Ashok Leyland, Hindustan Aeronautics, NTPC, Paytm, and Others

Dalal Street was in the grip of bears on Thursday as benchmark indexes fell more than 2.6 percent after a decline in their global peers amid concerns about growth and inflation fears. Selling pressure was also seen in a broader space with the Nifty Midcap 100 down 3 per cent and the Smallcap 100 down 2.7 per cent. The BSE Sensex Index fell 1,416 points, or 2.6 percent, to 52,792 points, while the Nifty50 Index fell 431 points, or 2.65 percent, to 15,809 points.

Today’s results

NTPC, One 97 Communications (Paytm), Amara Raja Balls, Gati, HeidelbergCement India, Indiabulls Housing Finance, IDFC, Indigo Paints, Indian Railway Finance Corporation, JK Tire and Industries, CE Info Systems, Metro Brands, Narayana Hrudayalaya, Nuvoco Vistas Corporation , Paras Defense and Space Technologies, Pfizer, SML Isuzu, Sobha, Thermax and Zydus Lifesciences will report March quarter earnings on May 20.

Equitas Microfinance Bank

Veteran banker PN Vasudevan has resigned as managing director and CEO of Equitas Small Finance Bank, the lender has told stock exchanges. Vasudevan, in his resignation letter, said he wants to devote his time to social welfare through his public charitable fund.


State-run Hindustan Petroleum Corporation and oil refiner reported a 34 per cent drop in consolidated net profit in the March quarter to 2019 of Rs.3,061 crore in the same period last year due to higher overall cost. Revenue for the quarter was Rs 1.07 trillion, up 24.2 per cent from Rs 85,755 crore last year. Total cost rose by 28 per cent to Rs 1.05 trillion from Rs 81,717 crore a year earlier. Operating margin for the quarter shrank sharply to 1.57 percent from 4.46 percent last year. Gross refining margin during the year ending March 2022 averaged $7.19 per barrel versus $3.86 per barrel during the corresponding prior year.

Godrej Consumer Products

Godrej Consumer reported a 1 per cent drop in net profit for the March quarter to Rs.363 crore year-on-year due to slower consumption and higher commodity inflation. Revenue increased by 7 per cent on last year to Rs.2,920 crore. The total cost increased by 12 per cent YoY to Rs 2,540 crore.

Gland Pharma

Gland Pharma’s net profit increased by 10 per cent to Rs 285.90 crore in the quarter ended March 2022 as against Rs 260.41 crore during the same prior fiscal quarter. Net sales increased by 24.25% to Rs.1,103.01 crore from Rs.887.75 crore a year ago. The EBITDA margin shrank sharply to 35 percent from 40 percent year on year.

Ashok Leyland

The company reported a 274 per cent YoY jump in net profit at Rs.901.4 crore for the fourth quarter of FY22. Total income stabilized at Rs.8744.3 crore during the quarter, up by 24.9% from Rs.7,000.5 crore in the corresponding period of the previous fiscal year. Its truck market share improved for Q4 FY22 to 30.6 percent from 28.9 percent in Q4 FY21, the highest market share seen in the last 11 quarters.


Subsidiary Biocon Biologics and Viatris Inc. Abevmy (Bevacizumab) is now available in Canada. Abevmy, co-developed by Biocon Biologics and Viatris, is a biosimilar to Roche’s Avastin (Bevacizumab) and has been approved by Health Canada across four oncology indications.

Eros International

Its Board of Directors approved an increase of Rs 405 crore by issuing Rs 13.50 crore at Rs 30 per share.

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