Larsen & Toubro (L&T), Jammu and Kashmir Bank, Poonawalla Fincorp, Aditya Birla Capital, Apollo Tyres, Stock List in Focus Today
National Stock Exchanges Thursday fell 2.2% Fears of high inflation and the possibility of further interest rate hikes made investors nervous, leading to selling pressure.
The benchmark Sensex plunged 1,158 points to 52,930.31 and the NSE Nifty 359 points to 15,808.00 as the broad sell-off, led by overseas investors, hit sentiment.
Looking ahead, here are the top actions to watch on Friday, May 13, 2022:
Larsen & Toubro (L&T)
Larsen & Toubro on Thursday announced a 10% growth in its consolidated net profit to Rs 3,620.69 crore for the quarter ended March 2022. The company had posted a consolidated net profit of Rs 3,292.81 crore during the period a year ago, Larsen & Toubro (L&T) said.
Consolidated revenue in the quarter under review rose to Rs 53,366.26 crore from Rs 49,116.16 crore a year ago.
Bank of Jammu and Kashmir
Jammu and Kashmir Bank on Thursday announced a net profit of Rs 112.20 crore for the January to March quarter of fiscal 2022 against Rs 315.75 crore in the previous year quarter.
The bank’s total revenue rose to Rs 2,209.40 crore in the fourth quarter from Rs 2,108.01 crore a year ago, according to a regulatory filing.
For the full financial year 2021-22, the bank reported net profit of Rs 501 crore, recording a 16% year-on-year growth.
Poonawalla Fincorp on Thursday reported consolidated net profit of Rs 118.9 crore for the quarter ended March. The non-banking financial company had reported a net loss of Rs 647.70 crore in the same quarter a year ago.
Total operating revenue decreased by 11% to Rs 512.20 crore in the fourth quarter of FY22 from Rs 572.80 crore in the same period of FY21, the company said in a statement. The company’s board has recommended a 20% dividend payment, subject to shareholder approval, he said.
Assets Under Management (AUM) for FY22 increased to Rs 16,579 crore, recording 17% growth from FY21, while disbursements amounted to Rs 9,494 crore, up 158% from FY21. The company said its housing subsidiary Poonawalla Housing Finance Limited (PHFL) crossed the Rs 5,000 crore AUM mark in March 2022.
Capital Aditya Birla
Aditya Birla Capital on Thursday announced a 20% increase in its consolidated profit after tax to Rs 450 crore in the quarter ended March 2022. The company’s consolidated revenue for the fourth quarter of FY22 increased up 18% from a year ago to reach Rs 6,962 crore, Aditya Birla Capital (ABCL) said in a statement.
For the full fiscal year 2021-22, consolidated revenue increased by 16% year-on-year to Rs 23,633 crore. Consolidated profit after tax for the year rose 51% to Rs 1,706 crore, the highest ever recorded by the company, it added.
Apollo Tires said on Thursday that its consolidated net profit fell 61% to Rs 113 crore for the fourth quarter ended March. The company had reported a consolidated net profit of Rs 287 crore in the January to March quarter of the 2020-21 financial year.
Operating revenue rose 11% to Rs 5,578 crore from Rs 5,026 crore in the fourth quarter of FY21, Apollo Tires said in a statement.
For the financial year ended March 31, 2022, the tire giant said its net profit increased by 82% to Rs 639 crore from Rs 350 crore in 2020-21. Operating revenue rose 20% to Rs 20,948 crore from Rs 17,397 crore in FY21, the company said.
– PTI inputs