Stocks to watch-
Dr Reddy's Laboratories: The pharmaceutical company reported a net profit of ₹1,307 crore for Q4FY24, a 36% year-on-year increase, primarily driven by strong performance in the US market. The company's revenue increased to ₹7,083 crore during the quarter, a 12% year-on-year growth. For the full year FY24, DRL reported a net profit of 5,568.4 crore, a 36% increase, and total revenues of ₹27,920 crore, up 14% on year. The company expects FY25 to allow a double-digit growth with a 25% Ebitda. The company's global generics segment saw a 13% revenue increase to ₹6,120 crore, mainly due to higher base business volumes and new product launches.
PB Fintech: The parent company of Policybazaar reported a net profit of ₹60.19 crore for Q4FY24, a significant improvement from a loss of ₹9.34 crore in the same period last year. The company's consolidated revenue for the quarter was 1,089.57 crore, a 25.36% increase from the previous year. The total insurance premium for the quarter was 5,127 crore, contributing to an Annual Recurring Revenue (ARR) of ₹20,000 crore in insurance premiums. This growth was mainly due to the expansion in the new health and life insurance segments. The company's cash position improved by ₹259 crore year-on-year, reaching ₹5,263 crore, thanks to a 39% year-on-year growth in core online revenue, which amounted to ₹2,375 crore. Adjusted EBITDA rose to ₹324 crore from 107 crore, improving the margin from 6% to 14%.
Larsen & Toubro: L&T is anticipated to deliver strong Q4FY24 results, driven by enhanced construction activity, robust demand, and a solid order book. The company's net profit for the fiscal fourth quarter is projected to increase by 9.8% YoY to ₹4,380 crore. Revenue is expected to surge by 18.6% YoY to ₹65,402 crore, and EBITDA is likely to rise by 31% YoY to ₹7,553.9 crore. The results will be announced on May 8.
JSW Energy: The company reported a 29% increase in its consolidated net profit to ₹351 crore in the March quarter, primarily due to higher revenues. The company's total revenue for the quarter increased by 3% year-on-year to ₹2,879 crore. The board recommended a dividend of ₹2 per equity share of ₹10 (20%) and approved the raising of funds not exceeding ₹10,000 crore in one or more tranches.
Jaiprakash Associates: JAL has failed to meet its loan repayment obligations on April 30, amounting to ₹4,616 crore. The company's financial commitments are undergoing restructuring, and out of its total debt of ₹29,805 crore, JAL plans to transfer 18,955 crore to a Special Purpose Vehicle (SPV).
Voltas: The company reported a 22.8% YoY drop in net profit at 110.6 crore for Q4FY24. The company's revenue from operations jumped 42.1% to ₹4,202.9 crore. EBITDA fell 12.6% to ₹190.6 crore in the fourth quarter of this fiscal.
Pidilite Industries: The company reported a 6.4% YoY increase in net profit at ₹304.3 crore for the fourth quarter that ended March 31, 2024. The company's revenue from operations increased 7.9% to ₹2,901.9 crore. EBITDA jumped 25.6% to 576.9 crore in the fourth quarter of this fiscal. The board of directors have recommended a dividend of 16 per equity share of 1 each for the financial year ended March 31, 2024.
Dr Reddy's Laboratories: The pharmaceutical company reported a net profit of ₹1,307 crore for Q4FY24, a 36% year-on-year increase, primarily driven by strong performance in the US market. The company's revenue increased to ₹7,083 crore during the quarter, a 12% year-on-year growth. For the full year FY24, DRL reported a net profit of 5,568.4 crore, a 36% increase, and total revenues of ₹27,920 crore, up 14% on year. The company expects FY25 to allow a double-digit growth with a 25% Ebitda. The company's global generics segment saw a 13% revenue increase to ₹6,120 crore, mainly due to higher base business volumes and new product launches.
