IndusInd Bank Q3 Results: Net profit rises 50% YoY to Rs 1,241 crore
IndusInd Bank reported a 49.5% YoY increase in net profit to Rs 1,241 crore for the quarter ended December (Q3 FY22). Its net interest income (NII) rose 11.4% YoY to Rs 3,793.6 crore during the same period. The gross non-performing assets (GNPA) ratio stood at 2.48% in Q3 FY22, compared to 2.77% in Q2 FY22. The bank’s provisions fell 11% YoY to Rs 1,654 crore in Q3 FY22.
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Maruti Suzuki raises capex to Rs 5,500 crore this fiscal
Maruti Suzuki India Ltd has budgeted for its highest-ever annual capital expenditure (capex) of about Rs 5,500 crore in the current financial year (FY22). The capex will be divided among new models, research & development, maintenance, facilities in existing plants, land purchase, etc. The automaker also announced an investment of ~Rs 18,000 crore in a new plant in Sonipat, which is likely to be commissioned by 2025.
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Zen Tech Q3 Results: Net loss at Rs 1.31 crore
Zen Technologies Ltd reported a consolidated net loss of Rs 1.31 crore for the quarter ended December (Q3 FY22). It had posted a net profit of Rs 2.32 crore in the corresponding quarter last year. Its revenue from operations rose 58.24% YoY (or 66% QoQ) to Rs 26.22 crore in Q3 FY22. Hyderabad-based Zen Technologies is engaged in the design and development of state-of-the-art training simulators.
Amber Enterprises Q3 Results: Net profit rises 19% YoY to Rs 32 crore
Amber Enterprises reported a 19% YoY increase in consolidated net profit to Rs 32.1 crore for the quarter ended December (Q3 FY22). Net profit jumped 333% when compared to the previous quarter. Its revenue from operations rose 27% YoY to Rs 975 crore during the same period. EBITDA stood at Rs 74 crore in Q3, up 17% YoY.
SJVN to supply 200 MW solar power to Bihar
Bihar Renewable Energy Development Agency (BREDA) has issued a Letter of Intent (LoI) to SJVN Ltd for procurement of 200 MW of solar power at a tariff of Rs 3.11 per kWh. The tentative cost of construction and development of this project is Rs 1,000 crore. The project is expected to generate 420.48 million units (MUs) in the first year, and its cumulative energy generation over 25 years would be ~10512 MU.
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IDFC First Bank Q3 Results: Net profit jumps 117% YoY to Rs 281 crore
IDFC First Bank reported a 117% YoY (or 86% QoQ) jump in net profit to Rs 281 crore for the quarter ended December (Q3 FY22). Its net interest income (NII) rose 36% YoY to Rs 2,580 crore during the same period. The gross non-performing assets (GNPA) ratio stood at 3.96% in Q3 FY22, compared to 4.27% in Q2 FY22. The bank’s provisions fell 32% YoY to Rs 392 crore in Q3 FY22. The bank’s home loan business grew 44% YoY.
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Century Plyboard secures order to modernise Khidderpore Docks
Century Plyboards (India) Ltd has emerged as the top bidder to modernise and mechanise a cluster of six berths in Calcutta’s Khidderpore Docks. Once fully operational, these berths under KPD -1 (West) will create additional port capacity in eastern India by installing mechanised systems to handle containers. It will also clean bulk cargo such as pulses and fertilisers. The project cost is ~Rs 200 crore.
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NTPC Q3 Results: Net profit rises 19% YoY to Rs 4,626 crore
State-owned NTPC Ltd reported a 19.34% YoY increase in net profit to Rs 4,626.11 crore for the quarter ended December (Q3 FY22). Its total income rose 19% YoY to Rs 33,783.62 crore during the same period. The company’s total expenses increased by 15% YoY to Rs 27,964.53 crore in Q3. Revenue from power generation stood at Rs 32,529 crore, up 20% YoY. NTPC’s board has declared an interim dividend of Rs 4 per share.
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Adani Total Gas wins 14 city gas licenses
Adani Total Gas Ltd won licenses to retail CNG to automobiles and piped natural gas (PNG) to households in 14 geographical areas (GAs) in the latest city gas bidding round by the Petroleum & Natural Gas Regulatory Board (PNGRB). Meanwhile, the state-owned Indian Oil Corporation (IOC) won city gas rights in 8 GAs.
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Heranba Industries Q3 Results: Net profit rises 19% YoY to Rs 53.4 crore
Heranba Industries Ltd reported a 19.5% YoY increase in net profit to Rs 53.4 crore for the quarter ended December (Q3 FY22). Net profit increased by 17% when compared to the previous quarter. Its revenue from operations rose 19% YoY (or 12% QoQ) to Rs 395.3 crore during the same period. The agrochemical company’s EBITDA stood at Rs 76.34 crore in Q3, up 17% YoY.
Happiest Minds Tech Q3 Results: Net profit rises 16% YoY to Rs 49 crore
Happiest Minds Technologies Ltd reported a 16.1% YoY increase in net profit to Rs 48.92 crore for the quarter ended December (Q3 FY22). Net profit increased by 10% when compared to the previous quarter. Its revenue from operations rose 47.2% YoY (or 7.3% QoQ) to Rs 283.94 crore during the same period. In dollar terms, the IT firm’s operating revenue stood at $37.8 million in Q3, up 44.2% YoY.
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