Tata Motors reported a consolidated net loss of Rs 8438 crore in Q1 June 2020, higher than net loss of Rs 3,698.34 crore in Q1 June 2019. Net sales in Q1 June 2020 stood at Rs 31,481.86 crore, falling 48% from Rs 60,830.16 posted in Q1 June 2019. The auto maker said that the nationwide lockdown resulted in the production and retailer shutdowns for major part of the quarter and heavily impacted the volumes. Negative operating leverage impacted the performance significantly. Maruti Suzuki India reported total sales of 108,064 units in July 2020, up 88.2% as against 57,428 units sold in June 2020. Annually, the total sales have fallen 1.1% from 109,264 units sold in July 2019. While total domestic sales rose 1.3% to 101,307 units, total exports sales have fallen 27% to 6,757 units in July 2020 over July 2019. Mahindra & Mahindra (M&M) reported 36% decline in total automobile sales to 25,678 units in July 2020 from 40,142 units in July 2019. Sequentially, the total auto sales have jumped 32.6% as compared to 19,358 units sold in June 2020. While total domestic sales declined 35% year-on-year (YoY) to 24,211 units, total exports fell 45% YoY to 1,467 units in July 2020. UPL's consolidated net profit surged 93.3% to Rs 551 crore in Q1 June 2020 compared with Rs 285 crore in Q1 June 2019. Consolidated revenue from operations stood at Rs 7833 crore in Q1 June 2020, declining 1% compared with Rs 7906 crore in Q1 June 2019. Tata Chemicals' reported a 67.2% drop in consolidated net profit to Rs 74.15 crore in Q1 June 2020 from Rs 226.33 crore posted in Q1 June 2019. Consolidated net sales for Q1 June 2020 stood at Rs 2,348.16 crore, falling 9% from Rs 2584.03 crore in Q1 June 2019. Bandhan Bank's promoters will reportedly sell up to 20.9% equity stake in the bank through block deal on August 3. Floor price for share sale in Bandhan Bank is set at Rs 311.10 per share. Dr. Lal PathLabs' consolidated net profit tanked 51.9% to Rs 28.40 crore on 20.6% decline in net sales to Rs 266 crore in Q1 June 2020 over Q1 June 2019. On a standalone basis, Vinati Organics' net profit fell 12.21% to Rs 72.29 crore on 21.74% decrease in revenue from operations to Rs 231.57 crore in Q1 June 2020 over Q1 June 2019. Due to lockdown in April 2020, financial numbers during the first quarter ended 30 June 2020 has been impacted. Deepak Fertilisers & Petrochemicals Corporation's consolidated net profit surged 1,032.10% to Rs 121.14 crore on 23.2% increase in net sales to Rs 1,382.08 crore in Q1 June 2020 over Q1 June 2019. Relaxo Footwears reported 51% decline in net profit to Rs 24 crore in Q1 June 2020 from Rs 50 crore in Q1 June 2019. Revenue from operations declined 44% on year-n-year (YoY) basis to Rs 364 crore during the quarter. The revenue was adversely affected due to complete nationwide lockdown till first week of May and significant disturbances during remaining period along with slowdown of economic activities. Powered by Capital Market - Live News |