Highlights Of The Day: HDFC Life, Bandhan Bank, PVR, IDBI Bank Post Q3 Earnings; Zomato, Paytm Shares Hit All Time Low & More…
January 21, 2022:
The Sensex ended 427.4 points or 0.7 percent down at 59,037.2.
The Nifty closed at 17,617.2, down 139.9 points or 0.8 percent.
Highlights Of The Day:
HDFC Life Q3 Net Profit Increases 3.3% YoY To Rs 273.7 Cr
HDFC Life Insurance posted a 3.3 percent year-on-year growth in profit after tax to Rs 273.7 crore for the quarter ending December 31, 2021.
The company’s net premium income jumped 27.8 percent YoY to Rs 12,124 crore in Q3FY22 from 9,487 crore in Q3FY21.
The company’s value of the new business in the December quarter soared nearly 22 percent YoY to Rs 694 crore, beating the Street’s estimate.
The life insurer's assets under management in the fiscal Q3 stood at Rs 1.95 lakh crore, up 18 percent from a year-ago period.
Income from investments net of amortization sank 82 percent on-year to Rs 1,981.8 crore in the Q3FY22.
Bandhan Bank Q3 Net profit Jumps 36% To Rs 859 cr
Private sector lender Bandhan Bank reported a net profit of Rs 859 crore for the fiscal third quarter, ending 31 December 2021, up 36% year-on-year from Rs 633 crore in the year-ago period.
Net Interest Income (NII) in the quarter-ended increased by 2.6% to Rs 2,124.7 crore versus Rs 2,071.7 crore a year ago.
Gross NPAs as on December 31, 2021 stood at Rs 9,441.6 crore (10.81%) versus Rs 8,763.6 crore (10.82%) in the quarter ended September 30, 2021. .
Net NPAs as on December 31, 2021 came at Rs 2,413.1 crore (3.01%) versus Rs 2,265.8 crore (3.04%) as on September 30, 2021.
Provisions other than tax and contingencies decreased to Rs 805.71 crore versus Rs 1,077.83 crore earlier.
Net Interest Margin also declined to 7.8% in the third quarter from 8.3% a year ago.
PVR Consolidated Loss Reduces To Rs 10.2 Cr In Q3
Multiplex chain operator PVR Ltd narrowed down its consolidated loss after tax to Rs 10.2 crore in the Q3FY22 from a loss after tax of Rs 49.21 crore Q3FY21.
Consolidated total income in the fiscal third quarter stood at Rs 709.71 crore versus Rs 320.13 crore in the third quarter of fiscal 2021.
Earnings before interest, taxes, depreciation and amortization (EBITDA) for the October-December period stood at Rs 66.2 crore, while a year ago, EBITDA was a negative of Rs 108.8 crore.
"The impact of COVID-19 on cinema operations was the least in the Q3 FY22 as compared to the preceding quarters since the time the pandemic has hit the economy,” PVR said.
IDBI Bank Q3 Net Profit Rises 53% To Rs 578 Cr
IDBI Bank Ltd saw a 53 percent jump in standalone net profit for the Oct-Dec quarter of 2021.
Bank’s net profit stood at Rs 578 crore in Q3FY22, as against a net profit of Rs 378 crore in Q3FY21.
Its NII, which is the interest earned less the interest expended, jumped more than 30 per cent year-on-year (YoY) to Rs 2,383 crore and 29 percent quarter-on-quarter (QoQ).
However, non-interest income fell 20 percent YoY to Rs 1,148 crore but sequentially, it grew 17 percent.
Net interest margin, the interest income earned minus the interest paid by a bank, improved by 101 basis points (bps) to 3.88 percent at the end of the third quarter.
Gross non-performing assets (NPAs) stood at 20.56 percent at the end of Q3FY22, versus 23.52 per cent in Q3FY21 and 21.85 per cent in Q2FY22.
Net NPAs came in at 1.7 percent.
Hindustan Zinc Q3 Profit Increases 23% To Rs 2,701 Cr
Vedanta Group firm Hindustan Zinc Ltd posted a 22.77 per cent jump in the consolidated profit at Rs 2,701 crore for the third quarter of fiscal’22, as against a consolidated profit of Rs 2,200 crore in Q3FY21.
The company's revenue from operations increased 32.43 percent to Rs 7,990 crore in the said quarter versus Rs 6,033 crore posted a year ago.
EBITDA (earnings before interest, taxes, depreciation, and amortization) of the integrated mining and resources producer of zinc, lead, silver and cadmium rose 33.68 per cent to Rs 4,370 crore versus Rs 3,269 crore posted last year.
Adani Wilmar IPO Details Out!
The three-day initial-share sale of Adani Group's FMCG arm - Adani Wilmar Ltd (AWL) will open on 27 January 2022 through 30 January 30 2022.
The bidding for anchor investors will open on January 25.
The company has fixed a price band of ₹218-230 apiece for its ₹3,600-crore initial public offering (IPO).
The company had earlier planned a Rs 4,500 crore worth IPO.
The proceeds from the issue worth Rs 1,900 crore will be used in capital expenditure, Rs 1,058.90 crore will help pay back the debt, while Rs 450 crore will aid in funding strategic acquisition and investment.
Kotak Mahindra Capital, JP Morgan India, BofA Securities India, Credit Suisse Securities India, ICICI Securities, HDFC Bank and BNP Paribas are the lead managers to the public issue.
Adani Wilmar Ltd is a 50:50 joint venture company between Adani Group and Singapore's Wilmar group.
Other Big News:
Shares of Zomato tanked to a 52-week-low at Rs 112.55, down 9.23 per cent on the NSE in Friday’s intra-day trade.
Paytm stock hit a lifetime low of Rs 952.30 on NSE in Friday’s intraday session. It has plunged 56 percent from its IPO price of Rs 2,150. The market cap of Paytm slid to a low of Rs 62,000 crore.
The Employees Provident Fund Organization (EPFO) added 13.95 lakh subscribers on a net basis in November 2021, an increase of nearly 38 per cent from the year-ago period.
CCI has approved the "acquisition of 100% of the equity share capital of GlaxoSmithKline Asia Private by GlaxoSmithKline Consumer Healthcare Overseas and GlaxoSmithKline Consumer Healthcare UK Trading", the regulator informed on Twitter.
India has set up a target of USD 500 billion exports for 2022-23 fiscal, said Additional DGFT Amiya Chandra.
India Ratings has pegged 7.6% GDP Growth in Fiscal’23.