LTM’s Profit Surges As Infra Giants Secure Major Projects Amid Robust Retail Earnings

LTM’s Profit Surges As Infra Giants Secure Major Projects Amid Robust Retail Earnings​

The market continues to focus intensely on corporate developments, quarterly results, and strategic wins across various sectors. From large-scale infrastructure contract allocations to strong consolidated financial growth in consumer goods, several companies are in the spotlight as they report updates and execute major deals.

Key Quarterly Performers Show Robust Growth​

LTM delivered a significant performance update for Q1 (Consolidated YoY), reporting profit growth of 17.05% to Rs 1,468.6 crore versus Rs 1,254.6 crore. Revenue jumped sharply by 17.96% reaching Rs 11,608 crore compared to Rs 9,840.6 crore for the previous period. The company's EBIT also zoomed 27.9%, growing to Rs 1,799.3 crore from Rs 1,406.5 crore.

Avenue Supermarts also reported a strong Q1 performance, with profit soaring by 11.3% to Rs 860.4 crore (up from Rs 772.8 crore). Revenue saw an increase of 14.9%, reaching Rs 18,794.5 crore compared to Rs 16,359.7 crore.

L&T Finance reported excellent Q1 growth, with profit zooming by 28.7% to reach Rs 902.5 crore from Rs 701.1 crore. Net interest income grew a remarkable 28.4%, reaching Rs 2,924.8 crore versus Rs 2,278.8 crore.

Infrastructure & Energy Players Secure Crucial Projects​

Power Grid Corporation of India has been declared the successful bidder for a significant project under the Tariff-Based Competitive Bidding (TBCB) process. This project involves establishing the inter-state transmission system for the Transmission System for Integration of Krishnagiri REZ Phase-I on a Build, Own, Operate and Transfer basis.

Powerica secured a key victory as the winning bidder in an e-reverse auction by Gujarat Urja Vikas Nigam (GUVNL). Powerica has successfully secured a 50 MW project from this process, with its discovered tariff standing at Rs 3.51 per unit, marking a 2.77 percent variation from the tender's starting tariff.

RITES received a substantial work order worth Rs 79.22 crore in a consortium. This contract is for consultancy services relating to the implementation of the Patna Metro Rail Construction Project awarded by Patna Metro Rail Corporation.

JSW Energy benefited immensely as its subsidiary, JSW Energy PSP Eleven (JEPEL), secured orders totaling Rs 443.74 crore. These orders are for Battery Energy Storage Systems (BESS) and power conversion system (PCS) solutions from Bondada Renewable Energy.

Major Corporate Shifts and Strategic Deals​

Sterlite Technologies announced a major victory in its European patent dispute against Fujikura. The Technical Board of Appeal of the European Patent Office issued a final ruling revoking Fujikura's European Patent EP 3796060, which resolves the UK patent dispute in favor of Sterlite Technologies.

Mankind Pharma approved the divestiture of its non-core asset, Broadway Hospitality Services. The company’s Board sanctioned the sale of its entire 100 percent stake to AKRK Projects LLP and Partners for Rs 49 crore.

In bulk deals, Sandeep Tandon's Quant Mutual Fund acquired a 2.6 percent stake in Ethos, purchasing 7 lakh shares from Jupiter Fund Management for Rs 175 crore at Rs 2,500 per share. BofA Securities Europe SA also purchased 81.82 lakh shares of Kalyan Jewellers India, representing a 0.79 percent stake for Rs 385.33 crore.

Companies Receiving Business Updates​

Keystone Realtors reported that pre-sales dropped by 42% to Rs 617 crore against Rs 1,068 crore in the previous period. Area sold fell sharply by 49% to 0.32 million sq ft compared to 0.63 million sq ft. Collections, however, saw a moderate increase of 4%, rising to Rs 599 crore from Rs 575 crore.

Swiggy received a prohibition order on July 6 from the Food Safety and Standards Authority of India (FSSAI) regarding its platform Toing. The company subsequently addressed all observations and obtained a modified FSSAI licence on July 9.

Adani Green Energy reported that operational capacity increased by 27% to 20,142 MW. Sales of energy rose 30% reaching 13,657 MU. NTPC also approved an investment proposal for the Lara Super Thermal Power Project Stage III (2x800 MW) at an estimated cost of Rs 20,456.70 crore.