NTPC, IOC, Vedanta, Tata Power in focus

NTPC: NTPC reported consolidated net profit of Rs 3417.67 crore in Q2FY23 from net profit of Rs 3690.95 crore reported in Q2FY22. Total income rose to Rs 44681.50 crore during Q2FY23 against Rs 33095.67 crore recorded in Q2FY22.

Indian Oil Corporation (IOC): The company reported consolidated net loss of Rs 910.21 crore in Q2FY23 from net profit of Rs 6,235.39 crore reported in Q2FY22. Total income rose to Rs 2,33,800.98 crore during Q2FY23 against Rs 1,72,646.31 crore recorded in Q2FY22.

Vedanta: On consolidated basis, Vedanta's net profit declined 53.71% to Rs 2,690 crore despite of 20.6% increase in revenue from operations to Rs 36,237 crore in Q2 FY23 over Q2 FY22. The mining company said that the increase in revenue was supported by higher sales volume, strategic hedging gains and foreign exchange gains; partially offset by lower commodity prices.

Tata Power Company: Tata Power Company's consolidated net profit surged 84.94% to Rs 935.18 crore in Q2 FY23 as against Rs 505.66 crore reported in Q2 FY22. Revenue from operations jumped 43.02% to Rs 14,030.72 crore in Q2 FY23 from Rs 9,810.22 crore recorded in the corresponding quarter previous year. The rise in the net profit was mainly driven by improved performance across all businesses.

Maruti Suzuki India: Considering the safety of customers and out of abundant precaution, the company has decided to recall the suspected vehicles for inspection and replacement of the faulty part, free of cost. The company has announced to recall 9,925 units of Wagon R, Celerio and Ignis manufactured between 3rd August 2022 and 1st September 2022.

Lupin: The US Food and Drug Administration (USFDA) inspected the drug maker's Nagpur Unit-2 injectable manufacturing facility from 17th to 29th October 2022. The inspection was a Pre-Approval Inspection of the injectable facility. The inspection closed with issuance of a Form-483 with five observations.

Zydus Lifesciences: Zydus Lifesciences has received final approval from the United States Food and Drug Administration (USFDA) to market Acetaminophen Injection, 1,000 mg/100 mL (10 mg/mL) single-dose vials. Acetaminophen injection is indicated to relieve mild to moderate pain and to reduce fever.

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