- Indian Oil Corporation has reported a fall of 78 percent in its net profit for the December quarter to Rs 716 crore against Rs 3,247 crore that the company reported last quarter. Its revenues grew 6 percent to Rs 1.6 lakh crore against Rs 1.5 lakh crore last quarter. The earnings before interest, depreciation, and amortization fell 47 percent to Rs 3,609.5 crore against Rs 6,761.8 crore in the previous quarter. The operating margin fell to 2.3 percent from 4.5 percent in September quarter.
- Dewan Housing Finance Corporation (DHFL) hit a 35-month low of Rs 154 apiece, down 10 per cent during the trade after media outlet Cobrapost on Tuesday alleged the company had diverted loans worth Rs 31,000 crore — a charge the company termed “mischievous”.
- Two-wheeler major Bajaj Auto has registered 15.7 percent growth in its Q3 net profit at Rs 1101.9 crore against profit of Rs 952.44 crore in the same quarter last fiscal. Revenue of the company stood at Rs 7409.4 crore and other income was Rs 470 crore against Rs 208.6 crore, YoY. Operating profit or EBITDA at Rs 1156 crore, while margin slipped 400 bps at 15.6 percent versus 19.6 percent.Company recorded sales of over 91,000 units for Q3FY19 and continues to maintain its dominance with market share of 55.2%.
- RPP Infra’s shares rose over 3 percent on Wednesday morning as investors cheered an order win for the company. It has touched an intraday high of Rs 121.00 and an intraday low of Rs 118.40. The company won three new orders worth Rs 252.9 crore .
- Shares of Coal India were trading 1% higher on Wednesday after the company announced that its board would consider a buyback proposal on February 4, 2019. Accordingly, the company’s board will approve buyback of the fully paid-up equity shares of the company having a face value of Rs 10 each, the company said in a press note to the exchanges.
- Shares of Bajaj Finance were trading 3% higher on Wednesday as the company’s net profit for Q3FY19 beat the consensus estimates by 6%. The company reported its net profit at Rs1,060cr against Rs690cr, up 53.6% yoy. Bajaj Finance Ltd’s Q3FY19 consolidated NII came in at Rs3,094cr, an improvement of 46% yoy. Its GNPA increased 6bps qoq to 1.55% and NNPA increased 9bps qoq to 0.62%, respectively.
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