HDFC Q4 Results: Net profit rises 42% YoY to Rs 3,180 crore
Housing Development Finance Corporation (HDFC) reported a 42% YoY increase in net profit to Rs 3,180 crore for the quarter ended March (Q4). On a quarterly basis, net profit has increased by 8.7%. Net interest income (NII) rose 14% YoY to Rs 4,065 crore during the same period. The gross non-performing assets (NPAs) ratio stood at Rs 1.98%, compared with 1.91% in Q3 FY21. HDFC’s board has approved a dividend of Rs 23 per share. The board has also approved fundraising of up to Rs 1.25 lakh crore by issuing non-convertible debentures on a private placement basis.
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Dabur Q4 Results: Net profit rises 34% YoY to Rs 378 crore
Dabur India Ltd reported a 34.4% YoY increase in consolidated net profit to Rs 378 crore for the quarter ended March (Q4). The FMCG firm’s revenue from operations rose 25.3% YoY to Rs 2,337 crore during the same period. Its India FMCG business grew 28.3% and posted best-ever volume growth of 25.4% in Q4. For the financial year ended March 31, 2021 (FY21), net profit rose 17.2% YoY to Rs 1,693 crore. Dabur India’s board has proposed a final dividend of Rs 3 per share.
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JSW Steel signs pact with JFE Steel Corp to establish JV in India
JSW Steel has signed a Memorandum of Understanding (MoU) with Japan-based JFE Steel Corporation to conduct a feasibility study to establish a grain-oriented electrical steel sheet manufacturing and sales joint venture (JV) company in India. Grain-oriented electrical steel is an important material used in the production of energy-efficient transformers and high-performance generators. The companies plan to complete the study within the current financial year and take appropriate steps to set up the JV company.
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Steel Strips Q4 Results: Net profit at Rs 44.5 crore
Steel Strips Wheels Ltd reported a net profit of Rs 44.56 crore for the quarter ended March (Q4 FY21). It had posted a net loss of Rs 5.25 crore in the corresponding period last year (Q4 FY20). On a quarterly basis, net profit has increased by 54% in Q4 FY21. Revenue from operations rose 80.81% YoY to Rs 699.87 crore during the same period. For the financial year ended March 31, 2021 (FY21), net profit rose 110% YoY to Rs 49.25 crore. The company’s board has declared a final dividend of Rs 2 per share.
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Tata Motors to hike prices of passenger vehicles from May 8
Tata Motors Ltd said it will increase the prices of its passenger cars by an average of 1.8%, depending on the model and variant, from May 8. This is to partially offset the rise in input costs. The surge in prices of commodities such as steel and precious metals has forced the automaker to hike prices. Tata Motors will also extend price protection for customers who have booked vehicles on or before May 7.
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Kansai Nerolac Paints Q4 Results: Net profit rises 89% YoY to Rs 124 crore
Kansai Nerolac Paints Ltd reported an 89.14% YoY increase in consolidated net profit to Rs 123.62 crore for the quarter ended March (Q4). On a quarterly basis, net profit has declined by 39%. Its total revenue rose 35.14% YoY to Rs 1,459.57 crore during the same period. The company’s profit margins improved from 6.22% in Q4 FY20 to 8.51% in Q4 FY21. Kansai Nerolac Paints’ board has recommended a final dividend of Rs 4 per share.
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Godrej Agrovet Q4 Results: Net profit declines 24% You to Rs 56 crore
Godrej Agrovet Ltd reported a 24.12% YoY decline in net profit to Rs 56.59 crore for the quarter ended March (Q4). Its revenue fell 10.4% YoY to Rs 1,472.39 crore during the same period. The company’s poultry and processed foods business grew 22% YoY to Rs 139 crore in Q4. For the financial year ended March 31, 2021 (FY21), net profit has increased by 2.47% YoY to Rs 313.74 crore. Godrej Agrovet’s board has declared a final dividend of Rs 8 per share.
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GE Shipping Company Q4 Results: Net profit at Rs 49 crore
Great Eastern Shipping Company reported a net profit of Rs 49.01 crore for the quarter ended March (Q4). It had posted a net loss of Rs 50.68 crore in the corresponding period last year. On a quarterly basis, net profit has fallen by 72% in Q4 FY21. Revenue from operations declined by 26.68% YoY to Rs 739.95 crore during the same period. For the financial year ended March 31, 2021 (FY21), net profit has increased by 343.43% YoY to Rs 918.52 crore. GE Shipping Company’s board has announced a final dividend of Rs 9 per share.
The company’s board has also approved fundraising of up to Rs 1,000 crore through the issuance of non-convertible debentures (NCDs) on a private placement basis.
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RailTel secures order worth Rs 11.99 crore from Cotton Corp
RailTel Corporation of India has received a work order from Cotton Corporation of India for hiring on-cloud Data Centre hosting for hardware and software, along with the migration of Oracle EBS and other applications. The total cost for the five years contract period is Rs 11.99 crore.
