q1FY23, against loss of Rs 59.8 crore in year-ago period. Earnings in Q1FY13 were affected by second Covid wave. Revenue grew by 356 percent YoY to Rs 192 crore for the quarter.
MOIL: The company recorded a 66.3 percent year-on-year growth in profit at Rs 102.78 crore for the June FY23 quarter, partly on a low base. Healthy operating income and revenue boosted profitability. Revenue grew by 28 percent to Rs 375.58 crore during the same period but sequentially there was a weakness in earnings with profit and revenue falling around 20 percent each.
Subex: Jio Platforms announced a partnership with Subex for its AI Orchestration Platform, HyperSense, which can enable telcos to deliver on the promise of AI across the data value chain. Jio Platforms will offer its Cloud Native 5G Core to telecom companies globally along with Subex’s HyperSense for enabling closed loop network automation, product performance and customer experience analytics.
eClerx Services: The company said board of directors will hold meeting on August 9 to consider issuance of bonus equity shares. The board will also consider un-audited financial results (consolidated and standalone) of the company for the quarter ended June 2022, on the same date.
Adani Green Energy: The company reported a 2.3 percent YoY decline in consolidated profit at Rs 214 crore for the quarter ended June 2022, dented by lower other income, and forex loss. Revenue grew by 58 percent YoY to Rs 1,701 crore during the same period. Robust growth in revenue and EBITDA from power supply is backed by capacity addition, improved solar and wind CUF and high hybrid CUF, while the consistent EBITDA margin (flat at 92 percent YoY) backed by high solar, wind and hybrid CUF and cost efficiencies brought in through real time centralized monitoring through energy network operation centre.
Gravita India: The company recorded a massive 98 percent YoY growth in consolidated profit at Rs 44.65 crore for the June FY23 quarter, largely driven by other income. Revenue increased by 30 percent to Rs 580 crore during the same period.
Aurobindo Pharma: The API non-antibiotic manufacturing facility in Andhra Pradesh has received a ‘Form 483’ with three observations, but none of these observations are related to data integrity. The USFDA has inspected the company’s Unit XI, an API non-antibiotic manufacturing facility during July 25 to August 2. Earlier, the said Unit was classified as OAI on May 17, 2019 and subsequently given a warning letter dated June 20, 2019.
ITC: The company has exited its lifestyle retailing business following a strategic review of its business portfolio.
Jubilant Pharmova: The USFDA has issued six observations to the company’s solid dosage manufacturing facility at Roorkee plant after the completion of audit. The USFDA has recently concluded audit of this facility at Roorkee, India of Jubilant Generics, a subsidiary of its wholly owned subsidiary Jubilant Pharma.
Mahindra & Mahindra Financial Services: The company said in July 2022, on the backdrop of positive macro environment, the business continued its momentum with disbursement of approximately Rs 3,912 crore delivering a 63 percent YoY growth and a 3 percent sequential MoM growth. The YTD disbursement at approximately Rs 13,385 crore registered a YoY growth of 114 percent. The collection efficiency (CE) was at 97 percent for July 2022, better than the CE of 95 percent for July 2021.
Thermax: The company recorded 39 percent YoY growth in consolidated profit at Rs 58.95 crore for the quarter ended June 2022 supported by top line and operating performance. Revenue surged 57 percent YoY to Rs 1,654.48 crore in Q1FY23.
Schneider Electric Infrastructure: The company reported profit at Rs 26.5 crore for the quarter ended June 2022 against loss of Rs 16.08 crore in year-ago period, partly aided by exceptional gain and operating income. Revenue jumped 29 percent YoY to Rs 371.48 crore in the same period.
Brigade Enterprises: The south-based real estate company recorded profit at Rs 64.65 crore for the quarter ended June 2022 against loss of Rs 85.89 crore in same period last year. The Q1FY22 performance was affected by second Covid wave. Revenue grew by 136 percent YoY to Rs 902.49 crore during the same period.
Shyam Metalics and Energy: The company reported a 10 percent YoY fall in profit at Rs 414 crore for the quarter ended June 2022, dented by weak operating performance. Revenue grew by 31 percent to Rs 3,223 crore in Q1FY23 with growth in across segments barring iron pellets.
Geojit Financial Services: The company reported a 43 percent YoY decline in profit at Rs 22.02 crore for the quarter ended June 2022, dented by lower revenue and weak operating performance. Revenue fell by 16% YoY to Rs 102 crore and EBITDA declined 35 percent to Rs 37.84 crore during the same period.
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