L&T Q4 Results: Net profit rises 3% YoY to Rs 3,293 crore

Larsen & Toubro (L&T) reported a 3% YoY increase in consolidated net profit to Rs 3,293 crore for the quarter ended March (Q4). Net profit has risen by 33% when compared to the October-December quarter (Q3 FY21). Its revenue from operations rose 9% YoY to Rs 48,088 crore in Q4 FY21. L&T’s order inflow fell 12% YoY to Rs 50,651 crore during the same period. For the financial year ended March 31, 2021 (FY21), net profit stood at Rs 11,583 crore, registering a growth of 21% YoY. The company’s board has recommended a final dividend of Rs 18 per share.

The construction arm of L&T has secured an order worth Rs 2,500-5,000 crore from Chennai Metro Rail Corporation Ltd (CMRL). The order consists of the construction of nearly 12 km Twin Bored tunnels from Kellys metro station to Taramani Road Junction station.

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Dr Reddy’s Labs Q4 Results: Net profit declines 28% YoY to Rs 554 crore

Dr Reddy’s Laboratories reported a 28% year-on-year (YoY) decline in consolidated net profit to Rs 554 crore for the quarter ended March (Q4). Its revenue rose 7% YoY to Rs 4,728 crore during the same period. The company’s sales from the North American market fell 3% YoY to Rs 1,749.1 crore. Total sales in India rose 23% YoY to Rs 844.5 crore in Q4. Its operating profit grew 13% YoY to Rs 1,133 crore during the quarter. The drugmaker’s board has approved a final dividend of Rs 25 per share.

In other news, Dr Reddy’s Labs has launched the Russian Covid-19 vaccine, Sputnik V, in India at Rs 948 per dose.

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Mphasis Q4 Results: Net profit declines 10.2% YoY to Rs 316.9 crore

Mphasis Limited reported a 10.2% YoY decline in consolidated net profit to Rs 316.9 crore for the quarter ended March (Q4). Its revenue from operations rose 7.5% YoY to Rs 2,524.2 crore during the same period. The IT firm’s total contract value (TCV) stood at $245 million (~Rs 1,795 crore) in Q4, of which 69% was in new generation services. For the financial year ended March 31, 2021 (FY21), net profit rose 2.7% YoY to Rs 1,216.8 crore. The company’s board has recommended a dividend of Rs 65 per share.

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Cipla Q4 Results: Net profit rises 68% YoY to Rs 413 crore

Cipla Limited reported a 68% YoY increase in consolidated net profit to Rs 413.4 crore for the quarter ended March (Q4). Net profit has declined by 44% when compared to the previous quarter (Q3 FY21). Its total revenue rose 5.2% YoY to Rs 4,606.45 crore during the same period. Cipla’s tax expenses jumped 50% YoY to Rs 128.2 crore in Q4. Sales from the North American market increased by 17% YoY to Rs 1,002 crore. The drugmaker’s board has approved a final dividend of Rs 5 per share.

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Alembic Pharma gets USFDA approval for bipolar depression drug

Alembic Pharmaceuticals Ltd has received final approval from the US Food & Drug Administration (USFDA) for Lurasidone Hydrochloride tablets. The drug is indicated for the treatment of major depressive episodes associated with bipolar depression. According to IQVIA data, Lurasidone Hydrochloride tablets had US sales of approximately $3.7 billion (~Rs 27,110 crore) for the twelve months ended December 2020.

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Escorts Q4 Results: Net profit jumps two-fold to Rs 285 crore 

Escorts Limited reported over a two-fold YoY jump in consolidated net profit to Rs 285.41 crore for the quarter ended March (Q4). Its revenue from operations rose 60% YoY to Rs 2,228.75 crore during the same period. Tractor sales increased by 62.1% YoY to 32,588 units in Q4. For the financial year ended March 31, 2021 (FY21), net profit rose 85% YoY to Rs 871.63 crore. The board of Escorts Ltd has approved a final dividend of Rs 5 per share and a special dividend of Rs 2.5 per share.

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Aditya Birla Capital Q4 Results: Net profit jumps 161% YoY to Rs 375 crore

Aditya Birla Capital reported a 161.1% YoY jump in consolidated net profit to Rs 375.15 crore for the quarter ended March (Q4). Its revenue from operations rose 16.2% YoY to Rs 5,586.83 crore during the same period. The overall lending book (including NBFC and housing finance) grew 2% YoY to Rs 60,557 crore during the quarter. The gross premium across Aditya Birla Capital’s life and health insurance segments rose 25% YoY to Rs 11,076 crore in Q4.

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GoAir seeks SEBI approval for Rs 3,600 crore IPO

Go Airlines India Ltd has filed a Draft Red Herring Prospectus (DHRP) with market regulator SEBI to launch an initial public offering (IPO) worth Rs 3,600 crore. Ahead of the IPO, the low-cost airline rebranded itself as ‘Go First’. The company will utilise the net proceeds from the public issue towards pre-payment or scheduled repayment of outstanding borrowings worth Rs 2,015.8 crore. It will also use the proceeds for the replacement of letter of credits, repayment of dues to Indian Oil Corp.

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Welspun India Q4 Results: Net profit rises 48% YoY to Rs 134 crore

Welspun India reported a 48.3% YoY increase in consolidated net profit to Rs 134.34 crore for the quarter ended March (Q4). Its total income for the quarter stood at Rs 2,173.46 crore. This is compared with a net income of Rs 1,664.46 crore in the corresponding quarter a year ago (Q4 FY20). The company’s board has approved the buyback of equity shares at Rs 120 per share for an aggregate amount of Rs 200 crore. Welspun India’s board has also recommended a dividend of Rs 0.15 per share.

In other news, Welspun India said it will work with Target Corporation again, almost five years after the US retail giant terminated its contract with the company over alleged lapses in labelling and marketing of Egyptian cotton products.

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Indigo Paints Q4 Results: Net profit falls 9% YoY to Rs 24 crore

Indigo Paints reported an 8.9% YoY decline in net profit to Rs 24.8 crore for the quarter ended March (Q4). Its revenue from operations rose 40.8% YoY to Rs 254.27 crore during the same period. Earnings before interest, tax, depreciation, and amortization (EBITDA) fell 7.9% YoY to Rs 42.9 crore in Q4. For the financial year ended March 31, 2021 (FY21), net profit rose 48.2% YoY to Rs 70.85 crore.

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