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CORPORATE AND ECONOMY NEWS

* Tata Motors Q1FY24 Results (Consolidated, YoY): Revenues up 42% at Rs 1,02,236 crore vs. Rs 71,935 crore, Ebidta up 448% at Rs 13,218 crore vs. Rs 2,413 crore, Ebidta margins at 12.9% vs. 3.4% and Net profit at Rs 3,203 cr vs. Net loss of Rs 5,007 cr.

* Amber Enterprises Q1 FY2024 (Consolidated, YoY): Revenues down 7% at Rs 1,701.99 crore vs. Rs 1,825.73 crore, Net profit up 9% at Rs 46.61 crore vs. Rs 42.89 crore, Ebitda up 33% at Rs 131.92 crore vs. Rs 99.24 crore and Ebitda margin at 7.8% vs. 5.4%.

* CEAT Q1FY2024 (Consolidated, YoY): Revenues up 4% at Rs 2,935.17 crore vs. Rs 2,818.38 crore, Net profit at Rs 144.01 crore vs. Rs 8.68 crore, Ebitda at Rs 387.10 crore vs. Rs 165.26 crore and Ebitda margin at 13.2% vs. 5.9%.

* Dixon Technologies Q1FY2024 (Consolidated, YoY): Revenues up 15% to Rs 3,271.50 crore vs. Rs 2,855.07 crore, Net profit up 48% to Rs 67.19 crore vs. Rs 45.43 crore, Ebitda up 32% at Rs 131.87 crore vs. Rs 100.12 crore and Ebitda margin at 4% vs. 3.5%.

* SBI Life Insurance Q1FY24 (Consolidated, YoY): Revenue up 497% at Rs 27,692 crore vs. Rs 4,641 crore, Net profit up 45% to Rs 381 crore vs. Rs 263 crore, VNB down 1% at Rs 870 crore vs. Rs 880 crore and VNB margin at 28.8% vs. 30.4%.

* Prudent Corporate Advisory Services: The Company’s revenue from operations grew 29 percent YoY to Rs. 165.4 crores, led by 22 percent growth in quarterly average assets under management (AUM) in the mutual fund vertical coupled with doubling of insurance revenues.

* UTI Asset Management Company Q1FY2024 (Standalone, YoY): Revenue up at Rs 7.9 crore vs. Rs 1.98 crore, Net interest income of Rs 5.4 crore vs. net interest expense at Rs 30 lakh and Net profit up 66% at Rs 164.5 crore vs. Rs 99.08 crore.

* Delta Corp. Q1FY2024 (Consolidated, YoY): Revenues up 9% at Rs 272.80 crore vs. Rs 250.27 crore, Net profit up 19% at Rs 67.91 crore vs. Rs 57.13 crore, Ebitda at Rs 95.82 crore vs. Rs 87.5 crore and Ebitda margin at 35.1% vs. 35%.

* Cyient Q1FY2024 (Standalone, QoQ): Revenue down 3.7% to Rs 1,686.5 crore vs. Rs 1,751.4 crore, Net profit up 3.6% at Rs 169.1 crore vs. Rs 163.2 crore, EBIT at Rs 248 crore vs. Rs 249.4 crore and EBIT margin 14.7% vs. 14.2%.

* Larsen & Toubro: Larsen & Toubro will be in focus as it would buy back 33.3 million equity shares of a face value of Rs 2 each, at a maximum price of Rs 3,000 per equity share. This represents 2.4% of its paid- up capital.

* Tata Motors DVR: Tata Motors' Board of Directors approved a Scheme of Arrangement for cancellation of Tata Motors DVR, and issue of 7 Ordinary Shares for every 10 Tata Motors DVR held by shareholders. The Tata Motors DVR carry 1/10th of voting rights of ordinary shares and are entitled to five percentage point’s higher dividend. They are listed as Tata Motors DVR on BSE and NSE. After the conversion, it will be delisted from exchanges.

* IRCTC: The company is running two Bharat Gaurav tourist trains to cover Ram Katha at the Jyotirlingas across India. The journey spans approximately 11,000 kilometers, covering 8 states, and takes devotees to visit the revered 12 Jyotirlinga temples, three sacred Dhams, and the Tirupati Balaji temple.

* Greaves Cotton: Ampere, the electric two-wheeler brand of Greaves Electric Mobility Private Limited, has entered into a collabaration with Readily Mobility, a leader in the vehicle assistance industry, bringing fullstack after-sales and service support for its B2B fleet customers. Under this agreement, Readily Mobility will cater to Ampere's fleet of vehicles, to ensure smooth operations, minimal downtime, and maximum business efficiency for Ampere’s fleet customers.

* Can Fin Homes: The Company reported a fraud of Rs 38.53 crore committed by employees at its Ambala branch. The fraud involved transfer of funds to different personal bank accounts by misusing the cheque signing authority. The company has lodged an FIR and said it estimates no impact on assets/asset quality

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