News Wrap: Asian Markets, Q3 Earnings; Bosch Investment; India's FDI Inflows, Exports & More...
February 9, 2022:
Indian benchmark indices Sensex and Nifty50 closed higher in the green territory.
The 30-Scrip BSE Sensex ended 657.39 points or 1.14% higher at 58,465.97.
The NSE Nifty climbed 197.05 or 1.14% to close at 17,463.80.
Another broad market index INDIA VIX closed 5.74% lower at 18.56.
On the sectoral front, apart from oil & gas and PSU bank, all other sectoral indices ended in the green territory, with consumer durables, media, metal, private bank indices rising more than 1.50%. Nifty auto closed 2.19% higher.
BSE smallcap and Midcap indices surged 0.57% and 1.23% each.
Japan’s Nikkei 225 closed 295.35 points or 1.08% higher at 27,579.87.
Australia’s ASX 200 rose 81.60p points or 1.14% to 7,268.30.
KOSPI, the major stock market index of South Korea, closed 0.81% higher at 2,768.85.
Hong Kong’s Hang Seng index soared 500.50 points or 2.06% to close at 24,829.99.
China’s SZSE Component Index jumped 1.55%, while Shanghai Composite advanced 0.79%.
Top Stocks On Encome.io Dashboard:
Earnings In Focus:
TATA Power Q3 Net Profit Increases 73.5% To 551.8 Cr
Tata Power posted a 73.5% year-on-year (YoY) jump in net profit at Rs 551.8 crore for the quarter ending December 31, 2021, compared with a net profit of Rs 318 crore a year ago.
Total revenue increased 43.6% YoY to Rs 10,913.4 crore from Rs 7,597.9 crore a year ago, on the back of scaling up operations in Odisha DISCOMs, higher project execution by Tata Power Solar Systems Ltd, and strong performance across verticals.
Tata Power Solar Systems Ltd (TPSSL) will establish a 4 GW solar cell and module manufacturing capacity with an investment of Rs 3,400 crore.
The solar engineering, procurement and construction order book exceeded the Rs 10,000 crore mark.
Renewable portfolio expanded 107% YoY in PAT as the solar energy company added 289 MW capacity during the quarter and successfully executed large scale and rooftop solar projects.
The company has developed a network of 1,200+ EV (electric vehicle) charging points across India.
Abbott India Q3 Standalone Net Profit Jumps 12.45% To Rs. 199.20 Cr
Abbott India saw an 11.78% on-year rise in its standalone net sales at Rs 1,224.36 crore for the quarter ending December 2021 compared with Rs. 1,095.37 crore a year ago.
The net profit came in at Rs. 199.20 crore in Q3FY22, up 12.45% YoY from Rs. 177.14 crore in Q3FY21.
EBITDA for the quarter came in at Rs. 287.80 crore as against Rs. 256.83 crore in December 2020 quarter.
Earning increased to Rs. 93.74 per share in December 2021 versus Rs. 83.36 in December 2020.
Nykaa Q3 Consolidated Net Profit Declines More Than 50% YoY
FSN E-Commerce Ventures Nykaa Ltd. posted a 59.5% year-on-year ( YoY) fall in its consolidated net profit at Rs 27.9 crore for the quarter ended 31 December 2021.
The decline in the company's profits was due to higher staff costs and finance costs.
Employee costs rose 56% YoY, while finance costs jumped 71.5%.
The company's consolidated revenue from operations increased 36 percent YoY to Rs 1,098.4 crore in Q3FY22.
Other expenses ate profits as they increased 107% YoY to Rs 323.9 crore as marketing expenses soared during the quarter.
Nykaa’s gross merchandise value (GMV) rose 49% YoY to Rs 2,043.5 crore on the back of 32% growth in the beauty and personal care segment.
The average monthly unique visitors increased in Q3, with 39% YoY growth in the beauty and personal care segment and 120% in the fashion vertical.
The consolidated operating profit for Q3FY22 stood at Rs 69 crore. However, the consolidated operating margins decreased to 6.3 percent from 13.2 percent a year ago.
Power Grid Q3 Net Profit Slumps 2.2% YoY To Rs 3,293 Cr
Power Grid Corporation of India Ltd (PGCIL) posted a consolidated net profit of Rs 3,293 crore for the quarter ended 31 December 2021, down 2.2% from Rs 3,368 crore a year ago.
