Stocks to Watch: Dr Reddy's, PB Fintech, L&T, Jaiprakash Associates, JSW Energy, IRB Infra
Dr Reddy’s Laboratories: The pharmaceutical company reported a net profit of ₹1,307 crore for Q4FY24, a 36% year-on-year increase, primarily driven by strong performance in the US market. The company's revenue increased to ₹7,083 crore during the quarter, a 12% year-on-year growth. For the full year FY24, DRL reported a net profit of ₹5,568.4 crore, a 36% increase, and total revenues of ₹27,920 crore, up 14% on year.
The company expects FY25 to allow a double-digit growth with a 25% Ebitda. The company's global generics segment saw a 13% revenue increase to ₹6,120 crore, mainly due to higher base business volumes and new product launches. PB Fintech: The parent company of Policybazaar reported a net profit of ₹60.19 crore for Q4FY24, a significant improvement from a loss of ₹9.34 crore in the same period last year.
The company's consolidated revenue for the quarter was ₹1,089.57 crore, a 25.36% increase from the previous year. The total insurance premium for the quarter was ₹5,127 crore, contributing to an Annual Recurring Revenue (ARR) of ₹20,000 crore in insurance premiums. This growth was mainly due to the expansion in the new health and life insurance segments.
The company's cash position improved by ₹259 crore year-on-year, reaching ₹5,263 crore, thanks to a 39% year-on-year growth in core online revenue, which amounted to ₹2,375 crore. Adjusted EBITDA rose to ₹324 crore from ₹107 crore, improving the margin from 6% to 14%. Larsen & Toubro: L&T is anticipated to deliver strong Q4FY24 results, driven by enhanced construction activity, robust demand, and a solid order book.
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