Indus Towers Q4 Results: Net profit rises 38% YoY to Rs 1,364 crore

Indus Towers Limited reported a 38% year-on-year (YoY) increase in consolidated net profit to Rs 1,364 crore for the quarter ended March (Q4). Its revenue from operations rose 3% YoY to Rs 6,492 crore during the same period. The company added 3,715 towers across 22 telecom circles in India in Q4 FY21. As of March 31, 2021, Indus Towers owns and operates 1,79,225 towers with 3,22,438 co-locations across the country.

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L&T Construction secures order from Oilfield Supply Company Saudi

Larsen & Toubro Limited (L&T) said its construction arm has received a significant order (in the range of Rs 1,000-2,500 crore) from Oilfields Supply Company Saudi to design and build an oil and gas supply base at King Salman Energy Park, Dammam. The project involves the construction of industrial facilities of different sizes, an administration building, associated infrastructure, and storage yards. The project is scheduled to be completed in 30 months.

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Vodafone Idea approaches pension funds to raise $1 billion: Report

As per a report from the Economic Times, Vodafone Idea (Vi) is looking to raise around $1 billion (~Rs 7,500 crore) from pension funds to keep its India business on track. The report states that Vi has approached three Canadian pension funds— Caisse de Dépôt et Placement du Québec (CDPQ), Canada Pension Plan Investment Board (CPPIB), and Ontario Teachers’ Pension Plan (OTPP). It has also approached Norway’s Government Pension Fund Global.

In other news, Vi has rolled out new postpaid plans for businesses and working professionals with benefits such as mobile security, location tracking, data pooling, etc. The plans, which start at Rs 299, are targeted at Small and Medium Enterprises (SMEs) and startups.

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Easy Trip Planners partners with JustDial to offer air travel services

Easy Trip Planners has announced a partnership with local search engine JustDial to offer air travel services. Through this collaboration, EaseMyTrip will be the exclusive service provider for all flight bookings on JustDial. There will be direct API (application programming interface) integration of EaseMyTrip with JustDial wherein real-time bookings can be executed.

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Infosys inks pact with BP to develop integrated EaaS offering

Infosys Limited has signed a Memorandum of Understanding (MoU) with UK-based BP to develop an integrated Energy-as-a-Service (EaaS) offering that will provide end-to-end management of customers’ energy assets and services. The companies will explore opportunities using BP’s energy and mobility expertise and Infosys’ digital capabilities to manage energy assets, provide low carbon power, and low carbon heating/cooling to campuses. The collaboration seeks to apply digital services to integrated energy solutions to help de-carbonize corporations and cities.

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Filatex India Q4 Results: Net profit jumps 5-fold to Rs 118.39 crore

Filatex India Limited reported over five-fold year-on-year (YoY) increase in net profit to Rs 119.39 crore for the quarter ended March (Q4). Its total revenue rose 27.48% YoY to Rs 858.16 crore during the same period. The company’s board has recommended a final dividend of Rs 0.40 per share. Filatex India is a textile production company based in New Delhi.

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Tata Motor’s JLR suspends work at UK plants amid semiconductor shortage

Jaguar Land Rover (JLR) has temporarily shut down production at two of its main UK factories due to a shortage of semiconductors. The shutdown is scheduled to last at least a week, and the company will continue to monitor its chip supply before committing to a reopening date. The semiconductor crisis has been affecting global vehicle production for several months now, following a surge in demand for smartphones and personal computers amidst the impact of the Covid-19 pandemic.

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Visaka Industries Q4 Results: Net profit rises 350% YoY to Rs 30.87 crore

Visaka Industries Limited reported a 350.66% YoY increase in net profit to Rs 30.87 crore for the quarter ended March (Q4). On a quarterly basis, net profit has grown by 33.81%. Its revenue from operations rose 55.47% YoY to Rs 356.60 crore during the same period. The company’s board has recommended a final dividend of Rs 10 per share. Visaka Industries is a leading manufacturer of cement roofing sheets and fibre cement boards in India. 

Caplin Point gets USFDA approval for Neostigmine Methylsulfate Injection

Caplin Steriles, a subsidiary of Caplin Point Laboratories, has received final approval from the US Food & Drug Administration (USFDA) for its Abbreviated New Drug Application (ANDA)— Neostigmine Methylsulfate injection. The approved product is used for the reversal of the effects of non-depolarizing neuromuscular blocking agents (NMBAs) after surgery. As per IQVIA data, the product had US sales of approximately $20 million (~Rs 150 crore) for the 12-months ended December 2020. 

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Subex launches augmented analytics platform HyperSense

Subex Limited has announced the launch of HyperSense, an end-to-end augmented analytics platform. The platform will help enterprises make faster, better decisions by leveraging Artificial Intelligence (AI) across the data value chain. HyperSense’s unique no-code capabilities allow users without a knowledge of coding to easily aggregate data from disparate sources, turn data into insights, and effortlessly share their findings across the organization.

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Tata Elxsi Q4 Results: Net profit rises 40% YoY to Rs 115 crore

Tata Elxsi Limited reported a 40.3% YoY increase in net profit to Rs 115.16 crore for the quarter ended March (Q4). On a quarterly basis, net profit has grown by 9.4%. The IT services company posted an 18.12% YoY rise in revenue to Rs 518.50 crore during the same period. The company’s board has announced a final dividend of Rs 24 and a special dividend of Rs 24.

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At the recent United Nations Climate Change Conference at Glasgow (COP26), India pledged to achieve net-zero carbon emissions by 2070. The Centre has committed to installing a non-fossil fuel electricity generation capacity of 500 gigawatts (GW) and sourcing 50% of India’s energy requirement from renewable sources by 2030. The government also aims to reduce 1 […]

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