Now Reading: Tata Motors CV Q1 profit jumps 83%; Apollo, Lenskart also strong
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Tata Motors CV Q1 profit jumps 83%; Apollo, Lenskart also strong
Tata Motors CV Q1 profit jumps 83%; Apollo, Lenskart also strong
Tata Motors Commercial Vehicles reported an 83% year-on-year rise in consolidated net profit to Rs 2,560 crore for the June quarter, with revenue up 19% to Rs 20,667 crore, driven by higher…
The Story in Brief
Tata Motors Commercial Vehicles reported an 83% year-on-year rise in consolidated net profit to Rs 2,560 crore for the June quarter, with revenue up 19% to Rs 20,667 crore, driven by higher CV volumes and EV growth. Apollo Hospitals posted a 38.4% profit jump to Rs 610 crore on revenue of Rs 7,043 crore. Lenskart Solutions saw net profit surge 269% to Rs 221.8 crore. Other notable results: Grasim Industries profit rose 39%, HAL profit up 15%, and Eureka Forbes profit up 44%. However, Petronet LNG profit fell 15% and IRCTC profit slipped 0.2%. The Sensex closed 188 points lower at 77,966.
The Q1 earnings season showed mixed signals. While several firms reported double-digit profit growth, the overall market ended in the red, and some companies faced headwinds. The data comes amid broader concerns about economic momentum.
The Indian Opinion
The earnings headlines scream recovery, but a closer look shows a patchwork. Tata Motors' CV profit was boosted by a mark-to-market gain on Tata Capital, not just operations. Lenskart's 269% profit jump is impressive, yet it comes on a lower base. Meanwhile, Petronet LNG and IRCTC slid. The narrative of a uniform corporate revival is exaggerated. The real test will come when the next batch of results from consumer goods and banking sectors arrives, do they show broad demand or just pockets of strength?
Sources (2): thehindubusinessline.com, businesstoday.in
This story was synthesised by AI from the 2 sources linked above.
Updated: this story now draws on 2 sources.
