Stocks to Watch on January 24: Indus Towers, HPCL, Dr Reddy’s, Mphasis and more

Dr Reddy’s Laboratories | Pharmaceutical major reported a 2.5% year-on-year (YoY) increase in net profit at ₹1,413.3 crore for the third quarter that ended on December 31, 2024, missing estimates. In the corresponding quarter of the previous fiscal, Dr Reddy’s Laboratories posted a net profit of ₹1,379 crore. The CNBC-TV18 poll had predicted a profit of ₹1,501.4 crore for the quarter under review.

Mphasis | Software services company posted a net profit of ₹427.8 crore, up 1% from ₹423.3 crore in the previous quarter. Quarterly revenue grew 0.7% to ₹3,561.3 crore, compared with ₹3,536.1 crore in the September quarter. The company’s earnings before interest and tax (EBIT) stood at ₹545.5 crore, up 0.2% from ₹544.2 crore in Q2 FY25. Despite the modest revenue and profit growth, Mphasis saw a slight dip in its operating margin, which came in at 15.3% compared to 15.4% in the prior quarter.

United Spirits | Diageo-controlled liquor maker reported a 4.3% year-on-year (YoY) fall in net profit at ₹335 crore for the third quarter that ended on December 31, 2024. In the corresponding quarter of the previous fiscal, United Spirits posted a net profit of ₹350.2 crore. The CNBC-TV18 poll had predicted a profit of ₹405 crore for the quarter under review. The company’s consolidated revenue from operations in the quarter under review was ₹7,732 crore against ₹ 6,962 crore in the year-ago period.

Nippon Life India | The company reported an 11.8% rise in net profit at ₹296 crore against ₹264.7 crore in the year-ago period. The revenue for the period under review came at ₹545.4 crore, up 39% from ₹392.3 crore in the corresponding period a year ago. Earnings before interest, tax, depreciation, and amortisation rose 48.8% to ₹377.6 crore against ₹253.8 crore in the preceding year. Margin witnessed an upturn, rising to 69.2% from 64.7% in the December quarter of the previous fiscal.

Adani Green Energy | The company’s Q3 consolidated net profit surged by more than 85% to ₹474 crore compared to ₹256 crore in the same period last year. The pure-play renewable firm from billionaire Gautam Adani-led Adani Group’s revenue from operations also saw an increase of 2.3% to ₹2,365 crore in Q3FY25 compared to ₹2,311 crore in the year-ago period. The earnings before interest, taxes, depreciation, and amortization (EBITDA), however, dropped 4% to ₹1,601 crore compared to ₹1,666 crore in the previous year.

Mankind Pharma | Pharmaceutical firm reported a 16.2% year-on-year (YoY) drop in net profit at ₹380.2 crore for the third quarter that ended December 31, 2024, against ₹453.8 crore in the year-ago quarter. The company’s revenue from operations increased 24% to ₹3,230 crore compared to ₹2,607 crore in the corresponding period of the preceding fiscal. EBITDA surged 36.8% to ₹830 crore in the third quarter of this fiscal over ₹606.5 crore in Q3 FY24.

Spandana Sphoorty | Microfinance firm reported a net loss of ₹393.9 crore for the third quarter that ended December 31, 2024. In the corresponding quarter of the previous fiscal, Spandana Sphoorty Financial had posted a net profit of ₹127 crore. The company’s assets under management (AUM) stood at ₹8,936 crore, representing a 14% year-on-year (YoY) decline from ₹10,404 crore in Q3 FY24.

Greaves Cotton | Diversified engineering company’s net profit surged 64% year-on-year (YoY) to ₹20.8 crore from ₹12.7 crore in the same period last year, highlighting a strong performance for the quarter ended December 2024. Revenue for the quarter rose by 12.8% YoY, reaching ₹750.6 crore, compared to ₹665.4 crore in the corresponding quarter of the previous fiscal year.

