Top headlines: Dr Reddy's Q1 PAT up 108%; Adani Capital IPO likely in 2024

Dr Reddy's Q1 PAT soars 108% to Rs 1,188 cr; revenue rises 6%

Backed by a substantial rise in other income, Dr Reddy's Laboratories Ltd on Thursday said its consolidated profit after tax (PAT) for the quarter ended June 30, 2022 was up by 108 per cent at Rs 1187.6 crore against Rs 570.8 crore in the same quarter a year ago.

Revenues during the quarter under discussion were up by six per cent to Rs 5,215.4 crore compared to Rs 4,919.4 crore in the first quarter of FY22. Read more

Adani Capital planning IPO as soon as 2024 at $2-bn valuation: CEO

A non-bank lender backed by Gautam Adani, Asia’s richest person, is planning to raise at least Rs 1,500 crore ($188 million) in an initial public offering in Mumbai that could take place as early as 2024.

Adani Capital’s first-time share sale will offer about a 10% stake in the shadow bank and target a valuation of around $2 billion, Managing Director and Chief Executive Officer Gaurav Gupta said. Read more

Bajaj Finserv Q1 net jumps 57% to Rs 1,309 cr; total income rises 14%

Bajaj Finserv on Thursday reported a 57 per cent jump in net profit at Rs 1,309 crore in the first quarter ended June 30, on healthy earnings by its subsidiary companies.

In the year-ago period, the company had posted a net profit of Rs 833 crore.

Company's consolidated total income during April-June period of 2022-23 was up 14 per cent to Rs 15,888 crore, Bajaj Finserv said in a regulatory filing. Read more

US: Spirit Airlines agrees to be bought by JetBlue in $3.8-bn deal

JetBlue has agreed to buy Spirit Airlines for $3.8 billion in a deal that would create the nation's fifth largest airline if approved by US regulators.

The agreement on Thursday comes a day after Spirit's attempt to merge with Frontier Airlines fell apart. Spirit had recommended its shareholders approve a lower offer from Frontier, saying that antitrust regulators are more likely to reject the bid from JetBlue. Read more