L&T, Tata Motors, Axis Bank, DLF in focus

Larsen & Toubro (L&T) reported 287% rise in consolidated profit after tax to Rs 1174 crore on a 38% increase in revenue to Rs 29335 crore in Q1 FY22 over Q1 FY21. The company bagged orders worth Rs 26,557 crore at the group level during the quarter ended June 30, 2021 registering a growth of 13% over corresponding period of the previous year.

Tata Motors' consolidated net loss contracted to Rs 4,450.92 crore in Q1 June 2021 as compared to a net loss of Rs 8,437.99 crore in Q1 June 2020. Total revenue from operations soared 107.63% to Rs 66,406.45 crore in Q1 FY22 from Rs 31,983.06 crore in Q1 FY21. EBITDA margins improved by 570 bps to 8.3% in Q1 FY22 over Q1 FY21.

Axis Bank's net profit grew 94% from to Rs 2,160 crore in Q1FY22 from Rs 1,112 crore in Q1FY21. Net Interest Income (NII) grew 11% YOY to Rs 7,760 crore from Rs 6,985 crore in Q1FY21. The bank's operating profit for the quarter grew 10% YOY to Rs 6,416 crore while the core operating profit grew 13% to Rs 5,896 crore.

DLF reported consolidated net profit at Rs 337.17 crore in Q1FY22 against loss of Rs 71.52 crore in Q1FY21. Revenue jumped 92% to to Rs 1243 crore.

Biocon Biologics, a fully integrated biosimilars company and a subsidiary of Biocon, announced that U.S. based Adagio Therapeutics has granted an exclusive license to Biocon Biologics to manufacture and commercialize an antibody treatment based on ADG20 for India and select emerging markets.

Prataap Snacks informed that the commercial production at newly set up unit situated at Plot No. 5511, 5512 and 5513, Mouza - New Kolorah, District - Howrah, West Bengal has commenced yesterday, 26th July, 2021. The unit has been set up for production of extruded snacks, pellets and other snacks with a capacity of about 6,000 MT per annum.

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