Tata Consumer Q3 Results: Net profit rises 29% YoY to Rs 218 crore
Tata Consumer Products Ltd (TCPL) reported a 29% YoY increase in consolidated net profit to Rs 218.2 crore for the quarter ended December (Q3). Its revenue from operations rose 23% YoY to Rs 3,069.6 crore during the same period. The rise in revenue was led by volume and value growth in the branded business. The revenue from its domestic beverages segment increased by 46% YoY to Rs 1,275 crore. TCPL’s revenue from the food segment stood at Rs 630 crore.
Tata Consumer Products has signed definitive agreements to acquire 100% equity shares of Kottaram Agro Foods (KAF), owner of the brand ‘Soulfull’. This move is consistent with TCPL’s strategic plans to expand its product portfolio and participate in multiple consumption occasions.
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HDFC Q3 Results: Net profit declines 65% YoY to Rs 2,926 crore
Housing Development Finance Corp (HDFC) reported a 65% YoY decline in net profit to Rs 2,925.8 crore for the quarter ended December (Q3). Its revenue fell 42.3% YoY to Rs 11,707 crore during the same period. The company witnessed a 26% YoY growth in individual loan disbursements. HDFC’s total assets under management (AUM) rose 9.3% YoY to Rs 5.52 lakh crore in Q3. Its gross non-performing assets (NPA) ratio stood at 1.67% in Q3, compared with 1.81% in Q2 FY21.
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PVR raises Rs 800 crore via QIP
PVR Limited has raised Rs 800 crore by issuing shares to a set of investors through qualified institutional placement (QIP). The QIP witnessed an allotment of over 55.55 lakh equity shares to eligible qualified institutional buyers (QIBs) at Rs 1,440 per share. The multiplex operator said the issue opened on January 27, 2021, and closed on February 1, 2021.
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Dixon Tech Q3 Results: Net profit jumps 134% YoY to Rs 62 crore
Dixon Technologies Ltd reported a 134% YoY increase in net profit to Rs 61.6 crore for the quarter ended December (Q3). Its revenue rose 120% YoY to Rs 2,182.7 crore during the same period. The company’s board has approved a stock split in the ratio 1:5 (one equity share of Rs 10 to be split into five equity shares of face value Rs 2 each). Noida-based Dixon Technologies is a contract manufacturer of televisions, washing machines, smartphones, and LED bulbs for companies such as Samsung, Xiaomi, Panasonic, and Philips.
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Escorts Q3 Results: Net profit rises 83% YoY to Rs 281 crore
Escorts Limited reported an 83.4% YoY increase in net profit to Rs 280.7 crore for the quarter ended December (Q3). Its revenue from operations rose 23.5% YoY to Rs 2,017.4 crore during the same period. The company stated that demand for tractors and other farm equipment is witnessing continuous growth. Escorts’ tractor volumes increased by 25.7% YoY to 31,562 units in Q3.
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Delhi HC says all parties in Amazon-Future dispute need to maintain status quo
The Delhi High Court on Tuesday asked Future Retail Ltd to maintain status quo (keep things the way they presently are) with respect to its Rs 24,713 crore deal with Reliance Retail. This should give interim relief to Amazon.com Inc, as it battles to foil Future Group’s asset sales to its rival. Amazon, locked in legal disputes with Future Group, alleges that the firm violated contracts by agreeing to sell its retail assets to rival Reliance Industries last year.
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BEL records turnover of Rs 2,256 crore in Q3
Bharat Electronics Ltd (BEL) reported a 3.5% YoY increase in turnover to Rs 2,256 crore for the quarter ended December (Q3). The company received orders worth Rs 4,899 crore in Q3 FY21, compared to orders worth Rs 1,260 crore received in the corresponding period last year. BEL’s order book stood at Rs 54,791 crore as of January 1, 2021, as against Rs 54,959 crore as of January 1, 2020.
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Adani Ports records 31% YoY growth in cargo volume in January
Adani Ports & Special Economic Zone (APSEZ) Ltd handled cargo volume of 26.02 million metric tonnes (MMT) in January, a growth of 31% on a year-on-year (YoY) basis. This includes a cargo volume of 3.87 MMT of Krishnapatnam Port, which was acquired by APSEZ in October 2020. During the current financial year (FY21), APSEZ handled cargo volume of 200.14 MMT, registering a growth of 8% YoY.
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Finolex Industries Q3 Results: Net profit at Rs 256 crore
Finolex Industries Ltd reported a net profit of Rs 256 crore for the quarter ended December (Q3). It had posted a net profit of Rs 93 crore in the corresponding quarter last year. The company’s revenue rose 52.5% YoY to Rs 1,066.88 crore in Q3 FY21. Finolex Industries’ board has declared a stock split in the ratio 1:5 (one equity share of Rs 10 will be split into five equity shares of face value Rs 2 each).
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Dr. Reddy’s Labs launches vigabatrin tablets in the US
Dr. Reddy’s Laboratories has announced the launch of vigabatrin tablets in the US markets. The tablets are a therapeutic equivalent generic version of Sabril tablets approved by the US Food & Drug Administration (USFDA). Vigabatrin is a prescription medicine used with other treatments in adults and children above the age of 2 years with refractory complex partial seizures (CPS).
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Alkyl Amines Q3 Results: Net profit rises 9% YoY to Rs 84 crore
Alkyl Amines Chemicals Ltd reported a 9.6% YoY increase in net profit to Rs 84.49 crore for the quarter ended December (Q3). Its revenue rose 26% YoY to Rs 313 crore during the same period. The company’s board has declared an interim dividend of Rs 10 per share.
Ajanta Pharma Q3 Results: Net profit rises 64% YoY to Rs 176 crore
Ajanta Pharma Limited reported a 64.23% YoY increase in consolidated net profit to Rs 176.63 crore for the quarter ended December (Q3). It had posted a net profit of Rs 107.55 crore during the corresponding quarter last year. The company’s revenue rose 14.98% YoY to Rs 748.74 crore during the same period. Maharashtra-based Ajanta Pharma is engaged in development, manufacturing, and marketing of pharmaceutical formulations.
