Quarterly updates are driving the flow of Indian markets in the current scenario. The Power sector has been on the rise in this quarter. This has also been displayed in one of the Power segment giants Tata Power. The company has registered a growth of 48% in its net profit. Alongside this the major company of the Adani conglomerate has also shown growth.
Tata Power
The company has been one of the major power segment players in the past decade. It has registered a 939 Crore Rs of net profit in the quarter of March 2023. The company’s net profit has grown 48%. However the company has also proved the estimates of Dalal Street wrong. The estimates of analysts were at 670 Crore Rs of profit for the firm. It has beaten that by a huge margin. The company’s revenue from operations was 12454 Crore Rs. This has been 4.1% more than the previous year’s quarter. The operating margin of the firm was lower which can be easily noted due to the revenue growth of 4.1% against t5he profit jump of 48%. This shows the income from other sources has been more.
The major support in net profit was from the transmission and distribution business. It recorded a growth of 16%. The company recorded its earnings before interest, tax, depreciation and amortisation at 1927 Crore Rs which is 3/2% more than the previous year’s quarter. The margin was however around 15.5% which fell by 10 bps. The revenue of the firm was expected around 12950 Crore Rs by the analysts which was missed by the firm. But on the other hand the earnings before interest, tax, depreciation and amortisation was more than the expectations of 1813 Crore Rs. Tata Power declared a dividend of 2 Rs per share. The current share price of the company is around 207 Rs per share.
Adani Enterprises
The flagship company of the Adani Conglomerate recorded a boom of double profit in this quarter in comparison to March 2022. The company’s profit was 722.5 Crore Rs in comparison to the 304.32 Crore Rs in the previous year’s quarter. The company’s revenue increased from 25141 Crore Rs in March 2022 from 31716 Crore Rs in March 2023. This will definitely boost the investor’s confidence in the firm.
The Hindenburg report has been a major headache for the group and as a result of it the company has also recorded a major loss in valuation. This result will fuel up the motivation of investors to stay invested in the firm. The company has been able to achieve this growth despite the rumours published by the Hindenburg group in its report. The current share price of the firm is around 1964 Rs per share.
Hero MotoCorp
The net profit of Hero Motocorp was 37% more than the previous year’s quarter. The company has generated a net profit of 859 Crore Rs. The same figures for the March 2022 quarter was 627 Crore Rs. The revenue of the firm has also increased from 7421 Crore Rs to 8307 Crore Rs. The earnings before interest, tax, depreciation and amortisation increased by a mighty 31% from 827 Crore Rs to 1083 Crore Rs. The margins of the firm were 11.2% in the previous quarter which rose by 13%. The company declared a dividend of 35 Rs per share. With this the total tally of dividend declared by the firm in this year was 100 Rs per share.
In this quarter the company has also initiated its business expansion into the EV segment. The VIDA model has been made affordable to increase the sales of the company in this segment. The rollout of its EV product is planned in more than 100 cities now. The company is expecting a growth of sales in the two wheeler segment to 2 times in the coming year. The current share price of the company is around 2605 Rs per share.
HDFC
The company has recorded a major rise in sales to 35.61%. The sales of the firm came at 16679 Crore Rs which was 12299 Crore Rs in the previous year’s quarter. The net profit of the firm increased by 19.6% from 3700 Crore Rs in March 2022 to 4425 Crore Rs in the March 2023 quarter. The earnings before interest, tax, depreciation and amortisation stood at 15681 Crore Rs. This figure displayed a jump of 36.96% in the earnings before interest, tax, depreciation and amortisation figures after comparison with the previous year’s quarter of 11449 Crore Rs. The earnings per share of the firm increased to 24.19 Rs. The same for the previous year was 20.43 Rs per share. The current share price of the firm is 2787 Rs and it has already given a return of 16.13% in the previous year.
