The markets ended flat today – for the second day.
The markets had opened lower today but recovered towards the end of the day to close more or less flat.
Q3 Results: Titan, Eicher Motors, Hindalco Industries, GAIL
Titan reported a standalone net profit of Rs 419 crores during the October to December quarter (Q3), which is an 11% decline from the same quarter last year.
The company’s revenue was up 17.4% to Rs 7,287 crores.
The jewelry business grew 16%, watches, and wearables business grew 88% and eyewear business grew 93%.
The share price of the company was up 0.21% to Rs 1,563.15 per share. The results were declared after markets closed.
The consolidated net profit of the company rose 6.8% to Rs 532.6 crores.
The company’s revenues rose 19.3% to Rs. 2,828.3 crore.
Royal Enfield sold 1.99 lakh motorcycles in the quarter, an increase of 5%.
The share price of the company was down 1.57% to Rs 2,901.3 per share.The results were declared around 45 minutes before the markets closed.
The company’s consolidated net profit was up 76.7% to Rs 1,877 crores.
Hindalco’s revenue from operations was up 19.7% to Rs 34,958 crores.
Novelis recorded its “best-ever quarterly adjusted EBITDA” of $501 million (vs $343 million), up 46% from the same quarter last year, on the back of higher volumes and improved margins said the company in an exchange filing.
Novelis (a US-based subsidiary), an aluminum company, is a subsidiary of Hindalco.
The share price of the company was up 0.49% to Rs 279.4 per share. The results were declared around 1.5 hours before the markets closed.
GAIL India’s standalone net profit was up 18.9% to Rs 1,487.3 crores.
The company’s revenue from operations fell 13% to Rs 15,456.8 crores.
The share price of the company was up 1.95% at Rs 133.6 per share. The results were declared after markets closed.
Price Cap on Air Fares To Be Lifted
The price band on domestic flights may be discontinued soon as flight services are reaching pre-Covid levels in the country, said Aviation Minister Hardeep Singh Puri.
He said in the Parliament today that the capping of airfares was an “extraordinary measure” due to the prevailing conditions.
The bands for flights are with durations of 40-60 minutes, 60-90 minutes, 90-120 minutes, 120-150 minutes, 150-180 minutes, and 180-210 minutes.
The lower and upper limits for these bands are: Rs 2,500-Rs 7,500; Rs 3,000-Rs 9,000; Rs 3,500-Rs 10,000; Rs 4,500-Rs 13,000; Rs 5,500-Rs 15,700 and Rs 6,500-Rs 18,600, respectively, the DGCA had said last year.