Stocks to Watch: Power Finance, Tata Power, Lupin, Raymond, HAL, Bata India
Power Finance Corporation: State-owned Power Finance Corporation (PFC) on Wednesday posted a nearly 27% rise in its consolidated net profit to ₹6,628.17 crore in the July-September quarter compared to a year ago. The consolidated net profit of the company was ₹5,229.33 crore in the quarter ended on September 30, 2022, a BSE filing showed. Total income rose to ₹22,403.69 crore in the quarter from ₹19,344.39 crore in the same period a year ago.
Tata Power: Tata Power on Wednesday reported an 8.79% year-on-year (YoY) growth in its consolidated net profit for the July-September quarter to ₹1,017.41 crore. The company had reported a net profit of ₹935.18 crore in the year-ago period. Revenue for the period under review rose 9% to ₹15,442 crore.
The company attributed its growth in revenue and profits to its “healthy balance sheet, operational excellence, and synergies across all business clusters". Lupin: Pharmaceutical major Lupin reported a net profit of ₹490 crore in the second quarter of fiscal year 2023-24 (Q2FY24), which is 277% higher as compared to ₹130 crore clocked in the year-ago period. Sequentially, the net profit grew by 8% from ₹452 crore posted in the quarter ended June 2023.
The company's total revenue from operations came in at ₹5,039 crore in the second quarter, higher by 21% YoY. Raymond: Textile, apparel, and real estate conglomerate Raymond Ltd on Wednesday reported a marginal rise in its net profit to ₹159.78 crore for the September quarter from ₹158.86 crore in the previous year. While the profit growth was modest, it came amid a delayed festive and wedding season, which typically contributes significantly to the company's sales.
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