Manappuram Finance Q2 Results: Net profit falls 8.8%% YoY to Rs 369 crore 

Manappuram Finance Ltd reported an 8.8% YoY decline in consolidated net profit to Rs 369.88 crore for the quarter ended September (Q2 FY22). Its income from operations fell 2.15% YoY to Rs 1,531.92 crore during the same period. Assets under management (AUM) grew 5.7% YoY to Rs 28,421.63 crore in Q2. The company’s board has declared an interim dividend of Rs 0.75 per share.

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SBI credit card users to pay Rs 99 + tax on all EMI transactions from Dec 1

State Bank of India has announced that it will charge its credit card customers a fee of Rs 99 plus taxes on all equated monthly installment (EMI) purchases from December 1. The processing fee will be charged at merchant outlets, e-commerce websites, and apps when making payments through SBI credit cards. The adoption of fees follows industry standards, as most banks have already been charging processing fees for EMI transactions for a long time now.

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SpiceJet Q2 Results: Net loss widens to Rs 562 crore

SpiceJet Limited reported a net loss of Rs 562 crore for the quarter ended September (Q2 FY22). It had posted a net loss of Rs 112.5 crore in the corresponding quarter last year (Q2 FY21). The airlines’ sales rose 27% YoY to Rs 1,342.5 crore in Q2 FY22. Jet fuel costs surged 120% YoY to Rs 615 crore for the company, followed by a rise in aircraft lease rentals. 

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Ujjivan Financial Services Q2 Results: Net loss at Rs 68 crore

Ujjivan Financial Services Ltd reported a net loss of Rs 68.18 crore for the quarter ended September (Q2 FY22). It had posted a net profit of Rs 89.76 crore in the corresponding quarter last year (Q2 FY21). Its total income fell 11.65% YoY to Rs 731.90 crore in Q2 FY22. Expenses stood at Rs 822.73 crore in Q2, an increase of 16.7% YoY.

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Granules India Q2 Results: Net profit falls 50.7% YoY to Rs 80.68 crore

Granules India Ltd reported a 50.69% YoY decline in net profit to Rs 80.68 crore for the quarter ended September (Q2 FY22). Net profit declined 32.99% compared to the previous quarter. Its total revenue rose 3.52% YoY (or 4.53% QoQ) to Rs 888.33 crore during the same period. During the quarter, pharma formulations grew 10% but active pharma ingredients (API) sales were down 25%.

Tata Consumer Products to acquire Tata SmartFoodz for Rs 395 crore

Tata Consumer Products Ltd (TCPL) will acquire Tata SmartFoodz Ltd (TSFL) from its group firm Tata Industries for a cash consideration of Rs 395 crore. This move is consistent with TCPL’s strategic intent to expand into value-added categories. TSFL, under the brand name Tata Q, offers a range of differentiated products manufactured using MATS technology in India.

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Nalco Q2 Results: Net profit rises seven-fold YoY to Rs 747 crore

National Aluminum Co. Ltd (NALCO) reported a seven-fold YoY jump in consolidated net profit to Rs 747.80 crore for the quarter ended September (Q2 FY22). Net profit increased 115% compared to the previous quarter. Its revenue from operations rose 51% YoY to Rs 3,592 crore during the same period. EBITDA stood at Rs 1,126 crore in Q2, an increase of 310% YoY.

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Ipca Labs Q2 Results: Net profit declines 6% YoY Rs 250 crore

Ipca Laboratories Ltd reported a 6.3% YoY decline in consolidated net profit to Rs 250.23 crore for the quarter ended September (Q2 FY22). Its revenue from operations rose 13.46% YoY to Rs 1,544.43 crore during the same period. The pharma company’s board has declared an interim dividend of Rs 8 per share.

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