Stocks to Watch: Tata Steel, Adani Transmission, P&G, LIC Housing, CIL

Tata Steel: Steel major Tata Steel on Monday reported a surprise consolidated net loss of ₹2,224 crore for the third quarter ending 31 December, 2022 (Q3FY23). This is a decline of 76% from ₹9,572 crore profit posted in the corresponding quarter of last year. The steel production company’s revenue from operations declined 6% to ₹57,083.56 crore for the period under review as compared to ₹60,783 crore in the year-ago period. The steel major’s expenses rose to ₹57,172.02 crore in the quarter under review from ₹48,666.02 crore in the year-ago period.

Adani Transmission: Adani Transmission Ltd on Monday reported a 78% increase in its consolidated net profit for the quarter ended December to Rs. 474.72 crore, aided by a ₹240 core gain on account of a one-time income from a regulatory order. Adani Transmission’s revenue increased by 22% year on year to ₹3,551.7 crore, owing to the operation of new transmission lines and a positive trend in energy demand, the company said. The Gautam Adani-promoted company reported consolidated Ebitda of ₹1,708 crore in Q3FY23, up by 28.9% year-on-year. Ebitda is earnings before interest, taxes, depreciation, and amortization.

Procter & Gamble Hygiene and Health Care: Procter & Gamble Hygiene and Health Care on Monday said its net profit declined 2% to ₹207 crore for the October-December quarter on account of commodity cost inflation. The company, which follows the July-June financial year, had posted a net profit of ₹212 crore in the same period of last fiscal. Revenue from operations rose to ₹1,137 crore in the period under review as against ₹1,092 crore in the year-ago period, Procter & Gamble said in a statement.

LIC Housing Finance: LIC Housing Finance Ltd (LICHFL) on Monday reported a massive decline in its net profit for the December quarter of the fiscal year 2023. Its net profit, hit by higher financing costs, fell 37% year-on-year basis to Rs480.30 crore in the third quarter from Rs767 crore a year ago. The Mumbai-based mortgage lender’s finance costs rose 19.4%, accounting for 80% of total expenses, which increased 28.6% to Rs5,283 crore. LIC Housing Finance said its impairment costs on financial instruments surged 114.5% to Rs763 crore.

Coal India: State-runCoal India Ltd’s annual wage bill is set to reach around ₹46,000 crore with a likely increase of about ₹6,000 crore after the world’s largest coal miner agreed last month to recommend a new wage agreement for its non-executive employees. The company is awaiting the government’s nod for the new wage agreement. Last month, Coal India and four central trade unions—BMS, HMS, AITUC and CITU — inked a memorandum of understanding recommending a 19% minimum guaranteed benefit (MGB) to its non-executive employees.

Hindustan Zinc: The ministry of mines will oppose Hindustan Zinc Ltd’s (HZL) plans to purchase Vedanta Resources global zinc assets for $2.98 billion, a government official told Mint. Confirming the move, the government official said that Vedanta’s decision is against minority shareholder rights. Hindustan Zinc is owned by Vedanta Ltd, which owns 64.9%, and the government of India owns 29.5%. The government’s opposition to the deal would stall the sale and delay the whole process which would be a big negative for Vedanta Ltd.

Muthoot Finance: Largest gold loan NBFC, Muthoot Finance garnered a net profit of ₹902 crore in the third quarter of FY23, compared to a profit of ₹1,029 crore in the same quarter a year ago, registering a growth of 12%. George Jacob Muthoot, Chairman of Muthoot Group said, “We have reported a steady performance during the quarter. Our consolidated loan assets stand at Rs.65,085 crore, and have registered a growth of 7% YoY. Consolidated Profit after Tax has grown 4% and stands at Rs.934 crores for Q3FY23.”

Easy Trip Planners: Easy Trip Planners is a mid-cap company having a market cap of ₹9,013.19 Cr and the company deals in the Consumer Discretionary sector. The company declared its Q3 results today after which its shares ended on a green note. The company reported Profit After Tax (PAT) of INR 41.7 Crores for the ended December 2022 up by 47.8% Q-o-Q from INR 28.2 Crores a quarter ago, whereas its PBT for the quarter reached INR 57.3 Crores from INR 38.8 Crores, up 47.6% Q-o-Q. The adjusted revenue was at INR 196.2 Crores in Q3FY23 representing a growth of 29% YoY and 16% QoQ

SJVN: State-owned power producer SJVN on Monday posted a 22% rise in consolidated net profit at ₹287.42 crore in the December quarter, mainly due to higher revenues. The consolidated net profit of the company was at ₹235.46 crore in the quarter ended on December 31, 2021, according to a BSE filing. The total income of the company rose to ₹711.24 crore in the third quarter of the current fiscal from ₹610.45 crore in the same period a year ago. SJVN’s board has approved an interim dividend of ₹1.15 per equity share for 2022-23. The record date for the same is fixed on February 17.

Infibeam Avenues: Financial technology firm Infibeam Avenues reported a 46% increase in consolidated profit after tax to ₹35 crore in the third quarter that ended December 31, 2022, the company said on Monday. Infibeam had posted a profit after tax of ₹24 crore a year ago, a statement said. The consolidated income from operations of the company grew by 4.4% to ₹414.7 crore during the reported quarter from ₹39.7 crore in the December quarter of FY2021-22.