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Stock_lala, Delhi (2026)

04/11/2023

Bank of Baroda (BoB) net profit rose by 28.4 per cent on a year-on-year (y-o-y) basis to Rs 4,253 crore in the second quarter ended September (Q2 FY24).
Its net interest income (NII) expanded by 6.5 per cent to Rs 10,831 crore in Q2 from Rs 10,174 crore in the same quarter a year ago.

The bank’s net interest margin (NIM) moderated to 3.07 per cent in Q2 FY24, compared with 3.33 per cent in Q2 FY23. Bank revised its guidance for NIMs for FY24 to 3.15 per cent (plus or minus five basis points) from earlier 3.3 per cent. The revision in NIM guidance is due to a change in cost metrics (rise in cost of funds), said Debadatta Chand, managing director and chief executive officer in a media call post Q2 FY24 results.

Non-interest income — comprising fees, commissions, treasury income, and recoveries — rose to Rs 4,171 crore in Q2 FY24 from Rs 1,826 crore a year ago.
The lender’s provisions for non-performing assets (NPAs) and bad debt rose to Rs 2,285 crore in Q2, from Rs 1,654 crore in the year-ago period.

Advances grew 17.3 per cent y-o-y to Rs 10.24 trillion in Q2 FY24. Its retail loans expanded by 22.2 per cent to Rs 1.93 trillion. Its personal loan portfolio, a component of the retail book, expanded by 67.2 per cent y-o-y to Rs 25,618 crore.

Total deposits increased by 14.6 per cent y-o-y to Rs 12.49 trillion. The share of low-cost deposits — current account and savings account (Casa) — was 38.28 per cent at the end of September, down from 39.57 per cent a year ago.
The asset quality profile improved, with gross NPAs declining to 3.32 per cent in September from 5.31 per cent a year ago. It declared one airline exposure (Go First) as a non-performing asset (NPA) and made a 100 per cent provision. It was already a stressed account and turned NPA in Q2.

Net NPAs declined from 1.16 per cent in September 2022 to 0.76 per cent in September 2023. The provision coverage ratio improved to 93.16 per cent in September from 91.73 per cent a year ago.

04/11/2023

Bank of India on November 4 reported a standalone net profit of ₹1,458 crore in the second quarter of fiscal year 2023-24 (Q2FY24), which is higher by 52 percent as against ₹960 crore recorded in the year-ago period.

The public sector lender's net interest income (NII) stood at ₹5,740 crore in Q2FY24, improving by 13 percent as against ₹5,083 crore reported in the same quarter of the previous fiscal.

The non-interest income increased by 19 percent on-year to ₹1,688 crore from ₹1,417 crore in Q2FY23.

The bank's operating profit during the second quarter came in at ₹3,756 crore, higher by 11 percent from ₹3,374 crore in the year-ago period.

The asset quality improved sequentially, as the gross non-performing assets (NPA) declined 8.28 percent quarter-on-quarter from ₹34,582 crore in June 2023 to ₹31,719 crore in September 2023.

The net NPA at the end of Q2FY24 stood at ₹7,978 crore, down by 1.73 percent as compared to ₹8,119 crore in the preceding quarter.

The gross NPA ratio improved by 83 basis points in Q2FY24 to 5.84 percent from 6.67 percent in the first quarter of the current fiscal. The net NPA ratio improved by 11 bps to 1.54 percent in the second quarter, as compared to 1.65 percent in June 2023.

As on September 30, 2023, the bank's total capital adequacy ratio (CRAR) was at 15.63 percent, marginally higher as compared to 15.60 percent at the end of the preceding quarter.

The total number of domestic branches at the end of the second quarter stood at 5,135, which includes 1,855 rural branches, 1456 semi-urban, 830 urban and 992 branches based in metro cities.

04/11/2023

JK Cement Ltd (JKCL) on Saturday reported 62.18 per cent rise in consolidated profit to ₹178.47 crore for the second quarter ended September 2023.

