Axis Bank, Bharat Petroleum Corporation, Cipla, Colgate-Palmolive (India), Deepak Fertilisers & Petrochemicals Corporation, Dr Reddy's Laboratories, Punjab National Bank, Shree Cement, Tech Mahindra, Bajaj Finance, Aditya Birla Sun Life AMC, Aegis Logistics, Glaxosmithkline Pharmaceuticals, Godfrey Phillips India, HFCL, Indian Metals & Ferro Alloys, Ion Exchange (India), ISMT, Jindal Stainless, Jubilant Ingrevia, Kajaria Ceramics, Mahindra Lifespace Developers, Oracle Financial Services Software, Omax Autos, Praj Industries, REC, Rane (Madras), Sasken Technologies, Schaeffler India, Shanthi Gears, Syngene International, Tata Consumer Products, TeamLease Services will declare their financial results for the first quarter of FY24 today.
Tata Motors: The company reported a consolidated net profit of Rs 3,203 crore for the first quarter of fiscal year 2023-24 (Q1 FY14), boosted by the improved margin of its passenger vehicle (PV) business and robust sales at its luxury car unit, Jaguar Land Rover (JLR). Revenue from operations increased 42 percent to Rs 1.02 lakh crore in the quarter under review.
Larsen and Toubro: L&T reported a consolidated net profit for the quarter ended June 2023 at Rs 2,493 crore, up 46.5 percent compared to Rs 1,702.07 crore in the same quarter last year. Its revenue from operations for the quarter stood at Rs 47,882 crore, registering a growth of 33.6 percent from Rs 35,853 crore a year ago, the company said in an exchange filing. It will buy back as much as Rs 10,000 crore worth of shares, its first-ever return of capital to shareholders.
Tata Motors DVR: Tata Motors' Board of Directors approved a Scheme of Arrangement for cancellation of ‘A’ Ordinary Shares, and issue of 7 Ordinary Shares for every 10 ‘A’ Ordinary shares held by shareholders. The ‘A’ Ordinary Shares carry 1/10th of voting rights of ordinary shares and are entitled to five percentage points higher dividend. They are listed as Tata Motors DVR on BSE and NSE. After the conversion, it will be delisted from exchanges.
UTI AMC: The company's Q1 net profit jumped 154 percent to Rs 234 crore. Its revenue from operations rose 60 percent to Rs 468 crore.
Satin Creditcare Network: A meeting of Working Committee of Board of Directors of Satin Creditcare Network Limited is scheduled to be held on Friday, July 28, 2023 to consider the fund raising proposal by way of issuance of listed/unlisted, secured/unsecured, nonconvertible debentures on private placement basis.
CEAT: Revenue for Q1 rose 4.1 percent YoY to Rs 2935 crore. PAT of teh company grew multifold to Rs 144 crore. It saw a “healthy” QoQ volume growth in replacement driven by seasonal uptick in passenger segments. OEM volumes saw minor sequential drop due to portfolio rejig in PC/UV and high base effect while there was a moderate decline in blended realizations led by OEM price adjustments.
IRCTC: The company is running two Bharat Gaurav tourist trains to cover Ram Katha at the Jyotirlingas across India. The journey spans approximately 11,000 kilometers, covering 8 states, and takes devotees to visit the revered 12 Jyotirlinga temples, three sacred Dhams, and the Tirupati Balaji temple, the company said.
Union Bank of India: The bank has embarked on Project Sambhav, a Digital Transformation project powered by state-of-art Digital Business Platform which aims at creating a Digital Bank within the Bank. The said project also envisages to Leverage Data & Analytics to foster revenue growth through new value propositions and end-to-end banking & lifestyle services. The Bank has entered into a strategic partnership with IBM India Pvt. Ltd. which will act as System Integrator for accelerating growth via Digital Transformation.
Greaves Cotton: Ampere, the electric two-wheeler brand of Greaves Electric Mobility Private Limited, has entered into a collabaration with Readily Mobility, a leader in the vehicle assistance industry, bringing fullstack after-sales and service support for its B2B fleet customers. Under this agreement, Readily Mobility will cater to Ampere's fleet of vehicles, to ensure smooth operations, minimal downtime, and maximum business efficiency for Ampere’s fleet customers.
Prudent Corporate Advisory Services: The company's revenue from operations grew 29 percent YoY to Rs. 165.4 crores, led by 22 percent growth in quarterly average assets under management (AUM) in the mutual fund vertical coupled with doubling of insurance revenues. Profit after tax grew by 45 percent YoY to Rs. 28.1 crore led by a strong revenue growth & higher other income.
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