HDFC Q3 Results: Net profit rises 11% YoY to Rs 3,261 crore
Housing Development Finance Corp (HDFC) reported an 11.4% YoY increase in net profit to Rs 3,260.69 crore for the quarter ended December (Q3 FY22). Its net interest income (NII) rose 6.96% YoY to Rs 4,284 crore during the same period. HDFC’s assets under management (AUM) stood at Rs 6.19 lakh crore in Q3, up 12% YoY.
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BPCL says privatisation may be pushed to next fiscal
The privatisation of Bharat Petroleum Corporation Ltd (BPCL) may be pushed back to the next financial year as no bidder visited the firm’s premises in the last quarter. The government is selling its entire 52.98% stake in BPCL. The company has received three Expressions of Interest (EoIs), including one from Anil Agarwal-led Vedanta Group.
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Mahindra Finance Q3 Results: Net profit at Rs 894 crore
Mahindra and Mahindra Financial Services reported a net profit of Rs 894 crore for the quarter ended December (Q3 FY22). It had posted a net loss of Rs 274 crore in the corresponding quarter last year (Q3 FY21) and a net profit of Rs 1,022.9 crore in Q2 FY22. Its net interest income (NII) rose 14% YoY to Rs 1,580 crore in Q3 FY22. Total disbursements grew 28% YoY to Rs 8,032 crore during the same period.
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Alembic Pharma gets approval from USFDA for Fesoterodine Fumarate ER tablets
Alembic Pharmaceuticals Ltd has received tentative approval from the US Food & Drug Administration (USFDA) for Fesoterodine Fumarate extended-release (ER) tablets. The drug is indicated for the treatment of overactive bladder in adults with symptoms of urge urinary incontinence, urgency. As per IQVIA data, the tablets have an estimated market size of $225 million for the twelve months ended Sept 2021.
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Adani Total Gas Q3 Results: Net profit falls 13% YoY to Rs 127 crore
Adani Total Gas Ltd reported a 13% YoY decline in net profit to Rs 127.6 crore for the quarter ended December (Q3 FY22). Net profit declined by 19% when compared to the previous quarter. Its revenue from operations rose 78% YoY (or 36% QoQ) to Rs 931.8 crore during the same period. EBITDA stood at Rs 203.3 crore in Q3, down 4% YoY.
SJVN upscales power generation capacity target to 50,000 MW by 2040
SJVN Ltd announced that it has doubled its target of installed electricity generation capacity to 50,000 MW by 2040. This revision has resulted from the addition of multiple projects in its portfolio. It has established a reputation for successfully operating and implementing Mega Hydro Projects in India and abroad. SJVN has also added varied business verticals and forayed into thermal, solar, wind power generation, power transmission, and power trading.
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Apollo Tyres Q3 Results: Net profit falls 50% YoY to Rs 224 crore
Apollo Tyres Ltd reported a 50% YoY decline in consolidated net profit to Rs 224 crore for the quarter ended December (Q3 FY22). Net profit increased by 29% when compared to the previous quarter. Its revenue from operations rose 10% YoY (or 12% QoQ) to Rs 5,707 crore during the same period. EBITDA stood at Rs 743 crore in Q3, down 28% YoY. Apollo Tyres said it will continue to expand its product range and footprint across key markets.
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Maruti Suzuki reports marginal increase in production in Jan
Maruti Suzuki India Ltd (MSIL) witnessed a marginal increase in production in January 2022. The automaker reported total production of 1,61,383 units last month, compared to 1,60,975 units in January 2021. Total passenger vehicle production rose 0.78% YoY to 1,57,668 units in Jan 2022. The shortage of electronic components had a minor impact on the production of vehicles during the month.
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ZEEL Q3 Results: Net profit falls 25% YoY to Rs 299 crore
Zee Entertainment Enterprises Ltd (ZEEL) reported a 25% YoY decline in consolidated net profit to Rs 299 crore for the quarter ended December (Q3 FY22). Net profit increased by 12% when compared to the previous quarter. Its revenue from operations fell 22.6% YoY to Rs 2,112.64 crore during the same period. EBITDA stood at Rs 479 crore in Q3, down 24% YoY.
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Tata Consumer Q3 Results: Net profit rises 21% YoY to Rs 265 crore
Tata Consumer Products Ltd reported a 21.5% YoY increase in consolidated net profit to Rs 265 crore for the quarter ended December (Q3 FY22). Net profit fell 1% when compared to the previous quarter. Its revenue from operations rose 5% YoY to Rs 3,208 crore during the same period. EBITDA stood at Rs 461 crore in Q3, up 28% YoY. Revenue from its India food segment and beverages segment rose 16.13% and 1%, respectively.
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Dabur India Q3 Results: Net profit rises 2% YoY to Rs 504 crore
Dabur India Ltd reported a 2.19% YoY increase in consolidated net profit to Rs 504.35 crore for the quarter ended December (Q3 FY22). Its revenue from operations rose 7.8% YoY to Rs 2,941.75 crore during the same period. EBITDA stood at Rs 627.5 crore in Q3, up 9% YoY. The FMCG firm’s total expenses rose 7.65% YoY to Rs 2,388.53 crore.
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Adani Green Q3 Results: Net profit rises 20% YoY to Rs 49 crore
Adani Green Energy Ltd (AGEL) reported a 20% YoY increase in consolidated net profit to Rs 49 crore for the quarter ended December (Q3 FY22). Its total income rose 74.5% YoY to Rs 1,471 crore during the same period. AGEL sold 2,504 million units (MU) of electricity in Q3 FY22, compared to 1,273 MU in Q3 FY21.
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