BHARAT PETROLEUM CORPORATION LTD Q3 RESULTS
Take notice! In a muted Q1 season, these 14 companies doubled sales and profits
14 companies with market capitalization exceeding Rs 2,500 crore demonstrated exceptional performance in Q1 2024, doubling their sales and profits. Top performers included Spright Agro and Diamond Power Infrastructure. The broader market saw mixed results with sectors like BFSI and automobile doing well, but oil marketing companies underperforming.
Q1 results shocker: 40 companies report more than 50% drop in profit
The profits of 40 Indian companies have plummeted by more than 50% in the June quarter, primarily due to higher raw material costs and unfavorable base effects. Notable names like Allcargo Logistics and Rajesh Exports saw drastic declines. Analysts suggest cautious investment strategies amid high market valuations and slowing profit growth.
Railway sector Q1 review: Average PAT decline 16% QoQ, revenue down 24%. What are your cues?
The railway sector reported an average 16% drop in net profits and a 24% revenue decline for the quarter ending June 30, 2024. Ten out of thirteen companies saw decreased profits, and all experienced revenue declines. Stocks have fallen by up to 32% from their 52-week highs, raising concerns about performance.
BPCL plans Rs 1.7 lakh cr spend to expand core biz, new energy foray
Bharat Petroleum Corporation Ltd plans to invest Rs 1.7 lakh crore over the next five years to expand its oil refining and fuel marketing businesses and venture into petrochemicals and green energy. The initiative, named Project Aspire, aims for substantial growth and supports India’s energy transition goals, targeting net-zero carbon emissions by 2040.
IRCTC Q1 Results: Profit rises 33% YoY to Rs 308 crore; revenue up 12%
IRCTC Q1 Results: State-run Indian Railway Catering and Tourism Corporation (IRCTC) on Tuesday reported 33% growth in its consolidated net profit at Rs 308 crore in the first quarter ended June 2024.
IRFC Q1 results: PAT up 1.6% YoY to Rs 1,577 crore, revenue uptick at 1.4%
IRFC Q1 results: State-run Indian Railway Finance Corporation (IRFC) reported a net profit of Rs 1,577 crore for the quarter ended June 30, 2024 which was up by 1.6% over Rs 1,551 crore reported by the company in the year ago period.
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Bharat Dynamics shares tank 19% post Q1 results but ICICI Securities upgrades to buy
Bharat Dynamics’ Q1 profit after tax was Rs 7.21 crore, compared to Rs 41.81 crore in the same quarter last year. The PSU defense company’s revenue from operations in Q1FY25 dropped by 35.8% year-on-year to Rs 191.16 crore, down from Rs 297.72 crore. The company also reported an increased EBITDA loss of Rs 52.3 crore for the quarter ended June 2024, up from a loss of Rs 32.6 crore in the corresponding quarter of the previous financial year.
GAIL chairman Sandeep Gupta wildcard for Indian Oil Corporation
On Sunday, a search-cum-selection panel interviewed nearly a dozen candidates to appoint a new chairman for Indian Oil Corporation (IOC). One unexpected candidate, Sandeep Gupta, joined the list of contenders. The current chairman, Shrikant Madhav Vaidya, is set to retire after his extension ends on August 31, 2024.
LIC stock portfolio surges to Rs 15 lakh crore, 95 stocks sold in Q1
Life Insurance Corporation of India's equity portfolio has nearly doubled in three years to Rs 15.72 lakh crore. In the June quarter, LIC reduced stakes in 95 stocks, including Bank of Maharashtra, while increasing investments in firms such as Infosys and TCS. Fund managers advise rotating into value sectors for optimal returns.
Bharat Forge Q1 Results: Net profit declines 18% YoY to Rs 175 crore
The group secured new orders worth Rs 980 crore across defence, ferrous and aluminium castings and the core forging business, he added
PFC Q1 Results: Net profit rises over 20% YoY to Rs 7,182 crore
PFC Q1 Results Latest Updates: The company's board also approved declaration of an interim dividend at the rate of 32.50 per cent or Rs 3.25 per equity share (subject to deduction of TDS) on the face value of the paid-up equity shares of Rs 10 each for FY25.
SBI will grow but not at the cost of profitability; aspires to generate Rs 1 trillion PAT: Dinesh Kumar Khara
SBI Chairman Dinesh Kumar Khara highlighted the bank's balance of stakeholder interests and profitability. He expressed satisfaction with their current growth and future goals, including a profit target of one trillion after tax. Khara addressed the rise in loan loss provisions and emphasized continued focus on corporate credit growth and loan book expansion.
RailTel Q1 Results: PAT jumps 27% YoY to Rs 49 crore, revenue rises 19%
RailTel Corporation had posted a net profit of Rs 38.39 crore in the same period last year. Revenue from operations also rose by 19%, totaling Rs 558.11 crore, up from Rs 467.61 crore in the previous year's quarter.
