PRUDENT CORPORATE ADVISORY SERVICES LTD Q1 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.
India Inc feels the pinch! Earnings downgrades in Q1 highest since June ’20
Corporate India's June quarter earnings expectations hit a low not seen since the immediate aftermath of the Covid shutdowns. The upgrade-to-downgrade ratio fell to 40%, reflecting a slowdown in demand, with 393 companies facing downgrades and 247 companies seeing upgrades. Analysts expect the earnings situation to improve from September 2024 onward.
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.
Dr Reddy's Laboratories, TCS top stocks to buy post June quarter results: Siddhartha Khemka
The 1QFY25 corporate earnings report revealed both growth and challenges in India’s market. The Nifty50’s earnings rose 4% YoY, aided by companies like HDFC Bank and Tata Motors, despite setbacks from Oil Marketing Companies. The auto sector displayed strong volume growth, while IT services and healthcare sectors met expectations with promising future outlooks.
Veranda Learning Solutions achieves stellar Q1FY25 growth, revenue surges 70%, EBITDA jumps fivefold
Veranda Learning Solutions reported strong Q1FY25 financial results, with operating revenue up 72.69% to Rs 118.99 crores and EBITDA increasing by 400% to Rs 27.61 crores. The company trained 113,262 students and attributed its success to strategic partnerships with Cambridge, Pearson, and KSDC. The company aims for Rs 600 crores in revenue for FY25.
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Oil and gas spoil India Inc show in June Quarter
In the June 2024 quarter, India's industry saw modest growth with a 9.4% net profit increase, mainly due to lower refining and marketing margins in the oil and gas sector. Banking and finance sectors performed well with significant revenue growth. The overall operating margin declined to 17.4%. Future growth hinges on rural demand revival post-monsoon.
Q1 results this week: HAL, Ola Electric, Vodafone Idea, IRFC, and Nykaa among 85 companies to announce quarterly earnings
Several widely followed companies, including Vodafone Idea, Hindustan Aeronautics (HAL), Mazagon Dock, Hero MotoCorp, IRFC, IRCTC, HUDCO, Apollo Hospitals, Samvardhana Motherson, GMR Airports Infrastructure, Nykaa, and Ola Electric will be releasing their June quarter report cards this week. Here’s the list:
Prudent Corporate Advisory reports a 51% increase in revenues and a 57% rise in profits
This significant revenue growth was driven by a 52% increase in the quarterly average assets under management (AUM) in the mutual fund sector, alongside a 64% rise in revenues from non-mutual fund products.
Inox Green Energy Services Q1 Results: Profit jumps 55% YoY to Rs 4.14 cr
Inox Green Energy Services is a subsidiary of Inox Wind Limited (IWL) which is India's leading wind energy solutions provider catering to independent power producers, utilities, public sector units and corporate investors
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.
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.
Q1 results, IPO action among 10 factors that will steer D-Street this week
The Street will react to major earnings reports from SBI, Divi’s Laboratories, Titan, and Britannia when markets resume trading on Monday. Additionally, 922 BSE-listed companies will announce April-June earnings, including Bharti Airtel and Tata Power. Indian markets will take cues from US market closures and GIFT Nifty futures.
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.
Suzlon shares zoom 23% since Q1 results. Still time to ride the rally?
Suzlon Energy's shares hit a new high following a 23% rally spurred by impressive Q1 results, including a 200% year-on-year profit gain and a 50% revenue increase. Brokerage firms have raised target prices, highlighting the company's strong order book and improved financial health.
Prudent surpasses Rs 1 lakh crore in MF assets under management
Prudent Corporate Advisory Services reported surpassing Rs 1 lakh crore in assets under management by July 26, 2024. This achievement reflects a fivefold growth in equity AUM over the last five years, benefitting over 17 lakh investors, according to Chairman Sanjay Shah.
Sensex falls over 300 pts as RIL & bank stocks tumble, Nifty below 24,400
Ahead of the budget, Indian markets fell. Sensex dropped 355 points, Nifty50 by 148 points. Reliance fell 2.5% from lower fuel margins; HDFC Bank, the country's top private lender, rose 1% after beating profit forecasts; Wipro dropped 8% due to weak demand in Europe and Asia-Pacific. Mixed performance among key stocks in early trading.