Suryoday Small Finance Bank | Suryoday Small Finance Bank (SFB) posted a 41.8% decline in net profit for Q3 FY25. The profit stood at ₹33.3 crore, down from ₹57.2 crore in the same period last year. Despite the drop in net profit, the bank achieved a 9.2% growth in net interest income (NII). NII rose to ₹268.3 crore compared to ₹245.7 crore year-on-year (YoY). However, the bank’s asset quality weakened during the quarter. Gross non-performing assets (NPAs) climbed to 5.53%, up from 3.03% in the previous quarter (QoQ).

Indian Energy Exchange | The company reported a 17% year-on-year (YoY) growth in net profit at ₹107.3 crore for the third quarter that ended December 31, 2024, against ₹91.8 crore in the year-ago quarter. The company’s revenue from operations increased 14.5% to ₹132 crore against ₹115.3 crore in the corresponding period of the preceding fiscal. The company’s revenue from operations increased 14.5% to ₹132 crore against ₹115.3 crore in the corresponding period of the preceding fiscal.

KFin Technologies | Tech-driven financial services firm reported a 34.9% year-on-year (YoY) surge in net profit at ₹90 crore for the third quarter that ended December 31, 2024. In the corresponding quarter of the previous fiscal, KFin Technologies posted a net profit of ₹66.8 crore, the company said in a regulatory filing. The company’s revenue from operations increased 32.6% to ₹290 crore against ₹218.7 crore in the same quarter last fiscal.

Ujjivan Small Finance Bank | Bengaluru-based lender reported a 63.8% year-on-year (YoY) decline in net profit at ₹108.6 crore for the third quarter that ended December 31, 2024, against ₹300 crore in the same period last year. Net interest income (NII), which is the difference between the interest income a bank earns from its lending activities and the interest it pays to depositors, increased by 3.2%, coming at ₹886.7 crore against ₹859.3 crore in the corresponding quarter of FY24.

Cyient | Technology services firm reported revenue of ₹1,480 crore for its DET (digital, engineering, and technology) segment, a 2.1% quarter-on-quarter (QoQ) increase, though a 0.8% decline year-on-year (YoY). DET EBIT stood at ₹200 crore with a margin of 13.5%. Profit after tax (PAT) for the DET segment reached ₹124 crore, marking a 28.3% YoY decline. Order intake for the October-December quarter hit an all-time high of $312.3 million, with nearly 100% QoQ growth and a 5% increase YoY.

Sona BLW | Auto component maker reported a 13.8% year-on-year (YoY) growth in net profit at ₹151 crore for the third quarter that ended December 31, 2024. The company posted a net profit of ₹132.7 crore in the year-ago quarter. Revenue from operations increased 11% to ₹868 crore against ₹781.7 crore in the corresponding period of the preceding fiscal. At the operating level, EBITDA was up 0.7% to ₹234.2 crore in the third quarter of this fiscal over ₹232.5 crore in Q3 FY24.

Amber Enterprises | Consumer electronics company reported a net profit of ₹37 crore for the third quarter that ended on December 31, 2024. In the corresponding quarter of the previous fiscal, Amber Enterprises India posted a net loss of ₹0.5 crore. The CNBC-TV18 poll had predicted a profit of ₹23 crore for the quarter under review. The company’s revenue from operations jumped 64.8% to ₹2,133.3 crore against ₹1,295 crore in the year-ago period. The CNBC-TV18 poll had predicted revenue of ₹1,722 crore for the quarter under review.

Bondada Engineering | The company announced the signing of a Memorandum of Understanding (MoU) to establish a 100 MW Hybrid renewable energy plant in Assam, under the UNNATI Scheme. The initiative involves an investment of ₹450 crore. The MoU was exchanged by the company’s Chairman and Managing Director, Dr Bondada Raghavendra Rao, with Assam’s Minister of Education, Welfare of Plain Tribe & Backward Classes, Ranoj Pegu, during the Advantage Assam 2.0 Summit 2025 held in Hyderabad.

Akums Drugs and Pharmaceuticals | The Pharmaceutical company announced that the Income Tax (I-T) Department conducted a search and survey operation at its offices, manufacturing units, and the residences of its managing directors and chief financial officer. The I-T Department’s search operation took place between January 15-21, 2025. During this period, the I-T officials sought various clarifications and details from the company, to which Akums Drugs extended full cooperation.