Kalyan Jewellers Q4 Results: Net profit rises 54% YoY to Rs 74 crore
Kalyan Jewellers reported a 54% YoY increase in consolidated net profit to Rs 73.9 crore for the quarter ended March (Q4). Its revenue from operations rose 42.78% YoY to Rs 3,050.60 crore during the same period. For the financial year ended March 31, 2021 (FY21), the company posted a net loss of Rs 6.07 crore. This is compared to a net profit of Rs 142,27 crore in FY20. Kalyan Jewellers has announced plans to open 21 showrooms in India in the current financial year (FY22).
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Indian economy not as hard hit as first wave, but uncertainties remain: RBI
The Reserve Bank of India (RBI) said that India’s economy has not moderated to the extent it did during the first wave of the Covid-19 pandemic, but uncertainties can act as a deterrent in the short term. In its annual report, RBI said India’s growth prospects now essentially depend on how fast the country can contain the second wave of infections. The central bank has also expressed concerns over the ‘bubble’ in the Indian equity markets and has hinted that high valuations in the market are far from ground realities.
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Cadila Healthcare Q4 Results: Net profit rises 73% YoY to Rs 679 crore
Cadila Healthcare reported a 73.25% YoY increase in consolidated net profit to Rs 679 crore for the quarter ended March (Q4). Net profit has increased by 28.7% when compared to the previous quarter. Its total revenue from operations rose 2.52% YoY to Rs 3,846.70 crore during the same period. For the financial year ended March 31, 2021 (FY21), net profit rose 81.34% YoY to Rs 2,133.6 crore. The pharma company’s board has recommended a final dividend of Rs 3.5 per share.
The company has announced plans to seek emergency use approval (EUA) for its Covid-19 vaccine, ZyCov-D, from the Drugs Controller General of India (DCGI) within the next two weeks.
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Lupin receives $50 million from Boehringer Ingelheim for achievement of key milestones
Lupin Limited has received a payment of $50 million (~Rs 363.5 crore) from Germany-based Boehringer Ingelheim for the achievement of ‘key milestones’ for its novel MEK inhibitor compound. The MEK inhibitor compound is under development by Boehringer Ingelheim as potential targeted therapy for patients with difficult-to-treat cancers. ‘Key milestones’ can be referred to as various successful steps on the way to a drug getting regulatory approval.
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Strides Pharma Q4 Results: Net profit at Rs 46 crore
Strides Pharma Science reported a consolidated net profit of Rs 46.09 crore for the quarter ended March (Q4 FY21). It had posted a net loss of Rs 203.93 crore in the corresponding period last year (Q4 FY20). Total revenue from operations rose 46.85% YoY to Rs 908.5 crore in Q4 FY21. The pharma company’s board has approved a final dividend of Rs 2.5 per share.
In a separate filing, Strides Pharma said it has partnered with Taiwan-based TLC to launch Liposomal Amphotericin B in India. The drug is used for the treatment of mucormycosis or Black Fungus.
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Dixon Tech Q4 Results: Net profit rises 60% YoY to Rs 44.3 crore
Dixon Technologies reported a 60% YoY increase in consolidated net profit to Rs 44.3 crore for the quarter ended March (Q4). Net profit has declined by 28% when compared to the previous quarter. Its total revenue from operations jumped 146% YoY to Rs 2,109.7 crore during the same period. Dixon Tech’s consumer electronics division posted a three-fold increase in revenues to Rs 1,178.6 crore in Q4. The company’s board has approved a final dividend of Rs 1 per share.
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Paytm targets $3 billion IPO this year: Report
According to a report from Bloomberg, digital payments provider Paytm is aiming to raise $3 billion (~Rs 21,800 crore) via an initial public offering (IPO) late this year. This would be India’s biggest-ever IPO. The company, formally called One97 Communications Ltd, plans to list in India around November. It is targeting a valuation of around $25 billion to $30 billion. Paytm is backed by Japan’s SoftBank Group, Warren Buffett’s Berkshire Hathaway Inc, and China-based Ant Financial.
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IRB Infra Q4 Results: Net profit declines 36.85% YoY to Rs 97.46 crore
IRB Infrastructure Developers Ltd reported a 36.85% YoY decline in consolidated net profit to Rs 97.46 crore for the quarter ended March (Q4). Net profit has increased by 40.2% when compared to the previous quarter. Its revenue from operations rose 1.35% YoY to Rs 1,605.85 crore during the same period. For the financial year ended March 31, 2021 (FY21), net profit has declined 83.75% YoY to Rs 117.15 crore.
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Sun Pharma Q4 Results: Net profit jumps 123% YoY to Rs 894 crore
Sun Pharmaceutical Industries Ltd reported a 123.6% YoY increase in consolidated net profit to Rs 894 crore for the quarter ended March (Q4). Net profit has declined by 52% when compared to the previous quarter. Its revenue from operations rose 4% YoY to Rs 8,522 crore during the same period. For the financial year ended March 31, 2021 (FY21), net profit has declined by 22.8% YoY to Rs 2,903.82 crore. The pharma company’s board has declared a final dividend of Rs 2 per share.
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Liquor sales rise 6% in Q4; declines by 12% in FY21
The sales of Indian-made foreign liquor recovered in the January-March quarter (Q4) with a 6% growth, but it declined 12% in FY 2020-21 on an overall basis. States such as Uttarakhand, Himachal Pradesh, and Haryana reported over 40% growth in liquor sales. Maharashtra and Goa reported a 23% and 22% growth, respectively. According to estimates, the liquor industry contributes ~Rs 2 lakh crore to state exchequer through taxes and levies.
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Infibeam Avenues Q4 Results: Net profit at Rs 32 crore
Infibeam Avenues Ltd reported a consolidated net profit of Rs 32 crore for the quarter ended March (Q4 FY21). It had posted a net profit of Rs 24 crore in the corresponding quarter last year (Q4 FY20). The company’s gross revenue rose 42% YoY to Rs 201 crore in Q4 FY21. Its board has recommended a final dividend of Rs 0.05 per share. Infibeam Avenues’ board has also approved a further investment of Rs 1.05 crore in Avenues Payments India Pvt Ltd (RemitGuru). Ahmedabad-based Infibeam offers digital payments, e-commerce software, and internet services.
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Petrol, diesel prices hiked for 14th time in May
The prices of petrol and diesel were hiked again on Thursday (May 27), touching fresh record highs across the country. In the national capital, the petrol price rose by 24 paise and that of diesel rose 29 paise. Following the latest price revision, petrol in Delhi is now retailing at Rs 93.68 per litre, while diesel is retailing at Rs 84.61 per litre. In Mumbai, petrol price neared Rs 100 per litre-mark and now stands at Rs 99.94 per litre.
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