RIL Q3 Results: Net profit rises 42% YoY to Rs 18,549 crore

Reliance Industries Ltd (RIL) reported a 42% YoY increase in net profit to Rs 18,549 crore for the quarter ended December (Q3 FY22). Net profit rose 36% when compared to the previous quarter. Its revenue from operations rose 54% YoY to Rs 1,91,271 crore during the same period. RIL’s oil to chemical (O2C) business reported a revenue of Rs 1.31 lakh crore, up 57% YoY. Reliance Retail recorded consolidated gross revenue of Rs 57,714 crore for Q3, a growth of 52.5% YoY.

Reliance Jio’s net profit rose 10% YoY increase in net profit to Rs 3,615 crore in Q3 FY22. Its revenue from operations rose 4.6% YoY to Rs 19,347 crore.

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JSW Steel Q3 Results: Net profit rises 62% YoY to Rs 4,357 crore

JSW Steel Ltd reported a 62% YoY increase in consolidated net profit to Rs 4,357 crore for the quarter ended December (Q3 FY22). Net profit fell 39% when compared to the previous quarter. Its revenue from operations rose 74% YoY (or 17% QoQ) to Rs 38,071 crore during the same period. JSW Steel’s total sales volume stood at 3.91 million tonnes (MT) in Q3, down 1% YoY.

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Bandhan Bank Q3 Results: Net profit rises 36% YoY to Rs 859  crore

Bandhan Bank reported a 36% YoY increase in net profit to Rs 859 crore for the quarter ended December (Q3 FY22). Its net interest income (NII) rose 2.7% YoY (or 10% QoQ) to Rs 2,125 crore during the same period. The gross non-performing assets (GNPA) ratio stood at 10.81% in Q3 FY22, compared to 1.1% in Q3 FY21. Provisions fell 25.2% YoY to Rs 805.71 crore in Q3 FY22.

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Gland Pharma Q3 Results: Net profit rises 34% YoY to Rs 273 crore crore

Gland Pharma Ltd reported a 33.77% YoY increase in consolidated net profit to Rs 273.03 crore for the quarter ended December (Q3 FY22). Its revenue from operations rose 23.7% YoY to Rs 1,063.33 crore during the same period. The pharma company’s EBITDA rose 32% YoY to Rs 394.6 crore in Q3. Revenue from its core markets (US, Europe, Canada, Australia) grew 10% YoY to Rs 665.2 crore.

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PTC India board to meet Jan 22 after allegations of irregularities in financial lending units

PTC India Ltd will hold its first board meeting on Saturday (Jan 22) following recent allegations of lapses in governance and operations at its financial lending units. PTC India Financial Services Ltd was accused of lapses in corporate governance by three independent directors who resigned on Thursday. PTI India’s chairman, Rajib Mishra, promised an investigation into the matter and has formed an internal committee that would submit a report in 30 days.

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Inox Leisure Q3 Results: Net loss at Rs 1.31 crore

Inox Leisure Ltd reported a net loss of Rs 1.31 crore for the quarter ended December (Q3 FY22). It had reported a net loss of Rs 102.5 crore in Q3 FY21 and a loss of Rs 87.66 crore in the previous quarter (Q2 FY22). Its revenue from operations jumped 1892.4% YoY to Rs 296.47 crore in Q3 FY22.

Nestle apologies for KitKat packs; says packs withdrawn last year

Nestle India has apologised for depicting images of Hindu Gods on some packs of its chocolate brand KitKat. The company stated that it withdrew the packs in mid-2021. Consumers across social media have accused the company of hurting religious sentiments by showing images of Hindu Gods on its chocolate brand wrappers.

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IDBI Bank Q3 Results: Net profit rises 53% YoY to Rs 578 crore

IDBI Bank reported a 53% YoY increase in net profit to Rs 578 crore for the quarter ended December (Q3 FY22). Its net interest income (NII) rose 31% YoY to Rs 2,383 crore during the same period. [NII is the difference between the interest income earned on loans and the interest paid on deposits]. The gross non-performing assets (GNPA) ratio stood at 20.56% in Q3 FY22, compared to 23.52% in Q3 FY21. Provisions fell 11% YoY to Rs 1,189 crore in Q3 FY22.

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Vodafone Idea Q3 Results: Net loss widens to Rs 7,231 crore

Vodafone Idea Ltd (Vi) reported a net loss of Rs 7,231 crore for the quarter ended December (Q3 FY22). It had reported a net loss of Rs 4,532 crore in Q3 FY21. Its revenue from operations fell 10.8% YoY to Rs 9,717 crore in Q3 FY22. Vi’s average revenue per user (ARPU) for the quarter stood at Rs 115, up 5.2% quarter-on-quarter (QoQ). The total gross debt of the company stood at Rs 1,98,980 crore as of December 31, 2021.

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