Adani Wilmar sed over 2 percent as net profit declines 73.3 percent

The Markets Today in a nutshell

• Domestic benchmark indices ended with minor cuts in a volatile session.
• India Services PMI rose from Septembers six-month low of 54.3 to 55.1 in October. An additional meeting of the Reserve Bank of India’s Monetary Policy Committee (MPC) has been scheduled for 3 November 2022. The US Fed on Wednesday announced a 75 basis points hike in interest rates as widely expected.

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News you could use

? HDFC reports robust Q2 numbers
The mortgage lender reported a net profit of Rs 4,454.24 crore for the July-September quarter, a year-on-year increase of 17.8 percent on the back of robust loan growth. The housing finance company’s total interest income was Rs 13,142.93 crore, a growth of 24.2 percent from the year-ago period.

? HPCL reports net loss of Rs. 2,172 crore; revenue declines 5.3 percent
The firm reported a standalone net loss of Rs 2,172 crore for the quarter ended September 30, 2022, against a loss of Rs 10,197 crore recorded in the June quarter. Its revenue declined 5.3 percent sequentially to Rs 1.08 lakh crore from Rs 1.14 lakh crore in the June quarter. However, revenue jumped 30 percent year-on-year. The average gross refining margin (GRM) for the April-September period was $12.62 per bbl as against $2.87/bbl in the same period last year.

? Adani Wilmar sed over 2 percent as net profit declines 73.3 percent
The company’s net profit declined 73.3 percent to Rs 48.7 crore against Rs 182.3 crore in the year-ago period. Its revenue was up 4.4 percent at Rs 14,150 crore against Rs 13,558 crore, while EBITDA was down 40.8 percent at Rs 254.5 crore from Rs 430 crore in the year-ago quarter.

News from the IPO world?

• Bikaji Foods IPO opens today
• Archean Chemical IPO to open on Nov 9
• ESAF Small finance bank is refiling draft papers for IPO

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