It logged a net profit of ₹110.04 crore in the July-September period a year ago, according to a regulatory filing by JKCL.

Revenue from operation was up 23.23 per cent to ₹2,752.77 crore during the quarter as against ₹2,233.84 crore a year ago.

Total expense in the September quarter was up 21.08 per cent at ₹2,537.89 crore.

Total income was ₹2,782.10 crore, up 23.66 per cent year-on-year.

04/11/2023

India's largest lender State Bank of India (SBI) on Saturday reported an 8 % year-on-year (YoY) growth in its Q2FY24 standalone net profit at Rs 14,330 crore. Its net interest income during the quarter ended September 2023 increased 12.3 % YoY to Rs 39,500 crore. Total income for the quarter grew by 26.4 % on year to Rs 1.12 lakh crore.

The lender’s asset quality improved on year and quarter on quarter. The net non-performing assets ratio as of September end was 0.64 %, as compared to 0.80 % a year ago, and 0.71 % a quarter ago. Gross non-performing assets ratio as of September end was 2.55 %, compared with 3.52 % a year ago, and 2.76 % a quarter ago.

The capital adequacy ratio, i.e. the available capital that a bank has on hand to its risk-weighted assets, as per Basel-IIII norms was 14.28 % as of September end, compared to 13.51 % a year ago, and 14.56 % a quarter ago.

The domestic net interest margin (NIM) for the quarter decreased by 12 bps YoY to 3.43 %. However, margins for the six months ended September increased by 6 bps YoY to 3.45 %.

Credit growth was up 12.39 % YoY, with domestic advances growing by 13.2 % during the quarter. The growth in domestic advances was driven by SME loans at 23 %, followed by retail personal loans, which grew by 16 % YoY.

> Domestic Advances growth driven by SME Advances (22.75 % YoY) followed by Retail Personal Advances which grew by 15.68 % YoY.

> Foreign Office advances cross Rs 5 lakh crore.

> Agri and Corporate loans registered YoY growth of 14.76 % and 6.62 %, respectively.

> Whole Bank Deposits grew at 11.91% YoY out of which CASA Deposit grew by 4.91 % YoY.

> CASA ratio stands at 41.88 % as on 30th September 2023.

04/11/2023

Mining major Vedanta Ltd reported a net loss of Rs 1,783 crore in the quarter ended September, according to an exchange filing on Saturday. The consolidated revenue from operations rose 6.3 per cent year-on-year (YoY) to Rs 38,945 crore.

The loss is against a profit of Rs 1,808 crore in the year-ago period and is primarily due to net tax expense on account of adoption of new tax rate.

In the quarter ended September 30, the company has elected to adopt New Tax Regime from FY 2022-23 onwards due to expected corporate actions and other considerations and the first tax return under the New Tax Regime will be filed for FY 2022-23 on or before the due date of 30 November 2023, the filings showed.

Billionaire Anil Agarwal-controlled Vedanta is a global natural resources and technology conglomerate operating across India, South Africa, Liberia and Namibia. Its operation lies across oil and gas, zinc, lead, silver, aluminium, iron ore, steel, copper, among others.

Earlier, Vedanta Ltd said it plans to separate its commodities businesses into six listed companies "to unlock value and attract big ticket investment into the expansion and growth of each of the businesses".

The six listed companies will be Vedanta Aluminium, Vedanta Oil & Gas, Vedanta Power, Vedanta Steel and Ferrous Materials, Vedanta Base Metals and Vedanta Limited.

04/11/2023

Delhivery, the logistics firm, saw an improvement in its financials during the September quarter of the current fiscal year. The company's net loss decreased by more than half to Rs 103 crore, while its revenue witnessed an 8 percent growth, reaching Rs 1,941.7 crore. This positive performance comes at a time when the e-commerce sector, Delhivery's primary customer base, experienced a slowdown due to higher inflation and a shortage of funds.

