Market Commentary - Stock Alert
RIL, ICICI Bank, Kotak Bank, Vedanta, DLF to react to their Q1 earnings As on : 24-Jul-23  08:40

RIL: The Mukesh Ambani-led diversified company reported 5.9% decrease in consolidated net profit to Rs 18,258 crore in Q1 FY24 as against Rs 19,405 crore posted in Q1 FY23. The company said that its net profit declined due to higher finance cost and increased depreciation. Gross revenue declined 4.7% year on year (YoY) to Rs 231,132 crore in the quarter ended 30 June 2023.

ICICI Bank: The private lender's standalone net profit surged 39.73% to Rs 9,648.20 crore on 36.79% jump in total income to Rs 38,762.86 crore in Q1 FY24 over Q1 FY23. Net interest income (NII) increased by 38% year on year (YoY) to Rs 18,227 crore in Q1 FY24 from Rs 13,210 crore posted in Q1 FY23. Net interest margin improved to 4.78% in Q1 FY24 as compared to 4.01% recorded in the corresponding quarter previous year.

Kotak Mahindra Bank: The private lender's standalone net profit surged 66.69% to Rs 3,452.30 crore on 55.93% jump in total income to Rs 13,183.26 crore in Q1 FY24 over Q1 FY23. Net Interest Income (NII) for Q1 FY24 increased to Rs 6,234 crore from Rs 4,697 crore in Q1 FY23, up 33% YoY. Net interest margin (NIM) improved to 5.57% in Q1 FY24 as compared to 4.92% recorded in the corresponding quarter previous year.

Vedanta: On consolidated basis, Vedanta's net profit tumbled 40.8% to Rs 3,308 crore in Q1 FY24 on 12.8% decline in revenue from operations to Rs 33,342 crore in Q1 FY24 over Q1 FY23. The mining company said that the decline in revenue was on account of steep reduction in output commodity prices, partially offset by favourable movement in exchange rate.

RBL Bank: RBL Bank reported a 43% jump in standalone net profit to Rs 288.11 crore on 24.5% increase in total income to Rs 3,365.26 crore in Q1 FY24 over Q1 FY23.

Yes Bank: The private lender's standalone net profit rose 10.27% to Rs 342.52 crore on 29.07% jump in total income to Rs 7,584.34 crore in Q1 FY24 over Q1 FY23.

DLF: The realty major's consolidated net profit grew 12.23% to Rs 527 crore in Q1 FY24 as against Rs 469.57 crore recorded in Q1 FY23. Revenue from operations declined 1.28% year on year to Rs 1,423.23 crore in the quarter ended 30 June 2023.

One 97 Communications (Paytm): Paytm reported a consolidated net loss of Rs 357 crore in Q1 FY24 as against a net loss of Rs 644.40 crore posted in Q1 FY23. Revenue from operations jumped 39.4% to Rs 2,341.60 crore in the quarter ended 30 June 2023 from Rs 1,679.60 crore recorded in the same period last year.

Power Finance Corporation: Power Finance Corporation has executed various Memoranda of Understanding of more than Rs 2.37 lakh crore with 20 companies both in public and private sector. These MoU were signed with Solar, Wind Power, Green Hydrogen, Battery Storage, Electric Vehicle companies as well as the manufacturers of green energy equipment among others in the clean energy space.

Lupin: Global pharma major Lupin announced that it has received tentative approval from the United States Food and Drug Administration (U.S. FDA) under the U.S. President's Emergency Plan for AIDS Relief (PEPFAR) for its New Drug Application for Dolutegravir Lamivudine and Tenofovir Alafenamide Tablets.

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