Tata Steel Q2 Results: Net profit jumps 654% YoY to Rs 12,547 crore
Tata Steel Ltd reported a 653.6% YoY jump in consolidated net profit to Rs 12,547.70 crore for the quarter ended September (Q2 FY22). Net profit increased 28% compared to the previous quarter. Its revenue from operations rose 54.8% YoY to Rs 60,282.8 crore during the same period. EBITDA jumped 182% YoY to Rs 15,566 crore. TSL’s total expenses stood at Rs 47,135.28 crore in Q2, an increase of 27.4% YoY.
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ZEEL Q2 Results: Net profit jumps 187% YoY to Rs 270 crore
Zee Entertainment Enterprises Ltd (ZEEL) reported a 187% YoY jump in consolidated net profit to Rs 270.2 crore for the quarter ended September (Q2 FY22). Its revenue from operations rose 15% YoY to Rs 1,978.8 crore during the same period. ZEEL’s subscription revenues fell 1.5% YoY to Rs 788.5 crore, while advertisement sales grew 20.7% YoY to Rs 1,089 crore in Q2. The company saw an addition of 13 million monthly average users during the July-September quarter of FY22.
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Godrej Consumer Q2 Results: Net profit rises 5% YoY to Rs crore
Godrej Consumer Products Ltd (GCPL) reported a 4.6% YoY increase in consolidated net profit to Rs 478.9 crore for the quarter ended September (Q2 FY22). Net profit increased 16% compared to the previous quarter. Its revenue from operations rose 8.5% YoY to Rs 3,163.6 crore during the same period. GCPL’s India business posted a revenue of Rs 1,838.14 crore in Q2, registering a growth of 9.5% YoY. Total expenses rose 11% YoY to Rs 2,579.45 crore.
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Piramal Ent Q2 Results: Net profit falls 32% YoY to Rs 426 crore
Piramal Enterprises Ltd (PEL) reported a 32.1% YoY decline in consolidated net profit to Rs 426.49 crore for the quarter ended September (Q2 FY22). Its revenue from operations fell 5.9% YoY to Rs 3,105.52 crore during the same period. PEL’s financial services business posted a 20.2% YoY decline in revenue to Rs 1,481.1 in Q2. The pharma business reported a revenue of Rs 1,621.42 crore, an increase of 12.5% YoY.
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Berger Paints to hike prices by 10% from Nov 12
Berger Paints Ltd will hike product prices by 10% from November 12. The company has already revised its prices by 6-7% in the past few months following pressure of rising raw material costs. Berger Paints MD Abhijit Roy is optimistic that the company would cross Rs 8,000 crore turnover in the current financial year (FY22).
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Page Industries Q2 Results: Net profit rises 45% YoY to Rs 160 crore
Page Industries Ltd reported a 44.76% YoY increase in net profit to Rs 160.48 crore for the quarter ended September (Q2 FY22). Its revenue from operations rose 46.43% YoY to Rs 1,084.01 crore during the same period. Total expenses stood at Rs 874.54 crore in Q2, an increase of 46.2% YoY. The company said its sales momentum has picked up significantly after setbacks of the Covid-19 pandemic.
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J Kumar Infra secures Rs 168 crore order for Navi Mumbai Metro Rail Project
J Kumar Infraprojects has received a Letter of Acceptance (LoA) for an order worth Rs 168 crore from Maharashtra Metro Rail Corporation (MMRL). The order consists of designing and constructing concrete & fabricated steel structures, architectural works, plumbing, and sewerage of six elevated metro stations for the Navi Mumbai Metro Rail Project.
Indiabulls Housing Finance Q2 Results: Net profit falls 11% YoY to Rs 286 crore
Indiabulls Housing Finance Ltd reported an 11% YoY decline in net profit to Rs 286 crore for the quarter ended September (Q2 FY22). Net profit increased 2% compared to the previous quarter. Its net interest income fell 7% YoY (or 16% QoQ) to Rs 625 crore during the same period. The company is on track to disburse Rs 1,000 crore of retail loans through co-lending in the October-Nov quarter (Q3).
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Zomato pulls out of all international markets except UAE
Zomato Ltd has shut down almost all its international businesses, including the United States, United Kingdom, Singapore, and now Lebanon. The company will continue to operate in the United Arab Emirates (UAE), but as a dining-out business and not a food delivery one. India is the biggest market for Zomato in terms of revenue, followed by the UAE.
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IPO Updates:
The Rs 2,073.25 crore initial public offering (IPO) of Sapphire Foods India was subscribed 6.62 times on the final day of bidding. Retail investors have subscribed 8.70 times against their reserved portion. Non Institutional investors (NIIs) and Qualified Institutional Buyers (QIBs) have subscribed 3.46 times and 7.50 times, respectively, against their reserved portions.
The Rs 600 crore IPO of Latent View Analytics was subscribed 23.22 times on the second day of bidding. Retail investors have subscribed 69.56 times against their reserved portion. Non Institutional investors (NIIs) and Qualified Institutional Buyers (QIBs) have subscribed 33.29 times and 3.51 times, respectively, against their reserved portions. To learn more about the IPO, click here.
