Stocks to watch on July 22: JSW Energy, MRPL, RIL, HDFC Bank, Wipro and more

RIL: Reliance Industries Ltd on Friday reported a 5% drop in its June quarter net profit, hurt by weak refining margins and fuel cracks as well as higher depreciation cost. The consolidated net profit of ₹15,138 crore, or ₹22.37 per share, in April-June was compared to ₹16,011 crore, or ₹23.66 a share, in the year-ago period, PTI reported. Sequentially, profit fell 20% when compared to ₹18,951 crore earnings in the January-March quarter.

HDFC Bank: India's largest private sector lender on Saturday reported a consolidated net profit of ₹16,474.85 crore, up 33.17% for the June 2024 quarter. The bank had posted a post-tax net profit of ₹12,370 crore on a consolidated basis in the year-ago period. On a standalone level, its June quarter net profit rose to ₹16,174 crore from ₹11,951 crore in the year-ago period but was down from the preceding March quarter’s ₹16,511 crore.

Wipro: The IT major on Friday posted a 4.6% year-on-year rise in its consolidated net profit for the June quarter at ₹3,003.2 crore. The Q1 FY25 revenue of the Bengaluru-headquartered firm; however, fell 3.8% to ₹21,963.8 crore.

Earnings today: The next set of companies that are slated to release their June quarter numbers today are IDBI Bank, MRPL, Suzlon Energy, Coforge, Zensar Tech, among others.

YES Bank: The private sector lender on Saturday reported a 46.7% growth in net profit to ₹502 crore for the June 2024 quarter, helped by a reduction in provisions. The city-headquartered bank's core net interest income rose 12.2% to ₹2,000 crore. Its net interest margin stayed flat at 2.4%. The deposits, on which a good part of the system is struggling, were up by over 20%.

Kotak Mahindra Bank on Saturday reported a 2% rise in net profit to ₹3,520 crore on standalone basis for the first quarter ended June 2024. The private sector lender had posted a net profit of ₹3,452 crore in the same quarter of the previous fiscal year. Total income during the period grew to ₹15,675 crore as against ₹13,183 crore in the year-ago quarter, Kotak Mahindra Bank said in a regulatory filing.

JSW Energy: JSW Energy on Friday posted an 80% jump in its net profit at ₹522 crore in the April-June quarter, mainly due to higher profitability in thermal business and incremental contributions from renewables.

JSW Steel on Friday posted a 64% fall in consolidated net profit at ₹867 crore for the quarter ended June 30, 2024 on lower income and higher expenses. It had reported ₹2,428 crore net profit in the year-ago period, the company said in an exchange filing.

Patanjali Foods: Patanjali Foods Ltd, which is into edible oils and FMCG segments, on Friday reported a three-fold jump in its standalone net profit to ₹262.90 crore for the first quarter of this fiscal year despite lower income. Its net profit stood at ₹87.75 crore in the year-ago period. Total income, however, dropped to ₹7,202.35 crore in the April-June quarter of this fiscal from ₹7,810.50 crore in the corresponding period of the previous year.