UltraTech Cement Q3 Results: Net profit rises 8% YoY to Rs 1,708 crore

UltraTech Cement Ltd reported a 7.8% YoY increase in consolidated net profit to Rs 1,708 crore for the quarter ended December (Q3 FY22). Net profit increased 31% when compared to the previous quarter. Its revenue from operations rose 5.89% YoY (or 8% QoQ) to Rs 12,985 crore during the same period. The company’s domestic cement sales volumes grew 13.2% YoY in Q3.

The cement manufacturer has approved a capital expenditure of Rs 965 crore for capacity expansion at Birla White from 6.5 lakh tonnes per annum (LTPA) to 12.53 LTPA.

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Tata Power Renewable Energy commissions 100 MW solar projects in Uttar Pradesh

Tata Power Renewable Energy Ltd (TPREL) has commissioned two solar power projects of 50 megawatts (MW) each in Uttar Pradesh. The plants are expected to generate more than 221.26 million units annually. A Power Purchase Agreement (PPA) was signed between TPREL and Uttar Pradesh Power Corporation Ltd (UPPCL) for these two projects. The plants at Prayagraj and Banda will reduce 1.77 lakh tonnes of carbon emission annually.

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L&T dispatches critical reactors to US for renewable diesel project ahead of schedule

Larsen & Toubro’s (L&T) heavy engineering arm has flagged off five critical renewable diesel reactors to Diamond Green Diesel (DGD) two weeks ahead of the contractual delivery date. DGD is North America’s largest renewable diesel producer. L&T is executing three such green diesel projects for US and European clients at its fully integrated, digitally-enabled heavy engineering complex located at Hazira, Gujarat.

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HFCL Q3 Results: Net profit falls 5% YoY to Rs 78 crore

HFCL Ltd reported a 5% YoY decline in consolidated net profit to Rs 81 crore for the quarter ended December (Q3 FY22). Net profit fell 4% when compared to the previous quarter. Its revenue from operations fell 5% YoY to Rs 1,215 crore during the same period. EBITDA stood at Rs 174 crore, up 4% YoY. The company has raised Rs 600 crore via a qualified institutional placement (QIP). The amount will be utilised to build network solution capabilities to tap the upcoming opportunities in the telecom and defence sectors.

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Tech Mahindra acquires European firm CTC for Rs 2,628 crore

Tech Mahindra has announced the acquisition of a 100% stake in Europe-based Com tec Co IT (CTC) for €310 million (~Rs 2,628 crore). The company is also investing €20 million for acquiring 25% ownership in two IT platforms (SWFT and Surance) of CTC. Tech Mahindra stated that the acquisitions will strengthen its digital engineering and insurance technology businesses.

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Ajmera Realty to invest Rs 900 crore to develop residential project in Mumbai

Ajmera Realty & Infra India Ltd has announced plans to invest Rs 900 crore to develop a residential project as part of its 100-acre master layout in Wadala, Mumbai. The financing of the project will be supported through a mix of internal accruals, a construction finance loan from HDFC, and sales advances. The project is estimated to drive a sales value of Rs 1,500 crore. It will comprise 540 residential apartments across two wings.

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Bajaj Auto to set up third EV plant in Aurangabad

Bajaj Auto Ltd will set up its third electric vehicle (EV) plant in Aurangabad, Maharashtra. The company had earlier announced the rollout of its new EV two-wheeler plant in Pune, where it will be spending Rs 300 crore to manufacture the new electric scooter Chetak. Reports indicate that the new facility in Aurangabad will manufacture a range of electric three-wheelers.

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Bhansali Engineering Q3 Results: Net profit falls 44% YoY to Rs 75 crore

Bhansali Engineering Polymers Ltd (BEPL) reported a 44.4% YoY decline in consolidated net profit to Rs 75.71 crore for the quarter ended December (Q3 FY22). Net profit fell 4% when compared to the previous quarter. Its revenue from operations fell 17% YoY to Rs 341.52 crore during the same period. Total expenses rose 7% YoY to Rs 246.34 crore in Q3. BEPL has declared an interim dividend of Rs 1 per share. 

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KEC International secures orders worth Rs 1,112 crore

KEC International Ltd has secured new orders worth Rs 1,112 crores across its various businesses. The company’s transmission & distribution (T&D) business secured orders for T&D projects in the Middle East and the Americas. Its civil business segment has received orders for infrastructure works in the water pipeline and urban infra segments in India. KEC International’s cable business has bagged orders from India and overseas.  

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Sonata Software Q3 Results: Net profit rises 81% YoY to Rs 97 crore

Sonata Software Ltd reported an 81.5% YoY increase in consolidated net profit to Rs 97.67 crore for the quarter ended December (Q3 FY22). Net profit rose 7% when compared to the previous quarter. Its revenue from operations rose 33% YoY (or 93% QoQ) to Rs 1,858.02 crore during the same period. EBITDA grew 29% YoY to Rs 146.9 crore in Q3. Sonata Software provides IT consulting, product engineering services, and application development solutions. 

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Angel One Q3 Results: Net profit jumps 125% YoY to Rs 164 crore

Angel One reported a 125% YoY jump in consolidated net profit to Rs 164 crore for the quarter ended December (Q3 FY22). Net profit rose 23% when compared to the previous quarter. Its revenue from operations rose 95% YoY (or 13% QoQ) to Rs 597 crore during the same period. EBITDA stood at Rs 234 crore in Q3, up 121% YoY. Angel One has declared an interim dividend of Rs 7 per share.

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