PB Fintech: The parent company of Policybazaar reported a net profit of ₹60.19 crore for Q4FY24, a significant improvement from a loss of ₹9.34 crore in the same period last year. The company's consolidated revenue for the quarter was 1,089.57 crore, a 25.36% increase from the previous year. The total insurance premium for the quarter was 5,127 crore, contributing to an Annual Recurring Revenue (ARR) of ₹20,000 crore in insurance premiums. This growth was mainly due to the expansion in the new health and life insurance segments. The company's cash position improved by ₹259 crore year-on-year, reaching ₹5,263 crore, thanks to a 39% year-on-year growth in core online revenue, which amounted to ₹2,375 crore. Adjusted EBITDA rose to ₹324 crore from 107 crore, improving the margin from 6% to 14%.
Larsen & Toubro: L&T is anticipated to deliver strong Q4FY24 results, driven by enhanced construction activity, robust demand, and a solid order book. The company's net profit for the fiscal fourth quarter is projected to increase by 9.8% YoY to ₹4,380 crore. Revenue is expected to surge by 18.6% YoY to ₹65,402 crore, and EBITDA is likely to rise by 31% YoY to ₹7,553.9 crore. The results will be announced on May 8.
JSW Energy: The company reported a 29% increase in its consolidated net profit to ₹351 crore in the March quarter, primarily due to higher revenues. The company's total revenue for the quarter increased by 3% year-on-year to ₹2,879 crore. The board recommended a dividend of ₹2 per equity share of ₹10 (20%) and approved the raising of funds not exceeding ₹10,000 crore in one or more tranches.
Jaiprakash Associates: JAL has failed to meet its loan repayment obligations on April 30, amounting to ₹4,616 crore. The company's financial commitments are undergoing restructuring, and out of its total debt of ₹29,805 crore, JAL plans to transfer 18,955 crore to a Special Purpose Vehicle (SPV).
Voltas: The company reported a 22.8% YoY drop in net profit at 110.6 crore for Q4FY24. The company's revenue from operations jumped 42.1% to ₹4,202.9 crore. EBITDA fell 12.6% to ₹190.6 crore in the fourth quarter of this fiscal.
Pidilite Industries: The company reported a 6.4% YoY increase in net profit at ₹304.3 crore for the fourth quarter that ended March 31, 2024. The company's revenue from operations increased 7.9% to ₹2,901.9 crore. EBITDA jumped 25.6% to 576.9 crore in the fourth quarter of this fiscal. The board of directors have recommended a dividend of 16 per equity share of 1 each for the financial year ended March 31, 2024.
Stocks to watch-
Larsen & Toubro: The company reported a 10% rise in net profit for the March quarter, surpassing estimates with a profit of ₹4,396 crore. Despite a 5% decrease in order inflows in the last quarter, the company saw a 31% growth in order inflows for FY24, crossing 3 trillion. The company's consolidated order book stood at 4.8 trillion as of 31 March, a 20% increase from the previous year.
Piramal Enterprises: The company announced its decision to merge with its unlisted subsidiary Piramal Capital & Housing Finance, thus avoiding a mandatory public share sale by the unlisted arm. The merger is expected to be completed in nine to 12 months.
Bank of Baroda: The RBI lifted restrictions on Bank of Baroda (BoB), allowing the bank to onboard customers to its mobile banking app, bob World.
Tata Power: The company's Q4 net profit rose by 15% to 895 crore, driven by strong energy demand due to heatwaves and increased economic activity in India. The company's transmission and distribution segment, its primary revenue source, grew 8.80% to ₹9,025 crore. Overall, revenue from operations climbed 27% to 15,847 crore. Tata Power plans to increase its capital expenditure to ₹20,000 crore for FY 2024-25.
Hero Motocorp: The company reported an 18% YoY increase in its standalone net profit at ₹1,016 crore. The company also declared a final dividend at 2,000%, that is ₹40/- per share for FY24.
TVS Motor: The company's Q4 net profit increased by 18% YoY to ₹485 crore, with a 24% increase in revenue from operations, reaching ₹8,169 crores. The company's operating EBITDA for the year improved by 100 basis points, reaching 11.1% compared to the previous year.
BSE: The company reported a 20.7% YoY jump in consolidated net profit at 106.9 crore for Q4. The company's consolidated revenue from operations surged 110.04% to ₹544.8 crore.
