Divi’s Labs Q1 Results: Net profit rises 13% YoY to Rs 557 crore
Divi’s Laboratories Ltd reported a 13.2% YoY increase in consolidated net profit to Rs 557.11 crore for the quarter ended June (Q1 FY22). Net profit has increased by 10.9% when compared to the previous quarter. Its total income rose 14.2% YoY (or 10.2% QoQ) to Rs 1,997 crore during the same period. The pharma company’s foreign exchange (forex) gain stood at Rs 20 crore in Q1, compared to Rs 5 crore in the corresponding quarter last year.
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PM Modi pushes for higher exports in post-pandemic world
Prime Minister Narendra Modi has asked industry representatives in India to look at ways to increase exports. This move could help boost employment in our economy, which is still recovering from a Covid-19-induced slowdown. The Central government has set a target of $400 billion worth of merchandise exports in the current financial year (FY22). India has met nearly a third of its annual target in the first four months of FY22.
“At present, our exports are about 20% of GDP. Considering the size of our economy, our potential, the base of our manufacturing and service industry, it has the potential to grow a lot,” said PM Modi.
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Bank of Baroda Q1 Results: Net profit at Rs 1,208 crore
Bank of Baroda reported a standalone net profit of Rs 1,208 crore for the quarter ended June (Q1 FY22). It had posted a net loss of Rs 864 crore in the corresponding quarter last year (Q1 FY21). Net interest income (NII) increased by 15.7% YoY to Rs 7,892 crore in Q1 FY22. The gross non-performing assets (GNPA) ratio stayed flat at Rs 8.86% compared to the previous quarter. Bank of Baroda’s provisions fell 23% YoY to Rs 5,349 crore in the April-June quarter of FY22.
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Johnson & Johnson’s Covid-19 vaccine gets approval for emergency use in India
Global healthcare major Johnson & Johnson (J&J) has received Emergency Use Authorisation (EUA) for its single-dose Covid-19 vaccine in India. The vaccine will be brought to our country through a supply agreement with homegrown vaccine marker Biological E Limited. Studies have shown that J&J’s vaccine is 66% effective in preventing cases of moderate-to-severe illness and 85% effective against severe cases of Covid-19.
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Affle India Q1 Results: Net profit rises 90% YoY to Rs 35 crore
Affle (India) Ltd reported a 90.3% YoY increase in consolidated net profit to Rs 35.72 crore for the quarter ended June (Q1 FY22). Net profit has declined by 38.9% when compared to the previous quarter. Its revenue from operations rose 69.85% YoY to Rs 152.47 crore during the same period. Affle (India) is a leading provider of mobile advertising services through information technology and software development services.
Power Mech Projects: Net profit declined by 12% QoQ to Rs 31 crore
Power Mech Projects Ltd reported an 11.86% quarter-on-quarter (QoQ) decline in consolidated net profit to Rs 31.43 crore for the quarter ended June (Q1 FY22). It had posted a net loss of Rs 32.6 crore in the corresponding quarter last year (Q1 FY21). Its total income fell 17.35% QoQ (but increased by 126.8% YoY) to Rs 628.05 crore during the same period.
Amber Enterprises Q1 Results: Net profit falls 83% QoQ to Rs 12 crore
Amber Enterprises India Ltd reported an 83.5% QoQ decline in consolidated net profit to Rs 12.42 crore for the quarter ended June (Q1 FY22). It had posted a net loss of Rs 22.4 crore in the corresponding quarter last year (Q1 FY21). Its total income fell 55.5% QoQ (but increased by 172.4% YoY) to Rs 715.02 crore during the same period. Amber Enterprises provides solutions to air conditioner original equipment manufacturers (OEMs) and original design manufacturers (ODMs) in India.
Quick Heal Technologies Q1 Results: Net profit falls 75% YoY to Rs 6.18 crore
Quick Heal Technologies Ltd reported a 75.23% YoY decline in consolidated net profit to Rs 6.18 crore for the quarter ended June (Q1 FY22). Net profit has declined by 84.44% when compared to the previous quarter. Its total income fell 23.5% YoY (or 45% QoQ) to Rs 61.03 crore during the same period. Pune-based Quick Heal Tech is a leading IT security solutions company.
DCB Bank Q1 Results: Net profit falls 57% YoY to Rs 33 crore
DCB Bank reported a 57.4% YoY decline in consolidated net profit to Rs 33.76 crore for the quarter ended June (Q1 FY22). Net profit has declined by 56.7% when compared to the previous quarter. Its total income rose 1.5% YoY to Rs 965.67 crore during the same period. The gross non-performing assets (GNPA) ratio increased to 4.87% in Q1 FY22, compared to 2.44% in Q1 FY21 and 4.09% in Q4 FY21. Provisions for bad loans stood at Rs 155.54 crore in the April-June quarter of FY22, up 85% YoY.
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Dodla Dairy Q1 Results: Net profit rises 12% YoY to Rs 36 crore
Dodla Dairy Ltd reported an 11.9% YoY increase in consolidated net profit to Rs 36.07 crore for the quarter ended June (Q1 FY22). Net profit has jumped 276.5% when compared to the previous quarter. Its total income rose 12.8% YoY to Rs 514.65 crore during the same period. Dodla Dairy is an integrated dairy company based in South India. It produces and sells milk, ghee, flavoured milk, curd, etc.
