GAIL Q1 Results: Net profit falls 19% QoQ to Rs 1,530 crore
GAIL (India) Ltd reported a 19.8% quarter-on-quarter (QoQ) decline in net profit to Rs 1529.9 crore for the quarter ended June (Q1 FY22). Net profit has jumped ~500% when compared to the corresponding period last year. Its revenue from operations rose 11.8% QoQ to Rs 17,383.9 crore in Q1. GAIL’s natural gas marketing and liquefied petroleum gas (LPG) gas volumes rose 19.2% QoQ and 17.3% QoQ, respectively in the April-June quarter of FY22.
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Bharti Airtel partners with Google Cloud, Cisco to launch Airtel Office Internet
Bharti Airtel Ltd has announced the launch of Airtel Office Internet in partnership with Google Cloud and Cisco. The enterprise-grade solution will accelerate the digital transformation of small businesses, small offices/home offices (SOHOs), and tech startups. Plans start at Rs 999 and come with a range of add-on services like Static Internet Protocol (IP) addresses and parallel ringing. Airtel Office Internet comes as a unified solution with one plan and one bill. It offers FTTH broadband with symmetric speeds up to 1Gbps and unlimited local/STD calls.
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Adani Transmission Q1 Results: Net profit rises 22% YoY to Rs 433 crore
Adani Transmission Ltd reported a 21.9% YoY increase in consolidated net profit to Rs 433.24 crore for the quarter ended June (Q1 FY22). Net profit has increased by 68.87% when compared to the previous quarter. Its total income rose 15.45% YoY (or 2.1% QoQ) to Rs 2,935.72 crore during the same period. The company’s transmission business delivered an operational revenue of Rs 757 crore in Q1, registering a growth of 11.4% YoY.
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Alembic Pharma gets USFDA approval for OCD treatment drug
Alembic Pharmaceuticals Ltd has received final approval from the US Food & Drug Administration (USFDA) for Clomipramine Hydrochloride capsules. The drug is used to treat obsessions and compulsions in patients with Obsessive-Compulsive Disorder (OCD). According to IQVIA data, the estimated market size of the capsules for the 12 months ended June 2021 stood at $32 million (~Rs 237 crore).
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Tata Chemicals Q1 Results: Net profit surges to Rs 342 crore
Tata Chemicals Ltd reported a multi-fold jump in consolidated net profit to Rs 342 crore for the quarter ended June (Q1 FY22). It had posted a net profit of Rs 74.15 crore in the corresponding quarter last year (Q1 FY21). Its revenue from operations rose 27% YoY to Rs 2,977 crore in Q1 FY22. The strong performance in Q1 was aided by a rebound in soda ash volumes in the US and India. Revenue from its Basic Chemistry segment grew 30% YoY to Rs 2,173 crore during the same period.
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Reliance BP Mobility partners with Swiggy to build EV ecosystem
Food delivery platform Swiggy has partnered with Reliance BP Mobility Ltd (RBML) to build an electric vehicle (EV) ecosystem in India. The partnership is aimed at promoting the adoption of battery-powered EVs, including the deployment of electric two-wheelers for food delivery. It will be supported by Jio-BP’s network of battery swap stations and Swiggy’s network of delivery partners. RBML is a joint venture of Reliance Industries Ltd (RIL) and UK-based energy major BP plc.
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Cipla Q1 Results: Net profit rises 24% YoY to Rs 715 crore
Cipla Limited reported a 24% YoY increase in consolidated net profit to Rs 715 crore for the quarter ended June (Q1 FY22). Its revenue from operations rose 27% YoY to Rs 5,504 crore during the same period. The pharma company’s sales in India grew 68% YoY to Rs 2,710 crore in Q1. Cipla’s operating profit rose 28% YoY to Rs 1,346 crore in the April-June quarter of FY22.
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Panacea Biotec to manufacture 25 million doses of Sputnik V vaccine
Panacea Biotec has entered into a licensing and manufacturing agreement with Russia-based Human Vaccine Limited Liability Company, Generium Joint Stock Company, and Dr. Reddy’s Labs to produce up to 25 million doses of Sputnik V vaccine. The pharma company will produce the Covid-19 vaccine using the ready-to-fill substance manufactured by Generium and then supply the entire quantity to Dr. Reddy’s Labs for distribution in India.
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Escorts Q1 Results: Net profit doubles to Rs 185 crore
Escorts Limited reported a 101% YoY jump in standalone net profit to Rs 185.2 crore for the quarter ended June (Q1 FY22). Its revenue from operations rose 57.4% YoY to Rs 1,671.5 crore during the same period. The tractor manufacturer’s EBITDA increased by 95% YoY to Rs 233.2 crore in Q1. Tractor sales grew 42.9% YoY to 25,935 units during the April-June quarter of FY22.
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Prince Pipes Q1 Results: Net profit rises 57% YoY to Rs 17.75 crore
Prince Pipes and Fittings Ltd reported a 57.78% YoY increase in net profit to Rs 17.75 crore for the quarter ended June (Q1 FY22). Net profit has declined by 81.74% when compared to the previous quarter. Its total income rose 8.16% YoY (and declined by 56% QoQ) to Rs 332.8 crore during the same period. Prince Pipes is a leading manufacturer of PVC pipes and multi-polymer processors in India.
Indiabulls Housing Q1 Results: Net profit rises 3% YoY to Rs 282 crore
Indiabulls Housing Finance Ltd reported a 3.3% YoY increase in net profit to Rs 281.69 crore for the quarter ended June (Q1 FY22). Net profit has increased by 1.98% when compared to the previous quarter. Its total income declined by 9.79% YoY (or 4% QoQ) to Rs 2,325.75 crore during the same period. The gross non-performing assets (GNPA) ratio stood at 2.86% in Q1 FY22, compared to 2.2% in Q1 FY21.
