Pre Market Analysis: Dalal Street may open lower; RIL, ONGC, SBI and PFC in news today

Reliance Industries Ltd (RIL): The company is targeting to become one of the largest producers of blue hydrogen globally, producing the zero-emission fuel at costs that will be half of the global average. The company will re-purpose a Rs 30,000 crore plant that currently converts petroleum coke into synthesis gas to produce blue hydrogen for $1.2-1.5 a kilogram, Reliance said.

Oil and Natural Gas Corporation (ONGC): The state-owned company posted a net profit of Rs 8,764 crore in Q3FY22, up 596.7 per cent from Rs 1,258 crore net profit in the same period a year back. The rise was due to higher oil and gas prices. Revenue in the quarter under review was up 67.3 per cent YoY to Rs 28,474 crore.

State Bank of India (SBI): The bank is expecting to recover around Rs 8,000 crore from written-off accounts, including from NCLT resolved cases, in the current fiscal year to be ending on March 31, 2022. During the third quarter ended December 2021, SBI recovered Rs 1,500 crore from written-off accounts and for the nine months during April-December FY22, the recovery amount stands at Rs 5,600 crore, SBI said in a post Q3 FY22 earnings call with analysts.

Power Finance Corporation (PFC): The company posted a nearly 24 per cent rise in its consolidated net profit to Rs 4,893.91 crore for the December quarter, as against a consolidated net profit of Rs 3,963.18 crore in the quarter ended December 2020. The total income in the quarter under review rose to Rs 19,215 crore from Rs 18,441.72 crore in the year-ago period.

Oil India Ltd: The company reported 37 per cent jump in third quarter net profit to Ra 1,244.90 crore as it benefitted from a rise in international oil prices. It has posted Rs 903.69 crore net profit in the same period a year ago. Total income jumped 88 per cent to Rs 4,705.20 crore in Q3FY22. Average crude oil price realization for Q3 2021-22 is USD 78.59 per barrel as compared to USD 44.09 for Q3 of 2020-21, increase of 78.25 per cent.

Tata Motors: The company expects CNG cars contribution to grow up to 20 per cent gradually in its total sales over the next 3 to 5 years as it anticipates more entry-level petrol and diesel customers to opt for such models. The auto major is also bullish on the electric vehicle segment with sales expected to account for about 20 per cent of its overall dispatches over the next few years.

Muthoot Finance: The company reported a rise of 4 per cent in its consolidated net profit at Rs 1,043.60 crore in the quarter ended December 2021, as against a net profit of Rs 1,006.60 crore in the corresponding quarter a year ago. Total income during the quarter rose by 5 per cent to Rs 3,168.10 crore, as against Rs 3,016.40 crore in the same period of FY21.

NHPC: The state-owned hydropower giant reported a nearly 7.5 per cent dip in its consolidated net profit to Rs 888.76 crore in the December 2021 quarter, as against a consolidated net profit of Rs 961.64 crore in the corresponding quarter last fiscal. Its total income in October-December 2021 stood at Rs 2,373.72 crore, compared with Rs 2,610.69 crore in the year-ago period.

Ashok Leyland: The company has posted a net profit of Rs 6 crore during the third quarter of the current financial year as compared to a loss of Rs 19 crore during October to December period of the previous financial year. The revenues for the quarter under review stood at Rs 5,535 crore as against Rs 4,814 crore in the third quarter of FY21.

Allcargo Logistics: The company reported a multi-fold jump in consolidated net profit to Rs 354.16 in Q3FY22 compared to Rs 22 crore (after adding back exceptional losses) in the same quarter last year. Income from operations rose 114 per cent to Rs 5,869 crore for the quarter in comparison to Rs 2,734.68 crore in Q3FY21.
 
Voltas Ltd: The company reported 24.93 per cent decline in consolidated net profit at Rs 96.56 crore in Q3FY22 due to muted demand and impact of the third wave of the pandemic on trade and consumer sentiments. It had posted a consolidated net profit of Rs 128.64 crore for the year-ago period. Revenue from operations was down at Rs 1,793.59 crore during the period under review as against Rs 1,994.64 crore in the year-ago period.

Apollo Hospitals Enterprise: The company said its consolidated net profit increased 81.34 per cent to Rs 243.25 crore in the third quarter ended December 2021, as against a net profit of Rs 134.15 crore in the corresponding period last fiscal. Its total income in Q3FY22 increased to Rs 3,656.08 crore, compared with Rs 2,765.35 crore in the year-ago period.

Godrej Industries Ltd: The company reported a profit after tax of Rs 182.78 crore for the third quarter ended December 2021, compared with a net profit of Rs 170.66 crore in the year-ago period. Its revenue from operations was at Rs 3,514.61 crore during the quarter, as against Rs 2,356.4 7 crore in the corresponding quarter last fiscal. The company also announced an investment of up to Rs 2,500 crore in two subsidiaries Godrej Properties and Godrej Agrovet Ltd.

