Five state-run companies, ONGC Ltd., Oil India Ltd., IRCON International Ltd., Rail Vikas Nigam Ltd. (RVNL) and NALCO, will be reacting to their respective quarterly results on Thursday, May 22. Their results were reported after market hours on Wednesday.
NALCO reported a strong quarter, even as the street had been expecting that from the company. Both Alumina and Aluminium segments did well for the company. Additionally, the Guinea Bauxite issue will keep the street optimistic on Alumina pricing.
NALCO's revenue increased by 47.2% from last year to ₹5,267 crore, while its Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) more than doubled, rising 151% to ₹2,830 crore.
ONGC's revenue was higher than expectations, but profit fell over 20% from the previous quarter, and missed expectations.
Its Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) was flat on a sequential basis, although higher than the CNBC-TV18 poll. ONGC's EBITDA received a boost from higher exploratory costs, which tripled from the December quarter to ₹4,173 crore from ₹1,467 crore earlier.
RVNL reported a drop in both its revenue and profitability during the March quarter. The company had mentioned at the end of the December quarter that it will achieve its full year revenue guidance of ₹21,000 crore.
However, it fell short of that figure, coming in at close to ₹19,800 crore for the full year. RVNL's margins remained flat for the March quarter.
Similar to RVNL, IRCON International also reported its results that saw revenue and profitability decline on a year-on-year basis. Unlike RVNL, its margins also narrowed by nearly 100 basis points from last year.
However, the company managed to meet its full-year revenue guidance, which it had projected to be between ₹10,000 crore and ₹11,000 crore. It also managed to meet its profit margin guidance, which it had warned at the end of the December quarter, that it will be 50 basis points lower than previous year's levels.
Lastly, Oil India reported results after market hours on Wednesday, where its profitability received a boost due to higher other income.
Other income during the quarter increased by 251% to ₹664 crore. On the other side, EBITDA fell 7%, while margins narrowed by nearly 500 basis points from the previous quarter.
(With Inputs From Nigel D'souza and Sudarshan Kumar).
NALCO reported a strong quarter, even as the street had been expecting that from the company. Both Alumina and Aluminium segments did well for the company. Additionally, the Guinea Bauxite issue will keep the street optimistic on Alumina pricing.
NALCO's revenue increased by 47.2% from last year to ₹5,267 crore, while its Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) more than doubled, rising 151% to ₹2,830 crore.
ONGC's revenue was higher than expectations, but profit fell over 20% from the previous quarter, and missed expectations.
Its Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) was flat on a sequential basis, although higher than the CNBC-TV18 poll. ONGC's EBITDA received a boost from higher exploratory costs, which tripled from the December quarter to ₹4,173 crore from ₹1,467 crore earlier.
RVNL reported a drop in both its revenue and profitability during the March quarter. The company had mentioned at the end of the December quarter that it will achieve its full year revenue guidance of ₹21,000 crore.
However, it fell short of that figure, coming in at close to ₹19,800 crore for the full year. RVNL's margins remained flat for the March quarter.
Similar to RVNL, IRCON International also reported its results that saw revenue and profitability decline on a year-on-year basis. Unlike RVNL, its margins also narrowed by nearly 100 basis points from last year.
However, the company managed to meet its full-year revenue guidance, which it had projected to be between ₹10,000 crore and ₹11,000 crore. It also managed to meet its profit margin guidance, which it had warned at the end of the December quarter, that it will be 50 basis points lower than previous year's levels.
Lastly, Oil India reported results after market hours on Wednesday, where its profitability received a boost due to higher other income.
Other income during the quarter increased by 251% to ₹664 crore. On the other side, EBITDA fell 7%, while margins narrowed by nearly 500 basis points from the previous quarter.
(With Inputs From Nigel D'souza and Sudarshan Kumar).
Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!