Tata Power Q2 Results: Net Profit rises 10% YoY to Rs 371 crore
Tata Power Ltd. reported a 10% year-on-year (YoY) increase in consolidated net profit to Rs 370.9 crore, for the quarter ended September (Q2). The company’s consolidated revenue increased by 15% YoY to Rs 8,413 crore, during the same period. Tata Power has stated that the rise in revenue was mainly due to a higher solar EPC (engineering, procurement, and construction) income.
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ITC steps up game in India’s chocolate market with a dozen launches
ITC Limited is planning to achieve a bigger share in the Rs 11,000-crore chocolate segment in India, with over a dozen launches in the category during the festive season. The company has announced plans to give customers a differentiated experience and make a profitable business out of its chocolate segment. On 9th November, ITC had also announced the launch of around 70 products in the non-cigarettes fast-moving consumer goods (FMCG) space.
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M&M Q2 Results: Net Profit falls 3% YoY to Rs 1,311 crore
Mahindra & Mahindra Ltd. reported a 3% year-on-year (YoY) decline in consolidated net profit to Rs 1,311 crore, for the quarter ended September (Q2). The company’s revenue increased by 6% YoY to Rs 11,590 crore, during the same period. M&M has stated that it has posted a strong performance in tractor sales, and its operations have nearly recovered to pre-Covid levels.
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Gland Pharma IPO subscribed 8.6% on second day of bidding
Gland Pharma’s initial public offering (IPO) has been subscribed 8.6% on the second day of bidding. The IPO is worth Rs 6,480 crore. It has been reported that the company has received bids for 26.93 lakh equity shares against the IPO size of 3.02 crore equity shares. The issue will close on November 11.
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Godfrey Phillips India Q2 Results: Net Profit declines 9% YoY to Rs 103 crore
Godfrey Phillips India Ltd. reported a 9.23% year-on-year (YoY) decline in consolidated net profit to Rs 103.06 crore, for the quarter ended September (Q2). The total revenue from operations increased by 9.05% YoY to Rs 822.21 crore, during the same period. In a separate filing, the company stood behind its MD Bina Modi and called off allegations of illegality in her appointment. The allegations had been put forth by the company’s director Ruchir Modi.
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Tata Communications secures order from De Tune
Tata Communications Ltd. has partnered with De Tune, a global industry-leading media and entertainment company. The telecommunications company would provide media network and cloud support to De Tune’s next-generation broadcast viewing experience for live events. With the help of Tata, De Tune can now transmit media content from simultaneous event locations to its studio in Los Angeles.
Hindalco Q2 Results: Net Profit falls 60% YoY to Rs 387 crore
Hindalco Industries Ltd. reported a 60% year-on-year (YoY) decline in consolidated net profit to Rs 387 crore, for the quarter ended September (Q2). The company’s consolidated net sales increased by 5.3% YoY to Rs 31,237 crore, during the same period. Hindalco has stated that its aluminum and copper businesses have seen a sharp demand recovery to pre-Covid levels.
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Wipro wins five-year contract from ThoughtSpot
Wipro Limited announced that it has won a five-year contract for software engineering services from ThoughtSpot. As per the agreement, Wipro will improve ThoughSpot’s Search and Analytics platform to help scale future development. US-based ThoughtSpot is an Artificial Intelligence-driven analytics platform.
Raymond Q2 Results: Net Loss stands at Rs 136 crore
Raymond Ltd. reported a net loss of Rs 136 crore, for the quarter ended September (Q2). The textile firm had posted a net profit of Rs 86 crore in Q2 of the previous financial year. The company’s revenue declined by 64.2% YoY to Rs 674.21 crore in Q2 FY21.
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GAIL Q2 Results: Net Profit declines 8.5% YoY to Rs 1,068 crore
GAIL (India) Limited reported an 8.5% year-on-year (YoY) decline in net profit to Rs 1,068.16 crore, for the quarter ended September (Q2). The company’s revenue declined by 24.3% YoY to Rs 13,809.86 crore, during the same period. The Board of Directors of GAIL has approved a plan to raise Rs 10,000 crore through different forms of borrowings.
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TTK Prestige Q2 Results: Net Profit falls 19% YoY to Rs 65 crore
TTK Prestige Ltd. reported an 18.54% year-on-year (YoY) decline in consolidated net profit to Rs 65.44 crore, for the quarter ended September (Q2). The kitchen appliances firm posted a 5.17% YoY increase in total income to Rs 644.22 crore, during the same period. The company’s board has announced an interim dividend of Rs 20 per share.
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