HDFC Life: The Insurance Regulatory and Development Authority (IRDAI) approved the appointment of Keki Mistry as chairman of HDFC Life.
Godrej Agrovet: The company reported a threefold YoY jump in net profit at ₹65.5 crore for Q4. The company's revenue from operations increased 1.9% to 2,134.3 crore.
NBCC (India): The company secured projects worth ₹400 crore. The projects include the development of Amrapali Vananchal City in Bhilai, Chhattisgarh, and Amrapali Cosmos in Aluva, Ernakulam district of Kerala.
Larsen & Toubro: The company reported a 10% rise in net profit for the March quarter, surpassing estimates with a profit of ₹4,396 crore. Despite a 5% decrease in order inflows in the last quarter, the company saw a 31% growth in order inflows for FY24, crossing 3 trillion. The company's consolidated order book stood at 4.8 trillion as of 31 March, a 20% increase from the previous year.
Piramal Enterprises: The company announced its decision to merge with its unlisted subsidiary Piramal Capital & Housing Finance, thus avoiding a mandatory public share sale by the unlisted arm. The merger is expected to be completed in nine to 12 months.
Bank of Baroda: The RBI lifted restrictions on Bank of Baroda (BoB), allowing the bank to onboard customers to its mobile banking app, bob World.
Tata Power: The company's Q4 net profit rose by 15% to 895 crore, driven by strong energy demand due to heatwaves and increased economic activity in India. The company's transmission and distribution segment, its primary revenue source, grew 8.80% to ₹9,025 crore. Overall, revenue from operations climbed 27% to 15,847 crore. Tata Power plans to increase its capital expenditure to ₹20,000 crore for FY 2024-25.
Hero Motocorp: The company reported an 18% YoY increase in its standalone net profit at ₹1,016 crore. The company also declared a final dividend at 2,000%, that is ₹40/- per share for FY24.
TVS Motor: The company's Q4 net profit increased by 18% YoY to ₹485 crore, with a 24% increase in revenue from operations, reaching ₹8,169 crores. The company's operating EBITDA for the year improved by 100 basis points, reaching 11.1% compared to the previous year.
BSE: The company reported a 20.7% YoY jump in consolidated net profit at 106.9 crore for Q4. The company's consolidated revenue from operations surged 110.04% to ₹544.8 crore.
HDFC Life: The Insurance Regulatory and Development Authority (IRDAI) approved the appointment of Keki Mistry as chairman of HDFC Life.
Godrej Agrovet: The company reported a threefold YoY jump in net profit at ₹65.5 crore for Q4. The company's revenue from operations increased 1.9% to 2,134.3 crore.
NBCC (India): The company secured projects worth ₹400 crore. The projects include the development of Amrapali Vananchal City in Bhilai, Chhattisgarh, and Amrapali Cosmos in Aluva, Ernakulam district of Kerala.
Stocks to watch-
Shriram Finance: US-based Warburg Pincus has acquired a majority stake in Shriram Housing Finance Ltd (SHFL) for ₹4,630 crore, marking its largest deal in India. The acquisition was made through its affiliate Mango Crest Investment Ltd from Shriram Finance Ltd (SFL) and other sellers. The deal is expected to be completed by February 7,2025.
Bharti Airtel: The telecom company is projected to report a Q4FY24 consolidated net profit of ₹2,201 crore, a 26.8% YoY decrease, according to analyst estimates. The company's revenue is anticipated to rise by 7.9% YoY to ₹38,736 crore in Q4FY24, with operating profit margins expected to increase by 549 basis points to 31% YoY. Further, operating profit margins are predicted to rise by 57 basis points YoY to 52.4% in the January-to-March quarter. The company's subscriber base is expected to grow by three million to reach 349 million in Q4FY24.
Vedanta: The company is considering raising funds through equity shares or other methods such as a further public offer (FPO), rights issue, etc. The decision is expected to be finalized in the upcoming board meeting scheduled for May 16.
Sanofi India: The pharmaceutical major reported a standalone net profit of ₹136.6 crore for Q1FY24, a 28% decrease from the same quarter of the previous year. The company's revenue was ₹732.4 crore, a 0.5% decrease from the year-ago quarter.
