Power Grid, Tata Consumer, Lupin in focus

Power Grid Corporation of India: The company's consolidated net profit rose 10.50% to Rs 4,028.25 crore in Q3 FY24 as compared with Rs 3,645.29 crore posted in corresponding quarter last year. Revenue from operations rose 2.56% YoY to Rs 11,549.79 crore in the quarter ended 31 December 2023.

Tata Consumer Products: Tata Consumer Products reported 20.72% declined in consolidated net profit to Rs 278.87 crore in Q3 FY24 as against Rs 351.76 crore recorded in Q3 FY23. Revenue from operations rose 9.48% to Rs 3,803.92 crore in Q3 FY24 from Rs 3,474.55 crore recorded in the corresponding quarter previous year.

Lupin: The company's consolidated net profit jumped 292.6% to Rs 618.7 crore in Q3 FY24 as compared with Rs 157.6 crore posted in corresponding quarter last year. Revenue from operations rose 20.2% YoY to Rs 5197.4 crore in the quarter ended 31 December 2023 from Rs 4322.2 crore in the quarter ended 31 December 2023.

BPCL, Petronet LNG: A joint venture of Bharat Petroleum Corporation Limited (BPCL), Petronet LNG Limited (PLL), a LNG terminal-owning company, has concluded and executed a Long-term LNG Sale & Purchase Agreement (LNG SPA) with Qatar Energy for the purchase of approximately 7.5 MMTPA Liquified Natural Gas (LNG) on a long-term basis. The new agreement entails deliveries commencing from May 2028 for a duration of 20 years with supplies on a delivered basis.

Indraprastha Gas (IGL): IGL has signed Memorandum of Understanding (MOU) with two technology partners to establish Compressed Biogas (CBG) plants across four states: Delhi, Haryana, Rajasthan, and Uttar Pradesh. Additionally, IGL has already empaneled two other partners for the same purpose. The biogas produced from these 19 plants shall be fed into IGLs City Gas Distribution network.

Piramal Pharma: The USFDA conducted inspection from 29 January to 6 February 2024 at its Riverview, USA facility. On conclusion of the inspection, a Form-483 was issued with 3 observations. The observations were classified under VAI (Voluntary Action Indicated) and does not relate to data integrity.

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