Maruti Suzuki Q4 Results: Net profit falls 10% YoY to Rs 1,166 crore

Maruti Suzuki India Limited reported a 9.7% year-on-year (YoY) decline in net profit to Rs 1,166 crore for the quarter ended March (Q4). Revenue from operations rose 32% YoY to Rs 24,023 crore during the same period. The automaker sold a total of 4.92 lakh units in Q4 FY21, registering a growth of 27.8% YoY. Its sales for the financial year ended March 31, 2021, fell 6.7% YoY to 14.57 lakh units. Maruti Suzuki’s board has declared a final dividend of Rs 45 per share.

Read more here.

JSPL to divest entire stake in Jindal Power to Worldone for Rs 3,015 crore

The Board of Directors of Jindal Steel and Power Ltd (JSPL) has approved the divestment of its entire equity stake in Jindal Power Limited (JPL) by selling its shares to Worldone Pvt Ltd. The equity value is an all-cash offer of Rs 3,015 crore for 96.42% stake in JPL, including 3,400 MW coal-fired power plants in Chhattisgarh. The divestment is in line with JSPL’s strategic objective to continuously reduce its debt, focus on its India steel business, and significantly reduce its carbon footprint by almost half.

Read more here.

Axis Bank Q4 Results: Net profit at Rs 2,677 crore

Axis Bank reported a standalone net profit of Rs 2,677 crore for the quarter ended March (Q4). The lender had posted a net loss of Rs 1,388 crore in the corresponding quarter last year (Q4 FY20). Net interest income (NII) rose 11% YoY to Rs 7,555 crore in Q4 FY21. [NII is the difference between interest income received from assets such as loans, and the interest it pays to depositors] Provisions during the quarter fell 58% YoY to Rs 3,295 crore. The gross non-performing assets (NPAs) ratio stood at 3.7% in Q4, compared to 4.55% in Q3.

Read more here.

Bajaj Finance Q4 Results: Net profit rises 42% YoY to Rs 1,347 crore

Bajaj Finance reported a 42% YoY increase in net profit to Rs 1,347 crore for the quarter ended March (Q4). Net interest income (NII) declined 0.5% YoY to Rs 4,659 crore during the same period. The gross non-performing assets (NPAs) ratio stood at 1.79% in Q4 FY21, compared to 2.84% in Q3 FY21. Consolidated assets under management (AUM) increased by 3.9% YoY to Rs 1.52 crore. The company’s board has recommended a dividend of Rs 10 per share.

Read more here.

Dr Reddy’s expects first lot of Covid-19 vaccine Sputnik V by May end

Dr Reddy’s Laboratories said it expects to receive the first lot of Covid-19 vaccine Sputnik V from the Russian Direct Investment Fund (RDIF) by May end. The pharma company had earlier received approval from the Drugs Controller General of India (DCGI) for the restricted emergency use of the vaccine. In September 2020, Dr Reddys and RDIF entered into a partnership to conduct clinical trials of Sputnik V in India. Both companies have also obtained the rights for distribution of the first 125 million doses in the country.

Read more here.

Britannia Industries Q4 Results: Net profit declines 3% YoY to Rs 360 crore

Britannia Industries Limited reported a 3% YoY decline in consolidated net profit to Rs 360.1 crore for the quarter ended March (Q4). Revenue from operations rose 8% YoY to Rs 3,038 crore during the same period. The company’s consolidated operating margin stood at 14.9% in Q4. Britannia Industries’ net income was affected by a sharp rise in tax expenses at Rs 132.6 crore.

Read more here.

Hindustan Zinc Q4 Results: Net profit rises 85% YoY to Rs 2,481 crore

Hindustan Zinc Limited (HZL) reported an 85% YoY increase in net profit to Rs 2,481 crore for the quarter ended March (Q4). Its total revenue rose 56% YoY to Rs 6,725 crore during the same period. HZL saw strong volume and price traction across key verticals such as zinc, silver, and lead. Zinc volumes were up 15% YoY, while lead volumes increased by 29% YoY in Q4. HZL said both mined and finished metal production in the current financial year (FY22) will be higher than last year and is expected to reach 1,025-1,50 kilotonne each.

Read more here.

ABB India Q1 Results: Net profit more than doubles to Rs 151 crore

ABB India Limited reported a 118.64% YoY increase in consolidated net profit to Rs 151 crore for the quarter ended March (Q1 CY21). The company follows the January-December financial year cycle. Its consolidated revenue rose 7.02% YoY to Rs 1,629.15 crore during the same period. The company received total orders worth Rs 1,825 crore in Q1, registering a growth of 24% over the previous quarter. ABB India posted sharp growth in the motion products, robotics, and process automation segments during the quarter.

Read more here.

4G subscriber base to rise to 820 million in FY22: CRISIL

According to a report by rating agency CRISIL, 4G mobile data subscribers are set to rise to 820 million by the end of March 2022 (FY22)— higher than in the last financial year due to higher competitive intensity. The report states that the pace of addition in subscriber count would pick up gradually over the remainder of the current financial year (FY22), as competitive intensity in the wireless-telecom market increases despite the second wave of Covid-19 pandemic. There has been a significant capacity addition after the spectrum auctions and removal of inter-operator charge (IUC) charges.

Read more here.

Hatsun Agro Products Q4 Results: Net profit jumps to Rs 57.13 crore 

Hatsun Agro Products Limited reported a multi-fold increase in net profit to Rs 57.13 crore for the quarter ended March (Q4). It had posted a net profit of Rs 7.95 crore in the corresponding period last year. The company’s sales rose 23.89% YoY to Rs 1,568.87 crore during the same period. Hatsun Agro’s net profit for the financial year ended March 31, 2021, rose 119% YoY to Rs 246.35 crore. Hatsun Agro Products is a leading dairy company based in Chennai.

Read more here.

TVS Motors Q4 Results: Net profit jumps four-fold to Rs 319 crore

TVS Motor Company reported a four-fold increase in consolidated net profit to Rs 319 crore for the quarter ended March (Q4). Revenue from operations rose to Rs 6,131.90 crore in Q4, compared to Rs 4,104.71 crore in the corresponding period last year (Q4 FY20). The company’s two-wheeler sales across domestic and international markets rose 47% YoY to 9.28 lakh units in Q4.

Read more here.

Latest

Advertisement