The sell-off in the US and Asian markets is expected to weigh on Indian stocks at opening. A 1.3 percent dip in Singapore Exchange-traded Nifty50 futures to 16,470.5 as of 7:05 am on Friday hinted at a lower open for major Indian indices. The market witnessed a strong opening on May 5 after a day of crash, but cleared most of the gains in the last hour of trading to end flat on a positive bias, supported by technology, select metals and auto stocks. However, sales in selected banks, FMCG and pharma names limited profits. The BSE Sensex rose 33 points to 55,702, while the Nifty50 fell from 16,950 levels to close with a 5-point gain at 16,683.
Results today
Reliance Industries, Canara Bank, Sundaram-Clayton, Tata Power Company, CSB Bank, Federal Bank, Great Eastern Shipping Company, Bajaj Consumer Care, Apollo Pipes, Apollo Tricoat Tubes, Greenpanel Industries, Grindwell Norton, Hariom Pipe Industries, Kokuyo Camlin, Shipping Corporation of India, Paisalo Digital, Paushak, Reliance Home Finance, Vesuvius India and Vikas EcoTech will release their quarterly results on May 6.
Blue Dart Express
The express air and integrated transportation company posted 20.7 percent yoy growth in its stand-alone after-tax profit of Rs 135 crore for Q4FY22 compared to a profit of Rs 89 crore in the same period last year. Earnings growth was helped by higher revenues and cost efficiency initiatives that improved margins. Operating revenue for the quarter increased 21 percent year-on-year to Rs 1,166 crore as compared to Rs 966 crore in the same period a year ago. Revenue growth was driven by volume growth and better realisations. The company has declared a total dividend of Rs 60 per share for FY21-22.
Tata Motors
Tata Motors has announced its entry into the last-mile electric freight segment with the Ace EV.
TVS Motor Company
The auto company reported lower-than-expected numbers for the quarter ended March. Net profit fell 5 percent year-on-year (YoY) to Rs 274.5 crore, while sales rose 4 percent to Rs 5,530.3 crore.
Mahindra and Mahindra
The Mahindra Group has embarked on a restructuring to split its flagship car company, which contributes 55 percent of group sales, into three, a news report said. The exercise, believed to be at an early stage, involves splitting the electric vehicles, tractors and passenger cars into three independent companies through a splitting process. Currently these are housed under Mahindra & Mahindra as separate divisions, it added.
DCM Shriram
DCM Shriram declares a 73 percent increase in its net profit at Rs 401 crore for Q4FY22 compared to Rs 232 crore in the same period last year. Net sales from operating activities grew 28 percent year-on-year to Rs 2,796 crore compared to Rs 2,191 crore last year, driven by growth in the Chemicals, Vinyl, Fertilizers, Fenesta and Farm Solutions businesses. Sugar revenues declined during the quarter. Higher realizations for the above businesses contributed to earnings growth for the quarter. The company announced a final dividend of 245 percent, bringing its total dividend for the year to 735 percent.
Ceat
Ceat recorded an 83 percent drop in its consolidated net profit for Q4FY22 to Rs 25.25 crore compared to Rs 153 crore in the same period last year. The sharp rise in raw material prices resulted in a decline in profit. However, revenues increased by 13 percent year-on-year to Rs 2,592 crore. For the full year period, profits were down 84 percent to Rs 71 crore compared to Rs 432 crore in FY21. Revenues for FY22 were up 23 percent to Rs 9,363 crore. The company announced a dividend of Rs 3 per share of shares for FY22.
Tribhovandas Bhimji Zaveric
Profit after tax for the quarter fell 72 percent to Rs 2.43 crore compared to Rs 8.6 crore reported in the same period last year due to the impact of the pandemic and geopolitical crisis on aggregate demand. However, revenues increased 18 percent year-on-year to Rs 431 crore compared to Rs 366 crore in the last quarter. For FY22, profits are down 60 percent to Rs 17 crore from Rs 43 crore in FY21. Full year sales increased 37 percent to Rs 1,844 crore. The company has announced a dividend of Re 1 per share of stock for FY22.
blue star
Consolidated net profit for the quarter increased 12 percent year-on-year to Rs 76.27 crore compared to Rs 68.09 crore in the same period a year ago. Operating revenue for the company rose 39.5 percent to an all-time high of Rs 2,247.58 crore compared to Rs 1,611.56 crore in Q4FY21. Net profit for the year was Rs 168.00 crores compared to Rs 100.66 crores in FY21, representing a growth of 66.9 percent. Operating revenue of Rs 6,045.58 crore for the year grew 41.8 percent compared to Rs 4,263.59 crore during FY21. The company recommended a dividend of Rs 10 per share of Rs 2 each for FY22.
Sona BLW precision forgings
The after-tax profit for the quarter increased by 76 percent to Rs 105 crore as compared to Rs 60 crore reported in the same period last year due to lower personnel costs and tax relief related to prior years. However, revenues increased 2 percent year-on-year to Rs 550 crore compared to Rs 539 crore in the last quarter. For FY22, profits rose 68 percent to Rs 362 crore from Rs 215 crore in FY21. The annual turnover increased by 36 percent to Rs 2,130 crore. The company has declared a dividend of Re 0.77 per share for FY22.
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