Stocks to Watch: Muthoot Finance, Bharat Dynamics, Welspun Corp and more
Muthoot Finance | The gold loan financier reported a 17% year-on-year increase in its net profit at ₹1,056.3 crore for the fourth quarter. In the corresponding quarter of the previous fiscal, it recorded a net profit of ₹902.6 crore. Net interest income (NII) climbed 15.2 per cent to ₹2,134.8 crore from ₹1,853.3 crore in the corresponding quarter of FY23.
Dynamic Bharat | The defense public sector undertaking reported an 89 per cent rise in its net profit year-on-year at ₹288.8 crore for the fourth quarter. In the corresponding quarter of FY23, it recorded a net profit of ₹152.8 crore. Its operating revenue grew 7% to ₹854.1 crore from ₹798.3 crore in the year-ago period.
Welspun Corp. | The flagship company of the Welspun Group reported a 19.7 per cent increase in its net profit year-on-year at ₹287.3 crore for the fourth quarter. In the corresponding quarter of FY23, it recorded a net profit of ₹240.1 crore. The company’s revenue grew 9.6 per cent to ₹4,461.2 crore from ₹4,070.2 crore in the year-ago period.
Apollo Hospitals | The healthcare provider reported a 77.6% year-on-year rise in net profit to ₹258.4 crore for the fourth quarter. In the corresponding quarter of the previous fiscal, it recorded a net profit of ₹145.6 crore. The CNBC-TV18 poll predicted a profit of ₹249.8 crore for the quarter under review.
Sunteck Real Estate | The real estate player reported a net profit of ₹101.3 crore for the fourth quarter ended March 31, 2024. In the corresponding quarter, it posted a net loss of ₹27.9 crore. The company’s operating revenue increased by 773.01 per cent to ₹426.9 crore as compared to ₹48.9 crore in the corresponding period of the previous fiscal.
Praj Industries | The industrial biotechnology company reported a 4.3 per cent increase in its net profit year-on-year at ₹91.9 crore for the fourth quarter. In the corresponding quarter, it recorded a net profit of ₹88.1 crore. The company’s turnover increased by 1.5 per cent to ₹1,018.6 crore as against ₹1,003.9 crore in the corresponding period of the previous fiscal.
KIMS | The hospital chain said its subsidiary KIMS Hospital Bengaluru has entered into a lease agreement to set up a 350-bed super-speciality hospital at the Peoples Education Society (PES) campus in Electronic City, Bengaluru. The 25-year lease agreement allows KIMS Hospital, Bengaluru to lease the hospital land and building from PES.
Jio Financial Services | The company announced the launch of its new app “JioFinance”, currently in beta phase. According to a press release, the app is designed to appeal to users of all levels familiar with financial technology, helping them manage their money at their fingertips.
Alkalis from Gujarat | The company reported a net loss of ₹46.2 crore for the fourth quarter ended March 31, 2024. In the corresponding quarter last year, it recorded a net profit of ₹71 crore. The company’s operating revenue declined 12 per cent to ₹1,001.6 crore from ₹1,138.1 crore in the year-ago period.
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