“Buzzing Stocks: Bharti Airtel, Tata Steel, LIC Housing Finance and others in news today”

 

Results on February 7: Bharti Airtel to be in focus ahead of its quarterly earnings scheduled to be declared on February 7. Hero MotoCorp, Ambuja Cements, Adani Ports and Special Economic Zone, Adani Green Energy, NDTV, Aditya Birla Fashion and Retail, Astral, Barbeque-Nation Hospitality, Bharat Dynamics, Computer Age Management Services, Deepak Nitrite, Gujarat Fluorochemicals, GSK Pharma, Kalyan Jewellers India, Motherson Sumi Wiring India, Navin Fluorine International, NHPC, Phoenix Mills, Ramco Cements, Rashtriya Chemicals & Fertilizers, Sobha, Thermax, and Wonderla Holidays are among others to share their quarterly earnings on February 7

Tata Steel: The Tata Group company has posted consolidated loss of Rs 2,502 crore for quarter ended December FY23, against profit of Rs 9,598 crore in year-ago period, impacted by sharp drop in realisations and spreads in Europe. Revenue for the quarter fell 6.1% YoY to Rs 57,083.6 crore with fall in India as well as Europe businesses. On the operating front, EBITDA plunged 74.5% YoY to Rs 4,048 crore and margin dropped 1,906 bps to 7.09% for the quarter. Overall numbers, barring topline, missed analysts’ estimates.

LIC Housing Finance: The housing finance company has recorded profit at Rs 480 crore for quarter ended December FY23, down by 37.4% percent compared to year-ago period, impacted by impairment on financial instruments. Net interest income grew by 10.4% year-on-year to Rs 1,605.9 crore for the quarter.

Muthoot Finance: The gold loan financing company has registered a 12.4% year-on-year decline in standalone profit at Rs 902 crore for three-month period ended December FY23 despite fall in impairment on financial instruments, as net interest income fell nearly 10% to Rs 1,704 crore compared to year-ago period.

JK Paper: The paper manufacturer has recorded a 119% year-on-year increase in consolidated profit at Rs 329.3 crore for three-month period ended December FY23, as revenue grew by 60.5% YoY to Rs 1,643 crore for the quarter. On the operating front, EBITDA surged 125% YoY to Rs 565.5 crore and margin expanded by 985 bps to 34.4% in Q3FY23.

UltraTech Cement: The cement major has announced commissioning of 1.5 mpta brownfield cement grinding unit at Jharsuguda in Odisha, taking the total cement capacity in Odisha to 4.1mtpa. With this commissioning, company’s total cement manufacturing capacity in India now stands at 122.85 mtpa.

Dhampur Sugar Mills: The company has completed expansion of its distillery capacity by 130 KLPD (kilo litre per day) on ‘C’ heavy molasses at Dhampur unit in Uttar Pradesh. With this expansion, the distillery capacity of the company now stands at 350 KLPD

Grasim Industries: The board members of the company has given their approval for appointment of Ananyashree Birla & Aryaman Vikram Birla as additional directors (non-executive directors). Yazdi Piroj Dandiwala is also appointed as an additional director (independent director)

Monte Carlo Fashions: The retail clothing chain has reported consolidated profit at Rs 86.3 crore for three months period ended December FY23, growing 11.4% over a year-ago period, partly hit by higher input cost. Revenue for the quarter at Rs 519.54 crore increased by 12.5% YoY. On the operating front, EBITDA grew by 14.5% YoY to Rs 130.12 crore and margin rose by 43 bps to 25.04% for the quarter

 

Source Network18 Group