Stocks to Watch – Coal India, LIC, ONGC, SAIL, Biocon, Sun TV network

Coal India Ltd-  The country’s largest Coal Supplier reproted reported a 9.85% increase in revenue and a 12.51% increase in profit year-over-year during the September quarter. Thr results were declared post market hours on Friday. ThE positive performance indicates the company’s ability to generate higher revenue and profitability compared to the same period last year.

The operating income of Coal India witnessed a significant decline of 25.78% quarter-over-quarter. However, on a yearly basis, the operating income increased by 12.18%. This indicates that the company has been able to improve its operational efficiency and control costs over the past year.

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Life Insurance Corporation of India Ltd (LIC)-  LIC declared their Q2 FY24 results on 10 November 2023, post market hours. The topline decreased by 9.2% & the profit decreased by 49.35% YoY. As compared to the previous quarter, the revenue grew by 6.85% and the profit decreased by 16.65%.

The Selling, general & administrative expenses rose by 55.58% q-o-q & decreased by 41.47% Y-o-Y. The operating income was down by 12.36% q-o-q & decreased by 50.1% Y-o-Y.

The EPS is ₹12.77 for Q2 FY24, which decreased by 42.51% Y-o-Y

Oil and Natural Gas Corporation Ltd (ONGC)- ONGC  released its July-September quarter results for fiscal 2023-24 (Q2FY24) on Friday, November 10, post market hours. ONGC reported a surge of 142 per cent in consolidated net profit at ₹16,553 crore, compared to ₹6830 crore in the corresponding period last year.

The state-run petroleum giant’s revenue from operations during the second quarter of current fiscal stood at ₹146,873.73 crore, registering a decline of 13 per cent, compared to ₹ ₹68,656.12 crore in the year-ago period.

Steel Authority Of India Ltd (SAIL)- SAIL declared its Q2 FY24 results on 10 November, 2023 post market hours. The topline increased by 13.2% & the profit came at ₹1305.59cr. It is noteworthy that Steel Authority Of India had declared a loss of R329.36cr in the previous fiscal year same period. As compared to the previous quarter, the revenue grew by 21.98%.

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The Selling, general & administrative expenses rose by 9.83% q-o-q & increased by 10.31% Y-o-Y.

The operating income was up by 471.09% q-o-q & increased by 576% Y-o-Y.

Eicher Motors- The Royal Enfield motorcycle maker reported a 54.7% rise in its net profit to ₹1,016 crore in the September quarter of financial year 2023-24, on Friday post market hours Its larger-than-expected rise in second-quarter profit was led by strong sales amid burgeoning demand for premium motorcycles.

The automaker had reported a net profit after tax of ₹657 crore in the July-September quarter of last fiscal. The total revenue from operations rose to ₹4,115 crore for the September quarter as against ₹3,519 crore in the year-ago period, Eicher Motors said in a regulatory filing. It was the company’s highest-ever performance in terms of quarterly revenues, profits, and sales, it said.

Biocon Ltd – Biocon, a leading biopharmaceutical company, announced their Q2 FY24 results on November 10, 2023, post market hours. The company reported a significant increase in both revenue and profit compared to the previous year. The topline increased by 49.26% year-on-year (YoY), while the profit saw a remarkable growth of 167.8% YoY.

In comparison to the previous quarter, Biocon witnessed a moderate growth in revenue, with a 1.16% increase, and a substantial increase in profit, with a growth of 23.87%.

The selling, general, and administrative expenses of Biocon saw a rise of 7.44% quarter-on-quarter (q-o-q) and a 15.2% increase YoY. This indicates the company’s continued investment in its operations and expansion.

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Sun TV Network Ltd – Sun TV declared their Q2 FY24 results on 10 November, 2023. Teh results were declared post market hours. The topline increased by 26.98% & the profit increased by 14.06% YoY. As compared to the previous quarter the revenue declined by 22.29% and the profit decreased by 21.51%.

The Selling, general & administrative expenses rose by 4.7% q-o-q & increased by 6.52% Y-o-Y.

The operating income was down by 28.09% q-o-q & increased by 11.29% Y-o-Y.

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Updated: 12 Nov 2023, 03:37 PM IST