ONE GLOBAL SERVICE PROVIDER LTD Q3 RESULTS
Amazon in q-comm queue; Big B’s Swiggy stake
Happy Wednesday! Amazon India is gearing up to enter the quick commerce space independently, sources tell us. This and more in today’s ETtech Morning Dispatch.
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.
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.
LIC plays the price game for growth, margins take a back seat, for now
LIC, India's largest insurance provider, shifted its growth strategy, focusing on expansion over margins. In Q1 FY25, it reported a 24% rise in value of new business due to a 21% increase in annualized premium equivalent. This strategy led to a rise in non-par segment premiums but a decline in overall margins.
FII selloff hits Rs 30,000 crore since Budget but why aren't alarm bells ringing?
FIIs have sold Indian stocks worth Rs 30,000 crore since the Budget due to high valuations and global economic concerns. Despite the sell-off, Indian markets remained resilient due to strong domestic investor support. Analysts expect FII behavior to improve by November as key global economic conditions stabilize.
Apollo 24/7 GMV to go up to Rs 1,000 cr per quarter over next 18 months: Suneeta Reddy
Apollo Hospitals' Suneeta Reddy forecasted a 5% price impact for next quarter, citing the recent muted performance from elections and a heatwave. Regional occupancy and margins varied, with Nashik serving as a referral center. Apollo 24/7 aims for Rs 1,000 crore quarterly in six quarters. AHLL is on an improving revenue trajectory despite new centers impacting margins.
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Voltas Q1 net profit soars 160% YoY to Rs 335 crore, stock jumps 10%
Voltas Q1 Results: Air conditioning maker Voltas on Monday posted a 160% year-on-year (YoY) jump in consolidated net profit to Rs 335 crore for the June quarter of FY25. It had clocked Rs 129 crore profit in the year-ago period.
Voltas Q1 Results: Standalone net profit jumps 58% YoY to Rs 339.14 crore, revenue rises 45%
In the company's unitary cooling products segment, which includes the AC business, revenue surged by 51% year-on-year to Rs 3,802.17 crore for the quarter under review. Segment profitability increased by 58% year-on-year, reaching Rs 327.02 crore. As the country's largest AC brand, the company reported record sales of one million units last quarter, with an overall volume growth of 67% year-on-year.
Grasim Q1 Results: Firm reports Rs 52 cr standalone loss versus Rs 355 cr yr-ago profit
Grasim experienced a Rs 52.12 crore standalone loss in the June 2024 quarter, falling from a Rs 355 crore profit a year ago. Revenue grew 11% YoY to Rs 6,894 crore, driven by its diversified businesses. However, the chemicals segment saw a revenue decrease. Grasim shares were up 1.17% to Rs 2,574.45 on NSE.
Biocon Q1 Results: Net Jumps 6-fold to Rs 660 cr on one-time gain
Biocon's net profit for Q1FY25 surged to ₹660 crore, up from ₹101 crore the previous year, primarily due to a one-time gain from selling Biocon Biologics' domestic branded formulation business. Revenue remained flat at ₹3,433 crore. Core EBITDA saw a decline, although overall EBITDA improved significantly due to the one-off gain.
ONGC shares jump on Q1 show, Oil India also
Shares of state-owned ONGC and Oil India rose almost 8% after ONGC's first-quarter profits surpassed estimates. Investors also anticipated strong results from Oil India and higher oil prices due to tensions in the Middle East. Analysts recommended waiting for a potential dip before investing further.
Signature Global Q1 Results: Realty firm posts Rs 7 cr profit against loss YoY
"Continuing with the momentum achieved in FY24, the company reported another stellar performance for the first quarter of FY25. Our operational performance is a testimony of our steadfast commitment to delivering quality products & services to our customers ensuring sustainable profitability and long-term value for all stakeholders," Pradeep Kumar Aggarwal, Chairman and WholeTime Director, said.
NSE Q1 Results: Cons PAT rises 39% YoY to Rs 2,567 crore, revenue jumps 51%
NSE Q1 Results: Revenue from operations for the reported quarter stood at Rs 4,510 crore. The net profit margins for Q1 FY25 were 52%. During this quarter, the bourse allocated an additional Rs 587 crore to enhance the Core Settlement Guarantee Fund (SGF) corpus, raising it to Rs 10,500 crore as recommended by SEBI. After this contribution, the core SGF corpus will stand at Rs 9,726 crore.
Devyani International Q1 Results: Company reports net profit of Rs 22 crore versus loss YoY; revenue jumps 44%
For the June quarter, the company reported revenue from operations of Rs 1,222 crore, a 44% increase year-on-year, driven by improved ADS and store additions. In the corresponding quarter of the previous year, revenue was Rs 847 crore. Consolidated EBITDA for the quarter was Rs 220 crore, with margins at 18.3%, reflecting a 1.7% improvement compared to the previous quarter.
Bharti Airtel Q1 Preview: Revenue may grow by 3% YoY to Rs 38,488 crore, outlook positive
Bharti Airtel is expected to report a revenue of Rs 38,488 crore for Q1 FY24, marking a 2.6% YoY increase. Net profit estimates range from Rs 2,068 crore to Rs 3,922 crore. Axis Securities has the highest revenue estimate at Rs 38,996 crore, and Prabhudas Lilladher forecasts a decline in adjusted PAT.
