PUNJAB WOOLCOMBERS LTD Q4 RESULTS
PSU banks' Q1 results decent, but are valuations supportive of next leg of the rally?
Despite strong Q1 results, PSU bank stocks have fallen nearly 6% over the past month due to valuation concerns. Experts predict stock-specific action rather than a broad rally. While SBI posted a modest 1% YoY profit increase, other public lenders like PNB, Uco Bank, and CBI reported impressive double-digit growth.
A play on revival of capex cycle: 5 PSU banks with an upside potential of up to 36%
After a gap of almost three months, PSU banks witnessed an across the board up move. If one looks deeper, even in the last three months of correction or rather consolidation, the cut in PSU stocks was not very high. They moved in a sideways range. This is very different if one takes into account how the stock used to lead the correction earlier. The re-rating of PSU banks has to be divided into three parts, the first part which was about clean up of the banking system which was full of NPA brushed under the carpets and they got cleaned up and their balance sheets became more reliable. Second part was mergers which meant improvement in the operational efficiency. Now it is the third part, which is more important, growth and that too profitable growth. Is now the street getting ready to re-rate them because of loan book growth, which is showing green shoots due to the capex cycle starting back
PNB shares rally 7% after reporting 159% YoY jump in Q1 profit. Should you invest?
PNB Share Price Target Buy or Sell: Punjab National Bank's shares surged 7% after announcing a 159% YoY jump in net profit for Q1 FY25, reaching Rs 3,252 crore. Net interest income rose by 10% to Rs 10,476 crore. The bank saw improvements in asset quality and a YoY deposit growth of 8.50%. Brokerages had mixed views on the stock, with some recommending a sell.
PNB Q1 Results: Net profit after tax jumps 159% YoY, NII rises 10%
Punjab National Bank saw a 159% rise in net profit to Rs 3,252 crore for the June 2024 quarter. Net interest income grew by 10% while total income increased by 12.5%. The GNPA ratio improved to 4.98%, and NNPA declined. The bank's global business and deposits also showed notable growth. Shares closed nearly 2% higher.
PNB Housing Finance Q1 results: Profit jumps 25% to Rs 433 crore
PNB Housing Finance has reported a 25% growth on year in the first fiscal to get a profit of Rs. 433 crores, from Rs. 347 crores a year ago as the company saw good productivity in the 100 branches it added from December last year to March 2024.
Punjab & Sind Bank Q1 Results: Net profit rises 19% to Rs 182 crore
State-owned Punjab & Sind Bank on Friday reported a 19 per cent rise in net profit to Rs 182 crore in the June 2024 quarter, helped by a decline in bad loans. The Delhi-based lender had earned a net profit of Rs 153 crore in the year-ago period.
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Bank stocks fall for a third day on Q1 slip
"Major private banks like Kotak, Axis and HDFC have reported their earnings which have not been up to the mark and most missed estimates," said Shreyansh Shah, Research Analyst, Stoxbox. "Investors have booked profits following the results leading to the decline in the index."
Q1 result season begins: 30 companies may report over 100% growth in profit
Nifty may report 4% Q1 earnings growth driven by BFSI, auto, metals, healthcare, and real estate, with Trent and Zomato showing significant consumption sector growth. Pharmaceuticals Glenmark Pharma and Laurus Labs have high growth, private and PSU banks lower. Motilal Oswal and Kotak predict 30 companies may report over 100% profit growth.
Q4 results: Stable costs boost India Inc. profits
Steady costs and firm domestic demand supported corporate performance in the March quarter.
Restructuring impacts even the smallest player: 5 not so much talked about PSU banks
When it comes to PSU banks, all the limelight is taken by the top players, like SBI, BoB, PNB and one or two others. But the fact is that there are many other small PSU banks, which of course have smaller books and less of national presence, but the fact is that they have been also the beneficiary of the “ reconstruction and restructuring" (R&R) which both government and RBI have done in the banking sector in the last seven years. The good part of any R&R exercise in banking is that all the players whether it is small or large have to follow the rules and that ensures that the operating matrix improves across the sector and which leads to long term beneficial impact. We take a look at 5 small PSU banks, which are not normally in news, but over years they have also seen an improvement in their working. Yes, they have their own risks in terms of loan book and other business risk, but then because they are under owned in institutional space, a bit of institutional buying can lead to sharp re-rating.
