Bharti Airtel Q3 Results: Net profit at Rs 854 crore

Bharti Airtel reported a consolidated net profit of Rs 853.6 crore for the quarter ended December (Q3). It has posted a net loss of Rs 763.2 crore in the corresponding quarter last year. The telecom operator’s revenue grew 6% quarter-on-quarter (QoQ) to Rs 26,517 crore in Q3 FY21. Bharti Airtel’s average revenue per user (ARPU) stood at Rs 166 crore in Q3, compared to Rs 162 in Q2 FY21. The company added 1.2 crore 4G subscribers during the quarter to take its tally to 16.2 crore subscribers.

Bharti Airtel said it will raise up to Rs 7,500 crore through debt instruments such as debentures and bonds in one or more tranches. The fundraising has been announced as the telecom sector prepares for the upcoming spectrum auction in March and the rollout of 5G wireless service later this year.

Read more here.

Govt formally seals Rs 48,000 crore deal to procure 83 Tejas jets from HAL

The Defence Ministry has awarded a Rs 48,000 crore contract to Hindustan Aeronautics Limited (HAL) to supply 83 LCA (light combat aircraft) Mk-1A jets to the Indian Air Force. The first Mk-1A aircraft will be delivered to the air force in three years, and the rest will be supplied by 2030. The deal for the 83 Mk-1A jets will take the total number of Tejas variants ordered to 123. Tejas (which is manufactured by HAL) is a single-engine and highly agile multi-role supersonic fighter aircraft capable of operating in high-threat air environments. 

Read more here.

Jubilant FoodWorks Q3 Results: Net profit rises 22% YoY to Rs 123 crore

Jubilant FoodWorks Ltd reported a 21.71% YoY increase in consolidated net profit to Rs 123.91 crore for the quarter ended December (Q3). Its revenue from operations declined by 0.19% YoY to Rs 1,069 crore during the same period. The company stated that it has seen complete revenue recovery and strong improvement in margins. Jubilant FoodWorks expanded its network by opening 57 stores in Q3. 

Read more here.

Hero MotoCorp sets up separate vertical for Harley Davidson distribution

Hero Motocrop Ltd on Wednesday announced that it will set up a separate vertical to drive its new business of Harley-Davidson products and merchandise distribution. The two-wheeler manufacturer has on-boarded 11 existing Harley-Davidson dealers in key geographies across the country. The company commenced wholesale dispatches of Harley products to the dealers on January 18. 

Read more here.

Ramco Cements Q3 Results: Net profit at Rs 201 crore

Ramco Cements Ltd reported a standalone net profit of Rs 201.35 crore for the quarter ended December (Q3). It had posted a net profit of Rs 94.80 crore in the corresponding quarter last year. Its revenue stood at Rs 202.86 crore in Q3, compared with Rs 95.57 crore during the corresponding quarter last year (Q3 FY20). The company’s cement sales volume for the October-December quarter slipped to 26.14 lakh tonne, as against 28.44 lakh tonne in Q3 FY20.

Read more here.

Maruti Suzuki partners with ALD Automotive India for subscription program

Maruti Suzuki India Ltd has partnered with ALD Automotive India for its subscription program for individual customers. ALD Automotive is the leasing and fleet management business line of Paris-based Société Générale Group. Maruti Suzuki has also expanded its subscription programme to customers in Kochi. Customers can pay an all-inclusive monthly subscription charge starting at Rs 12,513 for WagonR and Rs 13,324 for Ignis in Kochi (including taxes) for a tenure of 48 months. 

Read more here.

Adani Enterprises Q3 Results: Net profit declines 10% YoY to Rs 343 crore

Adani Enterprises Ltd reported a 10.39% YoY decline in consolidated net profit to Rs 343.17 crore for the quarter ended December (Q3). Its consolidated revenue rose 6% YoY to Rs 11,788 crore during the same period. Mining and solar manufacturing revenues were up 13% and 29%, respectively, in Q3.

Read more here.

SEBI bars Future Group CEO Kishore Biyani from securities market for 1 year

The Securities and Exchange Board of India (SEBI) has barred Future Group CEO Kishore Biyani from accessing the securities market for a period of 1 year in a case pertaining to alleged insider trading between March and April 2017. Biyani has also been barred from buying, selling, or dealing in securities of Future Retail for 2 years. SEBI announced its decision after a probe into the use of unpublished price sensitive information to trade in Future Retail.

Read more here.

Ujjivan SFB Q3 Results: Net loss at Rs 279 crore

Ujjivan Small Finance Bank reported a net loss of Rs 279 crore for the quarter ended December (Q3). It had posted a net profit of Rs 90 crore in the corresponding quarter last year. The bank’s provisions increased to Rs 584 crore, compared to Rs 31 crore in Q3 FY20. Ujjivan SFB’s gross non-performing assets (NPAs) ratio remained stable at 1%, compared to 0.9% in Q3 FY20.

Read more here.

Adani Total Gas Q3 Results: Net profit rises 27% YoY to Rs 145 crore

Adani Total Gas Ltd reported a 26.7% YoY increase in net profit to Rs 145.87 crore for the quarter ended December (Q3). Its revenue rose 1.42% YoY to Rs 496 crore during the same period. The company commissioned 17 new CNG stations in Q3, taking the tally to 151 stations. PNG home connections increased to 4.75 lakh, with 10,346 new connections during the October-December quarter.

Adani Total Gas has reached a three-year deal to import liquefied natural gas (LNG) from French major Total’s assets. The gas is being procured by Adani Total Private Ltd for sale in India to the company’s domestic and industrial customers.

Read more here.

Venky’s Q3 Results: Net profit at Rs 106 crore

Venky’s (India) Ltd reported a net profit of Rs 106.5 crore for the quarter ended December (Q3). It had posted a net loss of Rs 5.86 crore in the corresponding quarter last year. The company’s revenue rose 5.8% YoY to Rs 931.68 crore in Q3 FY21. Venky’s poultry and poultry products segment recorded a growth of over 11% YoY, while its animal health products segment grew by ~10% YoY. 

Latest

Advertisement