Asia-pacific markets were mixed this morning. Key indices Nikkei 225, the S&P 200, and Topix indices rose up to 0.9 per cent.
In the US on Friday, the Dow Jones and the S&P 500 indices gained marginally. NASDAQ Composite, on the contrary, slipped 0.2 per cent.
Q1 results today: Tata Steel, HDFC AMC, Canara Bank, IDBI Bank, TVS Motor, JK Paper, Mahindra Logistics, Sharda Cropchem, Shoppers Stop, SRF, among others.
DLF: The real estate major reported a 12.2 per cent year-on-year growth in consolidated profit at Rs 528 crore despite a weak operating margin. Revenue declined 1.3 per cent on-year to Rs 1,423.2 crore for the quarter with new sales bookings at Rs 2,040 crore.
Cyient DLM: The firm reported 15 per cent YoY fall in its profit to Rs 5.4 crore for Q1FY24. Revenue grew 27.6 per cent year-on-year to Rs 217.15 crore for the quarter with an order backlog of Rs 2,499.7 crore.
AU Small Finance Bank: AU Small Finance Bank on Saturday reported a 44 per cent rise in net profit at Rs 387 crore in the June quarter helped by growth in interest income. The Jaipur-based lender had posted a net profit of Rs 268 crore in the year-ago period. READ
Yes Bank: The lender reported a 10 per cent year-on-year (YoY) growth in net profit at Rs 342.5 crore for the quarter ended June 30, as compared to Rs 311 crore during the same period of last year. Profit growth was muted due to 106.2 per cent rise in provisions to Rs 360 crore. READ
RBL Bank: Private sector lender RBL Bank on Saturday reported a 43 per cent jump in its June quarter net profit at Rs 288 crore, helped by core income growth. The city-based lender reported a 21 per cent jump in the core net interest income at Rs 1,246 crore on the back of a 21 per cent growth in advances and a 0.48 per cent expansion in net interest margin (NIM) to 4.84 per cent. READ
Indraprastha Gas: IGL reported a 4 per cent YoY growth in its net profit to Rs 438.5 crore for the first quarter of the fiscal year 2023-24. Sequentially, the net profit jumped by 32.9 per cent. The company reported YoY revenue growth of 7 per cent to Rs 3,406.98 crore.
Lupin: The company has received tentative approval from the US FDA under the US President’s Emergency Plan for AIDS Relief (PEPFAR) for its new drug application for Dolutegravir Lamivudine and Tenofovir Alafenamide tablets.
Biocon: The US FDA conducted two GMP inspections at Biocon’s insulins manufacturing facility in Malaysia during July 10-20. The US health regulator issued a Form 483 with six observations for drug substance, drug product units and quality control laboratories as well as two observations for the delivery devices unit.
Power Finance Corporation: The company has signed a memorandum of understanding worth Rs 2.37 lakh crore with 20 companies, both public and private, in the clean energy segment. The company inked these MoUs with Adani Group, Greenco, ReNew, Continuum, Avaada, JBM Auto, Megha Engineering & Infrastructure, and Rajasthan Renewable Energy, among others.
Aurobindo Pharma: The US FDA has issued Form 483 with three observations after inspecting the company’s facility in Bachupally Village in Telangana. These observations are procedural in nature, and the company said it will respond within the stipulated timelines.