IT firms’ Q1 job data suggest they may end FY25 with higher headcount
The number of aggregate employees at Tata Consultancy Services, Infosys, Wipro, HCLTech and Tech Mahindra dropped by 2,034 sequentially in the first quarter ended June 30, according to the quarterly data they announced in July. Three of the companies — TCS, Wipro and Tech Mahindra — registered net additions in headcount.
Will Nifty cross 25,000 this week? Fed meeting & 5 other factors to watch out for
The stock market showed strong recovery last week, buoyed by positive US GDP data. This week, factors such as the US Fed meeting, Q1 earnings reports, FII flows, and global economic data could influence market trends. Analysts believe Nifty might hit the 25,000 mark for the first time.
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.
KPIT Tech Q1 profit jumps 54% on one-time gain, revenue up 24%
Pune-based KPIT, an automotive-focussed software services company, saw its net profit jump over 50% on year, while revenue was up over 24% in the first quarter of fiscal 2025.
Lower fuel cracks, tepid global demand and new refineries impacted Reliance's core O2C business: Mukesh Ambani
Reliance Industries' Q1 profit dropped to Rs 15,138 crore, a 5% year-on-year and 20% quarter-on-quarter decline from March's Rs 18,951 crore. The O2C segment experienced a 14.3% EBITDA fall due to lower fuel and petrochemical margins. Petrol margins decreased by 30%, depreciation was Rs 13,596 crore, and finance costs rose despite telecom and retail gains.
Paytm Q1 Results: Consolidated loss widens to Rs 839 crore, revenue plunges 36% YoY
Paytm Q1 Results: One 97 Communications, the parent company of Paytm, reported a widened cons loss of Rs 838.9 crore in the June quarter, compared to Rs 357 crore in the same quarter last year. Revenue for Q1 declined by 36% YoY to Rs 1,502 crore from Rs 2,342 crore in Q1 FY24. Despite this, the company indicated that its revenue and EBITDA, excluding the ESOP loss of Rs 545 crore, met its guidance.
Infosys Q1 headcount drops by 1,908; to hire up to 20,000 freshers in FY25
Total employees at Infosys for the period ending June stood at 315,332 as compared to 317,240 in the March quarter. The employee count declined by 20,962 from a year ago. Infosys said its first-quarter net profit declined 20.1% sequentially, despite seeing a revenue gain of 3.7% quarter on quarter.
Tata Technologies Q1 profit slides 15% on-year, VinFast woes behind
Sequentially, Tata Technologies' net profit rose 3.04% from Rs 157.24 crore in the preceding quarter ending March 2024. Revenue from operations for the quarter stood at Rs 1,269 crore, up 0.9% on-year basis but down 2.5% sequentially.
Paytm Q1 results preview: Revenue may fall by up to 36%, net loss likely to widen
One 97 Communications, operating Paytm, could report a net loss between Rs 1,013 crore and Rs 840 crore and a revenue between Rs 1,532 crore and Rs 1,490 crore for June 2024, according to estimates by two brokerages.
Hathway Q1 Results: Net profit declines 18% YoY to Rs 18.3 crore, revenue at Rs 502.6 crore
Hathway Cable & Datacom Ltd -- provider of cable and internet services -- on Wednesday reported a decline of 18.1 per cent in consolidated net profit to Rs 18.32 crore for the June quarter. The company had posted a net profit of Rs 22.36 crore in the April-June period a year ago, according to a regulatory filing from Hathway Cable, a firm owned by the Reliance Industries Group.
Infosys Q1 Preview: Net profit may jump 6% YoY; strong sequential revenue growth seen
Infosys Ltd is anticipated to show solid sequential revenue growth in Q1 of June 2024, fueled by large deals. Net profit expected to rise by 6% year-on-year. Key areas of interest include deal TCVs, pricing, attrition, and growth/margin outlook. Analysts offer positive forecasts for Infosys performance.
TCS, Infy power D-Street to fresh record highs! Sensex soars 900 points, Nifty tops 24,500 for the first time
Indian markets rose Friday, led by TCS's strong June quarter. Sensex climbed 281 points, Nifty50 up 93 points. Stocks like TCS, Infosys, and Adani Ports surged. Maruti fell. US inflation data raised September Fed rate cut chances, noted by CME FedWatch. RBI's Das predicted 5% retail inflation. Powell's testimony hinted at possible rate cuts.
Q1 results today: HCL Tech, IREDA among 14 companies announce earnings on Friday
TCS has started the first quarter earnings season with positive results, signaling an improved business environment. Today, HCL Tech, along with 13 other companies, will announce their earnings for the quarter ended June. Other notable companies reporting earnings include 5paisa Capital, Atharv Enterprises, Betala Global Securities, Gautam Gems, Golkonda Aluminum, Indo Cotspin, Infomedia Press, IREDA, and Oriental Hotels.
IT stocks rally up to 4% as an early indicator of Q1 earnings just gave green signals
Indian IT stocks surged following positive results from Accenture, with Persistent Systems leading the gains. Analysts expect a strong demand environment to drive healthy earnings growth.
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