JSW Steel Q4 Results: Net profit falls 20% YoY to Rs 3,343 crore
JSW Steel Ltd reported a 20.2% YoY decline in consolidated net profit to Rs 3,343 crore for the quarter ended March (Q4 FY22). Its total income rose 73% YoY to Rs 47,128 crore during the same period. Expenses surged 98.9% YoY to Rs 41,282 crore in Q4. The company recorded an exceptional loss of Rs 741 crore. JSW Steel’s board has declared a final dividend of Rs 17.35 per share.
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Sun Pharma acquires Uractiv portfolio from Fiterman Pharma in Romania
Sun Pharmaceutical Industries Ltd’s subsidiary, S.C. Terapia, has acquired the Uractive portfolio from Fiterman Pharma in Romania. The portfolio comprises food supplements including minerals, vitamins, cosmetics, and medical devices used for maintaining urinary tract health. Uractiv is a leading brand in its category in Romania, with a portfolio of 12 stock-keeping units (SKUs) having annualised revenues of approximately $8.7 million.
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Nykaa Q4 Results: Net profit falls 49% YoY to Rs 8.56 crore
FSN E-Commerce Ventures (Nykaa) reported a 49% YoY decline in consolidated net profit to Rs 8.56 crore for the quarter ended March (Q4 FY22). Its revenue from operations rose 31% YoY to Rs 973.32 crore during the same period. The gross merchandise value (GMV) grew 45% YoY to Rs 179.8 crore in Q4.
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RIL, Jindal Group, HPCL-Mittal Energy in race to buy JBF Petro
Reliance Industries Ltd (RIL), an HPCL-Lakshmi Mittal joint venture, two Jindal Group firms, and three other entities have reportedly shown interest in acquiring bankrupt JBF Petrochemicals. JBF Petro manufactures purified terephthalic acid— a raw material for polyester fibre and PET raisin (used to make jars and bottles for mineral water, carbonated soft drinks). The company has an outstanding debt of Rs 4,700 crore.
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GAIL Q4 Results: Net profit rises 41% YoY to Rs 2,683 crore
GAIL Limited reported a 40.6% YoY increase in net profit to Rs 2,683.11 crore for the quarter ended March (Q4 FY22). Its revenue from operations rose 73.4% YoY to Rs 26,968.21 crore during the same period. The cost of materials consumed jumped 207.4% YoY to Rs 3,171.4 crore in Q4. GAIL’s board declared a final dividend of ₹1 per share.
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Siemens’ board approves transfer of LDA biz to Siemens AG arm for Rs 440 crore
Siemens Ltd’s board has approved the sale of its Large Drivers Application (LDA) business to a subsidiary of Siemens AG for Rs 440 crore. The business will be transferred to Siemens Large Drives India Pvt. Ltd. (a subsidiary of Siemens Large Drives GmbH, which in turn is a subsidiary of Siemens AG). The LDA segment recorded a revenue of Rs 443 crore and an operating profit of Rs 25 crore in FY21.
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Ruchi Soya Q4 Results: Net profit falls 25% YoY to Rs 234 crore
Ruchi Soya Industries Ltd reported a 25.4% YoY decline in net profit to Rs 234.43 crore for the quarter ended March (Q4 FY22). Its revenue from operations rose 37.72% YoY to Rs 6,663.72 crore during the same period. The foods product segment registered a 15% increase in sales over the previous quarter. The company’s board has declared a dividend of Rs 5 per share.
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Adani Enterprises’ arm to acquire 50% stake in General Aeronautics
Adani Defence Systems and Technologies Ltd (ADSTL) will acquire a 50% stake in Bengaluru-based General Aeronautics Pvt Ltd. ADSTL is a wholly-owned subsidiary of Adani Enterprises Ltd. General Aeronautics is an end-to-end agri platform solution provider. It provides robotic drones and drone-based solutions for crop protection, yield monitoring, precision-farming, etc.
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SJVN signs pact to supply 200 MW solar power to discoms in Bihar
SJVN Limited has signed a power purchase agreement (PPA) for the supply of 200 megawatts (MW) from its solar power projects in Bihar to state discoms. The company has bagged this project at a tariff of Rs 3.11 per unit through Open Competitive Tariff Bidding organised by Bihar Renewable Energy Development Agency (BREDA). The project is scheduled to be commissioned by November, 2023.
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