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 ₹5 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.
Tata Power: The power transmission company reported marginally higher third-quarter profit on Friday, as higher costs weighed on strong energy demand. Tata Power reported a consolidated net profit of 9.53 billion rupees ($114.8 million), up a modest 0.8% from last year. Its expenses rose 3.7% to 142.54 billion rupees, while revenue climbed proportionately to 146.51 billion rupees.
Read More: Stocks to Watch: Hero Motocorp, ONGC, MCX, Pfizer, DOMS Industries, Bandhan Bank