JSW Infrastructure shares tank over 7% post Q1 results. Should you buy or sell?
JSW Infrastructure Share Price: JSW Infrastructure shares fell 7.4% to Rs 311 due to an 8% profit drop to Rs 296.55 crore amid higher expenses.
Persistent Systems shares tumble 7% after Q1 results disappoint investors
Persistent Systems shares fell 7% after reporting a 2.8% profit decline in Q1FY25, despite a 34% YoY PAT rise. Revenue grew 18% YoY. Orders hit $462.8 million TCV, $337.3 million ACV. CEO Kalra praised 17 growth quarters, AI services. ISG ranked them a leader. Stock rose 80% last year, 26.60% YTD. Considering QIP on July 23. SpiceJet capital raise.
Infosys Q1 earnings; payment cos seek UPI sops
IT major Infosys logged a rise in profits for the first quarter of FY25. This and more on today’s ETtech Top 5.
Q1 results this week: RIL, Paytm, Infosys, Jio Financial among 418 companies to announce quarterly earnings
Several widely followed companies, including Jio Financial, Paytm, Bajaj Auto, Asian Paints, LTIMindtree, Infosys, Reliance Industries, Wipro, Union Bank of India, Kotak Mahindra Bank, Tanla Platform, Tata Technologies, and YES Bank, will be releasing their June quarter report cards this week.
Q1 results, FII action among 10 factors to impact D-Street mood this week
Nifty gained 1.2%, driven by IT, energy, and pharma stocks. U.S. labor data, TCS earnings, Rupee vs. Dollar, Bank Nifty, oil prices, FIIs, IPO action, and dividends will influence markets next week. Bulls maintain strength with positive sentiment and broader market participation, expecting some consolidation.
HDFC Bank gross advances jump 52.6% on-year in Q1 to Rs 24.8 lakh crore
HDFC Bank's gross advances increased by 52.6% year-on-year to ₹24.87 lakh crore in the quarter ending June 30, driven by its merger with HDFC Limited last July. Excluding the merger impact, advances grew by 14.9% from June 30, 2023, reaching ₹25.08 lakh crore by March 31, 2024.
TA FDI investors lowers stake in Prudent Corporate
Canara Robeco Mutual Fund, DSP Mutual Fund and Kotak Mutual Fund were among some of the buyers in the deal. Shares fell 5.21% to close at ₹1,640 on Tuesday. In the last one month, the company's shares gained 6.11% against an up-move of 0.35% in BSE SmallCap Index in the same period.
SBI, Godrej Consumer top buys post Q4 results; could give 13-17% upside in 1 year
SBI and Godrej Consumer are top buys post Q4 results, led by BFSI and Auto sectors. Nifty stocks show growth, while Tier-1 IT companies face challenges. Business and credit growth outlook positive for SBI.
Prudent Corporate Advisory Q4 Results: PAT grows 19% YoY to Rs 138.7 crore
A retail wealth management services firm engaged in distributing a wide range of financial products reported a 32% growth in yearly average asset under management (AUM) in the mutual fund vertical and a 50% growth in revenues from non-mutual fund products.
Our overall AUM contributing to huge top and bottom line growth: Sanjay Shah, Prudent Corporate Advisory
So, I think we are very confident that SIP is an evolving story for the retail people and there is a strong TINA factor because there is no alternative for people to invest a small-small amount other than the SIP from a very longer-term perspective.
TA Associates divests 8% stake in Prudent Corp for Rs 414 crore
TA Associates through its arm TA FDI Investors Ltd offloaded shares of Prudent Corporate Advisory Services on the National Stock Exchange (NSE). According to the bulk deal data available with the NSE, TA FDI Investors offloaded 33,12,534 shares, representing an 8% stake in Prudent Corporate Advisory Services.
Prudent Corporate Advisory Q3 Results: PAT grows 25% YoY to Rs 35.7 crore
As of December 31, 2023, the closing Assets Under Management (AUM) stood at Rs 77,774 crore. The Systematic Investment Plan (SIP) book witnessed a 32% year-on-year growth in December, reaching Rs 649 crore. The company has announced a 33% growth in revenue from operations, reaching Rs 209.9 crore.
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