The state-owned enterprise’s consolidated revenue came in at Rs 10,447 crore, up 3% from Rs 10,142 crore a year ago.
The revenue “transmission business” increased 2.3% YoY to Rs 10,275 crore from Rs 10,043 crore a year ago.
Earnings before interest and tax (EBIT) for the transmission business fell 9% YoY to Rs 5,790 crore.
EBIT for the consultancy business jumped 57% YoY to Rs 58.26 crore. Sequentially, it fell 38.7%.
The revenue from the consultancy business stood at Rs 173 crore in Q3FY22, up 41% YoY from Rs 123 crore a year ago.
The revenue from the telecom business ( operates under brand name--Powertel) fell 10.5% YoY to Rs 185 crore compared with Rs 207 crore.
Powertel had an EBIT of Rs 69 crore in Q3, down 27% YoY and 14% QoQ.
The state-owned company declared a second interim dividend for the current fiscal at Rs. 5.50 a share, which will be paid on March 9, 2022.
Berger Paints Q3 Net Profit Declines 8% To Rs 253 Cr
Berger Paints India Ltd posted an 8% decline in consolidated net profit to Rs 252.97 crore for the quarter ended 31 December 2021, compared with Rs 274.98 crore a year ago.
The company’s revenue from operations in Q3FY22 increased 20.42% to Rs 2,550.77 crore, versus Rs 2,118.19 crore in Q3FY21.
The company’s total expenses were Rs 2,228.56 crore in December 2021, up 26.26% from Rs 1,764.94 crore a year ago.
Bosch Q3 Net Profit Jumps More Than 25% To ₹ 234.96 Cr
Bosch posted a net profit of ₹ 234.96 crore for the December quarter of 2021, up 26.3% year-over-year (YoY) from Rs 184.25 crore a year ago.
The company’s total revenue from operations came in at ₹3,109 crore, up 2.6% YoY from Rs 3,030 crore posted a year ago.
The automotive products segment reported a 2.6% YoY rise at Rs 2,740.61 crore.
The consumer goods segment saw an 8.88% decline in revenue at Rs 221.27 crore .
EBITDA for the Q3FY22 dipped 0.26 percent to Rs 357.4 crore.
EBITDA margin decreased 30 bps to 11.5 percent YoY.
Bosch forecasts that by 2030, every third new vehicle in India will be an electric vehicle (EV).
Bosch Plans To Invest Rs 2,000 Cr In India Over Next Five Years
Bosch Limited said it would invest ₹2,000 crore in India over the span of the next five years as an extension of ₹8,000 crore it has already poured into the country over the past decade.
“We will continue our contribution by investing over ₹1,000 crore for the localisation of advanced automotive technologies in the next five years. We will also invest an additional ₹1,000 crore towards expanding digital platforms,” said Soumitra Bhattacharya, managing director, Bosch Limited and President, Bosch Group in India.
More To Know:
Cash-strapped Videocon Industries and twelve subsidiary companies received an expression of interest (EoI) only from Adani group and Jindal Power Limited, say reports. The Committee of Creditors will discuss the submitted EoI on February 12.
GE Power India said GE Steam Power has planned to trim its stake and separate with the company as its promoter within the next three years.
Sequoia Capital India managing director Amit Jain is quitting the company to pursue entrepreneurship.
Some Stats To Know:
India's exports rose 28.51% To $8.67 billion in the First Week Of February, i.e. February 1-7, 2022, said the Ministry of Commerce And Industry.
It is almost 20% More than the weekly run rate of $7 billion recorded this fiscal.
In January, the country's exports had grown 23.69% to $34.06 billion.
During April-January 2021-22, total exports rose 46.53% to $335.44 Billion against $228.9 billion in April-January 2020-21.
India received a total foreign direct investment (FDI) of USD 54.1 billion during April-November 2021-22, versus USD 81.97 billion in 2020-21.
FDI inflows to India stood at USD 45.15 billion in 2014-15, which soared to USD 81.97 billion in 2020-21.
FDI Inflows In Preceding Years:
-In 2019-20: USD 74.39 billion
-In 2018-19: USD 62 billion
-In 2017-18: USD 60.97 billion
-In 2016-17: USD 60.22 billion
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