Indian equity markets are likely to open gap-down on Tuesday amid weak global cues. Nifty futures traded 39.5 points, or 0.24%, lower at 16,607.50on the Singapore Exchange, signaling that Dalal Street was headed for a negative start. “Markets have regained some strength citing the less hawkish tone of the US Fed in the recently released meeting minutes. On the domestic front, the early onset of monsoon has further lifted sentiments. Going forward, with earnings season largely behind us, upcoming macroeconomic data i.e. GDP numbers and PMI data and auto sales will be in focus for cues. Amid all, we reiterate our positive view and suggest maintaining “buy on dips” till the Nifty holds 16,300,” 

IRCTC: Indian Railway Catering & Tourism Corporation (IRCTC) on Monday said its net profit for the quarter ended March was at Rs 213.78 crore, up 105.99% compared to Rs 103.78 crore in the same quarter last year. The railway ticket master said its revenue from operations came in at Rs 690.96 crore, up 103.95% from Rs 338.78 crore in the year-ago quarter. The company said its revenue from internet ticketing was at Rs 292.82 crore, compared to Rs 212.01 crore. From catering, its revenue jumped about four fold to Rs 266.19 crore against 67.38 crore in the same quarter year ago. Revenue from Rail Neer was at 51.88 crore, up from Rs 27.80 crore.

LIC: State-run insurance giant Life Insurance Corporation of India (LIC) reported a net profit of Rs 2,409 crore for the quarter ending March 2022, which was 17.41% lower as compared to Rs 2,917.33 crore reported in the year-ago period. The company’s net profit for the entire fiscal was reported as Rs 4,043.12 crore, which was 39.4% higher as compared to Rs 2,900.56 crore in FY21. The total revenue in Q4 FY22 came in at Rs 2,11,471 crore, which was 11.64% higher as compared to Rs 1,89,176 crore-revenue reported in the corresponding quarter last year. LIC, which recently opened up to India’s largest initial public offering (IPO), also announced a dividend of Rs 1.50 per equity share, a regulatory filing noted.

Campus Activewear: The fashion and athleisure footwear brand reported a 296% on-year growth in consolidated profit at Rs 39.60 crore in quarter ended March 2022, driven by operating income and topline, and lower tax cost. Revenue grew by 28% to Rs 352.3 crore during the same period.

Sun Pharma: Sun Pharmaceutical Industries on Monday said its consolidated net loss stood at Rs 2,277 crore for the fourth quarter ended March 2022, mainly on account of a one-time exceptional loss. The Mumbai-based drug major had reported a net profit of Rs 894 crore in the January-March period of 2020-21. Consolidated sales from operations stood at Rs 9,386 crore in the fourth quarter. The company had reported sales from operations at Rs 8,464 crore in the year-ago period.

Delhivery: The recently listed logistics tech company saw its revenue grow more than two-fold to Rs 2,072 crore in Q4 of FY22, compared to Rs 1,003 crore the year-ago period. Meanwhile, its net loss remained flat at Rs 120 crore in the March quarter, against Rs 118 crore in Q4 of FY21. The company’s annual financials showed that its net loss widened to Rs 1,011 crore in FY22 from Rs 415 crore in FY21. Its revenue increased 89 percent to Rs 6,882 crore in the same period. Delhivery’s employee benefits expenses, which include ESOP costs, rose 98% to Rs 341 crore in Q4. It expanded 115 percent to Rs 1,313 crore in FY22, compared to the previous fiscal.

JSPL: Jindal Steel and Power Ltd (JSPL) — one of the country’s largest steel-makers — reported a 65% drop in standalone net profit to Rs 1,198 crore for the quarter ended March 31, 2022. The net profit in the year-ago-period was Rs3,426 crore. Standalone gross revenues for the period under review stood at Rs 15,609 crore; up 33 per cent, y-o-y compared to Rs 11,744 crore in the year-ago period.