Market Commentary - Stock Alert
ONGC, NMDC, JSPL, Sun TV Network in focus As on : 14-Aug-23  08:46

ONGC : Oil and Natural Gas Corporation (ONGC) reported 18.4% rise in consolidated net profit to Rs 14,134 crore in Q1 FY24 from Rs 11,937 crore in Q1 FY23. Net sales declined by 10.4% to Rs 1,63,823.59 crore in the first quarter as compared with the same period last year.

NMDC: NMDC reported 14.3% jump in consolidated net profit to Rs 1,652.22 crore on 13.2% increase in revenue from operations to Rs 5,394.66 crore in Q1 FY24 over Q1 FY23.

Glenmark Pharmaceuticals: Glenmark Pharmaceuticals reported 18% decline in net profit to Rs 173.1 crore in Q1 FY24 as compared with Rs 211.1 crore in Q1 FY23. Total revenue from operations jumped 22.48% to Rs 3,401.6 crore during the quarter as compared with Rs 2,777.3 crore posted in same quarter last year.

Power Finance Corporation: Power Finance Corporation said that its board has approved issue of bonus shares to the shareholders of the company in the ratio of 1:4, i.e. one bonus equity share for every four existing equity shares held by its shareholders as on record date. The company recorded 31% increase in consolidated profit after tax to Rs 5,982 crore in Q1 FY24 from Rs 4,580 crore in Q1 FY23. The corporation's total income rose by 13% YoY to Rs 21,001 crore during the period under review.

Jindal Steel & Power (JSPL): JSPL reported 78.9% decline in standalone net profit to Rs 1,399.52 crore in Q1 FY24 as compared with Rs 6,623.08 crore in Q1 FY23. Total revenue from operations fell 4.2% to Rs 12,310.57 crore in Q1 FY24 as compared with Rs 12,848.52 crore in Q1 FY23.

Sun TV Network: Sun TV Network's net profit increased by 18.53% to Rs 582.80 crore on a 10.38% rise in revenue to Rs 1,317.78 crore in Q1 FY24 as compared with Q1 FY23.

Amara Raja Batteries: The company's consolidated net profit jumped 45.55% to Rs 192.14 crore in Q1 FY24 as compared with Rs 132.01 crore in Q1 FY23. Revenue from operations increased by 6.68% to Rs 2,795.51 crore in Q1 FY24 as compared with Rs 2,620.53 crore posted in same quarter last year.

NLC India: NLC India said that it has emerged as successful bidder for North Dhadu (Western Part) coal mine in Latehar District of Jharkhand under commercial coal block e-auction on 01 August 2023 by Ministry of Coal.

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