New Delhi: The shares price of Vedanta, Hindustan Zinc, SpiceJet, PC Jeweller, Black Box, Allcargo Logistics, and Shriram Properties are expected to be in focus on August 16, 2024, i.e. Friday.
Vedanta and Hindustan Zinc
Vedanta confirmed it has raised the offer-for-sale size of Hindustan Zinc and will offload 3.31 per cent stake in the company. The mining conglomerate board gave the green signal for the sale of up to 11 crore shares or 2.60 per cent stake in Hindustan Zinc through offer-for-sale (OFS).
“The duly authorised Committee of Directors of Vedanta Ltd , at its meeting held on August 14, 2024, has approved the sale of up to 14,00,00,000 equity shares of Hindustan Zinc Ltd (HZL), representing 3.31 per cent of the issued and paid-up equity share capital of HZL, by way of an offer-for-sale,” Vedanta said in a filing to BSE.
SpiceJet
According to a regulatory filing, SpiceJet reported a 27 per cent decline in standalone profit at Rs 149.96 crore in Q1 Results 2024-25 as compared to a standalone profit of Rs 204.56 crore in the June 2023 quarter. The total income dropped to Rs 2,067.21 as against Rs 2,268.06 crore in 2022-23.
SpiceJet’s total expenses declined to Rs 1,917.25 crore compared to Rs 2,063.49 crore in the year-ago period, while the operating profit in the first quarter of this fiscal jumped 27 per cent to Rs 393 crore as against Rs 310 crore reported in the 2024 March quarter.
“This fresh infusion of funds will be pivotal in enabling the airline to expand and unground its fleet, enhance operational capabilities, settle liabilities and improve its overall market competitiveness. These funds will stabilise the overall operations and allow expansion,” it said in the release.
PC Jeweller
In its Q1 2023-24 Results, Jewellery retailer PC Jeweller Ltd reported a consolidated net profit of Rs 156.06 crore as compared to a net loss of Rs 171.62 crore in the same period in 2022-23. In its exchange filing, the company mentioned that revenue from operations jumped to Rs 401.15 crore during the quarter from Rs 67.68 crore in the Q1 of the previous year.
Black Box
IT company Black Box declared its Q1 Results 2023-24 declared 54.9 per cent increase in consolidated net profit at Rs 37.09 crore. It mentioned that its net profit stood at Rs 23.94 crore for the year-ago period.
According to a regulatory filing, Black Box stated that its revenue from operations was reported at Rs 1,423.3 crore, down from Rs 1,571.4 crore in the first quarter of 2023-24. Profit and revenue saw a decline of 9.31 per cent and 3.85 per cent, respectively.
“The growth in topline was affected due to delays in decision-making, leading to delayed project execution coupled with muted demand for our product business from some federal partners during the quarter.
“However, we continue to deliver on EBITDA and profitability over the last few quarters with strong focus on productivity and deal margins, as evidenced by a 28 per cent YoY growth in EBITDA and 55 per cent YoY increase in our profit after tax,” said Deepak Kumar Bansal, executive director and global CFO, Black Box.
Allcargo Logistics
According to a regulatory filing, Allcargo Logistics’ net profit dropped 97 per cent to Rs 3.36 crore in the June 2024 quarter, while the company’s standalone net profit was Rs 198.26 crore a year ago. Its income from operations increased 46 per cent to Rs 526.47 crore as compared to Rs 360.26 crore in Q1 FY24.
“The LCL (less-than-container load) volume for the June quarter stood similar to the same quarter last year at 2.25 million CBM (cubic metre), while FCL (full container load) volume stood at 1,56,000 TEUs, up 9 per cent on a year-on-year basis,” it said.
Shriram Properties
In its Q1 2024-25 Results, realty firm Shriram Properties had declared a 5 per cent increase in its consolidated net profit to Rs 17.46 crore as compared to Rs 16.62 crore in the year-ago period. For the quarter ended June on higher income, the realty company’s total income jumped to Rs 210.90 crore from Rs 157.17 crore in the corresponding period of the previous year.
According to a regulatory filing, Shriram Properties reported sales volumes of 0.70 million square feet and sales values of Rs 376 crore during the first quarter of 2024-25.
“Our strong market presence and success of our strategic initiatives give us confidence in maintaining growth and delivering on promises in the years to come.” “Our solid project pipeline, a strong execution platform, and our unwavering focus on costs and quality will contribute towards profitable growth even in the future,” Murali M, CMD, Shriram Properties said.
(Disclaimer: This article is only meant to provide information. News9 does not recommend buying or selling shares or subscriptions of any IPO and Mutual Funds.)
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