APPLE INDIA NET PROFIT INCREASE
MapMyIndia to spin off B2C unit; CEO Rohan Verma to head new venture
MapMyIndia plans to separate its B2C division into a new entity, led by current CEO Rohan Verma. The new venture, in which MapMyIndia will retain a 10% stake, will focus on consumer products under the Mappls brand. This move aims to provide dedicated focus to the consumer business while MapMyIndia continues to concentrate on its core B2B and B2B2C operations.
HDFC Bank¡¯s m-cap surpasses Rs 14 lakh crore for the first time after stock hits record high
HDFC Bank Share Price: HDFC Bank's market capitalization reached Rs 14 lakh crore for the first time on Thursday after its stock hit a fresh record high of Rs 1,836.05 on the BSE. The market cap peaked at Rs 14,00,710 crore before slipping amid profit-taking in the broader markets. At 11:17 am, shares were trading at Rs 1,808.40, down 0.14%.
Apple India net profit up 23% to Rs 2,746 crore in FY24, revenue rises to Rs 67,152 crore
The company posted a 36% increase in total income to Rs 67,121.6 crore in FY24 from Rs 49,321.8 crore in FY23. "The company's total expenses for the fiscal were reported as Rs 63,397 crore," Tofler said.
Waaree Energies shares tumble over 6% after muted Q2 earnings
Waaree Energies, India¡¯s largest solar PV module manufacturer, reported a 15% YoY rise in Q2 net profit to Rs 362 crore. Revenue grew 1% YoY to Rs 3,574 crore. The company, which listed with a 70% premium, continues expanding with a 3 GW US manufacturing facility. For FY24, revenue surged 69% YoY to Rs 11,398 crore, while profit more than doubled.
Ritesh Agarwal to invest Rs 550 crore to increase his shareholding in Oyo
Oyo's CEO, Ritesh Agarwal, is increasing his stake in the company by purchasing an additional Rs 550 crore worth of shares. This move comes as Oyo reports significant profit growth, driven by global expansion and strategic acquisitions, including the recent purchase of G6 Hospitality.
Hero MotoCorp shares in focus after Q2 PAT, revenue see double-digit growth
Hero MotoCorp share price: Hero MotoCorp saw a 14% increase in standalone net profit to Rs 1204 crore in Q2, driven by strong revenue growth and improved margins. The company reported its highest-ever quarterly revenue from parts and accessories.
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India Inc fares well in Sept quarter, minus oil & gas
Indian companies, excluding oil and gas, reported solid double-digit profit growth for the seventh consecutive quarter, although the pace of expansion slowed. While banks and finance companies performed well, overall earnings were subdued due to a higher base effect and rising interest costs.
Foxconn sees net profit rise 14% in Q3 on the back of strong demand for AI servers
The company said that the cumulative revenue of AI servers in the first three quarters of this year grew more than 200% compared to the same period last year, and general server revenue also grew by more than 20%.
Major Apple supplier Foxconn expected to report strong Q3 results on AI boom
Foxconn's shares have surged more than 100% so far in 2024, far outperforming the broader market's 28% gain. Foxconn said last month it was building in Mexico the world's largest manufacturing facility for bundling Nvidia's GB200 superchips, a key component of the US firm's next-generation Blackwell family computing platform.
Q2 results today: Grasim, Hero MotoCorp among 1203 companies to announce earnings on Thursday
Get ready for a busy day in the Indian stock market. Over 1200 companies will reveal their financial performance for the July-September quarter. Keep an eye on major players like Hero MotoCorp and Grasim Industries. Analysts predict growth for both companies, driven by higher sales and improved profitability.
NBCC Q2 Results: Profit jumps 53% to Rs 125.13 crore
State-owned NBCC (India) Ltd on Wednesday reported a 53 per cent increase in its consolidated net profit at Rs 125.13 crore for the quarter ended September on higher income. Its net profit stood at Rs 81.90 crore in the year-ago period.
Nykaa shares rally 6% after strong Q2 profit, revenue growth
Nykaa's shares surged by 5.7% after the company announced a 66% jump in Q2 profits, reaching Rs 13 crore. This growth was fueled by a 24% rise in revenue, reaching Rs 1875 crore, driven by strong performance in its beauty and fashion segments and expanding retail network.
Apple India profit soars, so does dividend payout
Apple India's dividend payout to its Irish holding company more than doubled to ?3,302 crore in FY24, exceeding its net profit for the first time. This comes as iPhone sales surged in the country, boosting Apple India's revenue by 36%. While analysts acknowledge the impressive revenue, they also point to stagnant operating margins and increased inventory as potential challenges.
Hindustan Coca-Cola Beverages FY24 Results: Profit jumps three-fold to Rs 2,808 crore; revenue up 10%
The net profit of Hindustan Coca-Cola Beverages Ltd, the bottling arm of Coca-Cola in India, soared three-fold to Rs 2,808.31 crore in FY24, the company said in its filing to the RoC (Registrar of Companies). Its revenue from operations also went up 10.10 per cent to Rs 14,021.54 crore during the fiscal ended March 2024, according to financial data accessed through the business intelligence platform Tofler.