Punjab & Sind Bank Q4 Results: Net profit slumps 70% YoY to Rs 139 crore
The total income increased to Rs 2,894 crore during the quarter under review against Rs 2,652 crore in the same period last year, Punjab & Sind Bank said in a regulatory filing.
Q4 results today: Tata Motors, Cipla among 87 companies to announce earnings
Q4 results today: Several other companies scheduled to release their financial results include Cholamandalam Finance, Eicher Motors, Finolex Industries, Jupiter LifeLine Hospitals, Kalyan Jewellers, Piramal Pharma, Punjab and Sind Bank, Spencers Retail, TCI Express, Thermax, and more.
PNB Q4 results: Net profit surges 160% YoY to Rs 3,010 crore; NII rises 9%
Public sector lender Punjab National Bank (PNB) on Thursday reported a 160% year-on-year (YoY) surge in Q4 net profit at Rs 3,010 crore, while the net interest income (NII) rose to Rs 10,363 crore in the quarter, rising 9% YoY.
PNB Q4 Results: Profit jumps nearly three-fold to Rs 3,010 crore
PNB Q4 Results: Interest income grew to Rs 28,113 crore during the period under review, from Rs 23,849 crore in the corresponding quarter a year ago.
Q4 results this week: SBI, Tata Motors, L&T, Asian Paints, TVS Motor and PB Fintech
Various widely tracked companies like Tata Motors, SBI, Asian Paints, BPCL, Larsen & Toubro, Tata Power, Canara Bank, TVS Motor, Hero MotoCorp, Godrej Consumer Products, JSW Energy, Dr. Reddy's Laboratories, PB Fintech, and Bank of Baroda will be releasing their March quarter report cards this week. Here’s a list:
DMart Q4 Results: PAT grows 22% YoY to Rs 563 crore, revenue up 20%
The profit was Rs 460 crore in the corresponding quarter of the previous financial year. The retailer's EBITDA rose 22.3% YoY to Rs 943 crore while its operating profit margin also a growth of 13 bps at 7.41%.
Q4 results preview: 29 companies likely to report doubling of profit
29 companies expected to double profits in Q4FY24 across various sectors like BFSI, Auto, Healthcare. Notable companies include Adani Ports, KEC International, Birla Corporation, JK Cements, United Breweries, Gland Pharma, Quess Corp Ltd, Signature Global, NMDC.
Q3 Results Today: Yes Bank, Macrotech Developers among 31 companies to announce earnings
JSW Steel on Thursday reported robust growth in the consolidated net profit for the quarter ended December, as the bottom line rose nearly 5 times from the year-ago period to Rs 2,415 crore and also beat ETNow estimates of Rs 1,719 crore.
Axis Bank, Bajaj Auto Q3 earnings among 10 factors to drive D-Street in holiday-shortened week
"Nifty concluded the week at 21,571.80, marking a decline of 323 points from 21,894 levels, on a weekly basis. Pharma, realty, and metal sectors faced selling pressure. Despite persstent attempts to breach crucial resistance, each of them resulted in a sell-off,” Om Mehra, Technical Analyst, at SAMCO Securities said.
Punjab National Bank shares jump over 6% after multifold jump in Q2 profit
Operating profit (before provisions and contingencies) jumped 12% to Rs 6,216 crore in the reporting period against Rs 5,567 crore in the last year period. Provisions during the second quarter fell nearly 30% year-on-year (YoY) to Rs 3,444 crore. The same stood at Rs 4,906 crore in the corresponding quarter of previous year.
Punjab National Bank Q1 Results: Net profit jumps four-fold to Rs 1,255 crore
Total income in the first quarter of the current fiscal rose to Rs 28,579 crore as against Rs 21,294 crore, PNB said in a regulatory filing.The lender's interest income also increased to Rs 25,145 crore from Rs 18,757 crore in the same quarter a year ago.
Q1 earnings: 26 companies that may report over 100% jump in profit
Domestic brokerage Motilal expects Nifty earnings to grow 25% YoY in Q1. Oil and gas sector may report a 3x surge in profit YoY underpinned by the improvement in marketing margins of OMCs. Auto sector’s earnings may surge 11x YoY during the quarter on a low base.
