HUL Q2 Results: Net profit rises 9% YoY to Rs 2,187 crore

Hindustan Unilever Ltd (HUL) reported a 9% year-on-year (YoY) increase in net profit to Rs 2,187 crore for the quarter ended September (Q2 FY22). Its revenue from operations rose 11.2% YoY to Rs 12,724 crore during the same period. The company’s domestic consumer growth in Q2 was at 11% YoY. Operating margins fell 50 basis points to 24.6%. HUL’s board has approved an interim dividend of Rs 15 per share.

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Bharti Airtel launches Video Platform as a Service offering for OTT firms

Bharti Airtel has announced the launch of a Video Platform as a Service (CPaaS) solution— Airtel IQ Video. The product has been developed by Airtel’s in-house engineering teams. By leveraging Bharti Airtel’s resilient cloud and video technologies, Airtel IQ Video allows businesses to build world-class video streaming products for large and small screens with minimal investment in infrastructure and technology. Raj TV, Eros Now, and CG Telecom of Nepal have already deployed Bharti Airtel’s new solution.

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Nestle India Q3 Results: Net profit rises 5% YoY to Rs 617 crore

Nestle India reported a 5.16% YoY increase in net profit to Rs 617.37 crore for the quarter ended September (Q3 CY21). The company follows the January-December financial year cycle. Net profit increased by 14.63% compared to the previous quarter. Its revenue from operations rose 9.6% YoY to Rs 3,865 crore during the same period. Domestic sales growth stood at 10.1% in Q2. Nestle India’s board has declared a second interim dividend of Rs 110 per share.

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TV18 Broadcast Q2 Results: Net profit rises 86% YoY to Rs 140 crore

TV18 Broadcast Ltd reported an 86.67% YoY increase in consolidated net profit to Rs 140 crore for the quarter ended September (Q2 FY22). Net profit increased by 41.3% compared to the previous quarter. Its revenue from operations rose 29% YoY to Rs 1,309 crore during the same period. TV18 Broadcast (a subsidiary of Network18) runs the largest news network in India, spanning business, general, and regional news channels.

Meanwhile, Network18 Media & Investments reported a 307.7% QoQ jump in consolidated net profit to Rs 39.02 crore in Q2 FY22. The company had posted a net loss of Rs 9.47 crore in the corresponding quarter last year (Q2 FY21). Total income rose 13.12% QoQ (or 29.73% YoY) to Rs 1,392.35 crore in the July-Sept quarter of FY22.

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Aurionpro signs agreement to increase stake in SC Soft to 80%

Aurionpro Solutions Ltd has announced the signing of an agreement for the acquisition of a further stake in its subsidiary, SC Soft Pte Ltd. The transaction involves the acquisition of a 29% stake in SC Soft from existing shareholders in various tranches. In 2018, Aurionpro Solutions had acquired a 51% stake in SC Soft, a technology company that specialises in automated fare collection and payment solutions for mass transportation. 

DCM Shriram Q2 Results: Net profit rises 33.2% YoY to Rs 159 crore

DCM Shriram Ltd reported a 33.2% YoY increase in consolidated net profit to Rs 159 crore for the quarter ended September (Q2 FY22). Net profit rose 0.23% compared to the previous quarter. The chemical manufacturer’s total income rose 6.49% YoY (or 8.57% QoQ) to Rs 2,198.61 crore during the same period. DCM Shriram’s expenses increased by 3.11% YoY to Rs 1,970 crore in Q2. The company’s board has declared an interim dividend of Rs 4.60 per share.

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Dr Reddy’s Labs gets USFDA approval for Lenalidomide capsules

Dr Reddy’s Laboratories has received final approval for Lenalidomide capsules from the US Food and Drug Administration (USFDA). The drug is used to treat various types of cancers. With this approval, the pharma company is eligible for 180 days of generic drug exclusivity for Lenalidomide capsules, 2.5 mg and 20 mg. 

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ACC Q3 Results: Net profit rises 23.7% YoY to Rs 450 crore

ACC Limited reported a 23.7% YoY increase in consolidated net profit to Rs 450.19 crore for the quarter ended September (Q3 CY21). The company follows the January-December financial year cycle. Net profit fell 20.9% compared to the previous quarter. Its revenue from operations rose 5% YoY to Rs 3,653 crore during the same period. The cement manufacturer’s earnings before interest, tax, depreciation, and amortization (EBITDA) was higher by 6% YoY at Rs 712 crore in Q2.

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L&T Technology Services Q2 Results: Net profit rises 39% YoY to Rs 230 crore

L&T Technology Services (LTTS) Ltd reported a 38.97% YoY increase in consolidated net profit to Rs 230 crore for the quarter ended September (Q2 FY22). Net profit rose 6.38% compared to the previous quarter. Its total income rose 19.45% YoY (or 4.76% QoQ) to Rs 1,637 crore during the same period. LTTS secured a total of five deals with a total contract value of more than $10 million in Q2. EBIT margins grew by 470 basis points (bps) at 18.4%.

ICICI Securities Q2 Results: Net profit rises 26% YoY to Rs 351 crore

ICICI Securities Ltd reported a 26.28% YoY increase in consolidated net profit to Rs 351.24 crore for the quarter ended September (Q2 FY22). Net profit rose 13% compared to the previous quarter. Its total income rose 26% YoY to Rs 857 crore during the same period. The board of ICICI Securities has declared an interim dividend of Rs 11.25 per share.

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Reliance Retail acquires majority stake in designer Ritu Kumar’s firm

Reliance Retail Ventures Ltd (RRVL) has acquired a majority stake (~52%) in iconic Indian fashion designer Ritu Kumar’s company Ritika Pvt Ltd. The Ritu Kumar business includes four fashion brand portfolios that cumulatively retail out of 151 point of sales globally. The partnership between the pioneering designer and RRVL aims to highlight India’s re-emerging role in the international couture industry. 

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