Bajaj Auto Q3 Results: Net profit falls 17% YoY to Rs 1,430 crore

Bajaj Auto Ltd reported a 17% YoY decline in consolidated net profit to Rs 1,429.68 crore for the quarter ended December (Q3 FY22). Net profit fell 30% when compared to the previous quarter. Its revenue from operations rose 1% YoY (or 5% QoQ) to Rs 9,021.65 crore during the same period. EBITDA stood at Rs 1,154 crore, down 25% YoY. The automaker’s total volumes fell 10% YoY to 11.81 lakh units in Q3

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Axis Bank’s subsidiary sends legal notice to ZEEL; seeks Rs 146 crore in dues

Axis Finance Ltd (AFL), a subsidiary of Axis Bank, has sent a legal notice to Zee Entertainment Enterprises Ltd (ZEEL) and its promoters, seeking to recover over Rs 146 crore in dues before finalising the proposed merger of the company with Sony Pictures Network India (SPNI). ZEEL has denied all claims. It stated that neither the company nor its MD and CEO Punit Goenka are party to any of the loan documents. ZEEL has also pointed out that Goenka or the company did not provide any assurance to AFL for repayment.

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Lupin signs pact with Shenzhen Foncoo to sell products in China

Lupin Limited has signed a pact with Shenzhen Foncoo Pharmaceutical Co. to sell products in China. This is the company’s first partnership arrangement in China and reinforces the drug makers’ commitment to bringing high-quality generic and complex generic medicines to patients around the world. Lupin will continue to explore additional partnership opportunities in China to leverage its global portfolio including complex generics and specialty medicines

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Rallis India Q3 Results: Net profit falls 13% YoY to Rs 40 crore

Rallis India Ltd reported a 13.3% YoY decline in consolidated net profit to Rs 39.56 crore for the quarter ended December (Q3 FY22). Net profit fell 30% when compared to the previous quarter. Its revenue from operations rose 10.1% YoY to Rs 628.08 crore during the same period. The chemical manufacturer’s EBITDA rose 13% YoY to Rs 67 crore in Q3. 

Ashoka Buildcon secures project worth Rs 112 crore for construction of mall-cum multiplex

Ashoka Buildcon Ltd has received the Letter of Intent (LoI) for the construction of a mull-cum multiplex in Patna. The company was awarded the project at a cost of Rs 111.51 crore excluding GST. Nashik-based Ashoka Buildcon is an infrastructure development company. It is primarily engaged in the construction & maintenance of roads and supporting services 

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L&T Infotech Q3 Results: Net profit rises 43% YoY to Rs 151 crore

L&T Infotech Ltd reported an 18% YoY increase in consolidated net profit to Rs 612 crore for the quarter ended December (Q3 FY22). Net profit rose 11% when compared to the previous quarter. Its revenue from operations rose 31% YoY (or 9.2% QoQ) to Rs 4,137 crore during the same period. EBITDA grew 14% YoY to Rs 742 crore in Q3. In dollar terms, the company’s revenue stood at $553 million, registering a growth of 29% YoY and 8.7% QoQ.

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Mahindra partners with Hero Electric to manufacture electric two-wheelers

Mahindra Group has announced a strategic partnership with Hero Electric to cater to the growing demand for electric vehicles (EVs) in India. As part of the partnership, Mahindra Group will manufacture Hero Electric’s most popular electric bikes (Optima & NYX) at their Pitampur plant. With this collaboration, Hero Electric will be able to meet its demand of manufacturing over one million EVs per year.

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JSW Energy Q3 Results: Net profit jumps over two-fold to Rs 324 crore

JSW Energy Ltd reported an over two-fold YoY jump in consolidated net profit to Rs 324 crore for the quarter ended December (Q3 FY22). Its revenue from operations rose 18% YoY to Rs 1,893 crore during the same period. The company’s earnings before interest, tax, depreciation, and amortisation (EBITDA) was higher by 35% YoY at Rs 882 crore in Q3.

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HAL signs contract with Mauritius for export of Advanced Light Helicopter

Hindustan Aeronautics Ltd (HAL) has signed a contract with the Government of Mauritius (GoM) for the export of an Advanced Light Helicopter (ALH)-MkIII for the Mauritius Police Force. Mauritius already operates an ALH and Dornier Do-228 aircraft built by HAL. The ALH Mk III is a multi-role, multi-mission helicopter in the 5.5-tonne category. It is used extensively by the Indian armed forces.

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CEAT Q3 Results: Net loss at Rs 20 crore

CEAT Limited reported a consolidated net loss of Rs 20.01 crore for the quarter ended December (Q3 FY22). It had posted a net profit of Rs 132.14 crore in Q3 FY21 and Rs 41.98 crore in the previous quarter (Q2 FY22). Its revenue from operations rose 9% YoY to Rs 2,413 crore in Q3 FY22. The tyre manufacturer’s EBITDA fell 59% YoY to Rs 134 crore during the same period.

SEBI launches Saa₹thi mobile app for investor education

The Securities and Exchange Board of India (SEBI) has launched “Saa₹thi”– a mobile app on investor education. The new app aims to create awareness among investors about the basic concepts of the securities market. It will also explain about KYC process, trading & settlement, mutual funds (MF), recent market developments, investor grievances redressal mechanism, etc.

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