Reliance Industries Q2 Results: Net profit rises 43% YoY to Rs 13,680 crore

Reliance Industries Ltd (RIL) reported a 43% YoY increase in net profit to Rs 13,680 crore for the quarter ended September (Q2 FY22). Net profit increased by 11% compared to the previous quarter. Its revenue from operations rose 49% YoY (or 21% QoQ) to Rs 1.74 lakh crore during the same period. The company posted a record quarterly consolidated operating profit of Rs 30,283 crore, an growth of 30% YoY.

 Jio Platforms reported a net profit of Rs 3,728 crore in Q2, up 23% YoY. Its revenue from operations rose ~7% YoY (or 4.4% QoQ) to Rs 19,777 crore.

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Tata Consumer Q2 Results: Net profit rises 4% YoY to Rs 268 crore

Tata Consumer Products Ltd (TCPL) reported a 4.2% YoY increase in consolidated net profit to Rs 268.04 crore for the quarter ended September (Q2 FY22). Net profit increased by 44.77% compared to the previous quarter. Its revenue from operations rose 9.1% YoY to Rs 3,033.1 crore during the same period. TCPL’s revenue growth in Q2 was aided by a 14% YoY rise in the India beverages segment and a 23% YoY rise in the India foods business.

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Adani Green’s subsidiary secures 450 MW wind energy project

Adani Renewable Energy Holding Fifteen Ltd (AREHFL) has received a Letter of Award (LOA) for setting up a 450 megawatt (MW) wind energy project. AREHFL is a subsidiary of Adani Green Energy Ltd (AGEL). The fixed tariff for this project capacity is Rs 2.70 per kilowatt-hour (kWh) for 25 years. With this, AGEL has a total renewable energy project portfolio of 20,284 MWac capacity

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HDFC Life Q2 Results: Net profit falls 16% YoY to Rs 276 crore

HDFC Life Insurance reported a 16% YoY decline in consolidated net profit to Rs 275.91 crore for the quarter ended September (Q2 FY22). Its total income rose 24.6% YoY to Rs 20,478.46 crore during the same period. HDFC Life’s net premium income (NPI) stood at Rs 11,445.33 crore in Q2 FY22, compared to Rs 10,056.71 crore in Q1 FY21.

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RBI announces scale-based regulatory framework for NBFCs

The Reserve Bank of India (RBI) has introduced a revised scale-based regulatory framework for non-banking financial companies (NBFCs). The framework encompasses different aspects of regulation of NBFCs, including capital requirements, governance standards, and prudential regulation. There will also be a ceiling of Rs 1 crore per borrower for financing subscription to an Initial Public Offer (IPO). It will be effective from October 1, 2022.

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PVR Q2 Results: Net loss at Rs 153 crore

PVR Limited reported a consolidated net loss of Rs 153.13 crore for the quarter ended September (Q2 FY22). It had posted a net loss of Rs 184.06 crore in the corresponding quarter last year (Q2 FY21). Its revenue from operations jumped nearly three-fold YoY to Rs 120.32 crore in Q2 FY22. PVR’s total expenses rose 18.31% YoY to Rs 460.68 crore during the same period.

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Hindustan Zinc Q2 Results: Net profit rises 4% YoY to Rs 2,017 crore

Hindustan Zinc Ltd (HZL) reported a 3.9% YoY increase in net profit to Rs 2,017 crore for the quarter ended September (Q2 FY22). Its revenue from operations rose 7.6% YoY to Rs 5,958 crore during the same period. The company’s total expenses increased by 4.2% YoY to Rs 3,571 crore in Q2. HZL said it is progressing well on its Environmental, Social, and Governance (ESG) journey and has committed to Net Zero emissions by 2050.  

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Federal Bank Q2 Results: Net profit rises nearly 50% YoY to Rs 460 crore

Federal Bank reported a nearly 50% YoY increase in net profit to Rs 460.26 crore for the quarter ended September (Q2 FY22). Net profit rose ~25% compared to the previous quarter. Its net interest income (NII) rose 7% YoY to Rs 1,479.4 crore during the same period. The bank’s gross non-performing assets (GNPA) ratio stood at 3.24% in Q2, compared to 3.50% in the previous quarter. Provisions declined by 53.9% YoY (or 54.8% QoQ) to Rs 245 crore in the July-Sept quarter of FY22. 

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Paytm gets SEBI approval for Rs 16,600 crore IPO

One97 Communications, the parent company of fintech platform Paytm, has received approval from market regulator SEBI to launch its Rs 16,600 initial public offering (IPO). The IPO comprises a fresh issue of shares of up to Rs 8,300 crore and an offer for sale (OFS) of up to Rs 8,300 crore. The proceeds from the IPO will be used to strengthen Paytm’s payment ecosystem and for new business initiatives and acquisitions.

In other news, FSN E-Commerce Ventures will open its IPO on October 28 (next Thursday). The company runs Nykaa, an online marketplace for beauty and wellness products. The price band of the IPO is fixed at Rs 1,085-1,125 per share. 

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Tata Elxsi Q2 Results: Net profit rises 59% YoY to Rs 125 crore

Tata Elxsi Ltd reported a 58.9% YoY increase in net profit to Rs 125.33 crore for the quarter ended September (Q2 FY22). Net profit increased 10.55% compared to the previous quarter. The IT company’s revenue from operations rose 38.4% YoY (or 6.6% QoQ) to Rs 595.3 crore during the same period. 

Yes Bank Q2 Results: Net profit rises 74% YoY to Rs 225 crore

Yes Bank reported a 74.3% YoY increase in net profit to Rs 225 crore for the quarter ended September (Q2 FY22). Net profit increased ~9% compared to the previous quarter. Its net interest income (NII) fell 23.4% YoY to Rs 1,512 crore during the same period. The bank’s gross non-performing assets (GNPA) ratio stood at 15% in Q2, compared to 15.6% in the previous quarter. Provisions declined by 65% YoY to Rs 377 crore in the July-Sept quarter of FY22. 

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