Bank of India Q2 Results: Profit jumps 63% to Rs 2,374 crore
Bank of India (BoI) on Monday reported a 63 per cent jump in net profit to Rs 2,374 crore for the second quarter ended on September 30, 2024, on higher non-interest income. The public sector bank had a net profit of Rs 1,458 crore in the quarter ended in September 2023.
Jubilant Foodworks Q2 Results: Cons net profit declines 31% YoY to Rs 67 cr, revenue up 43%
Jubilant FoodWorks, owner of Domino's and Dunkin' brands, saw a decline in profits this quarter. Revenue, however, increased significantly. The company added 73 new stores, bringing the total to 3,120. Domino's India achieved record high monthly active users. The company's shares closed slightly lower after the announcement of these results.
Vedanta Q2 Results: Company is back in black with Rs 5,603 crore net profit, aims to cut more debt
Vedanta aims to reduce its debt-to-operating profit ratio to below 1 in two years. The company reported a net profit of ?5,603 crore in Q2FY25, with a 44% YoY increase in operating profit. Net debt fell to ?56,927 crore, and the company is optimistic about a stronger second half of the year.
SBI shares rise as Q2 earnings beat estimates. Should you buy, sell, or hold?
State Bank of India (SBI) exceeded profit forecasts, posting a 28% surge to reach Rs 18,331 crore. This robust performance, driven by a 5% rise in net interest income, prompted several analysts to maintain positive ratings on the stock, with some raising target prices due to healthy loan growth and strong asset quality.
SBI expects to be first Indian company with Rs 1 trillion net profit in medium term: Chairman
State Bank of India (SBI) Chairman, CS Setty, expressed optimism about achieving a Rs 1 trillion operating profit this year, driven by robust credit growth across sectors like petrochemicals, roads, and renewable energy. The bank aims for a 15% growth in its domestic loan book, reaching Rs 39 lakh crore.
SBI's deposit crosses Rs 50 lakh cr, net profit up 28 pc
State Bank of India reported a record Rs 18,331 crore net profit in the second quarter, fueled by loan growth and reduced operating expenses. Chairman CS Setty highlighted efforts to boost core income and operational efficiency. While profit growth may moderate, Setty expressed confidence in maintaining this performance level, citing strong credit and deposit growth.
Shipping Corp Q2 Results: Net profit jumps multi-fold to Rs 291 crore
Disinvestment-bound Shipping Corporation of India Ltd (SCI) on Friday reported a multi-fold rise in its consolidated net profit to Rs 291.44 crore for the second quarter ended September 2024.
Welspun Corp Q2 Results: Profit falls 27% to Rs 283 cr; board approves over Rs 2,000 cr investments
Welspun Corp on Friday reported around 27 per cent fall in consolidated net profit at Rs 282.96 crore for September quarter, mainly on account of fall in income. It had posted Rs 386.57 crore net profit for July-September 2023, the company said in an exchange filing.
Cochin Shipyard shares drop 5% on muted Q2 earnings
Cochin Shipyard Share Price: Cochin Shipyard's Q2 profits rose 4% YoY to Rs 189 crore, driven by a 13% revenue increase. Despite a dip in EBITDA margin, the company announced a Rs 4 interim dividend and plans to raise $50 million via overseas bonds for sustainable projects.
Q2 results today: SBI, Tata Motors among 152 companies to announce earnings on Friday
Over 150 companies, including major players like SBI, LIC, Tata Motors, and Vedanta, are set to release their July-September 2024 quarter results today. SBI is predicted to show single-digit growth in net interest income, while Tata Motors is expected to see a 30% rise in net profit despite muted revenue growth.
Mahindra & Mahindra Q2 Results: Standalone net profit up 13% to Rs 3,841 crore on strong SUV sales
Mahindra & Mahindra Ltd. exceeded profit forecasts, reporting a 13% rise in standalone net profit, fueled by robust sales of SUVs, pickups, and commercial vehicles. The company also revised its full-year tractor market guidance upward, citing positive agricultural trends.
Salesforce India FY24 profit jumps 40% to Rs 888 crore
Salesforce India reported a 40% surge in net profit to Rs 888.3 crore in FY24, fueled by a 36% revenue growth that crossed USD 1 billion.
Google India PAT rises 6% to Rs 1,425 crore in FY24
Google India posted a total income of Rs 7,097.5 crore during the reported fiscal year, including Rs 5,921.1 crore from continuing operations, and Rs 1,176.4 crore from discontinued operations.
Cognizant Q3 profit up 2.8% sequentially; full year guidance revised up
The Nasdaq-listed technology major saw its third quarter revenue growing by 4% sequentially at $5 billion. On a year-on-year (YoY) basis, the revenue was up 3%.
L&T shares rally 5% after Q2 PAT beats Street estimates. Should you buy, sell or hold?
Shares of Larsen & Toubro (L&T) rose 4.8% after reporting a 5% increase in net profit for the quarter ended September 2024 to Rs 3,395 crore. Consolidated revenue grew 21% year-on-year to Rs 61,555 crore. International revenue was Rs 32,057 crore. Analysts have mixed ratings on L&T, ranging from 'Neutral' to 'Outperform'.
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