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Friday 11 November 2022

In News

In News


DCX Systems: The company will make its grand debut on the bourses on November 11. The issue price is Rs 207 per share. Analysts largely expect the stock to list with 35-40 percent premium over issue price.


Eicher Motors: The automobile company registered highest ever quarterly revenue and profits. It recorded a massive 76 percent year-on-year growth in profit at Rs 657 crore for the quarter ended September FY23 backed by strong operating as well as top line performance. Revenue from operations at Rs 3,519 crore for the quarter grew by 56.4 percent and EBITDA increased by 75 percent to Rs 821.4 crore compared to year-ago period. Margin expanded to 23.3 percent from 20.9 percent in the same period. Topline and bottomline were largely in line with analysts' estimates, but operating performance slightly missed estimates. Royal Enfield sold 2.03 lakh motorcycles in September FY23 quarter, an increase of 64.7 percent YoY.


Zomato: The food delivery giant posted net loss at Rs 251 crore for the quarter ended September FY23, narrowing sharply from loss of Rs 430 crore in same period last year with strong top line and improving operating performance. Revenue from operations for the quarter at Rs 1,661 crore increased by 62 percent over a year-ago period, and EBITDA loss narrowed to Rs 311 crore from loss of Rs 536 crore in the same period. Hence, the quarterly earnings included ~50 days of Blinkit financials.


Apollo Hospitals Enterprises: The healthcare services provider reported a 20 percent year-on-year decline in profit at Rs 212.8 crore for the quarter ended September FY23 impacted by weak operating performance, and higher purchases of stock-in-trade. Revenue from operations grew by 14.4 percent to Rs 4,251 crore compared to year-ago period. EBITDA for the quarter at Rs 565.4 crore declined by 8 percent and margin fell by 330 bps YoY to 13.3 percent for the September FY23 quarter.


Adani Power: The company has entered into a Memorandum of Understanding to sell its 100 percent equity stake in subsidiary, Support Properties (SPPL) to AdaniConnex. The transaction value is Rs 1,556.5 crore. ACX is a 50:50 joint venture between promoter group company Adani Enterprises, and EdgeConneX.


Jindal Steel & Power: The company has recorded a 92.3 percent year-on-year decline in consolidated profit at Rs 200 crore for the quarter ended September FY23, impacted by dismal operating performance and fall in top line. Revenue from operations fell 0.7 percent YoY to Rs 13,521.4 crore in Q2FY23. EBITDA tanked 58 percent to Rs 1,931.4 crore and margin contracted by 1,950 bps to 14.3 percent compared to year-ago period. JSPL has prepaid its entire overseas long term debt.


Bata India: The footwear company has reported 37.7 percent year-on-year increase in standalone profit at Rs 51.1 crore for the quarter ended September FY23 backed by strong operating performance and top line. Revenue during the quarter at Rs 830 crore increased by 35 percent YoY, and EBITDA rose 35.1 percent to Rs 160.9 crore compared to year-ago period.


Adani Green Energy: The company recorded a massive 49 percent year-on-year increase in consolidated profit at Rs 149 crore for Q2FY23 led by lower cost of materials sold and finance cost. Revenue from operations increased by 19.5 percent to Rs 1,686 crore and EBITDA grew by 9 percent to Rs 966 crore compared to same period last year, but the margin dropped 550 bps YoY to 57.3 percent in Q2.


Alkem Laboratories: The pharma company has received Form 483 with 3 observations from US FDA for its manufacturing unit in St. Louis, USA. There is no data integrity observation. The US FDA had conducted a pre-approval inspection at the company's manufacturing facility during October 31 to November 9.


Indian Hotels: The company recorded consolidated profit at Rs 121.6 crore for quarter ended September FY23, against loss of Rs 120.6 crore in same period last year on better top line and operating performance. The low base in year-ago period also supported earnings. Revenue jumped 69.2 percent to Rs 1,232.6 crore compared to year-ago period. EBITDA at Rs 294 crore for the quarter increased by 304 percent and margin expanded by 1,390 bps to 23.9 percent compared to same period last year.

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