Market Commentary - Stock Alert
NTPC, Power Grid, SBI Cards, Marico in focus As on : 31-Jul-23  08:09

NTPC: The company's consolidated net profit rose to Rs 4907.13 crore in Q1 FY24 as against Rs 3977.77 crore posted in Q1 FY23. Total income fell to Rs 43075.09 crore in Q1 FY24 from Rs 43177.14 crore recorded in Q1 FY23.

Power Grid Corporation of India: The company has been declared as successful bidder under Tariff Based Competitive Bidding for two inter-state transmission system projects under build, own operate and transfer (BOOT) basis.

Shree Cement: Shree Cement East Pvt. Ltd, wholly owned subsidiary of the company, has started commercial production at its clinker grinding unit at village Digha & Parbatpur in Purulia district of West Bengal with cement capacity of 3.0 MTPA.

SBI Cards and Payment Services: The company reported 5% fall in net profit to Rs 593 crore despite a 24% increase in total revenue to Rs 4,046 crore in Q1 FY24 as compared with Q1 FY23.

Marico: Marico reported 15% increase in consolidated net profit to Rs 427 crore in Q1 FY24 as compared with Rs 371 crore in Q1 FY23. Revenue from operations fell 3.2% in Q1 FY24 as against Rs 2477 crore posted in corresponding quarter last year.

InterGlobe Aviation: InterGlobe Aviation said that ICRA has upgraded the company's long-term rating to [ICRA] A+? from [ICRA] A? with stable outlook.

United Breweries: United Breweries reported 16% decline in consolidated net profit to Rs 136.21 crore as compared with Rs 162.09 crore in corresponding quarter last year. Net sales fell 6.7% to Rs 2,274.79 crore during the quarter of FY24 as against Rs 2,438.71 crore in Q1 FY23.

Equitas Small Finance Bank (SFB): The company reported 97% jump in net profit to Rs 191.20 crore on a 32.8% increase in total income to Rs 1,425.33 crore in Q1 FY24 as compared with Q1 FY23.

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