Investors Updates

Stocks to watch- Hero MotoCorp: India's largest two-wheeler maker's profits zipped into high-growth territory in the December quarter. Hero MotoCorp saw a 51% year-on-year jump in its net profit at ₹1,073 crore in the third quarter, mirroring the lift in profits and volumes seen by listed peers Bajaj Auto & TVS Motor Company. The company also reported a 21% increase in revenue from operations to ₹9,723.73 crore in Q3FY24, versus ₹8,030.98 crore in Q3FY23. The company said it retailed 1.4 million units during the 32-day festive period during the quarter, its highest for any festive period so far. ONGC: The PSU reported a decline of around 10% in its December quarter net profit to ₹10,356 crore, compared to 11,489 crore in the year-ago period. The petroleum giant's revenue from operations during the quarter registered a decline of 2.2% at 1,65,569 crore, compared to ₹1,69,213 crore in the year-ago period. Oil and Natural Gas Corporation's board has approved a second interim dividend of 80%, i.e. 4 per equity share of face value of 15 each for the fiscal 2023-24. Multi Commodity Exchange of India (MCX): The commodity derivate exchange reported a net loss of ₹5.3 crore, compared to a net profit of ₹39 crore in the year-ago period when it announced its December quarter results for FY24 on Friday. The firm's revenue from operations in the quarter rose 33% to 191.5 crore, compared to ₹143.6 crore in the same period last year. On the operating front, the company's EBITDA loss in the December quarter stood at ₹19.8 crore, compared to ₹44.14 crore in the corresponding period last year. Pfizer: The pharmaceutical company reported a 13.7% YoY decline in its net profit to ₹130 crore ( 129.98 crore) in Q3FY24, compared to a net profit of ₹150.66 crore in Q3FY23. The firm also reported a decline of 13.2% in its revenue for the quarter at 540 crore, compared to ₹622 crore ( 621.75 crore) in Q3FY23. EBITDA was down 24.9% to 153.4 crore for Q3FY24, compared to 204.2 crore in Q3FY23, while EBITDA margin was at 28.4% in the quarter, against 32.8 percent in the same period of the previous fiscal year. DOMS Industries: The stationery and art material company reported that its PAT for Q3FY24 grew by 43.4% to 388.2 million, compared to 270.7 million in Q3FY23. Revenue from operations for Q3FY24 grew by 22.3% to 3,716.1 million, compared to 3,037.3 million in Q3FY23. EBITDA for the quarter ending December 31 grew by 42.7% to 693.5 million compared to 485.8 million in Q3FY23. EBIDTA margin for Q3FY24 expanded by 270 bps to an impressive 18.7% as compared to 16.0% in Q3'FY23. IRFC: The Indian Railway Finance Corporation reported a 1.7% YoY decline in its net profit to 1,604 crore in the December quarter of FY24, compared to a net profit of ₹1,633 crore in Q3FY23. IRFC reported an 8% annual rise in its revenue from operations to ₹6,742 crore against ₹6,218 crore in the year-ago period. The company's earnings per share stood at ₹1.23 per share during the quarter under review. Bandhan Bank: Net profit for the bank increased by 152% YoY to ₹732.7 crore in the quarter ending December 31, 2023, compared to ₹290.6 crore the same period last year. Its Net Interest Income (NII) recorded an annual growth of 21% to ₹2,525 crore inQ3FY24, compared to ₹2,081 crore in the year- ago period. Total deposits of the bank grew by 14.8% YoY to ₹1.17 lakh crore, while the loan portfolio grew by 18.6% YoY to ₹1.16 lakh crore in Q3FY24. Meanwhile, gross NPA improved to 7% as of December 31, 2023, against 7.3% as of September 30, 2023.

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Stocks to watch- ITC: The company recorded 10.75% growth in standalone net profit at ₹5,572 crore for the December quarter despite weak operating numbers, thanks to more other income and a lower tax cost. Standalone revenue from operations increased by 1.6% to 16,483.3 crore, driven by the cigarette and FMCG segments. Bajaj Finance: The company registered 22% growth in consolidated net profit at ₹3,639 crore in the December quarter despite higher loan losses and provisions. Net interest income during the quarter increased by 29% from a year ago to ₹7,655 crore. Vodafone Idea: The telecom operator posted a net loss of ₹6,986 crore for the December quarter, against a loss of ₹8,738 crore in the previous quarter. Revenue fell 0.4% sequentially to 10,673.1 crore. Mahindra Logistics: The company reported a net loss of 16.4 crore from ₹15.5 crore last year. Revenue was up 5.1% at ₹1,397.2 crore, Ebitda was down 17.1% to ₹52.2 crore, and margin dropped to 3.7% from 4.7% last year. Petronet LNG: The company recorded consolidated net profit of ₹1,213 crore for the December quarter, up 41.7% from the previous quarter, backed by healthy operating numbers. Revenue from operations grew by 17.7% sequentially to 14,747.2 crore during the quarter. Havells India: The executive committee has approved an investment of up to $20 million in Havels International Inc., a wholly owned subsidiary incorporated in Delaware. The funds will be used to leverage new growth opportunities in the US. Marico: The FMCG company reported consolidated net profit at ₹386 crore for the December quarter, up nearly 16% from a year ago despite a lower topline. Consolidated revenue from operations fell nearly 2% to 2,422 crore. Piramal Enterprises: The company posted a consolidated net loss of ₹2,377.6 crore for the December quarter, against a profit of ₹3,545.4 crore a year ago, thanks to an exceptional loss of 3,539.8 crore from its investments in alternative investment funds. Revenue from operations fell by nearly 12% yoy to ₹2,476 crore.

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