DLF: The realty company reported a 62% increase in its consolidated net profit to ₹920.71 crore in Q4FY24 due to higher income and strong housing sales. The company also announced a dividend of *5 per equity share (250%) of face value of 2 each for FY24. It also announced the appointment of Ashok Kumar Tyagi as the managing director of the company, after the resignation of Vivek Anand effective from 29 February 2024.
Zomato: Following its first annual profit, Zomato is expanding its quick-commerce venture, Blinkit, aiming to add 100 dark stores by June and reach a target of 1,000 warehouses by the fiscal year-end. Blinkit, which turned operationally profitable in March, witnessed a twofold increase in both revenue and gross order value in Q4. Zomato added approximately 75 Blinkit stores from January to March, bringing the total warehouse count to 526. In the March quarter, Zomato reported a profit of 175 crore, a significant turnaround from a loss of 188 crore in the same period the previous year, with operational revenue rising to ₹3,582 crore from ₹2,058 crore. For the full financial year 2023-24, Zomato recorded a profit of ₹351 crore, compared to a loss of ₹971 crore in the preceding year.
INOX India: The company reported a 44% YoY increase in their net profit to ₹44 crore in Q4FY24. The company's revenue increased 17% YoY from 235 crore to ₹276 crore. Sequentially, the company's net profit declined 9% from ₹48.5 crore, while revenue from operations plunged 4% from *290 crore the December 2023 quarter.
ICICI Securities: The National Company Law Tribunal (NCLT) has deferred the ICICI Securities case in which non-institutional minority shareholders challenged its delisting and merger with ICICI Bank. The case is now expected to be taken up in July.
Shriram Finance: US-based Warburg Pincus has acquired a majority stake in Shriram Housing Finance Ltd (SHFL) for ₹4,630 crore, marking its largest deal in India. The acquisition was made through its affiliate Mango Crest Investment Ltd from Shriram Finance Ltd (SFL) and other sellers. The deal is expected to be completed by February 7,2025.
Bharti Airtel: The telecom company is projected to report a Q4FY24 consolidated net profit of ₹2,201 crore, a 26.8% YoY decrease, according to analyst estimates. The company's revenue is anticipated to rise by 7.9% YoY to ₹38,736 crore in Q4FY24, with operating profit margins expected to increase by 549 basis points to 31% YoY. Further, operating profit margins are predicted to rise by 57 basis points YoY to 52.4% in the January-to-March quarter. The company's subscriber base is expected to grow by three million to reach 349 million in Q4FY24.
Vedanta: The company is considering raising funds through equity shares or other methods such as a further public offer (FPO), rights issue, etc. The decision is expected to be finalized in the upcoming board meeting scheduled for May 16.
Sanofi India: The pharmaceutical major reported a standalone net profit of ₹136.6 crore for Q1FY24, a 28% decrease from the same quarter of the previous year. The company's revenue was ₹732.4 crore, a 0.5% decrease from the year-ago quarter.
DLF: The realty company reported a 62% increase in its consolidated net profit to ₹920.71 crore in Q4FY24 due to higher income and strong housing sales. The company also announced a dividend of *5 per equity share (250%) of face value of 2 each for FY24. It also announced the appointment of Ashok Kumar Tyagi as the managing director of the company, after the resignation of Vivek Anand effective from 29 February 2024.
Zomato: Following its first annual profit, Zomato is expanding its quick-commerce venture, Blinkit, aiming to add 100 dark stores by June and reach a target of 1,000 warehouses by the fiscal year-end. Blinkit, which turned operationally profitable in March, witnessed a twofold increase in both revenue and gross order value in Q4. Zomato added approximately 75 Blinkit stores from January to March, bringing the total warehouse count to 526. In the March quarter, Zomato reported a profit of 175 crore, a significant turnaround from a loss of 188 crore in the same period the previous year, with operational revenue rising to ₹3,582 crore from ₹2,058 crore. For the full financial year 2023-24, Zomato recorded a profit of ₹351 crore, compared to a loss of ₹971 crore in the preceding year.
