Vodafone Idea Q3 Results: Net loss at Rs 4,532 crore

Vodafone Idea Ltd (Vi) reported a consolidated net loss of Rs 4,532.4 crore for the quarter ended December (Q3). It had posted a net loss of Rs 7,218.5 crore in the corresponding quarter last year. The company’s revenue grew 1% YoY to Rs 10,894 crore during the same period. Vi saw a one-time net gain of Rs 1,696.5 crore in Q3, which includes gains made on the sale of its stake in Indus Towers. The telecom operator’s average revenue per user (ARPU) improved to Rs 121, compared to Rs 119 in the previous quarter (Q2 FY21).

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ONGC Q3 Results: Net profit falls 67% YoY to Rs 1,378 crore

Oil and Natural Gas Corporation (ONGC) reported a 67.4% YoY decline in net profit to Rs 1,378 crore for the quarter ended December (Q3). Its revenue fell 28% YoY to Rs 17,024 crore during the same period. ONGC’s crude oil production during the quarter declined 3.3% YoY, while gas output declined 6% YoY. The company’s board has declared an interim dividend of Rs 1.75 per share.

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Power Grid to acquire 74% stake of Jaiprakash Power in JV

Power Grid Corporation said its board has approved a proposal to acquire 74% stake of the joint venture partner in Jaypee POWERGRID Ltd (JPL). JPL is a joint venture between Power Grid and Jaiprakash Power Ventures Ltd. The company said the acquisition would be completed within the current fiscal year.

Amara Raja Batteries Q3 Results: Net profit rises 18% YoY to Rs 194 crore

Amara Raja Batteries Ltd (ARBL) reported a 17.98% YoY jump in consolidated net profit to Rs 193.69 crore for the quarter ended December (Q3). Its revenue from operations rose 12.18% YoY to Rs 1,960.43 crore during the same period. The company has announced plans to set up a greenfield lead recycling unit with a capacity of 1 lakh tonnes. This would help ARBL to comply with recycling standards while adopting advanced technology in the most eco-friendly manner. ARBL’s board has approved an interim dividend of Rs 5 per share.

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Ircon International Q3 Results: Net profit rises 35% YoY to Rs 103 crore

Ircon International Ltd reported a 35% YoY increase in net profit to Rs 103 crore for the quarter ended December (Q3). Its revenue from operations rose 29% YoY to Rs 1,244 crore during the same period. Ircon announced it has secured new orders worth around Rs 3,983 crore in the current financial year (Q4 FY21).

Godrej Industries to diversify into housing finance business

Godrej Industries Ltd announced that Godrej Housing Finance Ltd (GHFL) has recently obtained a license to operate as a Housing Finance Company. GHFL is owned by the Godrej Family through Anamudi Real Estates LLP. To pursue the opportunity in the housing finance business, the Board of Godrej Industries has approved the proposal of acquiring shares of GHFL from Anamudi. 

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Prabhat Dairy Q3 Results: Net profit declines 14% YoY to Rs 8 crore

Prabhat Dairy reported a 14.17% YoY decline in net profit to Rs 8.78 crore for the quarter ended December (Q3). Its total revenue declined 53% YoY to Rs 102.89 crore during the same period. Prabhat Dairy is an integrated milk and dairy products company in Maharashtra, catering to institutional and retail customers.

IRFC Q3 Results: Net profit rises 15% YoY to Rs 1,046 crore

Indian Railway Finance Corporation (IRFC) reported a 15.4% YoY increase in net profit to Rs 1,046.74 crore for the quarter ended December (Q3). Its total revenue rose 8.01% YoY to Rs 3,932.46 crore during the same period. On February 12, IRFC listed its $750 million (~Rs 5,444 crore) medium-term note on India International Exchange’s (India INX) debt listing platform. The issue is part of the company’s $4-billion (~Rs 29,000 crore) global medium-term note programme.

Delta Corp Q3 Results: Net profit at Rs 1.25 crore

Delta Corp Ltd reported a net profit of Rs 1.25 crore for the quarter ended December (Q3). It had posted a net profit of 55.07 crore in the corresponding quarter last year. The gaming and hospitality company’s revenue declined 39.58% YoY to Rs 128.93 crore in Q3 FY21.

Sadbhav Engineering Q3 Results: Net profit loss at Rs 24.32 crore

Sadbhav Engineering Ltd reported a consolidated net loss of Rs 24.32 crore in the quarter ended December (Q3). It had posted a net loss of Rs 69.79 crore in the corresponding quarter last year. The company’s total revenue rose 2.12% YoY to Rs 695.76 crore in Q3 FY21. Sadbhav Engineering is a civil engineering construction company based in Gujarat.

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