Comparatively, in the same quarter of the previous year, Delhivery reported a loss of Rs 254 crore and revenue of Rs 1,796 crore. However, the company's shares closed at Rs 402.25 on November 3, which is 17 percent below the IPO price of Rs 487 per share. Delhivery had gone public in May 2022, a challenging time for tech stocks in the market.

Furthermore, Delhivery has increased its stake in Falcon Autotech Private Limited by an additional 4.75 percent through a related party transaction. This acquisition brings Delhivery's ownership in Falcon Autotech to 39.33 percent, and it involved an investment of approximately Rs 52 crore, as indicated in the filings.

04/11/2023

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03/11/2023

Tyremaker MRF Limited's net profit surged 351 per cent year-on-year to Rs 572 crore on the back company's improved operational performance during Q2 FY24. The net profit was Rs 129.86 crore in the same quarter in FY23.

Its revenue grew 6.5 per cent year on year to Rs 6,088 crore as against Rs 5,719 crore in the same quarter of FY23. On a quarter-on-quarter basis, the revenue for operations was down 3.46 per cent as against Rs 6,440.29 crore in April-June FY24.

The tyre maker’s EBITDA for the quarter surged more than two-fold on year to Rs 1,129.09 crore. As a result, the operating margin expanded by a staggering 1,038 basis points to 18.55 per cent.

The debt-to-equity ratio was 0.06 times as of September end, compared to 0.08 times a year ago, and 0.07 times a quarter ago.

The board of directors announced an interim dividend of Rs3 per equity share (30%) for the financial year ending March 31, 2024, a stock filing by the company said.

The company has fixed November 17 as the record date for the interim dividend. It said the dividend will be paid to the shareholders on or after November 30, 2023.

The record date is the cut-off date established by a company to determine the eligibility of shareholders for the payment of dividends.

In July 2023, the tyremaker had announced a final dividend of Rs 169 for financial year 2023. The total payout for FY24 was Rs 175.

For the year ending March 2023 MRF has declared an equity dividend of 1,500% amounting to Rs 150 per share considering the face value of Rs 10.

In June this year, MRF shares crossed the Rs 1 lakh mark in intraday trading on the BSE and NSE, making it the first Indian stock to trade above the six-figure mark.

03/11/2023

The firm said it would sell its personal care and beauty brand Arvind Beauty Brands Retail to Reliance Beauty & Personal Care, a wholly owned subsidiary of Reliance Retail Ventures Limited (a group company of Reliance Industries) for a purchase consideration of Rs 99.02 crore.

Arvind Fashions shares climbed 11.42% to Rs 362.70 against the previous close of Rs 325.50 on BSE. Market cap of the firm rose to Rs 457.89 crore. Total 0.52 lakh shares changed hands amounting to a turnover of Rs 1.79 crore. Arvind Fashions shares have lost 0.74 per cent since the beginning of this year and fallen 6.38 per cent in one year. The stock hit a 52-week low of Rs 261 on March 14, 2023 and 52 week high of Rs 377.25 on October 17, 2023. Arvind Fashions has a one-year beta of 0.9, indicating low volatility during the period.

The transaction was done at an enterprise value of Rs 216 crore towards sale of entire equity stake and repayment of loans.

03/11/2023

Titan Company Ltd on Friday said its consolidated net profit grew 10 per cent at Rs 916 crore for the September quarter compared with Rs 835 crore in the corresponding quarter last year. Total consoldiated income for the quarter grew 24 per cent YoY to Rs 10,837 crore compared with Rs 8,742 crore in the same quarter last year. Ebit for the quarter rose 16 per cent YoY to Rs 1,392 crore but Ebit margin for the quarter contracted 90 basis points YoU to 12.8 per cent against 13.7 per cent in the year-ago quarter.