Number of Nifty200 cos with double-digit profit growth down sharply in 4 quarters; will they recover in FY24?
In Q1 2023, nearly half of the companies in the Nifty 200 index posted profit growth, despite a smaller number achieving a growth rate of over 25% than in the previous quarter. Russia's invasion of Ukraine and rising commodity prices, along with increasing interest rates and inflation, hit earnings through most of the first three quarters of FY23. However, commodity prices began to ease toward the end of the year, with many companies reporting solid sequential and year-on-year performance. Q2 2024 is expected to be less successful than FY23 due to macroeconomic headwinds impacting the tech sector
Stocks of these 21 cos tumble over 20% in 1 year as profits slump for 4 straight quarters
At least 21 Indian companies with a market cap of over INR 5bn ($66m) saw their profits decline in each of the past four quarters and their stocks suffer negative returns in the last year, according to ET Markets. Five of the companies belong to the pharmaceutical sector, while three operate in specialty chemicals. Laxmi Organic Industries saw net profit fall by 37-66% YoY in the last four consecutive quarters, while Motilal Oswal Financial Services's profit fell 45% and 86% in the March and June quarters, respectively. Experts have recommended that investors focus on domestic sectors in the coming quarter while global growth remains lukewarm.
PNB Q4 Results: PAT grows multifold to Rs 1,159 crore; NII up 30% YoY
Punjab National Bank (PNB) reported strong growth in standalone net profit during the fourth quarter, with the profit rising 477% from Rs 201 crore posted in the year-ago quarter. The Board has also recommended a dividend of Rs 0.65 per equity share (32.5%) of face value of Rs 2 each for fiscal 2022-23. Net interest income (NII) for the reporting quarter came in at Rs 9,499 crore, up 30%, compared with Rs
Q4 results this week: ITC, SBI, Zomato, IndiGo, Indian Oil, Airtel and others
Several Indian companies, such as Indian Oil, SBI, Bharti Airtel, and ITC, are set to announce their fourth-quarter results this week. The investor community is keenly waiting for these numbers amid mixed quarterly results from IT firms but strong numbers from banking and financial institutes. Listed companies like Punjab National Bank, Divi's Labs, Power Grid, Muthoot Finance, and FMCG major ITC will disclose their earnings between May 18 and May 20.
UCO Bank, Punjab & Sind Bank shares fall over 4% post Q4 earnings
UCO Bank and Punjab & Sind Bank's shares fell over 4% after posting Q4 FY23 earnings. UCO Bank recorded its highest-ever net profit of Rs 1,862.34 crore, a 100.3% YoY increase. Its global business increased to Rs 4,10,967.19 crore and net NPA reduced by 141 basis points to Rs 2,018 crore. Punjab & Sind Bank recorded a net profit of Rs 457 crore, a 32.08% YoY growth. While its net NPA reduced by 18 basis points to Rs 1.84%, its priority and agriculture sector advances were above regulatory targets.
Q4 Results Today: UCO Bank, Punjab & Sind Bank, Newgen Software Technologies
UCO Bank reported the highest-ever net profit of Rs 1,862.34 crore for the Q4, a 100.3% YoY rise. Its NII in Q4 came in at Rs 3,743.13 crore, up 13.44% YoY and its global business touched Rs 4,10,967.19 crore. Net NPA decreased by 141 basis points to Rs 2,018 crore, while the loan book in Q4 stood at Rs 1,61,629 crore, up 24.54% YoY. Punjab & Sind Bank's net profit grew 32.08% YoY to Rs 457 crore in Q4 while Newgen Software Technologies' net profit increased by 37% YoY to Rs 78.6 crore in the same period.
Q4 results this week: HDFC, Adani Enterprises, Tata Steel, Titan, Varun Beverages, others
Mixed Q4 earnings season so far with IT companies disappointing, but strong results from financial and banking sector helped markets. Investors will track corporate earnings and global trends to gauge market direction. This week, Adani Enterprises, Titan Company, HDFC, TVS Motor, Hero MotoCorp, Tata Steel, and several other companies will announce their results. Notable companies announcing include Tata Steel, Titan Company, HDFC, Adani Enterprises, TVS Motor, Hero MotoCorp, Britannia Industries, and Marico.
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