Kolkata: One of the concerns that has contributed to the correction in Indian stock market in the past few weeks has been concerns over lacklustre third quarter (October-December) earnings season. Worried over subdued earnings, among other factors such as continuous fall of the Indian rupee against the dollar, Foreign Institutional Investors (FIIs) have pulled out their investments in Indian equities. However, on Friday, a few companies such as Bank of India, HPCL (Hindustan Petroleum Corporation) and Shriram Finance have posted significantly improved results, while JSW Steel had a huge dip.
On Friday (January 24), both indices Sensex and Nifty ended in the red. Sensex 30 ended the day’s trade at 76,190.46 points, down 329.92 points (or 0.43%), while Nifty 50 closed the day at 23,092.20 points, down 113.15 points (or 0.49%). Summing up the movement of Sensex in the entire week (January 20-24), it is seen that this index lost 592.15 points (or 0.77%), while Nifty lost 116.55 points (or 0.50%).
Bank of India Q3 results
On January 24, Bank of India announced its Q3 results for FY25 and came up with a jump of 34.6% in net profit to in the October-December period, when it stood at Rs 2,516.7 crore. The comparative figure in the corresponding period last year was Rs 1,869.5 crore. According to reports, the rise was on account of a dip in 1,869.5 crore NPA. The net interest income of the PSU bank jumped 11.1% to reach Rs 6,070.3 crore in Q3 of the current fiscal. The figure was Rs 5,463.5 crore in Q2 of FY25.
HPCL Q3 results
Thanks to high marketing margins amid declining crude oil prices and better domestic sales in Q3, PSU oil marketer Hindustan Petroleum Corporation Limited (HPCL) has reported a whopping 471% surge in net profit at Rs 3,023 crore. The net profit figure for October-December 2024 period stood at Rs 529 crore. onsidered sequentially, the net profit rose 379% — the company having recorded a net profit of Rs 631.18 crore in the period between July and September 2024. Its total income rose to Rs 1,19,415 crore in Q3 FY25 compared to Rs 1,19,000 crore in Q3 FY24. The throughput of HPCL was 6.47 million metric tonne in Q3 FY25 against 5.34 million metric tonne in the corresponding period last year.
Shriram Finance Q3 results
Major NBFC Shriram Finance reported a big rise of 96.32% in its PAT for Q3 FY25, which rose to Rs 3,569.76 crore. The comparative figure stood at Rs 1,818.33 crore during the same period last year. However, this sharp rise in PAT includes a one-time amount of Rs 1,489.39 crore which accrued from the sale of its stake in Shriram Housing Finance. The net interest income of Shriram Finance increased 13.81% y-o-y and touched Rs 5,589.58 crore in Q3 FY25. The figure for the comparative period last year was Rs 4,910.99 crore. Shriram Finance also announced a second interim dividend of Rs 2.5 per share.
JSW Steel Q3 results
JSW Steel Q3 FY25 results could hugely dampen investor sentiments. JST Steel’s revenue crawled down by 1.34% (y-o-y). The PAT figure went down by a whopping 70.31% compared to the Q3 FY24 figures. However, when compared against Q2 of FY25, revenue grew by 4.27% and profit by 63.33%. The company’s expenditure under selling, general and administrative heads dipped 5.82% (q-o-q) and 2.79% (y-o-y).
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The stocks Bank of India, HPCL, Shriram Finance, JSW Steel are expected to be in focus on Monday, January 27, 2025. On Friday, January 24, Bank of India Q3 profit rose 35% to Rs 2,517 crore, HPCL shares pared early gains to decline nearly 3%, Shriram Finance Q3 profit zoomed 73% to reach Rs 3,249 crore and JSW Steel net profit dived 70% down to Rs 719 crore in Q3 FY25. Markets Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
