PRE-MARKET INDIAN STOCKS NEWS: Earnings updates
Indian markets saw diverse Q1 results: private banks surged, Adani Energy expanded its order book to 80,000cr, while Bank of Baroda and Jindal Steel faced significant profit declines.
News detail
Adani Energy Solutions (ADANIT IS) - Co. secured an interstate power transmission project in Andhra Pradesh worth about INR 85bln, taking its order book to more than INR 800bln. (ET)AU Small Finance Bank (AUBANK IS) - Co. Q1 (INR) net profit rose 37% Y/Y to 8.0bln. (ET)Bank of Baroda (BOB IS) - Co. Q1 (INR) net profit fell 71.8% Y/Y to 12.8bln after absorbing a one-off exceptional item, while reporting strong loan growth and stable asset quality. (ET)IDFC First Bank (IDFCFB IS) - Co. Q1 (INR) net profit rose 132.4% Y/Y to 10.8bln. (ET)Jindal Steel (JSP IS) - Co. Q1 (INR) net profit fell 43.6% Y/Y to 8.4bln, revenue rose 25.9% Y/Y to 154.8bln. (Moneycontrol)Maruti Suzuki (MSIL IS) - Co. is targeting becoming India's largest SUV maker by expanding its utility vehicle portfolio and repositioning its brand. (ET)NTPC (NTPC IS) - Co. Q1 (INR) net profit rose 11.9% Y/Y to 53.4bln, revenue rose 3.0% Y/Y to 438.3bln. (Moneycontrol)Oil & Natural Gas Corp (ONGC IS) - Co. commenced drilling its first deepwater exploratory well in the Mahanadi offshore basin as part of a campaign to develop India's deep and ultra-deepwater hydrocarbon resources. (ET)Tata Consumer Products (TGBL IS) - Co. Q1 (INR) net profit rose 27.8% Y/Y to 4.3bln, revenue rose 11.9% Y/Y to 53.5bln. (Moneycontrol)
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