Stocks in news: InterGlobe Aviation, Aurobindo Pharma among 6 top stocks
InterGlobe Aviation, the parent company of the low-cost airline IndiGo, reported an impressive 110.7% year-on-year growth in profit
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State Bank of India (SBI) reported a standalone profit of Rs 9,164 crore for the quarter ending December FY24, marking a significant 35.5% decline compared to the same period last year. The drop was attributed to an exceptional loss of Rs 7,100 crore incurred during the quarter. However, the net interest income showed a 4.6% year-on-year growth, reaching Rs 39,816 crore.
Tata Motors, a Tata Group company, witnessed a robust 137.5% year-on-year growth in consolidated profit, reaching Rs 7,025 crore for the quarter ending December FY24. This surge was driven by strong operating performance, as revenue from operations increased by 25% YoY to Rs 1,10,577 crore.
InterGlobe Aviation, the parent company of the low-cost airline IndiGo, reported an impressive 110.7% year-on-year growth in profit at Rs 2,998.1 crore for the October-December period of FY24. The surge was attributed to a healthy topline and strong operating performance, with revenue from operations increasing by 30% to Rs 19,452 crore compared to the corresponding period last fiscal.
UPL, a crop solutions company, posted a consolidated net loss of Rs 1,217 crore for the third quarter of FY24, in contrast to a profit of Rs 1,087 crore in the year-ago period. The poor performance was impacted by a significant fall in revenue from operations, which dropped by 27.7% to Rs 9,887 crore compared to the corresponding period last fiscal.
Aurobindo Pharma's subsidiary, Eugia Pharma Specialities, underwent a US FDA inspection at its formulation manufacturing facility in Telangana from January 22 to February 2. The inspection concluded with 9 observations from the US FDA.
Bank of India, a public sector lender, reported a notable 62.5% year-on-year increase in standalone profit, reaching Rs 1,870 crore for the quarter ending December FY24. This growth was driven by a decline in bad loan provisions. However, net interest income for the quarter fell by 2.4% year-on-year to Rs 5,463 crore, and net interest margin declined by 43 basis points YoY to 2.85%.
