Vodafone Idea Q1 Results: Net loss at Rs 7,319 crore

Vodafone Idea Ltd (Vi) reported a net loss of Rs 7319.1 crore for the quarter ended June (Q1 FY22). It had posted a net loss of Rs 7,022.8 crore in the previous quarter (Q4 FY21). The telecom operator’s revenue fell 4.7% QoQ (or 14% YoY) to Rs 9,152.3 crore during the same period. Its wireless subscriber base stood at 25.54 crore as of June 2021, as it lost 1.23 crore subscribers since March. The average revenue per user (ARPU) stood at Rs 104 in Q1 FY22, compared to Rs 107 in Q4 FY21.

Vi’s gross debt stands at Rs 1,91,590 crore, including deferred spectrum payment obligations of Rs 1.06 lakh crore and AGR liabilities of Rs 62,180 crore.

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Sobha Q1 Results: Net profit rises 73% YoY to Rs 11 crore

Sobha Limited reported a 73% YoY increase in consolidated net profit to Rs 11.4 crore for the quarter ended June (Q1 FY22). Its total income rose 46.1% YoY to Rs 525 crore during the same period. The company’s cash flows remained healthy during the April-June quarter (Q1), which resulted in a reduction in net debt. Bengaluru-based Sobha Ltd is one of the leading real estate developers in India.

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Amara Raja Batteries Q1 Results: Net profit doubles to Rs 167 crore

Amara Raja Batteries Ltd (ARBL) reported a 98.8% YoY increase in net profit to Rs 167 crore for the quarter ended June (Q1 FY22). Its revenue from operations rose 63.85% YoY to Rs 1,886 crore during the same period. ARBL said automotive segment revenue grew on the back of strong growth in exports compared to last year. The company’s telecom and UPS applications registered strong year-on-year (YoY) growth in Q1.

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NTPC invites EOI to set up pilot project on hydrogen blending with natural gas

NTPC Limited has floated a global Expression of Interest (EOI) to set up a pilot project on hydrogen blending with natural gas in city gas distribution networks. The project will be the first of its kind in India and will explore the viability of decarbonizing India’s natural gas grid. State-run NTPC is also exploring the production of green ammonia to decarbonize the fertilizer industry. It aims to fulfill the government’s upcoming mandate of using a certain percentage of green hydrogen in the fertiliser and refinery sector.

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SJVN Q1 Results: Net profit rises 13% YoY to Rs 342.13 crore

SJVN Limited reported a 13% YoY increase in consolidated net profit to Rs 342.13 crore for the quarter ended June (Q1 FY22). Its total income declined by 1.3% YoY to Rs 704.9 crore during the same period. Currently, SJCN has a portfolio of more than 9,000 MW and is executing 27 projects in the hydro, thermal, solar, and wind sectors in India. The state-run company announced that it has secured a 200 megawatt (MW) grid-connected solar PV power project worth Rs 1,000 crore in Bihar.

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ONGC Q1 Results: Net profit jumps 772% YoY to Rs 4,335 crore

Oil and Natural Gas Corp (ONGC) reported a 772% YoY increase in net profit to Rs 4,334.8 crore for the quarter ended June (Q1 FY22). Net profit has declined by 35.6% when compared to the previous quarter. Its revenue from operations rose 77% YoY (or 8.6% QoQ) to Rs 23,021.6 crore during the same period. ONGC’s net crude realisation (price after the deduction of subsidies) rose 13% QoQ to $65.59 in Q1.

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VLCC Health Care files DRHP to raise funds via IPO

VLCC Health Care Ltd has filed a Draft Red Herring Prospectus (DRHP) with market regulator SEBI to raise funds through an initial public offering (IPO). It is one of the largest players in the wellness and beauty services industry in India. The IPO comprises a fresh issue of equity shares worth Rs 300 crore and an offer for sale (OFS) of up to 89.2 lakh shares by promoters and shareholders. The proceeds from the IPO will be used to set up VLCC Wellness clinics in India and Gulf Cooperation Council (GCC) region. 

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Minda Industries Q1 Results: Net profit at Rs 15.4 crore

Minda Industries Ltd reported a net profit of Rs 15.42 crore for the quarter ended June (Q1 FY22). It had reported a net loss of Rs 134.5 crore in the corresponding quarter last year (Q1 FY21). The company’s revenue from operations jumped 242.5 YoY to Rs 1,602.55 crore in Q1 FY22. Minda Industries is a leading manufacturer and supplier of automotive solutions to original equipment manufacturers (OEMs).

India’s exports rise 49.85% to $35.43 billion in July; trade deficit at $10.97 billion 

India’s total exports increased by 49.85% YoY to $35.43 billion (~Rs 2.62 lakh crore) in July 2021. This can be attributed to the recovery in global markets and strong demand. There was healthy growth in the petroleum, engineering, and gems & jewelry segments in July. Imports rose 63% YoY to $46.4 billion (~Rs 3.44 lakh crore) during the same month. The trade deficit stood at (-) $10.97 billion in July 2021, compared to 4.83 billion in July 2020. India’s oil exports jumped 97.45% YoY to $12.89 billion in July 2021. 

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