Sobha Ltd: The realty firm reported a 51 per cent increase in its consolidated net profit at Rs 32.7 crore for the quarter ended December 2021, as net profit stood at Rs 21.6 crore in the year-ago period. Total income almost remained flat as it rose to Rs 697.5 crore in Q3FY22, from Rs 696.3 crore in the corresponding period of the previous year.

Brookfield REIT: The company saw its net profit drop 12 per cent to Rs 60 crore in Q3FY22, compared to the preceding quarter. The realty major’s revenue fell 8 per cent QoQ to Rs 195 crore in the third quarter of FY22. It did not disclose year-ago numbers in its financials.

Kalpataru Power Transmission Ltd (KPTL): The company reported a 15.9 per cent drop in its consolidated net profit at Rs 259 crore in Q3FY22, as against a net profit of Rs 308 crore in Q3FY21. Total income stood at Rs 3,918 crore in the reported quarter, compared with Rs 3,520 crore in the same period a year ago.

Metropolis Healthcare: The company said its net profit declined 29.69 per cent to Rs 41.2 crore for the third quarter ended December 2021, as against a net profit of Rs 58.6 core in the same period of previous fiscal. Revenues increased to Rs 293.1 crore in the period under review as against Rs 274.7 crore in the same period of FY21.

VA Tech WABAG Ltd: The company posted a standalone profit after tax at Rs 60 crore, up 50 per cent year-on-year. Its standalone revenue for the quarter ending December 2021 grew by 30 per cent to Rs 1,490 crore. A top official said that the company was confident of keeping the momentum in the fourth quarter and continue to yield profitable growth.

Nazara Technologies: Digital gaming and sports platform posted about a 17 per cent fall in consolidated profit after tax (PAT) at Rs 14.8 crore in Q3FY22, compared with a PAT of Rs 17.9 crore in the corresponding quarter last fiscal. Its consolidated revenue from operations during the reported grew 42.48 per cent to Rs 185.8 crore, compared with Rs 130.4 crore in the year-ago period.

Garden Reach Shipbuilders Ltd (GRSE): The state-owned defence company announced a 10 per cent jump in net profit to Rs 63 crore YoY for the third quarter of FY22. The revenue from operations was Rs 486 crore during the quarter under review, against Rs 359 crore in the corresponding period last year. With commodity inflation, the cost of materials consumed during the quarter jumped to Rs 266 crore against Rs 162 crore in the same period of 2020.

The warship maker also announced a Rs 56 crore interim dividend to shareholders and the government will get Rs 42 crore as it holds three-fourth of the total shares.

Fortis Healthcare: The company said its consolidated profit after tax (PAT) rose by over twofold to Rs 142 crore in Q3FY22, as against a PAT of Rs 54 crore in the corresponding period last fiscal. Its revenue during October-December 2021 rose to Rs 1,466.7 crore as compared with Rs 1,177 crore in the year-ago period.

Dr Reddy’s Laboratories and Novartis India Ltd: The two companies have entered into an exclusive sales and distribution agreement that will lead to around 400 Novartis India employees being laid off due to role redundancies. Dr Reddy’s will have exclusive rights to promote and distribute the well-established Voveran range, the Calcium range and Methergine in India.

Max Healthcare Institute Ltd: The hospital chain reported a consolidated profit after tax (PAT) at Rs 189.75 crore for the third quarter ended December 2021. The company had posted a PAT and share of associates at Rs 90.36 crore for the year-ago period. Revenue from operations was at Rs 974.16 crore. It was at Rs 795.60 crore in the year-ago quarter, it added.

Akzo Nobel India Ltd: Paints manufacturer reported a 4.06 per cent decline in its consolidated net profit to Rs 83.82 crore in Q3FY22 due to higher raw material inputs. The company had posted a net profit of Rs 87.37 crore in the year-ago period. Its revenue from operations climbed 18.03 per cent to Rs 914.34 crore during the quarter under review, as against Rs 774.64 crore in the corresponding period of the previous fiscal.

Inox Wind: The company reported widening of its net loss to Rs 63.95 crore in Q3FY22, as against a net loss of Rs 51.97 crore in Q3FY21. Total income dipped to Rs 185.91 crore in the quarter from Rs 209.44 crore in the same period a year ago.

Dhampur Sugar Mills Ltd: The company reported a 39 per cent increase in its consolidated net profit to Rs 76.01 crore for the quarter ended in December 2021, as against a net profit of Rs 54.56 crore in the year-ago period. Total income fell to Rs 964.27 crore in the third quarter of this fiscal year from Rs 1,110.07 crore in the corresponding period of the previous year.