Sbi, Itc, Interglobe Aviation, Vodafone Idea, Adani Group, Paytm and more

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State Bank of India | India’s biggest lender reported a record quarterly profit of Rs 14,105 crore for the December period. Net interest income also topped a CNBC-TV18 poll. Provisions decreased year over year, but increased sequentially. Asset quality is the best in 29 quarters, but write-offs have increased sequentially. The SBI chairman clarified to CNBC-TV18 the exposure to the Adani Group, saying the total exposure was approximately 0.88% of the book and that no loans had been made against shares of the company. . The chairman further stated that the lender does not envisage any challenge to the Adani Group’s ability to service its debt.

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Reliance Industries, CGSB, WTO | The government is revising the windfall tax from 4 February. The Special Additional Excise Duty (SAED) on crude oil will increase from Rs 1,900 to Rs 5,050 per tonne, while that on diesel will increase to Rs 7.5 per liter from Rs 5 per litre. The SAED on petrol remains at zero, while that on ATF will rise to Rs 6 per liter from Rs 3.5 per litre.

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ICT | Delivered a strong quarter by exceeding expectations in all key activities. Cigarette volume growth for the December quarter at 15-16% versus growth expectations of 8-11%. Hospitality revenue up 50% and EBIT up 189% in the quarter. The company also announced an interim dividend of Rs.6. Management said there had been a continued recovery in the volume of illicit cigarette trade, while agribusiness revenues fell sharply and wheat and rice exports were curtailed in the quarter. . The company’s value-added spice processing plant was also commissioned during the quarter.

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Vodafone idea | The government will convert AGR dues of Rs 16,133 crore to be converted into shares. Conversion of shares made at Rs 10 each. This decision has been pending for a year and shows the government’s commitment to the future of Vodafone Idea. With a 35.8% stake, the government will be Vodafone Idea’s main shareholder. This may help the company refinance bank debts and repay dues to suppliers like Indus Towers and the proposed issue of Rs 1,600 crore debentures to ATC Telecom may also be accepted.

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InterGlobe Aviation | December quarter revenue up 60.7% to Rs 14,933 crore from Rs 9,294.7 crore last year. Net profit of Rs 1,422.6 crore vs. Rs 129.7 crore year-on-year. EBITDAR of Rs 3,399 crore against Rs 1,995.5 crore while EBITDAR margin is 22.8% against 21.5% last year.

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Paytm | One 97 Communications reported total revenue of Rs 2,140.2 crore, up nearly 40% year-on-year and in line with ICICI Securities estimates. The net loss narrowed to Rs 392.1 crore from Rs 778.5 crore year-on-year and also narrower than ICICI Securities’ estimate of Rs 502.4 crore. Turns EBITDA positive ahead of the planned September 2023 schedule. Operating profit of Rs 31 crore in the quarter compared to a loss of Rs 393 crore last year. Gross commodity value increased by 38% while average monthly transactions increased by 31.75%.

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Adani Group | Bloomberg reported over the weekend that Adani Enterprises had dropped plans to raise up to Rs 1,000 crore via bonds. Additionally, according to a PTI report, S&P Global Ratings revised its outlook on Adani Ports and Adani Electricity to negative following the Hindenburg report. Stocks like Adani Ports, Enterprises and Ambuja continue to remain within the ASM framework, while other companies in the group remained within their respective 5-10% lower circuits on Friday.

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Axis Bank | The private lender clarified its exposure to Adani Group, saying the total exposure is 0.94% of total advances. Funds-based outstanding is 0.29%, while non-funds-based outstanding is 0.58% of the bank’s net advances.

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marico | December quarter results largely in line with estimates and as alerted by the company in the quarterly business update. National volume growth of 4% in line with a CNBC-TV18 poll of 4-5%. Net profit helped by an increase in other income of Rs 40 crore from Rs 22 crore last year. Copra prices were down 1% sequentially and 18% from a year ago and are expected to remain range-bound in the near term. Value-added hair oil revenue fell 3% on muted consumer sentiment.

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Tata Power | Net profit for the December quarter exceeded estimates thanks to the improvement in the Indonesian coal activity due to higher coal prices. Operating profit and margin also exceeded expectations. Prior period revenue of Rs 430 crore booked in December quarter after CERC order for imported coal power plants. Tata Power Solar Systems’ order pipeline stands at 3.9 GW and is worth Rs 15,440 crore.

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Dalmia Bharat | Reports a strong quarter as exposure to Eastern India aids realizations on a sequential basis. Volumes increased by 10.5% compared to last year while EBITDA per ton increased by 41% to reach 1,022 rupees. Revenues increased by 22.7% compared to last year, while operating profit increased by 57%.

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JK Cement | Reports weak quarter as margin falls more than 800 basis points from last year despite revenue up 20%. Cost pressures have hurt the company’s operational performance. Electricity and fuel costs increased by 52%, transport and handling costs by 26%, while other expenses and labor costs increased by 13% each compared to last year.