Kolkata: On February 6, Indian stock market indices ended the day lower. Sensex settled at 78,058.16 points, down 213.12 points or 0.27%, while Nifty ended the trading session at 23,603.35 points, down 92.95 points or 0.39%. Today, February 7, all eyes will be on RBI MPC meeting. If the central bank governor Sanjay Malhotra announces a 25 basis point rate cut as expected it could boost depressed investor sentiments.
A rate cut can positively impact the demand scenario in the country which has been suffering recently in the high-profile urban sectors. If demand goes up, it will help companies report higher revenues and, hopefully, more profits to help boost market sentiments.
SBI Q3 results
On Thursday, February 6, State Bank of India (SBI) reported a big 84% jump in net profit at Rs 16,891 crore for the Q3 FY25 period (October-December 2024), which beat estimates. In the same period last year, the bank had raked in a net profit of Rs 9,164 crore. The NII (net interest income) of SBI rose 4% to Rs 41,446 crore from the level of Rs 39,816 crore in the same period last year. Employee expenses declined 17% to Rs 16,074 crore. SBI’s gross NPA ratio improved by 35 basis points and stood at 2.07%, while the net NPA ratio was at 0.53% — an improvement by 11 bps (y-o-y). SBI’s gross loans went past the Rs 40 lakh crore mark in Q3 with gross advances touching Rs 40,67,752 crore – up 13.5% (y-o-y) from the level of Rs 35,84,252 crore.
ITC Q3 results
Cigarettes to FMCG major ITC on February 6 reported a dip of 7.27% in net profits that was recorded at Rs 5,013.16 crore for Q3 FY25 period. The Kolkata-headquartered company reported a consolidated bottomline of Rs 5,406.52 crore in Q3 FY24. The company’s revenue from operations, however, registered a rise of 9.05% to reach Rs 20,349.96 crore in October-December 2024 period. It stood at Rs 18,660.37 crore in Q3 last year. Total expenses for ITC was reported to be 12.18% higher in Q3 FY25 and reached a figure of Rs 14,413.66 crore.
Bharti Airtel Q3 results
On February 6, telecom major Bharti Airtel reported a net profit of Rs 14,760 crore for Q3 FY25 period (October-December 2024), which is a whopping 483% rise from Rs 2,530 crore in the same period last year. The jump is due to Indus Towers turning into its subsidiary in November 2024. Bharti Airtel registered an exceptional gain of Rs 9,267 crore.
Britannia Q3 results
FMCG major Britannia Industries announced a 5% (year-on-year) increase in net profit to Rs 582 crore for Q3 FY25. The comparable amount was Rs 556 crore in the similar period last year (October-December 2023). Its revenue from operations rose 6.4% to touch Rs 4,463 crore in Q# FY25, compared to Rs 4,191.83 crore in the same quarter last year. The company’s gross expenses for Q3 FY25 jumped 9% to touch Rs 3,875 crore due to the rise in the cost of materials.
Apollo Tyres Q3 results
Due to weaker operating performance, the Q3 FY25 net profit figure for Apollo Tyres dipped 32.1% to reach Rs 337.2 crore. It was at Rs 497 crore in Q3 FY24. The company’s revenue, however, increased 5% (y-o-y) to reach Rs 6,928 crore. The operating profit figure (EBITDA) went down 21.6% to reach Rs 947 crore. This figure stood at Rs 1,208 crore in Q3 last year.
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The stocks in news today (February 7) include SBI, ITC, Bharti Airtel, Britannia, Apollo Tyres for their Q3 FY25 results. SBI, the country’s largest bank, and Bharti Airtel have posted big jumps in net profits for the October-December 2024 quarter for different reasons. Markets Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
