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CORPORATE AND ECONOMY NEWS

* Reliance Industries Q1 FY2024 (QoQ): Revenue down 2.56% at Rs 2,10,831 crore vs Rs 2,16,376 crore. Ebitda down 0.9% at Rs 38,093 crore vs Rs 38,440 crore. Ebitda Margin at 18.06% vs. 17.7% (QoQ). Net Profit down 17% at Rs 16,011 crore vs Rs 21,327 crore.

* ICICI Bank Q1FY24: Net profit Rs 9,648 crore Vs Rs 6,905 crore (YoY). NII: Rs 18,226 crore vs Rs 13,210 crore (YoY) GNPA: 2.76% vs 2.81% (QoQ) NNPA: 0.48% vs 0.48% (QoQ).

* Kotak Mahindra Bank Q1FY24 (Standalone): Net Profit: Rs 3,452 crore vs Rs 2,071 crore (YoY). NII: Rs 6,234 crore vs Rs 4697 crore (YoY) GNPA: 1.77% vs 1.78% (QoQ) NNPA: 0.4% vs 0.37% (QoQ).

* Reliance Jio Q1 FY24 (Standalone, QoQ): Revenue Rs 24,042 crore vs. Rs 23,394 crore Net Profit: Rs 4,863 crore vs. Rs 4,716 crore Ebitda: Rs 12,578 crore vs. Rs 12,210 crore Margin: 52.31% vs. 52.19%.

* Vedanta Q1 FY24 (Consolidated, YoY): Revenue down 12.66% at Rs 33733 crore vs. Rs 38622 crore. Net Profit down 40.29% at Rs 2640 crore vs. Rs 4421 crore. Ebitda down 37.04% at Rs 6420 crore vs. Rs 10197 crore. Margin at 19% vs. 26.4%.

* DLF Q1 FY24 (Consolidated, YoY): Revenue fell 1% to Rs 1,423 crore vs. Rs 1,442 crore. EBITDA fell 4% to Rs 396.17 crore vs. Rs 413.6 crore. Margin 27.8% vs. 28.6%. Net profit up 12% to Rs 526.11 crore vs. Rs 469.21 crore.

* Indraprastha Gas (Consolidated, YoY): Revenue up 6.5% at Rs 3,761.8 crore vs Rs 3,530.3 crore. EBITDA up 4% at Rs 642.3 crore vs Rs 617.4 crore. EBITDA margins at 17.07% vs 17.48%. PAT up 8.4% at Rs 521.9 crore vs Rs 481.2 crore.

* Aarti Drugs Q1FY2024 (Consolidated, YoY): Total revenue from operations rose 6% to Rs 661.11 crore vs. Rs 621.96 crore. Net profit gained 38% to Rs 47.97 crore vs. Rs 34.78 crore. Ebitda rose 25% to Rs 84.08 crore vs. Rs 67.14 crore. Ebitda margin stood at 12.7% vs. 10.8%. Aarti Drugs: The company has approved the buyback of 6.65 lakh fully paid-up equity shares, representing 0.72%, at Rs 900 per share, aggregating up to Rs 59.85 crore, which is 5.44% and 5.10% of the fully paid-up equity share capital and free reserves.

* SJVN: The company signed Power Purchase Agreements for 300 MW of renewable energy projects. The agreements were signed by the company’s wholly-owned subsidiary, SJVN Green Energy. The deal includes a 200-MW solar project in Maharashtra and 100-MW wind power capacity in Delhi. The development costs of Maharashtra and Delhi projects are Rs 1,200 crore and Rs 750 crore, respectively.

* Biocon: The FDA has issued Form 483 with a total of eight observations after conducting two inspections in Malaysia facility.

* Power Finance Corporation: The company has signed a memorandum of understanding worth Rs 2.37 lakh crore with 20 companies, both public and private, in the clean energy segment. The company inked these MoUs with Adani Group, Greenco, ReNew, Continuum, Avaada, JBM Auto, Megha Engineering & Infrastructure, and Rajasthan Renewable Energy, among others.

* NHPC: The government of Arunachal Pradesh has allotted the Subansiri Upper HE Project of 2000 MW and the Kamala HE Project of 1800 MW to the company.

* Lupin: The drugmaker has received tentative approval from the U.S. FDA for Dolutegravir, Lamivudine, and Tenofovir Alafenamide Tablets under the U.S. President's Emergency Plan for AIDS Relief. This product would be manufactured at Lupin’s Nagpur facility in India.

* Aurobindo Pharma: The U.S. FDA has issued a Form 483 with three observations after inspecting the company's facility in Bachupally Village in Telangana. These observations are procedural in nature, and the company said it will respond within the stipulated timelines.

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