INOX India: The company reported a 44% YoY increase in their net profit to ₹44 crore in Q4FY24. The company's revenue increased 17% YoY from 235 crore to ₹276 crore. Sequentially, the company's net profit declined 9% from ₹48.5 crore, while revenue from operations plunged 4% from *290 crore the December 2023 quarter.
ICICI Securities: The National Company Law Tribunal (NCLT) has deferred the ICICI Securities case in which non-institutional minority shareholders challenged its delisting and merger with ICICI Bank. The case is now expected to be taken up in July.
Stocks to watch-
Siemens: Siemens reported a 70% rise in its net profit for Q4FY24 to ₹803 crore, up from ₹471 crore reported in the same period a year ago. Revenue from operations for the company also rose 18.4% to 5,750 crore from a year ago. The company's board also approved the demerger of its energy business into a separate legal entity, Siemens Energy India Limited. The new entity will later be listed on the BSE and NSE, the company said in a regulatory filing.
Bharti Airtel: The telecom major experienced a significant impact due to Nigeria's currency devaluation, leading to a foreign exchange loss of 2,544 crore from its African subsidiary. This resulted in a 31% decrease in its Q4 consolidated profit to ₹2,071.6 crore, despite a 4.4% growth in consolidated revenue to ₹37,599 crore. The company reported derivative and forex losses of $770 million in FY24 due to the Nigerian policy changes. However, excluding its African operations, the company saw improved financials for the March quarter, adding nearly 8 million new subscribers and reducing customer churn.
Cipla: Four promoter group entities are planning to sell around 2.53% stake in pharma major Cipla through block deals. The price range of the block is fixed at 1,289-1,357, taking the total deal value to around 2,637 crore, according to reports.
Mankind Pharma: The company is reportedly planning to acquire Bharat Serum & Vaccines from Private Equity player Advent. Advent currently owns a 100% stake in Bharat Serum & Vaccines and is seeking a valuation of $2 billion for its complete stake.
Patanjali Foods: The FMCG company reported a 22% drop in standalone net profit at 206.32 crore for Q4FY24, compared to ₹263.71 crore in the same period last year. However, the company's revenue from operations rose 4% to 8,221 crore. The company's food & FMCG segment achieved its highest-ever quarterly revenue of ₹2,704.61 crore in the March quarter, recording a sequential growth of 8.24%.
PVR Inox: The multiplex chain operator reported a consolidated net loss of ₹130 crore in Q4FY24, down from 333 crore reported in the year-ago period. The company's revenue from operations in Q4FY24 rose 10% YoY to ₹1,256 crore from 1,143 crore.
Colgate Palmolive India: The company reported a 20.1% YoY increase in net profit at 379.8 crore for Q4FY24. The company's revenue from operations increased 10.3% to ₹1,490 crore against 1,350.6 crore in the corresponding period of the preceding fiscal.
BASF India: The chemicals maker reported a Q4 profit that nearly doubled to 162 crore, helped by strong demand for its materials and agriculture solution businesses. Revenue from operations rose 2.5% to ₹3,360 crore. The company also declared a dividend of 15 per share for FY24.
Oberoi Realty: The company reported a 64% YoY increase in net profit at ₹788 crore for Q4FY24. Total income for the period grew 56% to 1,558 crore. For FY24, the company's net profit rose to 1,925 crore, while total income increased to ₹4,818 crore. The company's board has passed enabling resolutions for an issue of non-convertible debentures (NCDs) and Qualified Institutional Placement of equity shares totalling up to 4,000 crore. It has also declared a third interim dividend of 2 per equity share for Q4FY24 and recommended a final dividend of 2 per equity share for FY24.
Siemens: Siemens reported a 70% rise in its net profit for Q4FY24 to ₹803 crore, up from ₹471 crore reported in the same period a year ago. Revenue from operations for the company also rose 18.4% to 5,750 crore from a year ago. The company's board also approved the demerger of its energy business into a separate legal entity, Siemens Energy India Limited. The new entity will later be listed on the BSE and NSE, the company said in a regulatory filing.
