Adani Ports Q4 Results: Net profit jumps 285% YoY to Rs 1,288 crore

Adani Ports & Special Economic Zone Ltd (APSEZ) reported a 285% year-on-year (YoY) jump in net profit to Rs 1,288 crore for the quarter ended March (Q4). Its revenue rose 24% YoY to Rs 3,608 crore during the same period. Total cargo volumes handled by the company rose 27% YoY to 73 million metric tonnes (MMT) in Q4. For the financial year ended March 31, 2021 (FY21), net profit has increased by 32.7% YoY to Rs 4,994 crore. APSEZ’s board has recommended a dividend of Rs 5 per share.

Read more here.

IPL 2021 suspended after multiple cases of Covid-19 reported in bio-bubbles

The Indian Premier League (IPL) 2021 has been postponed indefinitely after multiple positive cases of Covid-19 were reported within its bio-bubbles. A total of 29 out of the scheduled 56 league games were played this season. As per reports, the BCCI stands to lose over Rs 2,000 crore of the broadcast and sponsorship money earmarked for this year’s IPL.

Read more here.

HAL signs MoU with Rolls-Royce for MT30 marine engine installation in India

Hindustan Aeronautics Ltd (HAL) and UK-based Rolls-Royce have signed a Memorandum of Understanding (MoU) to establish packaging, installation, marketing, and services support for Rolls-Royce MT30 marine engines in India. The MT30 is the world’s most power-dense, best-in-class naval gas turbine. It has the potential to provide next-generation capabilities to the Indian Navy’s future fleet. This partnership will leverage the rich experience of HAL’s Industrial and Marine Gas Turbine (IMGT) Division that works on marine gas turbines with Indian shipyards.

Read more here.

RBL Bank Q4 Results: Net profit falls 34% YoY to Rs 75 crore 

RBL Bank reported a 34% YoY decline in net profit to Rs 75 crore for the quarter ended March (Q4). Net interest income (NII) has declined by 11% YoY to Rs 906 crore during the same period. [NII is the interest income a bank receives on assets such as loans, and the interest it pays to depositors] The gross non-performing assets (GNPAs) ratio stood at 4.37%, compared with 4.57% in the preceding quarter (Q3 FY21). RBL Bank’s deposits increased by 26% YoY to Rs 73,121 crore in Q4 FY21.

Read more here.

Wipro to set up Innovation Centre in London; to invest £16 million

Wipro Limited has announced the setting up of an Innovation Centre in Holborn, London. The IT services company will invest £16 million (~Rs 164 crore) over the next four years in the 20,000 sq ft. centre. The Innovation Centre will serve as Wipro’s flagship centre in the United Kingdom and offer digital, cybersecurity, and cloud expertise to enterprises around the globe. 

Read more here.

Alembic Pharma Q4 Results: Net profit rises 12% YoY to Rs 251 crore

Alembic Pharmaceuticals Ltd reported a 12% YoY increase in consolidated net profit to Rs 251 crore for the quarter ended March (Q4). Its revenue from operations rose 6% YoY to Rs 1,280 crore during the same period. For the financial year ended March 31, 2021 (FY21), net profit has jumped 42% YoY to Rs 1,178 crore. Its Indian branded formulations business grew 5% YoY to Rs 1,497 crore in FY21. The pharma company’s board has recommended a dividend of Rs 14 per share.

Read more here.

HCL Tech engages in multi-year contract with Hitachi ABB Power Grids

HCL Technologies Ltd has entered into a multi-year contract with Hitachi ABB Power Grids to build a new greenfield digital foundation as part of a global transformation program. HCL Tech will help Hitachi ABB Power Grids to establish a new, efficient, and independent IT organisation. By leveraging HCL’s Cloud Smart offerings, Hitachi ABB Power Grids will benefit from an adaptive portfolio with innovative cloud services driven by intelligent automation and a powerful partner ecosystem.

Read more here.

Bajaj Healthcare launches Favipiravir tablets to treat mild-to-moderate Covid-19 cases

Bajaj Healthcare Limited (BHL) has announced the launch of antiviral drug Favipiravir, used for treating mild to moderate Covid-19 infections in India. The tablets will be sold under the ‘Favijaj’ brand. The pharma company has successfully developed the Active Pharmaceutical Ingredient (API) and the formulation for Favipiravir through its own in-house research and development (R&D) team. The drug will be available as a prescription-based medication.

Read more here.

Anupam Rasayan to invest Rs 43 crore to set up a 12.5 MW solar power plant

Anupam Rasayan India Ltd said it will invest Rs 43 crore to set up a 12.5 megawatt (MW) solar power plant. The company will utilise the proceeds from its IPO to fund this project. The proposed solar power plant will cater to the energy requirements of Anupam Rasayan’s major manufacturing units. The specialty chemicals company currently operates six manufacturing facilities in Gujarat.

Read more here.

Suven Life Sciences Q4 Results: Net loss at Rs 21.6 crore

Suven Life Sciences Ltd reported a consolidated net loss of Rs 21.6 crore for the quarter ended March (Q4 FY21). It had posted a net loss of Rs 25.74 crore in the corresponding period last year (Q4 FY20). Total income declined by 75.3% YoY to Rs 2.88 crore in Q4 FY21. For the financial year ended March 31, 2021 (FY21), consolidated net loss stands at Rs 72.45 crore.

Read more here.

Adani Total Gas Q4 Results: Net profit rises 18% YoY to Rs 143 crore

Adani Total Gas Limited (ATGL) reported an 18.38% YoY increase in net profit to Rs 143.73 crore for the quarter ended March (Q4). Its revenue from operations rose 26% YoY to Rs 584.48 crore during the same period. The number of ATGL’s standalone CNG stations increased to 217 in Q4, with 102 stations being added in FY21. For the financial year ended March 31, 2021 (FY21), net profit rose 6% YoY to Rs 462 crore.

Read more here.

L&T Infotech Q4 Results: Net profit rises 27% YoY to Rs 545 crore

L&T Infotech Limited reported a 27% YoY increase in consolidated net profit to Rs 545 crore for the quarter ended March (Q4). On a quarterly basis, net profit has increased by 5%. Its revenue from operations rose 9.42% YoY to Rs 3,372.4 crore during the same period. The company’s board has declared a final dividend of Rs 25 per share.

Latest

Advertisement