Stock Picks: InterGlobe Aviation, Sun Pharma, Star Health, and Sterlite Technologies among companies that saw profits in Q4 2023
As the March quarter draws to a close, most companies have released their financial results, and market experts are reviewing and providing their opinions on the stocks. Many companies have shown profits in the March quarter, compared to last year’s losses. Today, we present some of these profitable companies that are not only showing profits but also have the trust of brokerage houses. If you are looking for some stocks to add to your review list, these companies can be considered for investment.
InterGlobe Aviation
InterGlobe Aviation, which owns and operates the IndiGo airline, has reported a profit of Rs 208 crore in Q4 2023, compared to a loss of Rs 1,147 crore in the same period last year. The company’s revenue from operations increased by 40.9% YoY to Rs 8,299 crore. The airline’s performance was driven by a 23.5% YoY increase in passenger traffic and a 13.2% YoY increase in capacity.
Sun Pharma
Sun Pharma, India’s largest pharmaceutical company, reported a net profit of Rs 1,444.17 crore in Q4 2023, compared to a loss of Rs 1,655.60 crore in the same period last year. The company’s revenue from operations increased by 9.5% YoY to Rs 9,154.85 crore. Sun Pharma’s performance was driven by strong growth in its specialty business, which grew by 25% YoY.
Star Health Insurance
Star Health Insurance, India’s largest standalone health insurance company, reported a net profit of Rs 102 crore in Q4 2023, compared to a loss of Rs 82 crore in the same period last year. The company’s gross written premium increased by 32.5% YoY to Rs 2,961 crore. Star Health’s performance was driven by a strong growth in its retail health insurance business, which grew by 38% YoY.
Sterlite Technologies
Sterlite Technologies, a global leader in end-to-end data network solutions, reported a net profit of Rs 65 crore in Q4 2023, compared to a loss of Rs 22 crore in the same period last year. The company’s revenue from operations increased by 24.4% YoY to Rs 1,456 crore. Sterlite Technologies’ performance was driven by strong growth in its optical fiber business, which grew by 27% YoY.
These companies have shown profitability in the March quarter, and brokerage houses have recommended investing in them. If you are looking for some stocks to add to your portfolio, you can consider these companies for investment.
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