Stocks to Watch: Tata Consumer, HUL, ICICI Pru., Tata Elxsi, Lupin, Dr Reddy's
Tata Consumer Products: On Tuesday, April 23, the company reported a 22.5% decrease in net profit, at ₹267.7 crore in Q4FY24, down from ₹345.6 crore recorded in Q4FY23. However, the company's operational revenue for the quarter increased by 8.5%, to ₹3,927 crore in A4FY24 from ₹3,619 crore in Q4FY23. From an operational standpoint, the company's EBITDA for the March quarter was ₹629.6 crore, marking a 23% growth from the ₹511.7 crore reported in the same period last year.
Its EBIT margin increased by 160 basis points to 16%, compared to 14% in the year-ago period. The group's net profit before exceptional items stood at ₹427 crore, a 46% increase, driven by robust operational performance and one-time tax credits during the quarter. In addition, the company's board proposed a final dividend of 775% for FY24, translating to ₹7.75 per equity share of ₹1 each, subject to shareholders' approval.
Dr Reddy's Laboratories: The company announced on Tuesday that it is proactively withdrawing six lots of a medication designed to lower blood phenylalanine (Phe) levels from the US market due to subpotency. The pharmaceutical company is recalling specific lots of Sapropterin Dihydrochloride Powder for Oral Solution 100 mg at the consumer level because of powder discoloration in some packets, which has resulted in reduced potency. The problem was identified during an ACCelerated stability test and was also reported by customers.
The diminished effectiveness of the product could lead to increased Phe levels in patients. Persistently high Phe levels in infants and children can result in permanent neurocognitive deficits, including irreversible intellectual disability, developmental delay, and seizures. Hindustan Unilever: HUL is
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