The Muthoot Finance reported Robust Q4 results as Net profit soared to 17% as Rs.1056 cr and Revenue from operations came at 8% as Rs.3409 cr and Net interest income Rs.3358 cr. The CAGR Loan book is expected at 18% in FY25-27 from current CAGR 16% in this FY24-25.
MUTHOOTFIN Market price is moving in Ascending channel and market has reached higher high area of the channel
Shares of Muthoot Finance surged over 4 percent to Rs 1,745 apiece on May 31 after the company reported strong performance for the January-March quarter (Q4FY24), driven by robust loan demand and rising gold prices.
Analysts at CLSA shared an ‘underperform’ rating but raised their target price for Muthoot Finance to Rs 1,700 per share, citing a strong growth outlook. “The key driver for the Q4 beat was strong gold loan growth, which outpaced many banks. The management is optimistic about achieving 15 percent gold loan growth in FY25,” CLSA analysts wrote in a post-result review.
Similarly, Kotak Institutional Equities retained an ‘add’ rating on Muthoot Finance with a target price of Rs 1,850 per share. They believe that a significant rally in gold prices, up 15 percent in FY24, will help Muthoot Finance achieve high-teen loan growth in FY25.
We are forecasting about 18 percent earnings CAGR during FY25-27 due to a 16 percent loan book CAGR and margin expansion over the medium term, analysts noted.
Muthoot Finance reported a 17 percent year-on-year (YoY) increase in standalone net profit, reaching Rs 1,056 crore in Q4FY24 from Rs 903 crore in the same period last year. The rise in benchmark spot gold prices by 22 percent in the January-March period boosted loan growth for lenders like Muthoot.
The company’s revenue from operations rose 8 percent to Rs 3,409 crore in Q4FY24, up from Rs 3,168 crore in Q4FY23. Interest income grew around 20 percent year-on-year to Rs 3,358 crore.
Apollo Hospitals: Apollo Hospitals Up 3% on Strong Q4 Results
The Apollo Hospitals reported 77% profit as Rs.258 cr when compared to Rs.146 Cr in the past quarter. The EBITA came at Rs.11.70 cr from Loss of Rs.72.10 in the past quarter. Marging also expanded to 13.5% from 11.5% in the last quarter. Occupancy rate increased to 65% from 64% last quarter. Bed charge rose to 12% in this quarter. The Revenue from operations came at 15% rose to Rs.4944 cr in this quarter.
Apollo Hospitals Market price is moving in Ascending channel and market has fallen from the higher high area of the channel
Shares of Apollo Hospitals Enterprise climbed over 3 percent in trading on May 31 as investors celebrated the robust earnings performance of the hospital giant for the fourth quarter of fiscal year 2024 (FY24). The company showcased an impressive performance across key metrics, including revenue, profit and profitability.
In Q4FY24, the company’s net profit surged over 77 percent year-on-year to Rs 258 crore, up from Rs 146 crore recorded in the same quarter of the previous fiscal year. Notably, Apollo’s bottom line aligned closely with Moneycontrol’s estimated net profit of Rs 257 crore.
It’s noteworthy that Apollo’s net profit in the year-ago period was significantly impacted by substantial losses incurred from scaling up its online business division, Apollo HealthCo.
However, in the latest quarter, reduced losses in Apollo HealthCo not only contributed to the improvement in the company’s bottom line but also bolstered its operational performance. Apollo HealthCo achieved positive EBITDA (earnings before interest, taxes, depreciation, and amortization) in Q4 FY24, in line with management guidance earlier in the fiscal year. The segment reported an EBITDA of Rs 11.70 crore, compared to a loss of Rs 72.10 crore in the same period last year. Cost optimization measures and growth in operational revenue propelled Apollo HealthCo to break even on an EBITDA level.
Consequently, the company’s EBITDA margin expanded to 13 percent in the January-March period, up from 11.3 percent in the corresponding quarter of the previous year.
Revenue for the company also witnessed a significant uptick, increasing by 15 percent year-on-year to Rs 4,944 crore, compared to Rs 4,302 crore reported in the corresponding quarter of the previous year. Analysts surveyed by Moneycontrol had anticipated the company’s revenue to hover around Rs 4,927 crore.
Furthermore, Apollo’s hospital business reported an occupancy rate of 65 percent in Q4, up from 64 percent in the previous year, while Average Revenue Per Occupied Bed (ARPOBs) also saw a 12 percent year-on-year increase to Rs 59,523.
PAYTM: Paytm Hits 5% Upper Circuit for Third Straight Session; Records Rs 296.30 Crore Block Deal
The One 97 Communications shares surged 5% up after the Block deal happened for Rs.296.30 cr at the rate of Rs.391 per share, nearly 1.2% stake bought in this company. Some of the news media reported Adani Group owner Gautham Adani is doing deal with Paytm for acquisition. But Both of the companies denied such fake rumour prevailing in the news.
PAYTM is moving in Descending channel and market has reached lower high area of the channel
One97 Communications, the parent company of Paytm, saw its stock surge by 5 percent, hitting the upper circuit in the opening trade on May 31. This surge followed a block deal involving 75.20 lakh shares, equivalent to a 1.2 percent stake in the company, which occurred on the exchanges.
The block deal, executed at an average price of Rs 391 per share, amounted to a total of Rs 296.30 crore. This transaction took place at a premium of 3.6 percent compared to the stock’s previous closing price of Rs 377.40 per share. The parties involved in the transaction were not immediately identified by Moneycontrol.
Following the block deal, trading volumes in Paytm’s counter surged, with one crore shares changing hands on the exchanges. This represents a significant increase compared to the one-month average of 36 lakh shares traded.
The recent rally in Paytm’s stock follows reports suggesting that billionaire Gautam Adani may be considering acquiring a stake in One97 Communications. However, both Paytm and the Adani Group issued statements dismissing these reports as speculative. Paytm clarified that it is not engaged in any discussions regarding the matter, emphasizing its commitment to making disclosures in compliance with regulatory requirements. Similarly, the Adani Group refuted the media reports, labeling them as baseless speculations.
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