Net Consolidated Earnings Out: LIC, IRCTC, Sun Pharma Stocks In News

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Net Consolidated Earnings Out: LIC, IRCTC, Sun Pharma Stocks In News

| Updated: June 1, 2022 12:31

Many companies, including Ganesh Holdings and Mipco Seamless Rings, will release their March quarter net earnings on June 1, 2022. Meanwhile, some behemoth stocks have already made headlines. Among them are Life Insurance Corporation, IRCTC, and Sun Pharma.

LIC has reported a 17% plunge in consolidated net profit to ₹2,409 crores for the fourth quarter. The last quarter of the previous fiscal year terminated in March 2022. On the contrary, the company gained ₹2,917 crores in the same quarter in 2021. 

The pharma behemoth, Sun Pharmaceutical Industries, released ₹2,277 crores as its consolidated net loss. While the drug-making company incurred a ₹894 crores as profit in the fourth quarter of March 2020-21. However, the company had to go through a heavy loss in 2022. 

IRCTC recorded a net profit of ₹213.78 crores, 106% more than the ₹103.78 crores revenue generated in 2021. However, things did not change much for the global auto parts manufacturer, Varroc Engineering. They incurred a net loss of ₹284.96 crores in the last quarter. It is similar to the net loss of ₹144.32 crores in FY21. 

Another pharmaceutical, Aurobindo, witnessed a 28% decrease in net profit of ₹576.14 crores. Earlier, they had a gain of ₹801.18 crores in the same period of the preceding fiscal. Wockhardt, another pharmaceutical company, reported an increase in a net loss to ₹311 crores. 

Furthermore, the liquor maker, Radico Khaitan, announced a consolidated net profit of ₹50.15 crores for the fourth quarter of March 2002. In the world of sports, Campus Activewear reported a percent growth of ₹39.60 crores, driven by operating income, topline, and lower tax cost, in the same period. 

Other firms like Kamdhenu, LT Foods, Veranda Learning Solutions, and Jain Irrigation reported a profit for the last quarter in March 2022. On the other hand, Dish TV, Omaxe, Natco Pharma, Gayatri Projects, and PC Jewellers incurred a loss. 

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