Adani Ports Q1 Results: Net profit rises 72% YoY to Rs 1,307 crore
Adani Ports & Special Economic Zone (APSEZ) reported a 72% YoY increase in consolidated net profit to Rs 1,307 crore for the quarter ended June (Q1 FY22). Net profit has increased by 1.5% when compared to the previous quarter. Its revenue from operations rose 99% YoY (or 26% QoQ) to Rs 4,557 crore during the same period. Cargo volumes increased by 83% YoY to Rs 75.7 million tonnes (MT) in Q1. The revenue from its ports business rose 75% YoY to Rs 3,339 crore during the April-June quarter.
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Union Bank of Philippines selects Infosys Finacle’s digital banking solution suite
Infosys Finacle announced that the Union Bank of Philippines (UBP) will migrate from an on-premise deployment to the state-of-the-art Finacle Digital Banking Solution Suite on Cloud. Over 8 million customer accounts will be considered for migration to the new software-as-a-service (SaaS) platform. Infosys Finacle is a part of EdgeVerve Systems, a wholly-owned subsidiary of Infosys Limited.
Today, Infosys Limited became the fourth Indian firm to hit Rs 7 lakh crore in market capitalization. Its shares have surged over 72% in the past year.
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Bharti Airtel Q1 Results: Net profit falls 63% QoQ to Rs 284 crore
Bharti Airtel Ltd reported a 62.7% quarter-on-quarter (QoQ) decline in net profit to Rs 284 crore for the quarter ended June (Q1 FY22). It had posted a net loss of Rs 15,933 crore in Q1 FY21 due to one-time provisioning for AGR dues. Its revenue from operations rose 4.3% QoQ to Rs 26,854 crore in Q1 FY22. Bharti Airtel’s average revenue per user (ARPU) stood at Rs 146 during the same period, compared to Rs 145 in the previous quarter.
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Dabur Q1 Results: Net profit rises 28% YoY to Rs 438 crore
Dabur India Ltd reported a 28% YoY increase in net profit to Rs 438 crore for the quarter ended June (Q1 FY22). Net profit has increased by 15.7% when compared to the previous quarter. Its revenue from operations rose 31.9% YoY (or 11.8% QoQ) to Rs 2,611.5 crore during the same period. The FMCG company posted a 34.4% YoY increase in volume growth in Q1. EBITDA increased 32.5% YoY to Rs 552 crore during the April-June quarter of FY22.
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MG Motor partners with Reliance Jio for IoT solutions for upcoming SUV
MG Motor India has partnered with Reliance Jio to power its mid-sized SUV with Jio Internet of Things (IoT) solutions. Under the partnership, Jio’s 4G network will provide high-speed, in-car connectivity to customers of MG’s upcoming mid-sized SUV in metro cities as well as in small towns and rural areas. Jio’s eSIM, IoT, and streaming solutions will enable MG users to access real-time connectivity, infotainment, and telematics.
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Tata Consumer Q1 Results: Net profit declines 43% YoY to Rs 185 crore
Tata Consumer Products Ltd reported a 43.48% YoY decline in consolidated net profit to Rs 185.15 crore for the quarter ended June (Q1 FY22). However, net profit has jumped 243.51% when compared to the previous quarter. Its total income rose 10.55% YoY to Rs 3,036.47 crore during the same period. EBITDA fell 17% YoY to Rs 398 crore in Q1.
SJVN hydropower plants record highest ever monthly generation in July
SJVN Limited’s Nathpa Jhakri Hydro Power Station has achieved its highest-ever monthly power generation of 1216.56 million units on July 31, 2021. Its previous record stood at 1213.10 million units. The company’s Rampur Hydro Power Station generated 335.90 million units of power in July, surpassing its previous record of 333.69 MU. India’s power generation companies are currently benefiting from the surge in electricity demand.
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Inox Leisure Q1 Results: Net loss at Rs 122 crore
Inox Leisure reported a consolidated net loss of Rs 122.28 crore for the quarter ended June (Q1 FY22). It had posted a net loss of Rs 73.64 crore in the corresponding period last year (Q1 FY22). Its total income stood at Rs 25.50 crore in Q1 FY22, compared to Rs 2.97 crore in Q1 FY21. The second wave of the Covid-19 pandemic resulted in the closure of cinemas, which severely affected its revenues. Inox Leisure operates 153 multiplexes with 648 screens in 69 cities across the country.
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Nykaa files DRHP to raise funds via IPO
Nykaa, an e-commerce startup for beauty products, has filed a Draft Red Herring Prospectus (DRHP) with market regulator SEBI to raise funds via an initial public offering (IPO). FSN E-Commerce Ventures (the parent company) is looking to raise Rs 525 crore through a fresh issue of shares. The IPO also consists of an offer for sale (OFS) by existing shareholders and promoters. The company will utilise the net proceeds from the IPO to open new retail stores and reduce debt.
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Indian Overseas Bank Q1 Results: Net profit jumps 170% YoY to Rs 327 crore
Indian Overseas Bank (IOB) reported a 170% YoY jump in net profit to Rs 327 crore for the quarter ended June (Q1 FY22). Net profit has declined by 6.6% when compared to the previous quarter. Its total income declined by 1.5% YoY to Rs 5,234 crore during the same period. The gross non-performing assets (GNPA) ratio stood at 11.48% in Q1 FY22, compared to 11.69% in Q1 FY21. IOB’s provisions for bad loans and contingencies fell 11% YoY to Rs 970 crore in the April-June quarter of FY22.
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Alkyl Amines Q1 Results: Net profit rises 48% YoY to Rs 78.5 crore
Alkyl Amines Ltd reported a 48.6% YoY increase in net profit to Rs 78.5 crore for the quarter ended June (Q1 FY22). Net profit has declined by 15.1% when compared to the previous quarter. Its revenue from operations rose 60% YoY to Rs 391.8 crore during the same period. Mumbai-based Alkyl Amines is a leading manufacturer of specialty chemicals.
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