Eicher Motors Q3 Results: Net profit rises 7% YoY to Rs 533 crore

Eicher Motors Ltd reported a 7% YoY increase in net profit to Rs 533 crore for the quarter ended December (Q3 FY21). Its revenue jumped 19% YoY to Rs 2,828 crore during the same period. Sales for Royal Enfield increased by 5% to nearly 2 lakh units in this quarter. Even though both revenue and profits have increased, their operating margin has witnessed a marginal decline from 25% to 24%.

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Price Bands in Airfares to be discontinued in the airline industry

Union Aviation Minister, Hardeep Singh Puri, stated today that the price bands will be removed once the flight services reach pre-Covid-19 levels. Due to the pandemic and limited seats, the government placed floor and ceiling prices on airfares. It was done so that the airlines cannot charge hefty amounts from the customers due to restrictions on operating capacity. In May, when flights started to operate, there were only 30,000 passengers. The latest figure of Monday shows about 2,87,000 passengers.

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Hindalco Q3 Results: Net profit rises 76% YoY to Rs 340 crore

Aditya Birla group company Hindalco declared a 76% YoY rise in net profit to Rs 340 crore for the quarter ended December (Q3). Its revenue increased by 11% YoY to Rs 11,351 crore from Rs 10,230 crore. The company’s Aluminium division saw its operating income grow by 26%. Another good news for the company came as their margin increased from 12.6% to 15.8%

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SpiceJet Q3 Results: Net Loss of Rs 67 crore reported

Low-cost airline, SpiceJet, declared a standalone net loss of Rs 66.77 crore for Q3 FY21. In the same quarter last year, SpiceJet announced a net profit of Rs 78.16 crore. On a positive side, their net loss has decreased on a quarterly basis. In the second quarter, they reported a net loss of Rs 108.53 crore. This recovery can be attributed to the increase in demand in the passenger business. 

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Titan Q3 Results: Net profit falls by 11% to Rs 419 crore

Titan reported an increase of 17.4% in revenue to Rs 7,287 crore for the quarter ended December (Q3). Even after improved revenues, their net profits fell by 10.9% to Rs 419 crore. In the same quarter last year, their net profits recorded were Rs 470 crore. Their operating margin remained flat at 11.8%. Sales in the jewellery segment accounted for almost 90% of the total revenue. 

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IRB Infra to raise Rs 2,220 crore via NCDs

IRB Infrastructure Developers has entered into a definitive agreement with India Toll Roads. In this agreement, they will be raising Rs 2,220 crore by issuing non-convertible debentures (NCDs). The fund accumulated will be used to repay existing loans of up to Rs 1,600 crore. The rest of the amount will be utilized to meet capex requirements and general corporate purposes. 

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GAIL Q3 Results: Net profit rises 18.9% YoY to Rs 1,487.3 crore

GAIL India reported a 18.9% YoY increase in standalone net profit to Rs 1,487.3 crore for the quarter ended December (Q3). Its revenue fell by 13% YoY to Rs 15,454 crore during the same period. Even after a fall in top line, their profit numbers increased due to lower tax cost and margin expansion. Taxes paid in Q3FY21 fell to Rs 380.4 crore from Rs 621 crore in the corresponding period.

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Polyplex Q3 Results: Net profit increased by 81%, a dividend of Rs 100 per share announced

Polyplex Corporation declared a special dividend of Rs 100 per share after strong performance in the third quarter of FY21. Its consolidated net profit jumped by 81% (YoY) to Rs 224.73 crore in the December quarter. Revenue from operations also rose by 13.3% (YoY) to Rs 1,237 crore. The shares of the company skyrocketed by 17% to Rs 880 in intra-day trade. The record date of this dividend is 19th February, 2021.

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Bank of India Q3 Results: Net profit rises five times to Rs 541 crore

Bank of India declared a net profit of Rs 541 crore for the quarter ended December (Q3). Net interest income fell by 9.2% (YoY) to Rs 3,740 crore. Net interest Margin (NIM) stood at 2.81% as on 31st December 2020. It was 3.45% during the same period last year. The bank’s deposits increased by 18.24% (YoY) to Rs 5,36,171 crore. Gross NPAs fell to Rs 54,997 crore as compared to Rs 61,731 crore in the same quarter previous year.

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ABB India Q4 Results: Net profit falls by 4% to Rs 62 crore

ABB India declared a net profit of Rs 62 crore which is 4% lower than what is reported in the same quarter last year. The company follows January to December financial year. The total revenue also declined to Rs 1,701 crore from Rs 1,953 crore on a year-on-year basis. The Board of Directors of the company have recommended a dividend of Rs 5 per share.

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