quick heal tech Archives

Divi’s Labs Q1 Results: Net profit rises 13% YoY to Rs 557 crore

Divi’s Laboratories Ltd reported a 13.2% YoY increase in consolidated net profit to Rs 557.11 crore for the quarter ended June (Q1 FY22). Net profit has increased by 10.9% when compared to the previous quarter. Its total income rose 14.2% YoY (or 10.2% QoQ) to Rs 1,997 crore during the same period. The pharma company’s foreign exchange (forex) gain stood at Rs 20 crore in Q1, compared to Rs 5 crore in the corresponding quarter last year.

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PM Modi pushes for higher exports in post-pandemic world

Prime Minister Narendra Modi has asked industry representatives in India to look at ways to increase exports. This move could help boost employment in our economy, which is still recovering from a Covid-19-induced slowdown. The Central government has set a target of $400 billion worth of merchandise exports in the current financial year (FY22). India has met nearly a third of its annual target in the first four months of FY22.

“At present, our exports are about 20% of GDP. Considering the size of our economy, our potential, the base of our manufacturing and service industry, it has the potential to grow a lot,” said PM Modi.

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Bank of Baroda Q1 Results: Net profit at Rs 1,208 crore

Bank of Baroda reported a standalone net profit of Rs 1,208 crore for the quarter ended June (Q1 FY22). It had posted a net loss of Rs 864 crore in the corresponding quarter last year (Q1 FY21). Net interest income (NII) increased by 15.7% YoY to Rs 7,892 crore in Q1 FY22. The gross non-performing assets (GNPA) ratio stayed flat at Rs 8.86% compared to the previous quarter. Bank of Baroda’s provisions fell 23% YoY to Rs 5,349 crore in the April-June quarter of FY22.

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Johnson & Johnson’s Covid-19 vaccine gets approval for emergency use in India

Global healthcare major Johnson & Johnson (J&J) has received Emergency Use Authorisation (EUA) for its single-dose Covid-19 vaccine in India. The vaccine will be brought to our country through a supply agreement with homegrown vaccine marker Biological E Limited. Studies have shown that J&J’s vaccine is 66% effective in preventing cases of moderate-to-severe illness and 85% effective against severe cases of Covid-19.

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Affle India Q1 Results: Net profit rises 90% YoY to Rs 35 crore

Affle (India) Ltd reported a 90.3% YoY increase in consolidated net profit to Rs 35.72 crore for the quarter ended June (Q1 FY22). Net profit has declined by 38.9% when compared to the previous quarter. Its revenue from operations rose 69.85% YoY to Rs 152.47 crore during the same period. Affle (India) is a leading provider of mobile advertising services through information technology and software development services.

Power Mech Projects: Net profit declined by 12% QoQ to Rs 31 crore

Power Mech Projects Ltd reported an 11.86% quarter-on-quarter (QoQ) decline in consolidated net profit to Rs 31.43 crore for the quarter ended June (Q1 FY22). It had posted a net loss of Rs 32.6 crore in the corresponding quarter last year (Q1 FY21). Its total income fell 17.35% QoQ (but increased by 126.8% YoY) to Rs 628.05 crore during the same period.

Amber Enterprises Q1 Results: Net profit falls 83% QoQ to Rs 12 crore

Amber Enterprises India Ltd reported an 83.5% QoQ decline in consolidated net profit to Rs 12.42 crore for the quarter ended June (Q1 FY22). It had posted a net loss of Rs 22.4 crore in the corresponding quarter last year (Q1 FY21). Its total income fell 55.5% QoQ (but increased by 172.4% YoY) to Rs 715.02 crore during the same period. Amber Enterprises provides solutions to air conditioner original equipment manufacturers (OEMs) and original design manufacturers (ODMs) in India.

Quick Heal Technologies Q1 Results: Net profit falls 75% YoY to Rs 6.18 crore

Quick Heal Technologies Ltd reported a 75.23% YoY decline in consolidated net profit to Rs 6.18 crore for the quarter ended June (Q1 FY22). Net profit has declined by 84.44% when compared to the previous quarter. Its total income fell 23.5% YoY (or 45% QoQ) to Rs 61.03 crore during the same period. Pune-based Quick Heal Tech is a leading IT security solutions company.

DCB Bank Q1 Results: Net profit falls 57% YoY to Rs 33 crore

DCB Bank reported a 57.4% YoY decline in consolidated net profit to Rs 33.76 crore for the quarter ended June (Q1 FY22). Net profit has declined by 56.7% when compared to the previous quarter. Its total income rose 1.5% YoY to Rs 965.67 crore during the same period. The gross non-performing assets (GNPA) ratio increased to 4.87% in Q1 FY22, compared to 2.44% in Q1 FY21 and 4.09% in Q4 FY21. Provisions for bad loans stood at Rs 155.54 crore in the April-June quarter of FY22, up 85% YoY.

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Dodla Dairy Q1 Results: Net profit rises 12% YoY to Rs 36 crore

Dodla Dairy Ltd reported an 11.9% YoY increase in consolidated net profit to Rs 36.07 crore for the quarter ended June (Q1 FY22). Net profit has jumped 276.5% when compared to the previous quarter. Its total income rose 12.8% YoY to Rs 514.65 crore during the same period. Dodla Dairy is an integrated dairy company based in South India. It produces and sells milk, ghee, flavoured milk, curd, etc.

