Tech Mahindra, Bharti Infratel, Pfizer, United Spirits in focus

Tech Mahindra's consolidated net profit jumped 20.9% to Rs 972 crore on 4% fall in revenue to Rs 9,106 crore in Q1 June 2020 over Q4 March 2020. Sequentially, EBITDA declined 3.5% to Rs 1,301 crore while its EBITDA margin expanded by 10 bps to 14.3% during the first quarter. Profit before tax in Q1 June 2020 stood at Rs 1283.20 crore, up by 32.89% from Rs 965.60 crore in Q4 March 2020.

Bharti Infratel's consolidated net profit fell 20.68% to Rs 703.60 crore on 4.33% fall in total income to Rs 1,953.90 crore in Q1 June 2020 over Q1 June 2019.

Pfizer's net profit rose 10.32% to Rs 124.45 crore on 8.3% fall in total income to Rs 532.09 crore in Q1 June 2020 over Q1 June 2019.

United Spirits reported consolidated net loss of Rs 241.50 crore in Q1 June 2020 as compared to net profit of Rs 202.10 crore in Q1 June 2019. Total income fell 57.44% to Rs 1,037.10 crore in Q1 June 2020 over Q1 June 2019.

Nippon Life India Asset Management's consolidated net profit rose 24.64% to Rs 156.30 crore on 6.72% fall in total income to Rs 336.18 crore in Q1 June 2020 over Q1 June 2019.

ITC said the company has acquired 100% of the equity share capital of Sunrise Foods Private Limited (Sunrise) on 27th July, 2020. Consequently, Sunrise and its two subsidiaries viz., Sunrise Sheetgrah Private Limited and Hobbits International Foods Private Limited, have become wholly owned subsidiaries of the company.

Mahindra & Mahindra Financial Services is scheduled to open its rights issue on 28 July 2020. The company will issue 617,764,960 fully paid-up equity shares of face value of Rs. 2 each for cash at a price of Rs. 50 per equity share aggregating to Rs. 3088.82 crore on a rights basis to eligible equity shareholders in the ratio of one equity share for every one fully paid-up equity share held on the record date, that is 23 July 2020.

NBCC (India) received the work orders on PMC basis for construction of Police Headquarter (PHQ) in Seychelles (Cost USD 13.9 Million i.e. approx Rs. 104.19 crore) and construction of Attorney General's (AG) Office Projects in Seychelles (Cost USD 13.38 Million i.e. approx 100.30 crore). The total estimated costs of these projects are USD 27.28 million (Rs 204.49 crore).

HSIL reported net loss of Rs 17.35 crore in Q1 June 2020 as compared to net profit of Rs 14.34 crore in Q1 June 2019. Total income fell 42.33% to Rs 255.49 crore in Q1 June 2020 over Q1 June 2019.

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