Stocks to watch: Airtel, HCL, Delhivery, IGL, TechM, Tata Chemicals

Bharti AirtelTelecom operator Bharti Airtel on Monday reported a more than five-fold jump in its consolidated profit 1,607 crore for the quarter ended June 2022, mainly on account of hike in tariff. The company posted a profit of 283.5 crore in the same period a year ago. Bharti Airtel’s consolidated revenue from operations up nearly 22% 32,805 crore during the reported quarter 26,854 crore earlier.

HCLIT company HCL Infosystems posted a consolidated loss on Tuesday 9.97 crore for the quarter ended June 30, 2022. The company had recorded a profit of 40.79 crore in the same period a year ago. Consolidated revenue from operations at HCL Infosystems down 67% 9.12 crore during the reported quarter 27.61 crore in the year-ago quarter.

delhiveryDelhivery Limited’s consolidated net loss widens to 399 crore during the first quarter ended June 2022 as compared to a loss of Rs. 129.6 crore in the same quarter last year. Company’s revenue up more than 32% to 1,745.7 crore 1,317.7 crore year-on-year (YoY). Adjusted EBITDA loss to the company 217 crore vs Adjusted EBITDA loss in QIFY23 58 crores (proforma) in QIFY22.

IGLIndraprastha Gas Ltd, a retailer of CNG and piped LPG in the national capital, on Tuesday reported a 72% rise in net profit for the June quarter on account of increase in sales volume. net profit of 420.86 crore in April-June as compared to 244.29 crore in the corresponding quarter of the previous financial year, the company said in a statement.

Tata ChemicalsTata Chemicals on Tuesday reported a growth of 86.25% in consolidated net profit 637 crore during the quarter ended June. net profit of the company 342 crore in the corresponding quarter of the previous financial year, Tata Chemicals said in a regulatory filing. Revenue from operations of the company grew by 34.15% during the quarter under review 3,995 crore as compared to 2,978 crore in the same period of the previous financial year.

Tech MahindraTech Mahindra on Monday said it has acquired almost entire stake in its two South African joint ventures Tech Mahindra South (PTI) Ltd and Tech Mahindra Holdco Pvt Ltd. 30 crores. According to the BSE filing, the company will acquire 49% stake in Tech Mahindra South (Pty) and 4% in Mahindra Holdco Pty Ltd from its partner Falcorp Technologies which is exiting the joint venture.

JK TireIndian tire major JK Tire & Industries Ltd (JK Tyre) on Monday said its revenue grew 39% year-on-year to 39% year-on-year. 3,650 crore in the first quarter of the current financial year. The EBIDTA of the company for the first quarter of 2022-23 was 291 crores. The profit before tax of the company was 57 crores for the quarter under review.

HFCLHome telecom equipment maker HFCL Ltd on Monday said it has entered into an agreement with Qualcomm Technologies for the design and development of 5G millimeter wave fixed wireless access products for broadband services. In the recently concluded spectrum auction, all the four bidders – Reliance Jio, Bharti Airtel, Vodafone Idea and Adani Data Networks – have bought spectrum in the millimeter wave band, which is the 26 GHz frequency range. mmWave has the power to transmit signal at high speed but it covers very short distance.

power gridState-owned Power Grid Corporation of India (PGCIL) on Monday said its consolidated net profit fell over 36 per cent. 3,801.19 crore in the April-June quarter of FY23. The consolidated net profit of the company was 5,998.28 crore in the quarter ended June 30, 2021, said the BSE filing. The total income of the company increased 11,168.54 crore in the quarter under review from 10,391.61 crore in the same period a year ago.

torrent powerTorrent Power on Monday said it had received shareholders’ approval 2,000 crore through issuance of non-convertible debentures (NCDs). The fund raising proposal was listed on the agenda of the company’s annual general meeting held on Monday.

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