Vodafone Idea, Hindustan Zinc, RIL, SAIL, Zee, Emami are in Focus

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Major benchmarks are likely to start Friday’s trading session on a calm note amid mixed global cues. At 7:30 am, SGX Nifty June futures were quoted at 18,415, suggesting the Nifty 50 opened flat.

SAIL: The steel giant’s consolidated net profit plunged 53.2% to Rs 1,159.21 crore in the quarter that ended March 2023, from Rs 2,478.82 crore a year earlier. Total revenue also fell 5.6% year-on-year to Rs 29,416.39 crore.

Hindustan Zinc: Billionaire Anil Agarwal’s Vedanta has pledged its entire 64.9% stake in Hindustan Zinc for fundraising. Vedanta’s London-based parent company, Vedanta Resources, has repaid all its loans and bonds due in April this year in the past month, helped by a huge dividend from its Indian subsidiary.

Vodafone Idea: Vodafone Idea reported a consolidated net loss of Rs 6,418 crore in Q4FY23 due to higher operating expenses. In the same period last year, the company posted a net loss of Rs 6,563 crore. Total revenue rose 2.8% YoY to Rs 10,531 crore.

Reliance Industries (RIL): Global investment manager Bernstein pegged the enterprise value of RIL’s 85% stake in Reliance Retail at $111 billion, while the Mukesh Ambani-led firm holds telecom and digital platform subsidiary Reliance Jio. The 66.5% stake is valued at $88 billion.

Zee Entertainment: The company posted its first quarterly loss in three years on Thursday as advertisers tightened marketing budgets and expenses soared. Zee posted a consolidated net loss of Rs 196.03 crore in Q4FY23, compared to a net profit of Rs 181.93 crore in the same period last year. Total revenue fell 9.9% year-on-year to Rs 2,126.35 crore.

Zee Learn: The company’s consolidated net loss widened to Rs 297.62 crore in Q4FY23 from a net loss of Rs 5.06 crore in Q4FY22. However, total revenue rose 30.3% YoY to Rs 119.41 crore.

Oil India: The public sector oil marketing company is in talks with other stakeholders about a possible 50% stake in Tullow Oil’s $3.4 billion oilfield project in Kenya, chairman and managing director Ranjit Rath said on Thursday.

Emami: The FMCG company posted a 59.4% year-on-year fall in consolidated net profit to Rs 144.43 crore in the fourth quarter of FY23, compared to Rs 355.96 crore a year earlier. Operating income rose 8.8% year-on-year to Rs 835.95 crore.

Gokaldas Exports: The company reported a net profit of Rs 47.19 crore in Q4FY23, down 22.5% from Rs 60.91 crore in Q4FY22. Total revenue fell 9.8% year-on-year to Rs 530.12 crore.

Aster DM Healthcare: The company’s net profit fell 17.5% to Rs 51.87 crore in Q4FY23 compared to Rs 62.87 crore in Q4FY22. However, total revenue rose 27.9% YoY to Rs 441.69 crore.

Balmer Lawrie: The company’s consolidated net profit fell 6.6% to Rs 43.3 crore in Q4FY23 from Rs 46.36 crore in Q4FY22. However, total revenue rose 5.8% year-on-year to Rs 625.21 crore.

Mazda: The company posted a net profit of Rs 10.63 crore in Q4FY23, up 35.4% from Rs 7.85 crore in Q4FY22. Total revenue rose 25.8% year-on-year to Rs 67.52 crore.

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