The stock market closed with mild losses on Monday July 22 ahead of the Union Budget 2024. The Nifty 50 ended at 24,509.25 down 0.09% while the Sensex closed at 80,502.08 down 0.13%. Despite caution around the budget mid and small-cap segments saw healthy gains.
Nifty 50 Index Daily Chart: Tradingview
The day trading range for the Sensex was 80,100.65 to 80,800.92. So far in Q1 FY24-25, 232 out of 4400 companies have reported earnings showing an 11.02% year-on-year revenue growth but only a 0.17% increase in net profit.
Lets look at some of the top stocks earnings reports so far.
HDFC Bank (Rs. 1642.55, +2.19%)
Revenue surged 59% year-on-year to Rs. 81,546 crore while gross profit increased by 30% to Rs. 25,870 crore. Net profit showed growth of 38% reaching Rs. 17,188 crore.
Reliance (Rs. 3001.35, -3.50%)
Reliance saw moderate growth in Q1 FY24-25. Revenue increased by 11% to Rs. 231,784 crore compared to the same period last year. However both gross profit and net profit declined by 4%, with figures of Rs. 25,169 crore and Rs. 17,448 crore respectively.
Wipro (Rs. 505.80, -9.22%)
Revenue declined 3% year-on-year to Rs. 21,964 crore. Despite this the company managed to improve its bottom line with gross profit increasing by 4% to Rs. 3,625 crore and net profit growing 5% to Rs. 3,041 crore suggesting effective cost management.
JSW Steel (Rs. 888.55, -0.10%)
While revenue grew marginally by 1% to Rs. 42,943 crore, gross profit fell sharply by 35% to Rs. 3,301 crore. Net profit saw an even steeper decline of 64% dropping to Rs. 879 crore indicating pressure on margins.
JSW Energy (Rs. 709.80, +0.68%)
Revenue decreased slightly by 1% to Rs. 2,879 crore. However the company improved profitability with gross profit rising 26% to Rs. 1,042 crore and net profit surging 84% to Rs. 530 crore.
Bajaj Auto (Rs. 9,409.70, +0.25%)
Bajaj Auto delivered strong performance in Q1 FY24-25. Revenue grew by 15% to Rs. 11,932 crore while gross profit increased by 23% to Rs. 2,275 crore. Net profit also saw healthy growth of 18%, reaching Rs. 1,942 crore.
TCS (Rs. 4,287.35, -0.35%)
TCS reported steady growth in Q1 FY24-25. Revenue increased by 5% to Rs. 62,613 crore while gross profit rose by 12% to Rs. 15,442 crore. Net profit grew by 8% to Rs. 12,105 crore showcasing the company consistent performance.
Tata Communications (Rs. 1,785.70, -0.15%)
Tata Communications saw strong top-line growth but faced profitability challenges. Revenue increased by 18% to Rs. 5,633 crore and gross profit grew by 7% to Rs. 477 crore. However net profit declined by 11% to Rs. 330 crore.
Tata Technologies (Rs. 992.70, -0.45%)
Tata Technologies reported growth across all metrics. Revenue increased by 11% to Rs. 721 crore while gross profit grew by 6% to Rs. 110 crore. Most notably net profit surged by 500% to Rs. 480 crore indicating an improvement in operational efficiency.
Shakti Pumps (Rs. 4,096.25, +5.00%)
Shakti Pumps delivered exceptional results in Q1 FY24-25 and is currently the best performer. Revenue skyrocketed by 402% to Rs. 568 crore. Gross profit saw an increase of 4,266% to Rs. 131 crore. Net profit growth was even more impressive at 9,200% reaching Rs. 93 crore marking a transformative quarter for the company.
