Handy futures on the Singapore Exchange traded 44 points, or 0.25 percent lower at 17,496.5, indicating Dalal Street was off to a negative start on Monday. In the previous session, The BSE Sensex climbed 465 points to 58,853, while the Nifty50 rose 128 points to 17,525.
Coal India, Pidilite, Hindalco: Coal India, Pidilite Industries, Eicher Motors, Hindalco Industries, Tata Consumer Products, IRCTC, Abbott India, Patanjali Foods, Max Healthcare Institute, Zydus Lifesciences, NHPC, Cummins India, Steel Authorit of India and Aarti Inudstries are among the companies to disclose their earnings for the quarter ended June 2022.
Bharti Airtel
The telecom operator posted a more than fivefold jump in its consolidated profit to Rs 1,607 crore for the quarter ended June 2022, mainly due to tariff hikes. The company recorded a profit of Rs 283.5 crore in the same period a year ago.
HDFC Bank
Trade receivables discounting platform M1xchange has partnered with the private lender with the aim of providing more liquidity to small businesses at competitive interest rates. This move is expected to provide high liquidity for buyer companies and SMEs at competitive interest rates.
Power Grid Corporation of India
The state-owned power transmission company said its consolidated net profit fell more than 36 percent to Rs 3,801.19 crore in the April-June quarter of FY23. The company’s consolidated net profit was Rs 5,998.28 crore in the quarter ended June 30.
National Aluminum Company
The state-owned metals company reported a 60.5 percent increase in consolidated profit at Rs 557.91 crore for the quarter ended June on the back of higher operating revenues. The company had posted a consolidated profit of Rs 347.48 crore last year.
Apollo Hospitals Enterprise
The hospital and healthcare chain said it has acquired a hospital asset in Gurugram from Nayati Healthcare and Research NCR Pvt Ltd for about Rs 450 crore. The acquired complex is located on a hospital zoned site with a potential of 650 beds spread over 7 lakh square feet.
The Indian Hotels Company
The hospitality group reported a consolidated profit after tax (PAT) of Rs 170 crore for the quarter ended June, mainly due to strong demand as occupancy rates and rates exceeded pre-COVID levels. It had reported a loss of Rs 277 crore during the corresponding period of the previous financial year.
Indraprastha Gas
The CNG and cooking gas retailer in the national capital reported a 72 percent increase in June net profit, thanks to an increase in sales volume. Net profit of Rs 420.86 crore in April-June compared to Rs 244.29 crore in the corresponding quarter of the last fiscal year.
MRF
The tire maker reported a 25.35 percent decline in consolidated profit from continuing operations at Rs 123.6 crore in the first quarter ended June, impacted by higher raw material costs. The consolidated revenue from operations in the June quarter was Rs 5,695.93 crore.
Tata Chemicals
The specialty chemicals player reported an 86.25 percent increase in consolidated net profit of Rs 637 crore during the quarter ended June. The company’s net profit was Rs 342 crore in the corresponding quarter of the previous fiscal year.
AU Small Finance Bank
The private lender has raised about Rs 2,000 crore from qualified institutional investors against the target of up to Rs 2,500 crore. The Qualified Institutional Placement (QIP) witnessed the participation of DSP, the Government of Singapore, Goldman Sachs and ICICI Prudential Life and more.
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