Bharti Airtel: The telecom major experienced a significant impact due to Nigeria's currency devaluation, leading to a foreign exchange loss of 2,544 crore from its African subsidiary. This resulted in a 31% decrease in its Q4 consolidated profit to ₹2,071.6 crore, despite a 4.4% growth in consolidated revenue to ₹37,599 crore. The company reported derivative and forex losses of $770 million in FY24 due to the Nigerian policy changes. However, excluding its African operations, the company saw improved financials for the March quarter, adding nearly 8 million new subscribers and reducing customer churn.
Cipla: Four promoter group entities are planning to sell around 2.53% stake in pharma major Cipla through block deals. The price range of the block is fixed at 1,289-1,357, taking the total deal value to around 2,637 crore, according to reports.
Mankind Pharma: The company is reportedly planning to acquire Bharat Serum & Vaccines from Private Equity player Advent. Advent currently owns a 100% stake in Bharat Serum & Vaccines and is seeking a valuation of $2 billion for its complete stake.
Patanjali Foods: The FMCG company reported a 22% drop in standalone net profit at 206.32 crore for Q4FY24, compared to ₹263.71 crore in the same period last year. However, the company's revenue from operations rose 4% to 8,221 crore. The company's food & FMCG segment achieved its highest-ever quarterly revenue of ₹2,704.61 crore in the March quarter, recording a sequential growth of 8.24%.
PVR Inox: The multiplex chain operator reported a consolidated net loss of ₹130 crore in Q4FY24, down from 333 crore reported in the year-ago period. The company's revenue from operations in Q4FY24 rose 10% YoY to ₹1,256 crore from 1,143 crore.
Colgate Palmolive India: The company reported a 20.1% YoY increase in net profit at 379.8 crore for Q4FY24. The company's revenue from operations increased 10.3% to ₹1,490 crore against 1,350.6 crore in the corresponding period of the preceding fiscal.
BASF India: The chemicals maker reported a Q4 profit that nearly doubled to 162 crore, helped by strong demand for its materials and agriculture solution businesses. Revenue from operations rose 2.5% to ₹3,360 crore. The company also declared a dividend of 15 per share for FY24.
Oberoi Realty: The company reported a 64% YoY increase in net profit at ₹788 crore for Q4FY24. Total income for the period grew 56% to 1,558 crore. For FY24, the company's net profit rose to 1,925 crore, while total income increased to ₹4,818 crore. The company's board has passed enabling resolutions for an issue of non-convertible debentures (NCDs) and Qualified Institutional Placement of equity shares totalling up to 4,000 crore. It has also declared a third interim dividend of 2 per equity share for Q4FY24 and recommended a final dividend of 2 per equity share for FY24.
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Stocks to watch-
Mahindra & Mahindra: M&M reported a 31.6% YoY increase in net profit to ₹2,038.21 crore in Q4FY24. Revenue from operations rose by 11.24% to ₹25,108.97 crore. The company's EBITDA increased by 12% to ₹3,119 crore, while the EBITDA margin remained at 12.4%. The board recommended a dividend of 21.10 per share, and approved an investment of ₹12,000 crore in its EV unit, Mahindra Electric Automobile Ltd (MEAL).
Vedanta: The company plans to raise ₹8,500 crore through equity or debt, and it declared an interim dividend that will cost ₹4,089 crore. The company will issue a dividend of 11 per share. The company also announced an investment in its Saudi Arabian unit, Vedanta Copper International Ltd (VCI), for setting up a continuous cast copper rod plant.
HAL: The company's profit went up by 52.2% year- on-year to ₹4,308.7 crore. It delivered an EBITDA margin of 40% for the March quarter. For financial year 2024, Hindustan Aeronautics reported revenue of ₹30,380 crore.
Vodafone Idea: The company's losses widened to ₹7,666 crore in Q4FY24, from ₹6,424 crore the previous year. Revenues improved marginally to 10,639 crore, due to improving subscriber mix, 4G subscriber additions, and change in entry level plan. The company, which raised 18,000 crore last month through India's largest FPO, is in talks with lenders to secure debt funding of ₹35,000 crore for network expansion.
