Titan highlights its resilience with a 63% surge in net profit, while Raymond and Oil India also report strong quarterly performances, as investors scrutinise corporate results from key players like PFC, Hitachi Energy, Kaynes Technology, and Ola Electric.
Titan, Raymond, Ola Electric, Hitachi Energy, Oil India, Power Finance Corporation and Kaynes Technology were among the shares set to draw attention on Monday after a busy set of post-market announcements on Friday and a stream of earnings updates, according to NDTV Profit. Titan’s June-quarter numbers stood out, with consolidated net profit rising 63% year on year to Rs 1,777 crore and revenue climbing 29% to Rs 21,356 crore, helped by a 30% jump in jewellery business revenue. NDTV Profit also said the jewellery division’s operating profit rose sharply, reinforcing the view that Titan remains a key market bellwether despite broader weakness in consumer spending in parts of the economy.
Raymond also remained in focus after a sharp change in its earnings profile following the separation of its lifestyle business. Business Standard reported that Raymond’s consolidated profit from continuing operations rose in the quarter ended June 2024, while revenue from continuing operations more than doubled, reflecting the effect of the demerger completed on June 30, 2024. NDTV Profit’s own data showed a strong rise in revenue and EBITDA for the latest quarter, even though net profit was heavily distorted by a large base effect from discontinued operations.
Oil India and Power Finance Corporation were also among the day’s key counters. NDTV Profit said Oil India posted a 72.9% rise in profit quarter on quarter, with revenue up 34.5% and EBITDA up 76.6%, while its standalone profit and operating profit also improved sharply. PFC, meanwhile, reported a 2.1% increase in consolidated net profit and said it would pay an interim dividend of Rs 3.90 a share, a signal that income-focused investors may watch closely.
Other names on the watchlist included Hitachi Energy, Kaynes Technology and Ola Electric. NDTV Profit reported that Hitachi Energy’s net profit rose to Rs 294 crore from Rs 132 crore a year earlier, with revenue up 68.6% and EBITDA more than doubling. Kaynes Technology posted 40.5% revenue growth year on year, although profit fell from the previous quarter. Ola Electric, by contrast, reported a narrower quarterly loss, but revenue dropped 45% from a year earlier, underscoring the pressure the electric two-wheeler maker still faces as it scales up.
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