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Stocks in Focus: Hero Motocorp, ONGC, MCX, Pfizer, DOMS Industries, Bandhan Bank
In the financial world today, several prominent stocks are making headlines:
Hero Motocorp: The leading two-wheeler manufacturer in India, Hero Motocorp, reported a substantial 51% YoY surge in net profit to Rs 1,073 crore in Q3, with revenue from operations increasing by 21% to Rs 9,723.73 crore. The robust performance is attributed to increased profits and volumes during the festive period.
ONGC: The state-owned petroleum giant witnessed a 10% decline in net profit for the December quarter, totaling Rs 10,356 crore. Despite a 2.2% dip in revenue from operations at Rs 1,65,569 crore, ONGC's board approved a second interim dividend of 80%.
Multi Commodity Exchange of India (MCX): MCX reported a net loss of Rs 5.3 crore for Q3, a significant shift from the net profit of Rs 39 crore in the previous year. The firm's revenue from operations rose by 33% to Rs 191.5 crore, demonstrating a dynamic performance.
Pfizer: The pharmaceutical company experienced a 13.7% YoY decline in net profit to â¹130 crore in Q3, coupled with a 13.2% decrease in revenue at Rs 540 crore. EBITDA also dropped by 24.9% to Rs 153.4 crore, reflecting challenging market conditions.
DOMS Industries: The stationery and art material company showcased robust financials, with PAT growing by 43.4% to Rs 388.2 million and revenue from operations increasing by 22.3% to Rs 3,716.1 million in Q3.
Bandhan Bank: The bank recorded a remarkable 152% YoY increase in net profit, reaching Rs 732.7 crore in Q3. The Net Interest Income (NII) experienced annual growth of 21% at Rs 2,525 crore.
Tata Power: The power transmission company reported a modest 0.8% YoY increase in consolidated net profit at Rs9.53 billion for Q3, driven by strong energy demand amid higher costs.
Bajaj Hindusthan Sugar: The company turned profitable in Q3, posting a consolidated net profit of Rs 20.28 crore, a significant improvement from the net loss reported in the same period last year.
EaseMyTrip: Online travel services provider EaseMyTrip reported a 9.5% rise in net profit to Rs 45.7 crore in Q2FY24, accompanied by an 18.1% YoY increase in net consolidated revenue at Rs 160.8 crore.
Investors are keenly observing these developments, anticipating their impact on the respective companies and the broader market.
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