Reliance Industries | Beat on most counts during the September quarter led by stellar growth in the retail business. Retail reveune grew by 10.3% from June, while telecom business growth was stable. ARPU increased by 2.5% to Rs 181.7 for Jio. Subscriber addition for Jio was stronger than expected. Management expects to complete rollout of 5G services Pan-India by December 2023.

BPCL | Results better than estimates led by the refining segment. Marketing continues to remain weak. Revenue down 9% sequentially, while EBITDA is down 19%. EBITDA margin narrows by 60 basis points. Gross Refining Margin at 18.5% vs estimate of 16.5%.

Dr Reddy's Laboratories | USFDA issues form 483 with 10 observations for the manufacturing unit in Bachupally, Hyderabad. The regulator had conducted a cGMP inspection at the unit from October 19-27, 2023.

Indian Hotels | September quarter revenue up 16.3% to Rs 1,433.2 crore. EBITDA margin at 24.8% from 23.9%. International business turned out to be a drag on margins at just 8.4%. India business margin at 32%. Occupancy levels at 69% from 65% last year, while RevPAR up 17% to Rs 6,350.

AU Small Finance Bank | Announced the acquisition of Fincare Small Finance Bank subject to approval from shareholders, RBI and Competition Commission. AU Small Finance Bank will issue 579 shares of the bank for every 2,000 shares held by shareholders of Fincare, or one share of the bank for every 3.45 shares of Fincare. September quarter results saw asset quality deteriorate sequentially. Gross NPA stood at 1.91% from 1.76% earlier, while net NPA rose to 0.6% from 0.55% in June. Slippages also rose by 10.1% to Rs 349 crore from Rs 317 crore in June.

IDFC First Bank | Net profit up 35.2% year-on-year to Rs 751.3 crore, while Net Interest Income up 31.6% from last year to Rs 3,950.2 crore. Gross NPA at 2.11% from 2.17% in June, while Net NPA improves to 0.68% from 0.7% in June.

UltraTech Cement | Approves capex for third phase of growth. To spend Rs 13,000 crore to increase capacity by 21.9 MTPA. The expansion is likely to be commissioned in a phased manner from financial year 2026. The capex will be funded via internal accruals.

Bharat Electronics | Revenue of ₹3,993 crore lower than the CNBC-TV18 poll of ₹4,611 crore. Operating profit or EBITDA of ₹1,004 crore, in-line with estimates of ₹1,020 crore. EBITDA margin at 25.1%, higher than the poll of 22% led by higher other income and lower cost of material. Revenue growth guidance of 17% for financial year 2024, while EBITDA margin guidance of 21-23%.

Panacea Biotech | Arm launches Paclitaxel Protein-Bound particles for injectable suspension in the Canadian market. These particles are used in the treatment of Metastatic breast cancer, non-small cell lung cancer.

CDSL | Net profit up 35.6% from last year to ₹109 crore. Revenue up 39.2% from last year to ₹207.3 crore. EBITDA up 56%, while EBITDA margin at 66.5% from 59.3%.