A 35 per cent year-on-year decline in JLR global wholesales to 89,148 units soured investor mood. Late last week, JLR had said that it continues to face chip shortages, which are expected to continue through the next fiscal.
“Underlying demand for Jaguar Land Rover products remains strong with record orders in the quarter.”
Overall, however, Tata Motors Group’s global wholesales in Q4FY22, including Jaguar Land Rover, were at 3,34,884 units, up 2 per cent, compared to Q4FY21, the company said in a release.
Raking in Money
Shares of smallcap multibagger SPML Infra settled at its upper circuit limit on securing several arbitration awards worth Rs 712 crore. Furthermore, the civil construction company said it is also in the final stages of filing several claims with a value of Rs 3,000 crore.
The company, which has a market cap of just Rs 274 crore, saw its shares rally 4.99 per cent to Rs 69.45 on BSE following this development.
In the last year, this stock has offered 487 per cent returns to its shareholders against an 18 per cent upside in Nifty50.
Result Hangover!
Shares of GM Breweries erased gains in afternoon trade and witnessed a sharp decline as a drop in March quarter net profit and contraction in margins disappointed even though revenue growth remained strong.
The alcoholic beverage maker posted an 11.6 per cent fall in net profit at Rs 40.08 crore in the last quarter of the financial year 2021-22 against Rs 45.34 crore in the same quarter last fiscal. Sequentially, the profit after tax (PAT) more than doubled from Rs 19.79 crore earlier.
The company also reported a contraction in the margin to 16.2 per cent in Q4FY22 from 21.5 per cent in Q4FY21, according to media reports.
Following this, shares of the company settled 4.6 per cent lower at Rs 677.85 on NSE.
