Godrej Consumer Q3 Results: Net profit rises 12% YoY to Rs 502 crore
Godrej Consumer Products reported a 12.77% YoY increase in consolidated net profit to Rs 502.08 crore for the quarter ended December (Q3). Its revenue from operations rose 9.98% YoY to Rs 2,778.05 crore during the same period. The company’s Household Insecticides, Hygiene, and Value-for-Money segments (which contributes to 81% of its global portfolio) grew by 14% YoY in Q3.
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NTPC’s hydropower project damaged in Uttarakhand glacier burst
NTPC Limited announced that a part of its Tapovan Vishnugad hydropower project (which is under construction) has faced damages due to the avalanche in Uttarakhand’s Chamoli district. The incident occurred after a glacier burst in Chamoli led to massive flash floods and landslides. Around 19 people have died from the unfortunate incident. It has been reported that ~150 employees at the NTPC plant are still missing.
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Aditya Birla Fashion Q3 Results: Net profit at Rs 59 crore
Aditya Birla Fashion and Retail Ltd (ABFRL) reported a consolidated net profit of Rs 58.55 crore for the quarter ended December (Q3). It had posted a net loss of Rs 37.64 crore during the corresponding quarter last year. The company’s total revenue declined 17.87% YoY to Rs 2,133.14 crore in Q3 FY21. ABFRL said it is confident that business recovery will continue as the impact of the Covid-19 pandemic wears down over the next few quarters. The company expects to resume its consistent growth trajectory in the next financial year.
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Infosys partners with Spirit AeroSystems to integrate its IT infrastructure
Infosys Limited said it has entered into a strategic collaboration with US-based aircraft manufacturing company- Spirit Aerosystems, Inc. Spirit has selected Infosys to integrate the IT infrastructure of its recently acquired Bombardier’s former aerostructures and aftermarket service assets. Infosys will leverage its system integration expertise, ecosystem partners, and extensive knowledge of the aviation sector to develop a robust IT framework.
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BPCL Q3 Results: Net profit jumps 120% YoY to Rs 2,778 crore
Bharat Petroleum Corporation Ltd (BPCL) reported a 120% YoY increase in net profit to Rs 2,777.6 crore for the quarter ended December (Q3). Its revenue rose 1.4% YoY to Rs 86,579.95 crore during the same period. The average gross refining margin of the company stood at $2.90 per barrel, compared to $3.15 per barrel in Q3 FY20. BPCL’s board has declared an interim dividend of Rs 16 per share.
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NMDC Q3 Results: Net profit rises 53% YoY to Rs 2,108 crore
NMDC Limited reported a 53.4% YoY increase in consolidated net profit to Rs 2,108.05 crore for the quarter ended December (Q3). Its revenue from operations rose 44.8% YoY to Rs 4,355.10 crore during the same period. The company’s revenue from its iron ore segment increased by 44% YoY to Rs 4,311 crore. State-owned NMDC Ltd is involved in the exploration of iron ore, copper, limestone, gypsum, etc.
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Meghmani Organics Q3 Results: Net profit rises 45% YoY to Rs 69 crore
Meghmani Organics Ltd reported a 45.64% YoY increase in net profit to Rs 69.34 crore for the quarter ended December (Q3). Its total revenue rose 25.94% YoY to Rs 657.66 crore during the same period. The company showed positive revenue growth in its agrochemicals and Chloralkali segments in Q3.
HCL Tech announces Rs 700 crore one-time bonus for employees
HCL Technologies Ltd announced a special one-time bonus worth Rs 700 crore for its employees around the world. This is in recognition of the company hitting the $10 billion (~Rs 72,900 crore) revenue milestone in 2020. Employees across geographies who have completed 1 year of service or more will receive a bonus in February 2021.
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Sun TV Q3 Results: Net profit rises 15% YoY to Rs 445 crore
Sun TV Network Ltd reported a 15.88% YoY increase in consolidated net profit to Rs 445.54 crore for the quarter ended December (Q3). Its revenue rose by 17.26% YoY to Rs 994.14 crore during the same period. Sun TV reported a 3% growth in subscription revenues at Rs 424 crore in Q3. It deployed cost optimization measures and managed to grow profits despite a high IPL franchise fee paid in this current quarter. The company’s board has declared an interim dividend of Rs 5 per share.
Prakash Industries Q3 Results: Net profit rises 4% YoY to Rs 31 crore
Prakash Industries Ltd reported a 4.6% YoY increase in net profit to Rs 31.3 crore for the quarter ended December (Q3). The company’s revenue rose by 20.6% YoY to Rs 891 crore during the same period. Delhi-based Prakash Industries is engaged in mining, steel, and power operations.
ONGC to carry out India’s first geothermal field development project in Ladakh
Oil and Natural Gas Corporation (ONGC) will carry out India’s first Geothermal Field Development Project, which will be implemented in Ladakh. A Memorandum of Understanding (MoU) was signed by the ONGC Energy Centre (OEC) with the Union Territory of Ladakh and the Ladakh Autonomous Hill Development Council on February 6. This project of ONGC will put India on the geothermal power map of the world.
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Balkrishna Industries Q3 Results: Net profit rises 45% YoY to Rs 325 crore
Balkrishna Industries Ltd reported a 45.25% YoY increase in net profit to Rs 325.07 crore for the quarter ended December (Q3). The tyre manufacturer’s total revenue rose 31.81% YoY to Rs 1,563.84 crore during the same period. The company’s board has declared an interim dividend of Rs 5 per share.