NSE, ONGC buys stake in IGX from Indian Energy Exchange

Indian Energy Exchange (IEX) has divested 26% of its equity holding in Indian Gas Exchange (IGX) to the National Stock Exchange of India. NSE will purchase 1.92 crore equity shares of IGX from IEX for Rs 19.20 crore. IEX has also sold 5% of its equity holding in IGX to the Oil and Natural Gas Corporation (ONGC) for Rs 3.69 crore. “Having NSE and ONGC as partners is a natural choice in the endavour to deepen India’s gas markets,” said S N Goel, Chairman & MD of IEX.

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Easy Trip Planners IPO subscribed 159 times on final day of bidding

The Rs 510-crore initial public offering (IPO) of Easy Trip Planners was subscribed 159.30 times on the final day of bidding. The issue received bids for 240.27 crore equity shares against an offer size of 1.5 crore shares. The portion reserved for retail investors was subscribed 70.40 times. The portion set aside for non-institutional investors (NIIs) saw a subscription of 382.21 times and that of qualified institutional buyers (QIBs) 77.53 times.

Passenger vehicle sales grow 18% in February: SIAM

According to data released by the Society of Indian Automobile Manufacturers (SIAM), passenger vehicle sales increased by 17.92% year-on-year (YoY) to 2.81 lakh units in February. The utility vehicles (UVs) segment saw a growth of more than 45% YoY. Sales of two-wheelers rose 10.20% YoY to 14.26 lakh units last month. The data also shows that sales of three-wheelers declined by 34% YoY to 27,331 units in February.

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Vodafone Idea partners with Disney+ Hotstar to provide one year of free content to users

Vodafone Idea (Vi) has partnered with Disney+ Hotstar to offer one year of VIP membership to its customers. Vi prepaid users will get three new unlimited recharge plans including one data-only plan with Disney+ Hotstar VIP subscription. The telecom company’s postpaid users can get access to the streaming service on plans starting at Rs 499. The offer comes just in time for the upcoming IPL cricket season, which begins on April 9.

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Hitachi ABB Power Grids secures orders worth Rs 160 crore to supply transformers to Indian Railways

Hitachi ABB Power Grids in India has secured orders worth Rs 160 crore from the Government of India’s electric locomotive manufacturer, Chittaranjan Locomotive Works (CLW), and the Central Organization for Rail Electrification (CORE) to power electric freight locomotives for the Indian Railways. The company will deliver traction transformers to CLW for one of Indian Railways’ most successful classes of locomotives- the WAG 9. The firm will also supply trackside transformers to CORE.

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Magma Fincorp’s shareholders approve plans to raise Rs 3,456 crore by issuing shares to Rising Sun Holdings

Magma Fincorp Limited announced that its shareholders have approved the company’s plans to raise Rs 3,456 crore by issuing preference shares to Adar Poonawalla-controlled Rising Sun Holding Pvt Ltd (RSHPL) and two members from the promoter group. Around 49.37 crore preference shares will be issued at Rs 70 per share to RSHPL and the two promoters. After the transaction, RSHPL will hold a controlling stake of 60% in Magma Fincorp.

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Sun Pharma’s subsidiary acquires 12% stake in Australia-based WRS Bioproducts

The Australian subsidiary of Sun Pharmaceutical Industries Ltd has acquired 4.28 lakh shares (or 12% fully diluted equity stake) of WRS Bioproducts Pty Limited. The total value of the acquisition was AUD 2 million (~Rs 11.24 crore). WRS Bioproducts is engaged in developing novel technologies to produce and commercialise supplements and nutraceutical ingredients from diverse algae species in Australia.

Man Infra’s subsidiary secures order worth Rs 84 crore

Man Vastucon, a wholly-owned subsidiary of Man Infraconstruction Ltd, has received an order worth Rs 84.32 crore from Mira Shaindar Municipal Corporation (MSMC). The scope of work consists of the construction of an auditorium situated off Western Express Highway, Mira Road East, Thane. The project will be completed and handed over to MSMC within a year.

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Dr Reddy’s gets 3 observations from USFDA for US-based API plant

Dr Reddy’s Laboratories said that the US Food & Drug Administration (USFDA) has issued a Form 483 with three observations after inspecting its active pharmaceutical ingredients (API) manufacturing plant in Middleburgh, New York. Form 483, which is issued to a firm at the end of an inspection, specifies any conditions that may be in violation of the Food Drug & Cosmetic Act or other regulations. Currently, Dr Reddy’s does not have any sales from this API plant.

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Quick Heal Technologies’ board approves proposal for Rs 155 crore share buyback plan

The Board of Directors of Quick Heal Technologies has approved the proposal to buyback 63.26 lakh equity shares at Rs 245 per share. This represents 0.85% of the total paid-up equity share capital of the software company. The total buyback size will be Rs 155 crore. The board has also approved the de-registration and closure of the company’s wholly-owned subsidiary, Quick Heal Technologies Africa. This closure was part of the firm’s recently concluded business reorganisation exercise.

Board of Shriram EPC approves the issuance of preference shares worth Rs 350 crore to lenders

The Board of Directors of Shriram EPC, on Wednesday, discussed and cleared the issuance of non-convertible redeemable preference shares (NCRPS) worth Rs 350 crore to the lenders of the company against their loans and for other related activities. Shriram EPC is a construction company based in Chennai.