Stocks to watch: Vedanta, PNB, Dr Reddy’s, TVS Motors, M&M Financial

VedantaVedanta on Thursday reported a marginal 4.6% rise in its consolidated net profit 4,421 crore in the April-June quarter on account of higher selling volume, commodity prices and strategic hedging gains. Miscellaneous Natural Resources Company posted a consolidated net profit of 4,224 crore in the year-ago period, Vedanta Ltd said in a BSE filing.

Punjab National BankState-owned Punjab National Bank on Thursday reported 70% fall in standalone net profit 308.44 crore in the June quarter, mainly on account of higher provisioning for bad loans and declining interest income. The bank posted a net profit of 1,023.46 crore in the year-ago period. Total income fell in the first quarter of the current fiscal 21,294 crores. In the period a year ago, it was at . was 22,515 crore, as per a regulatory filing.

Dr Reddy’s Laboratories: Dr Reddy’s Laboratories reports Consolidated Net Profit for Thursday 1,187.60 crore for the first quarter of the current financial year as compared to 570.80 crore in the corresponding period of last year, registering a growth of 108 per cent year-on-year. Company’s revenue from operations up 6% YoY 5,215.40 crore for the quarter ended June 30 as compared to 4,919.40 crore was registered in the corresponding quarter of last year.

Mahindra & Mahindra FinancialsMahindra & Mahindra Financial Services reported a consolidated net profit for Thursday Rs 240 crore for the June quarter was aided by a decline in expenses and higher income from business operations. The company had posted a net loss of 1,573.40 crore in April-June 2021-22. Mahindra & Mahindra Financial Services (Mahindra Finance) said the loss in the year-ago period was due to the impact of the second wave of Covid-19.

TVS Motor Company: TVS Motor Company reported operating revenue of Rs 6,009 crore for the quarter ended June 2022 3,934 crore in the quarter ended June 2021. Company Reported EBITDA 599 crore for the first quarter of 2022-23 against EBITDA 274 crore in the first quarter of 2021-22. The company’s EBITDA margin for the quarter stands at 10% as against the EBITDA margin of 7% in the first quarter of 2021-22.

Indian Oil CorporationState-owned Indian Oil Corporation (IOC) will invest around 564 crores in various projects in West Bengal in this financial year. West Bengal Sales Office (WBSO) executive director and state head Pritish Bharat told reporters here that the projects are a catalytic dewaxing plant at Haldia, expansion of the Paradip-Haldia-Durgapur pipeline and a crude oil pipeline at Haldia. Among them, Haldia projects will attract 240 crores.

Shriram Transport FinanceNon-bank financing company Shriram Transport Finance Company (STFC) on Thursday reported a huge jump in its single profit after tax. 965.27 crore in the June quarter on low provisioning. The company had reported profit after tax (PAT) 169.94 crore on a standalone basis in the year-ago quarter.

Equitas Small Finance BankEquitas Small Finance Bank reports manifold growth in net profit on Thursday 97 crore in the June quarter on higher interest income. It posted a net profit of 12 crore in the year-ago period. However, gains were down 18.8% sequentially 119.51 crore in the quarter ended March 2022.

IIFL FinanceIIFL Finance on Thursday said it has increased its stake in subsidiary IIFL Samasta Finance by acquiring over 12.4 crore shares from IIFL Home Finance, a wholly owned arm of IIFL Home Finance. 259 crores. With this additional holding representing 25% of the equity share capital, the stake of IIFL Finance has increased to 99.41% from 74.41% in IIFL aggregate earlier.

Orient CementCK Birla Group firm Orient Cement Ltd on Thursday reported 58.17% fall in net profit 37.41 crore in the quarter ended June. It posted a net profit of 89.45 crore in the April-June quarter a year ago, Orient Cement said in a BSE filing. Its revenue from operations was up 3.33%. was till 713.93 crore during the quarter under review.

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