Tata Consumer Q4 Results: Net profit at Rs 133.34 crore
Tata Consumer Products Ltd reported a net profit of Rs 133.34 crore for the quarter ended March (Q4). It had posted a net loss of Rs 50 crore in the corresponding period last year (Q4 FY20). On a quarterly basis, net profit has declined by 44% in Q4 FY21. The company’s revenue from operations rose 26.2% YoY (down 1% QoQ) to Rs 3,037.22 crore during the same period. Tata Consumer opened 39 new stores and entered 7 new cities in FY21. The FMCG firm’s board has declared a final dividend of Rs 4.05 per share.
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Coforge Q4 Results: Net profit rises 17% YoY to Rs 133 crore
Coforge Limited reported a 17.08% YoY increase in consolidated net profit to Rs 133 crore for the quarter ended March (Q4). On a quarterly basis, net profit has risen by 9.02%. Its revenue from operations rose 13.7% YoY to Rs 1,261.5 crore during the same period. The IT firm secured new businesses worth $ 201 million (~Rs 1,482 crore) during the quarter. Coforge’s board has declared a dividend of Rs 13 per share.
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IEX reports 90% YoY growth in volume of power traded in April
The electricity market at the Indian Energy Exchange (IEX) posted a 90.2% YoY growth in volume to 7,707 million units (MU) in April 2021. The rise in electricity consumption has been the key factor behind the consistent performance of the exchange market. IEX’s real-time market saw its highest ever monthly volume of 1,473 MU in April, up 4.2% from March. Its day-ahead market posted a 54% YoY volume growth to 5,699 MU last month.
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Bajaj Healthcare launches ‘Ivejaj’ tablets for Covid-19 treatment
Bajaj Healthcare Ltd (BHL) announced the launch of its anti-parasitic drug ‘Ivejaj’ (Ivermectin), which is to be used for the treatment of Covid-19 infections. The pharma company has received approval from the Drugs Controller General of India (DCGI) to manufacture and market the tablets. BHL said it has successfully developed the active pharmaceutical ingredient (API) and the formulation for Ivermectin through its own in-house research & development (R&D) team.
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Praj Industries Q4 Results: Net profit jumps 109% YoY to Rs 52 crore
Praj Industries Ltd reported a 109.21% YoY increase in net profit to Rs 52 crore for the quarter ended March (Q4). Its revenue from operations rose 91.4% YoY to Rs 567.10 crore during the same period. For the financial year ended March 31, 2021 (FY21), net profit has increased by 15.11% YoY to Rs 81.07 crore. The company’s board has recommended a final dividend of Rs 2.16 per share.
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CCI orders probe against Tata Motors for alleged unfair business practices
The Competition Commission of India (CCI) has ordered a detailed probe against Tata Motors for alleged abuse of dominant position with respect to dealership agreements. The order was based on two complaints filed against Tata Motors, Tata Capital Financial Services, and Tata Motors Finance Ltd. The CCI has observed that Tata Motors has imposed unfair terms and conditions in the dealership agreement for commercial vehicles in abuse of its dominant position.
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Caplin Point Q4 Results: Net profit rises 35% YoY to Rs 66 crore
Caplin Point Laboratories reported a 35.75% YoY increase in consolidated net profit to Rs 66.37 crore for the quarter ended March (Q4). On a quarterly basis, net profit has risen by 3%. Its revenue from operations rose 22.7% YoY to Rs 288.17 crore during the same period. For the financial year ended March 31, 2021 (FY21), net profit increased by 12.69% YoY to Rs 242.28 crore.
Subex partners with Snowflake for AI-driven Augmented Analytics
Subex has partnered with US-based Snowflake to bring the power of artificial intelligence (AI)-driven Augmented Analytics to enterprises. Through Subex’s HyperSense platform, both companies will combine competencies to enable enterprises to accelerate their data analytics journey. Through the partnership, Subex and Snowflake aim to bring increased efficiency and agility to enterprises and help them create greater value for their businesses.
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Adani Transmission FY21 Results: Net profit rises 82% YoY to Rs 1,290 crore
Adani Transmission Ltd reported an 82% YoY increase in consolidated net profit to Rs 1,290 crore for the financial year ended March 31, 2021 (FY21). Its revenue from operations declined by 14% YoY to Rs 8,840 crore during the same period. The company added 2,536 circuit kilometers to its transmission network in FY21, taking the total network to 17,276 ckt km. The firm also reported strong transmission system availability at more than 99.87%.
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NTPC Renewable Energy signs PPA with GUVNL
NTPC Renewable Energy, a wholly-owned subsidiary of NTPC Ltd, has entered into a power purchase agreement (PPA) with Gujarat Urja Vikas Nigam Ltd (GUVNL) to sell electricity from its 150 megawatt (MW) solar project. As per the agreement, the project will sell power at a tariff of Rs 2.20 per kilowatt-hour (kWh). With this, NTPC’s total capacity under tariff-based competitive bidding (TBCB) tenders has increased to 1.4 gigawatt (GW).
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Adani Power Q4 Results: Net profit at Rs 13.13 crore
Adani Power Limited reported a consolidated net profit of Rs 13.13 crore for the quarter ended March (Q4 FY21). It had posted a net loss of Rs 1,312.86 crore in the corresponding period last year (Q4 FY20). Revenue from operations rose to Rs 6,902 crore, compared with Rs 6,327.57 crore in Q4 FY20. Adani Power achieved an Average Plant Load Factor (PLF) of 59.6% and aggregate sales volumes of 14.8 billion units (BU) during the quarter. This is compared with an average PLF of 65.5% and sales volumes of 16.5 BU in Q4 FY20
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