Q1 Snippets: LIC’s Profit Soars 23,127% YoY, ONGC’s 772%, Hero Moto & More

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Q1 Snippets: LIC’s Profit Soars 23,127% YoY, ONGC’s 772%, Hero Moto & More
Credit: © Reuters.

By Malvika Gurung

Investing.com -- Life Insurance Corporation (NS: LIFI ): The insurance behemoth’s net profit soared a breathtaking 23,127.2% YoY to Rs 682.9 crore in Q1 FY23, while total premium income climbed 20.35% YoY to Rs 98,351.8 crore.

ONGC (NS: ONGC ): The Maharatna PSU’s net profit skyrocketed 772.2% YoY to Rs 4,335 crore in the June quarter, as oil prices more than doubled in the period, compensating for an almost 5% decline in production at 5.4 MT.

Hero Motocorp (NS: HROM ): The two-wheeler manufacturer’s net profit jumped 71% YoY to Rs 625 crore in Q1 and revenue from operations surged 53% YoY to Rs 8,393 crore, while EBITDA zoomed 83% YoY in the period.

Apollo Tyres (NS: APLO ): The tyre maker’s consolidated net profit surged 49.2% YoY to Rs 190.7 crore, while total expenses climbed 28% YoY to Rs 5,714.2 crore in the June quarter.

Grasim Industries (NS: GRAS ): The cement manufacturer’s consolidated PAT rose 16% YoY to Rs 1,933 crore and revenue surged 41% YoY while reporting its highest-ever consolidated EBITDA at Rs 5,233 crore, advancing 10% YoY in Q1 FY23.

Indiabulls Real Estate (NS: INRL ): The company’s net debt fell by 54% to Rs 464 crore in Q1 FY23, compared to Rs 1,005 crore as of March 31, 2022, while gross debt declined 44% QoQ to Rs 464 crore in the June quarter.

Zee Entertainment (NS: ZEE ) Enterprises: The media company’s net profit tanked 49% YoY to Rs 106.6 crore in Q1 FY23, on unenthusiastic operating performance and tepid revenue growth amid challenging macroeconomic conditions.

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