ACC, ICICI Bank, Tech Mahindra in spotlight

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ACC's consolidated net profit surged 74.2% to Rs 563 crore on 22.7% increase in net sales to Rs 4,213 crore in Q1 FY21 over Q1 FY20. Cement sales volume jumped 21.49% to 7.97 million tonnes in Q1 FY21 as against 6.56 million tonnes in Q1 FY20. Sale of ready mix concrete dropped 10.75% to 0.83 million cubic metres in Q1 FY21 compared with 0.93 million cubic metres in Q1 FY20.

On a consolidated basis, the cement major's EBITDA jumped 46.75% to Rs 860 crore in Q1 FY21 as against Rs 586 crore in Q1 FY20. EBITDA margin improved to 20.4% in Q1 FY21 as compared to 17.1% in Q1 FY20. Operating EBIT soared 67.13% to Rs 717 crore in Q1 FY21 as against Rs 429 crore in Q1 FY20.

ICICI Bank on 24 April 2021 will consider fund raising by way of issuance of debt securities including non-convertible debentures/bonds/notes/offshore certificate of deposits in single/multiple tranches in any currency through public/private placement.

Tech Mahindra informed that the Investment Committee of the Board of Directors of the Company has approved the proposal to acquire 100% equity shares in DigitalOnUs, Inc. (DigitalOnUs) directly and indirectly through its wholly owned subsidiary viz. Tech Mahindra (Americas) Inc.

On a consolidated basis, ICICI Prudential Life Insurance Company net profit tanked 65% to Rs 62.51 crore on 364.6% surge in total income to Rs 19,898.29 crore in Q4 FY21 over Q4 FY20.

CRISIL's consolidated total income for the quarter ended March 31, 2021, was up 11% to Rs 508.7 crore, compared with Rs 458.2 crore in the corresponding quarter of the previous year. Profit after tax for the quarter ended March 31, 2021, was Rs 83.5 crore, compared with Rs 88.1 crore in the corresponding quarter of the previous year.

Amarjothi Spinning Mills approved sale of the land admeasuring 3 acres and 88.50 cents to AFCM Wind Farms for Rs 16 lakh.

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