Indian Energy Exchange: The company reported a 14.7% increase in its consolidated net profit for 2023-24, helped by higher trade volumes and positive regulatory changes. The company's profit improved to ₹350.8 crore in FY24 from ₹305.9 crore in the previous year, with total revenue jumping 16.2% to 550.8 crore.
Biocon: The company reported a decline of 57% in consolidated net profit at 135.5 crore in Q4FY24, compared to ₹313.2 crore in the corresponding period last year. The company's revenue from operations in the fourth quarter of FY24 stood at 3,917 crore, registering a rise of four per cent, compared to ₹3,774 crore in the year-ago period.
Wipro: The company's former CEO, Thierry Delaporte, has sold shares worth ₹34.5 crore over the past month, taking his total earnings since he resigned from the company on 6 April to ₹70.63 crore, or about $8.5 million.
PB Fintech: Yashish Dahiya, chairman and CEO of PB Fintech, and Alok Bansal, vice-chairman are set to sell a combined stake of 1.86% in the company, translating to an estimated total deal value of 1,053 crore (approximately $126 million).
Crompton Greaves: The company's net profit rose by 1.4% to 133.43 crore YoY, and revenue increased by 9.5% to 1,961 crore. The board recommended a dividend of ₹3 per share.
eClerx Services: The company's net profit fell by 1.5% to 130.5 crore YoY, while revenue rose by 10.6% to ₹766.5 crore.
Mahindra & Mahindra: M&M reported a 31.6% YoY increase in net profit to ₹2,038.21 crore in Q4FY24. Revenue from operations rose by 11.24% to ₹25,108.97 crore. The company's EBITDA increased by 12% to ₹3,119 crore, while the EBITDA margin remained at 12.4%. The board recommended a dividend of 21.10 per share, and approved an investment of ₹12,000 crore in its EV unit, Mahindra Electric Automobile Ltd (MEAL).
Vedanta: The company plans to raise ₹8,500 crore through equity or debt, and it declared an interim dividend that will cost ₹4,089 crore. The company will issue a dividend of 11 per share. The company also announced an investment in its Saudi Arabian unit, Vedanta Copper International Ltd (VCI), for setting up a continuous cast copper rod plant.
HAL: The company's profit went up by 52.2% year- on-year to ₹4,308.7 crore. It delivered an EBITDA margin of 40% for the March quarter. For financial year 2024, Hindustan Aeronautics reported revenue of ₹30,380 crore.
Vodafone Idea: The company's losses widened to ₹7,666 crore in Q4FY24, from ₹6,424 crore the previous year. Revenues improved marginally to 10,639 crore, due to improving subscriber mix, 4G subscriber additions, and change in entry level plan. The company, which raised 18,000 crore last month through India's largest FPO, is in talks with lenders to secure debt funding of ₹35,000 crore for network expansion.
Indian Energy Exchange: The company reported a 14.7% increase in its consolidated net profit for 2023-24, helped by higher trade volumes and positive regulatory changes. The company's profit improved to ₹350.8 crore in FY24 from ₹305.9 crore in the previous year, with total revenue jumping 16.2% to 550.8 crore.
Biocon: The company reported a decline of 57% in consolidated net profit at 135.5 crore in Q4FY24, compared to ₹313.2 crore in the corresponding period last year. The company's revenue from operations in the fourth quarter of FY24 stood at 3,917 crore, registering a rise of four per cent, compared to ₹3,774 crore in the year-ago period.
Wipro: The company's former CEO, Thierry Delaporte, has sold shares worth ₹34.5 crore over the past month, taking his total earnings since he resigned from the company on 6 April to ₹70.63 crore, or about $8.5 million.
PB Fintech: Yashish Dahiya, chairman and CEO of PB Fintech, and Alok Bansal, vice-chairman are set to sell a combined stake of 1.86% in the company, translating to an estimated total deal value of 1,053 crore (approximately $126 million).
Crompton Greaves: The company's net profit rose by 1.4% to 133.43 crore YoY, and revenue increased by 9.5% to 1,961 crore. The board recommended a dividend of ₹3 per share.
eClerx Services: The company's net profit fell by 1.5% to 130.5 crore YoY, while revenue rose by 10.6% to ₹766.5 crore.
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