Swiggy, Sula Vineyards, Kansai Nerolac, Gujarat Gas Shares React Post Q3 Results
While Cummins India Ltd. shares rose after they posted a rise in profit in the December quarter, Welspun Corp. was trading in the red.
Shares of Swiggy Ltd., Sula Vineyards Ltd., Kansai Nerolac Ltd. and Gujarat Gas Ltd. were in focus on Thursday, after the companies announced their third quarter results.
Swiggy opened in the red after it's loss widened to Rs 799 crore in the quarter ended December. This was higher than the loss estimated at Rs 620 crore.
Sula Vineyards also fell nearly 5% after it reported a 34.7% decline in net profit to Rs 28.1 crore. This was also lower than Bloomberg's estimates of Rs 40 crore. Revenue was also down 0.4% at Rs 200 crore.
Gujarat Gas shares were also in the red after profit in the third quarter fell 28.42% to Rs 220.99 crore, in comparison to Rs 308.74 crore reported in the previous quarter. This was lower than Bloomberg's estimate of Rs 263 crore. On the other hand, revenue rose 9.72% to Rs 4,152.89 crore.
The shares of GE Vernova T&D India Ltd. were also trading lower on Thursday, despite its third quarter profit nearly tripling at Rs 143 crore and beating analyst expectations.
In contrast, Kansai Nerolac shares rose over 6% on Thursday after its profit rose over fourfold to Rs 681 crore. The jump was due to exceptional gains of Rs 629 crore due to sale of land parcel.
Reliance Power Ltd. shares opened in the green after it swung to profit of Rs 42 crore against loss of Rs 1,137 crore reported in the same period in the previous fiscal. Shares of VRL Logistics Ltd. also rose after it's net profit quadrupled to Rs 59.42 crore in the third quarter of this fiscal.
While Cummins India Ltd. shares rose after they posted a rise in profit in the December quarter, Welspun Corp. was trading in the red.
Redington Ltd. profit surged in the third quarter to Rs 400 crore, in comparison to Rs 341 crore reported in the same period in the last fiscal. The shares were in the green on the back of solid third quarter earnings.
Shares of Data Patterns, CMS Info Systems Ltd., Timken India Ltd., Innova Captab Ltd. and CCL Products Ltd. were trading in the red on Thursday.
Sagility Ltd., Skipper Ltd., Avalon Technologies Ltd., HG Infra Engineering Ltd., Jagran Prakashan Ltd. and Medi Assist Healthcare Services Ltd. were trading in the green after announcing their third quarter results.