Another sector whose quiet transformation will have an impact: 6 energy stocks which can give more than 17% returns in one year
While structural transformation in the auto sector into EV is much talked about and given credit by the street, the fact is that the energy sector as a whole has been quietly going under a transformation. In terms of real impact on the economy it would be much bigger. Many would have not realized that large companies which are in the energy space have been forming joint ventures or subsidiaries to get into new energy areas. Even when elections were going on, a PSU company kicked its hydrogen initiatives and because it was a quiet period for the government as the model code of conduct was going on, not much was talked about it. Energy as a business requires tons of capital and also patience to make the business not only profitable but also the stocks sustainable wealth creator, but once a solution reaches a scale then there is no looking back as it is not easy to enter the sector.
BEL Q1 results: Standalone PAT jumps 46% YoY to Rs 776 crore, revenue rises 20%
BEL Q1 Results 2024: Bharat Electronics (BEL) posted a 46% year-over-year increase in Q1 2024 standalone net profit, reaching Rs 776.14 crore. Revenue climbed 19.6% year-over-year to Rs 4,198.77 crore. However, quarterly net profit and revenue dropped significantly. Shares rose 5% post-results. BEL secured major contracts, including one with Armoured Vehicles Nigam Limited, boosting its order book.
TCI Q1 results: Net profit up 10% to Rs 92 crore
The Transport Corporation of India (TCI) reported a 10% increase in consolidated profit after tax, reaching Rs 91.6 crore for the quarter ending June 30, 2024. Revenue also rose to Rs 1,056 crore. The company's growth was seen across various segments, including coastal shipping and cold chain logistics, with significant investment in infrastructure to enhance efficiency.
Dolly Khanna adds multibaggers Nile, Tina Rubber, 3 more stocks in June quarter, slashes stake in 3 smallcaps
Among the new additions were Emkay Global Financial Services (1.63%), Super Sales India (1.06%), Nile (1.10%), Tinna Rubber and Infrastructure (1.03%) and Ujjivan Small Finance Bank (1.07%). In these Emkay Global, Nile and Tina Rubber have been multibaggers, delivering returns of 120%, 177% and 349% over the last one year. Super Sales, on the other hand, has given returns of 58% in this period.
Petronet LNG Q1 results: Profit jumps 45% to Rs 1,142 crore, revenue up 15%
Petronet LNG (PLL) reported a 45% jump in the first quarter profit to Rs 1,142 crore as a scorching summer boosted capacity utilization of its import terminal, sending its shares up 5% on Wednesday.
Budget 2024 gives a miss to capital infusion in OMCs. How it impacts BPCL, others?
Shares of Bharat Petroleum Corporation (BPCL) today ended at Rs 306 on the NSE, down by Rs 2.25 or 0.73% over the previous closing price. Meanwhile, Hindustan Petroleum Corporation (HPCL) shares settled at Rs 345 falling by 0.5%. Indian Oil Corporation (IOC) was the top loser falling 1.4% to close the session at Rs 165.85.
BPCL Q1 Results: Standalone PAT tumbles 71% YoY to Rs 3,015 crore; revenue growth flat
State-owned BPCL disclosed a standalone net profit of Rs 3,015 crore for the first quarter ending June 2024. This marks a decline of 71% compared to the Rs 10,551 crore reported in the same quarter of the previous year.
Indian Oil capex at Rs 8,500 crore in Q1, ONGC's Rs 8,000 crore
Indian Oil and ONGC led Q1 spending with ₹8,500 crore and ₹8,000 crore, contributing to ₹26,500 crore spent by state oil firms out of a ₹118,500 crore budget. Hindustan Petroleum, Bharat Petroleum (₹1,600 crore), GAIL (₹1,500 crore), and Oil India participated, investing in refinery expansions, gas distribution, and projects like HPCL’s Barmer refinery.
India-Russia to push long-term arrangement for crude supplies at annual summit
New Delhi and Moscow aim to establish a long-term arrangement for crude oil supplies during PM Narendra Modi's visit on July 8-9. The discussions have been sparked by the increase in Russian oil exports. The focus is on ensuring a consistent supply of Russian crude to India at discounted rates. This proposed arrangement has been a topic of ongoing talks between the two nations.
Government to get Rs 3,662 crore from LIC as dividend
The government, the largest shareholder in the company, currently holds 96.50% stake in it accounting for 6,10,36,22,781 shares out of 6,32,49,97,701 fully paid up equity shares.
ONGC Q4 Results: Net profit jumps 19 times to Rs 9,869 crore
India's top oil and gas producer had made a provision of Rs 9,235 crore in the January-March 2023 quarter towards disputed taxes for the period from April 1, 2016, to March 31, 2022.
BPCL Q4 Results: Net profit down 30% YoY to Rs 4790 crore on weak refining margins
FY24 net profit highest at Rs 26,674 crore. Company issues 1:1 bonus; declares dividend of Rs 21 per share. Revenue from operations declined 5% from Rs 5.06 lakh crore to Rs 5.33 lakh crore
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