Market News
6 min read | Updated on February 07, 2025, 12:27 IST
SUMMARY
Share of the telecom giant Bharti Airtel soared over 5% on Friday as it reported multi fold jump in its consolidated net profit for December quarter
Shares of the State Bank of India was down 1.02% on BSE at ₹744.65 apiece. | Image: Shutterstock
The benchmark equity indices on Friday, February 7, were trading in negative, during the noon session. The indices opened negative but had soared to green after the Reserve Bank of India’s policy announcement. However, it gave up the gains shortly.
At 12:15 PM, the S&P BSE SENSEX was trading at 77,915.07, falling 143.09 points, or 0.18%, while the NSE's NIFTY50 index was at 23,575.05, down 28.30 points, or 0.12%.
Bharti Airtel on Thursday reported more than five-fold jump in consolidated net profit to ₹16,134.6 crore boosted by consolidation of the Indus Tower business and benefits of tariff hikes flowing into the quarter. The company had posted a consolidated profit of ₹2,876.4 crore in the year-ago period.
India's second-largest telecom company posted quarterly revenue from operations of ₹45,129.3 crore, about 19% higher than ₹37,899.5 crore it posted in the year-ago period.
During the intraday trade, the company was trading 5.18% higher on BSE at ₹1,703.45.
During the intraday trade, shares of the company was trading at ₹434 on BSE, falling 1.68% during the morning trade. However, on NSE, the scrip was down 1.54%.
ITC’s revenue from operations increased 9.05% to ₹20,349.96 crore during the reporting quarter as compared to ₹18,660.37 crore in the corresponding quarter of the previous fiscal year.
Shares of the country's largest lender was down 1.02% on BSE at ₹744.65 apiece.
SBI had posted an 84.32% surge in its standalone profit after tax to ₹16,891.44 crore in the quarter ended December 2025. In the year-ago quarter, the net profit was ₹9,163.96 crore. Its net interest income (NII) increased 4% to ₹41,446 crore in the third quarter of the financial year 2024-25, compared to ₹39,815 crore in the corresponding period last fiscal.
The bank's total income advanced 8.69% to ₹1,28,467 crore in the December quarter of the current fiscal against ₹1,18,193 crore in the same period a year ago.
Shares of the company, during the intraday trade, was trading at ₹460.7 apiece on BSE, tumbling over 16.28%.
Sonata Software’s earnings before interest, taxes, depreciation and amortization (EBITDA) fell 7.8% QoQ to ₹163.6 crore, while the company’s cash and cash equivalents stood at ₹176 crore at the end of the quarter.
The cut is considered positive for real estate and infrastructure companies.
Shares of Jindal Steel and Power were at ₹841.40 a piece, rising 3.93%. Shares of Tata Power were trading 3.32% higher at ₹136.95 on BSE.
For the quarter under review, PG Electroplast reported an operating revenue of ₹967.69 crore—a growth of 81.9% YoY. Quarterly EBITDA stood at ₹92.37 crore versus ₹47.00 crore in the year-ago period, a growth of 96.5%.
The company's net profit stood at ₹40.14 crore against ₹19.24 crore registered in the year-ago period—a growth of 108.7%.
However, its net sales rose 8.64% to ₹1,147.64 crore during the reporting quarter from ₹1,056.40 crore in December 2023. Its EBITDA stood at ₹284.23 crore in December 2024 down 22.73% from ₹367.82 crore same period last fiscal year.
During the intraday trade, the company slipped 3.43% to ₹1362.95 apiece on BSE.
Shares of the company tumbled 11.07% on BSE during the intraday period to ₹211.20 apiece.
Hyderabad-based NCC also revised its revenue growth forecast for FY25 downward from 15% to 5%.
However, revenue increased 14.5% YoY to ₹714.9 crore, supported by a 3% rise in volumes. Its EBITDA fell 26% YoY to ₹55.5 crore. The EBITDA margin contracted sharply by 425 basis points to 7.8%.
During the intraday trade, the shares of Bikaji Foods tanked 11.24% to ₹650 apiece on BSE.
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