Stocks to watch: Steel Strips, Metro Brands, Yatharth Hosp., Ritco Logistics, Zaggle, Fortis Healthcare, Bayer Crop
Interglobe Aviation: The operator of IndiGo airlines reported a Q4 profit of ₹1894.8 crore, marking its sixth consecutive profitable quarter, driven by robust demand despite rising fuel prices. The company’s revenue grew by 26% to ₹17,825.3 crore, and EBITDAR jumped to ₹4,412.3 crore.
The airline’s load factor improved to 86.3%.ITC: The FMCG giant reported a standalone net profit of ₹5,020.2 crore for Q4, a 1.31% decrease YoY, impacted by flat cigarette volumes and lower FMCG margins. The company’s revenue rose by 1.40% to ₹17,752.87 crore.
ITC also said that the National Company Law Tribunal (NCLT) has directed the company to convene a meeting of shareholders on June 6, 2024, to consider and approve the proposed demerger of its hotel business.ICICI Lombard: The company disclosed that it has received a show cause notice from the GST Officer of the Department of Trade & Taxes, Government of N.C.T. of Delhi, seeking clarifications regarding an alleged GST liability for the period from April 2019 to March 2020.
The show cause notice specifies a demand amounting to ₹149.55 crore, interest of ₹124.35 crore and penalty of ₹14.96 crore.Bikaji Foods International: The company posted a 200% jump in net profit at ₹116.28 crore in Q4, compared to ₹38.67 crore in the year-ago period. Revenue from operations also rose 12.8% to ₹520.82 crore.Steel Strips Wheels: The company reported a 6.34% increase in Q4 net sales to ₹1,068.67 crore and a massive 990.17% jump in net profit to ₹515.56 crore.
However, EBITDA slightly dropped by 0.4% to ₹114.69 crore.Birla Precision Technologies: The company reported a 5.94% drop in Q4 net sales to ₹60.91 crore and a net loss of ₹1.43 crore. EBITDA stands at ₹4.47 crore, down 36.86%.IL&FS Investment
. Read more on livemint.com
