Cadila Healthcare Q2 Results: Net profit jumps over six-fold YoY to Rs 3,002 crore
Cadila Healthcare Ltd reported a 534.2% YoY jump in consolidated net profit to Rs 3,002.3 crore for the quarter ended September (Q2 FY22). Net profit jumped 411.29% compared to the previous quarter. Adjusted for exceptional items and one-off gain on the account of sale of a subsidiary, profit after tax stood at Rs 597 crore, up 6% YoY. Its revenue from operations rose 3.4% YoY to Rs 3,784.8 crore during the same period. The sales from its India business grew 12% YoY to Rs 1,591 crore in Q2.
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Tata Steel partners with Tata Power to set up 41 MW solar project in Jharkhand, Odisha
Tata Steel and Tata Power have come together to develop a grid-connected solar project in Jharkhand and Odisha. The companies have signed a Power Purchase Agreement (PPA) for a period of 25 years to set up a 41 megawatt (MW) solar project. It will be a combination of rooftop, floating, and ground-mounted solar panels. Under this partnership, Tata Power will develop photovoltaic (PV) capacities for Tata Steel at Jamshedpur (21.97 MWp) and Kalinganagar (19.22 MWp).
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UPL Q2 Results: Net profit rises 36.4% YoY to Rs 633 crore
UPL Limited reported a 36.4% YoY increase in consolidated net profit to Rs 633 crore for the quarter ended September (Q2 FY22). Net profit fell 6% compared to the previous quarter. Its revenue from operations rose 18% YoY (or 24% QoQ) to Rs 10,567 crore during the same period.
Tata Motors secures order for 3,500 XPRES-T EV units from BluSmart Mobility
Tata Motors has received an order for 3,500 XPRES-T EV units from electric ride-hailing platform BluSmart Mobility. The XPRES-T EV sedan comes with optimal battery size, captive fast charging solution, which ensures low cost of ownership in addition to safety and passenger comfort. With this order, BluSmart Mobility aims to expand its all-electric fleet multi-fold across Delhi NCR.
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Vedanta Q2 Results: Net profit jumps multi-fold YoY to Rs 4,615 crore
Vedanta Ltd reported a 451% YoY jump in consolidated net profit to Rs 4,615 crore for the quarter ended September (Q2 FY22). Net profit increased 9% compared to the previous quarter. Its revenue from operations rose 44% YoY (or 7% QoQ) to Rs 30,048 crore during the same period. EBITDA stood at Rs 10,582 crore in Q2, a growth of 62% YoY. Higher revenues were supported by improved commodity prices and higher volumes across businesses.
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IndusInd Bank raises Rs 2,800 crore debt capital via bonds
IndusInd Bank has raised Rs 2,800 crore by issuing bonds on a private placement basis. The Finance Committee of the bank’s board has approved the allotment of 2,800 rated, listed, non-convertible, and unsecured Basel-III compliant bonds in the nature of debentures. The bonds carry a coupon rate of 8.11% payable annually. It will mature in 10 years.
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Dr Reddy’s Labs Q2 Results: Net profit rises 30% YoY to Rs 992 crore
Dr. Reddy’s Laboratories Ltd reported a 30% YoY increase in consolidated net profit to Rs 992 crore for the quarter ended September (Q2 FY22). Net profit surged 1.6 times over the previous quarter. Its revenue from operations rose 18% YoY to Rs 5,763 crore during the same period. The pharma company’s proprietary products business registered a 195% YoY jump in sales to Rs 182.9 crore in Q2.
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Vodafone Idea’s board approves deferment of AGR dues payment for four years
Vodafone Idea’s board has approved opting for a four-year moratorium on adjusted gross revenue (AGR) payments. Vi has now accepted both spectrum and AGR moratorium, which will help the cash-strapped telecom operator save ~Rs 1 lakh crore. The company’s decision comes on the back of a relief package announced by the government last month.
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BPCL Q2 Results: Net profit rises 79% QoQ to Rs 2,694 crore
Bharat Petroleum Corporation Ltd (BPCL) reported a 20% YoY increase in net profit to Rs 2,694 crore for the quarter ended September (Q2 FY22). Net profit increased 79.4% compared to the previous quarter. Its revenue from operations rose 15% QoQ to Rs 81,536.7 crore during the same period. Sales volumes rose 2.9% QoQ to 9.91 million metric tonnes (MMT) in Q2. BPCL’s board has declared an interim dividend of Rs 5 per share.
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Adani Power Q2 Results: Net loss at Rs 230 crore
Adani Power reported a consolidated net loss of Rs 230.6 crore for the quarter ended September (Q2 FY22). It had posted a net profit of Rs 2,228.05 crore in the corresponding period last year (Q2 FY21). Its total income fell 36.6% YoY to Rs 5,572 crore in Q2 FY22. EBITDA stood at Rs 1,551 crore, a decline of 69.5% YoY.
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Shree Cement Q2 Results: Net profit rises 6% YoY to Rs 577 crore
Shree Cement reported a 5.6% YoY increase in net profit to Rs 577.7 crore for the quarter ended September (Q2 FY22). Net profit fell 25% compared to the previous quarter. Its revenue from operations rose 5% YoY to Rs 3,205.9 crore during the same period. The company’s cost of raw materials rose 7.2% YoY to Rs 215.7 crore in Q2.
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