In the case of Jewellery segment, Titan said its total Income came in at Rs 8,575 crore recorded, up 19 per cent YoY, with . The India business recording a growth of 21 per cent led by 'Festival of Diamonds' (studded activation) and other campaigns. The segment witnessed a double-digit growth in both buyers and average bill value per buyer during the period, Titan said while suggesting jewellery segment EBIT for the quarter at Rs 1,206 crore. The EBIT margin for the quarter came in at 14.1 per cent, aided by better studded share in the portfolio.

Titan said its watches & wearables segment recorded a total Income of Rs 1,092 crore, up 32 per cent compared. The segment saw Rs 1,000-plus crore of quarterly revenues for the first time.

Titan's eyewear segment clocked a total income of Rs 188 crore, up 13 per cent. Titan Eye+ introduced 'Zefr', a new brand of luxury frames during the quarter. EBIT for the business came in at Rs 28 crore clocking a margin of 14.9 per cent for the quarter.

03/11/2023

Zomato reported a surprise profit for the second-quarter of the ongoing financial year 2023-24 (Q2 FY24). The company posted a net profit of Rs 36 crore for the quarter ended September 30, 2023. It had reported a loss of Rs 251 crore a year ago.

The growth momentum we witnessed in Q1 FY24 continued in Q2 FY24 driven by healthy growth across all our businesses, said Zomato CEO Deepinder Goyal. Food delivery, quick commerce and going-out businesses grew 13 per cent QoQ/ 47 per cent YoY, he mentioned.

On the profitability front, we posted a second consecutive profitable quarter with adjusted EBITDA of Rs 41 crore as compared to Rs 12 crore profit in the previous quarter (Q1 FY24) and a loss of Rs 192 crore last year same quarter (Q2 FY23), Goyal stated.

Blinkit saw 29 per cent sequential GOV (Gross Order Value) growth, Zomato said. The growth was partly due to the low base effect, given the temporary disruption in the business in the previous quarter. On a YoY basis, the GOV growth was 86 per cent, as expected and in-line with the past, the company stated.

In Q2 FY24, Zomato added 28 new Blinkit stores, taking the total count to 411.

Zomato said its adjusted revenue to compound at a 40 per cent-plus growth rate over the next couple of years and that it remains on track to deliver on that outlook.

03/11/2023

IndiGo Airlines' parent company, InterGlobe Aviation Ltd, posted a net profit of Rs 189 crore in Q2FY24 as against a net loss of Rs 1,583.33 crore in the July-September period last fiscal. IndiGo had reported a net profit of Rs 3,090 crore in Q1FY\24.

The airline's revenue from operations surged almost 20 per cent to Rs 14,943 crore, from Rs 12,497 crore in the year-ago period.

IndiGo, which is India's largest domestic airline, said that the revenue surged on the back of a sharp rise in domestic travel during the quarter. It said demand for domestic travel in India has continued to surge for the past three quarters.

For four consecutive quarters, IndiGo has delivered profitable growth demonstrating effective ex*****on of its plans and strategy coupled with strong demand, a company statement said.

The airline reported that its available seat per kilometer, that is ASK, surged to 35.3 billion in Q2 FY24 from 27.7 billion a year ago. The growth was about 28 per cent. But the revenue per ASK dipped to Rs 4.25 from Rs 4.57 a year ago.

As per Directorate General of Civil Aviation data, IndiGo transported 23.3 million passengers during this quarter, marking a 33 per cent increase from the previous year.

The passenger load factor improved to 83.3 per cent in the quarter, from 79.2 per cent a year ago.

The total cash on books as of September end was at Rs 30,666 crore, compared with Rs 19,661 crore on Q2 FY23. The total debt on books was Rs 49,392 crore in the September quarter as compared with Rs 40,945 crore a year ago.

The airline reported that its fuel expenses in the July-September quarter reduced by 6.4 per cent to Rs 5,856 crore. But it went up sequentially 12 per cent due to the rise in crude oil prices in the international market. Aircraft fuel expenses constituted over 38 per cent of the total expenses in the quarter.

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