Stocks to Watch: NMDC, Muthoot Finance, Sun TV Network, Glenmark Pharma, REC, and others.
Stocks to Watch : Monitoring market movers for February 15? Watch NMDC, Muthoot Finance, Sun TV Network, Glenmark Pharma, REC, Gland Pharma, PTC India, and additional stocks in today’s trading session.
Muthoot Finance
Muthoot Finance, a non-bank lender with a focus on gold loans, recorded a 13.9% YoY surge in net profit, reaching ₹1,027.3 crore for the third quarter ending December 31, 2023. In the same quarter last year, the company had reported a net profit of ₹901.7 crore. The net interest income (NII) also experienced an 11.8% increase, totaling ₹1,905.7 crore compared to ₹1,704 crore in the corresponding quarter of FY23.
NMDC
The government-owned firm recorded a 62.6% YoY surge in its third-quarter net earnings, reaching ₹1,469.7 crore by December 31, 2023. In the same quarter of the previous year, NMDC declared a net profit of ₹903.9 crore. The company’s operational revenue rose by 45.4%, reaching ₹5,409.9 crore compared to ₹3,720 crore in the corresponding period of the previous fiscal year.
Sun TV Networks
The prominent broadcasting company disclosed a 6.8% YoY growth in its net profit, amounting to ₹453.9 crore for the third quarter concluding on December 31, 2023. In the same quarter of the prior year, Sun TV Network recorded a net profit of ₹425 crore. The firm’s operational revenue witnessed a 4.1% rise, reaching ₹923.2 crore compared to ₹886.9 crore in the corresponding period of the previous fiscal.
Glenmark Pharma
The pharmaceutical company registered a net loss of ₹330.8 crore for the third quarter concluding on December 31, 2023. In the corresponding quarter of the previous year, Glenmark Pharma recorded a net profit of ₹290.7 crore. The firm’s operational revenue witnessed a 19.1% decrease, amounting to ₹2,506.7 crore compared to ₹3,100 crore in the corresponding period of the previous fiscal.
Gland Pharma
Gland Pharma recorded a 17.3% YoY decrease in Q3 net profit, amounting to ₹191.9 crore, compared to ₹231.9 crore in the same quarter last year. However, the company witnessed a substantial 64.7% increase in revenue from operations, reaching ₹1,545.2 crore for the quarter ending December 31, 2023, as opposed to ₹938.3 crore in the corresponding period of the previous fiscal.
PTC INDIA
PTC India, a provider of power trading solutions, recorded a more than 7% decline in its combined net earnings, reaching ₹97.04 crore for the quarter ending December 2023. This compares to a net profit of ₹104.48 crore in the corresponding period the previous year. Despite the decrease in net profit, the company’s total income rose to ₹3,483.93 crore from ₹3,146.91 crore year-on-year.
(source: cnbctv18)
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