Nykaa Q3 Results: Net profit falls 58% YoY to Rs 29 crore
FSN E-Commerce Ventures (Nykaa) reported a 57.97% YoY decline in consolidated net profit to Rs 29.01 crore for the quarter ended December (Q3 FY22). Its revenue from operations rose 35.94% YoY to Rs 1,098.36 crore during the same period. Nykaa’s gross merchandise value (GMV) grew 49% YoY (or 26% QoQ) to Rs 2,043.5 crore in Q3. Operating expenses stood at Rs 439.8 crore, up 91% YoY.
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Glenmark Pharma, SaNOtize Research launch nasal spray for Covid-19 treatment in India
Glenmark Pharmaceuticals Ltd and its partner SaNOtize Research have launched Nitric Oxide nasal spray for the treatment of adult patients with Covid-19 who have a high risk of progression of the disease. The partners have introduced the product in India under the brand name FabiSpray. The nasal spray is designed to kill the Covid-19 virus in the upper airways.
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Berger Paints Q3 Results: Net profit falls 8% YoY to Rs 253 crore
Berger Paints India Ltd reported an 8% YoY decline in consolidated net profit to Rs 252.97 crore for the quarter ended December (Q3 FY22). Net profit increased by 15% when compared to the previous quarter. Its revenue from operations rose 20.42% YoY to Rs 2,550.77 crore during the same period. Total expenses stood at Rs 2,228.56 crore in Q3, up 26.2% YoY.
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L&T’s construction arm secures significant order in Bangladesh
Larsen & Toubro Ltd’s construction arm has secured a significant order (in the range of Rs 1,000-2,500 crore) to construct hi-tech IT parks at eight locations across Bangladesh. This project is being funded by India’s EXIM Bank. It is the first IT and office space order that L&T has secured in Bangladesh.
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PowerGrid Q3 Results: Net profit falls 2% YoY to Rs 3,293 crore
PowerGrid Corporation of India Ltd (PGCIL) reported a 2.2% YoY decline in consolidated net profit to Rs 3,792.97 crore for the quarter ended December (Q3 FY22). Its revenue from operations rose 3% YoY to Rs 10,142.48 crore during the same period. Its transmission segment posted revenues of Rs 9,800.64 crore in Q3 FY22, compared to Rs 9,552.11 crore in Q3 FY21. PGCIL’s board has declared an interim dividend of Rs 5.5 per share.
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Airtel CEO hints at tariff hike in 2022 amid cost pressure
Bharti Airtel Ltd CEO Gopal Vittal hinted at another hike in tariff in 2022 as the telecom sector battles cost pressures and prepare for 5G service rollout. A tariff hike could happen after 3-4 months depending upon subscriber growth and competitive dynamics. “We would not hesitate to take the lead in hiking tariffs,” he said while hoping average revenue per user (ARPU) to rise from the current Rs 163 to Rs 200.
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Tata Power Q3 Results: Net profit rises 74% YoY to Rs 552 crore
Tata Power Company Ltd reported a 73.5% YoY increase in consolidated net profit to Rs 551.8 crore for the quarter ended December (Q3 FY22). Its revenue from operations rose 43.6% YoY to Rs 10,913.4 crore during the same period. EBITDA stood at Rs 1,634.2 crore in Q3, down 5.8% YoY. Tata Power Solar Systems Ltd will set up a 4 gigawatts (GW) solar cell and module manufacturing capacity at an investment of Rs 3,400 crore.
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Equity mutual funds record Rs 14,888 crore net inflow in January: AMFI
Data from the Association of Mutual Funds in India (AMFI) showed that equity mutual funds attracted net inflows of Rs 14,888 crore in Jan 2022, a 40% decline over the previous month. The number of mutual fund SIP accounts also crossed 5 crore, compared with 4.90 crore at the end of December. All mutual fund schemes (debt and equity) saw a net inflow of Rs 35,251.6 crore in January.
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Bosch Q3 Results: Net profit rises 27% YoY to Rs 235 crore
Bosch Ltd reported a 27% YoY increase in consolidated net profit to Rs 234.8 crore for the quarter ended December (Q3 FY22). Its revenue from operations rose 2.6% YoY to Rs 3,109.08 crore during the same period. Its automotive products segment registered a 2.6% YoY growth in business at Rs 2,740.61 crore
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