Top headlines: L&T Q1 net profit soars; Tata Motors Q1 net loss narrows

Business Standard brings you the top stories of this evening

L&T Q1 consolidated net surges four-fold at Rs 1,174 cr on higher revenue

Larsen & Toubro reported a consolidated net profit attributable to the owners of the company at Rs 1,174 crore in the June quarter, up nearly four times from the same period last year on the back of increased revenues.

It had reported a bottomline of Rs 303 crore in the corresponding period last year. Read more

Paytm eyes IPO by Oct-end, hopes to break even in 18 months: Report

Digital payments firm Paytm expects to launch its initial public offering (IPO) at around the end of October, pending regulatory approvals, a source familiar with the matter said on Monday.

Paytm, which has filed for a Rs 16,600-crore IPO that will likely be the largest ever in India, also expects to break even in 18 months, the source said, declining to be named as the matter is not public. Read more

Tata Motors posts higher-than-expected loss in Q1 at Rs 4,451 cr

Tata Motors' consolidated net loss narrowed both on a sequential and year-on-year basis to Rs 4,451 crore, but it was more-than-expected.

The Jaguar Land Rover (JLR) parent company reiterated that global chip shortages, uncertainty due to the spread of coronavirus variants and commodity inflation would impact business in the short term. Read more

DLF reports Q1 PAT of Rs 337 crore versus Rs 72 cr loss a year ago

DLF Ltd, the country’s largest realtor by market capitalisation, reported Rs 337.2 crore profit after tax (PAT) for the April-June quarter. The group had posted Rs 71.5 crore net loss during the corresponding quarter last year.

In June, the Delhi-headquartered real estate major’s operating revenue stood at Rs 1,139.5 crore, 108 per cent higher from Rs 548.6 crore last year. Read more