Coal India: The company reported a 17% increase in its consolidated net profit at ₹9,069 crore for the quarter ending on December 31, 2023, compared to ₹7,755 crore recorded in the corresponding period last year. Revenue from operations experienced a modest 3% year-on-year growth at ₹36,154 crore in Q3FY24, as opposed to ₹35,169 crore reported during the same period last year.
Eicher Motors: The company is likely to report robust Q3FY24 results, with solid double-digit net profit growth and high single-digit revenue growth, aided by strong sales volumes in Royal Enfield bikes and its commercial vehicles portfolio, when it announces its third-quarter results on Tuesday, February 13.
Steel Authority of India: The PSU’s consolidated net profit droppped 22% at ₹422.92 crore for the December quarter, compared to the ₹542.18 crore recorded in the same quarter last year. Revenue from operations for the quarter stood decreased 6% to ₹23,348.64 crore, from ₹25,042.10 crore a year ago, SAIL said in an exchange filing on February 12.
Mazagon Dock Shipbuilders: The company saw its net profit jump 76% YoY to ₹592 crore in Q3FY24. Its revenue during the December quarter gained 30% YoY to ₹2,363 crore, while EBITDA increased 71% to ₹808 crore. Finance costs fell to ₹1.29 crore in the quarter from ₹1.48 crore in the previous year. Sub-contract expenses plunged to ₹143.81 crore from ₹224.69 crore in the corresponding quarter of the previous year.
Hindalco Industries: The company’s subsidiary Novelis recorded a net income attributable to common shareholders of $121 million for the quarter ended December FY24, growing 10-fold over $12 million in the year-ago period. Net sales decreased 6% YoY to $3.9 billion for the third quarter of the fiscal year 2024, driven by lower average aluminium prices as shipments were in line with prior-year levels.
Aurobindo Pharma: The company anticipates a $20-million hit in the January-March 2024 quarter, due to a temporary pause of manufacturing and distribution activities at its crucial Eugia Unit-III formulation facility in Telangana, following certain red flags raised by the US drug regulatory agency FDA in the recently concluded inspections.
Dilip Buildcon: The construction and infrastructure development company registered a 3.3% year-on-year decline in consolidated profit at ₹107.4 crore despite healthy topline, and operating numbers. Revenue from operations during the quarter at ₹2,876.8 crore increased by 23.87% over a year-ago period.
Paytm: Reserve Bank of India (RBI) governor Shaktikanta Das on Monday ruled out any review of the central bank’s action against Paytm Payments Bank, saying the decision was taken after a lot of consideration and a comprehensive analysis of the lender’s functioning. The RBI on January 31, had directed PPBL to stop accepting deposits or top-ups in customer accounts, wallets, FASTTags and other instruments after February 29 citing large scale non-compliance of regulations and supervisory concerns.
Bandhan Bank: One of the Big Four accounting firm EY is conducting a forensic audit on a portion of Bandhan Bank’s loan book backed by government guarantees, two people aware of the development said. The audit was commissioned by the National Credit Guarantee Trustee Co. (NCGTC), a state-run entity that operates and manages various credit guarantee trust funds of the government. It will cover Bandhan Bank’s loans of around ₹23,000 crore.
Jindal Steel & Power: The company’s environmental application to develop an iron-ore mine in South Africa at a cost of as much as $2 billion was rejected recently. The company will appeal the decision, Parshant Kumar Goyal, the general manager for mines and business development at Jindal Africa, said when called by Bloomberg.
