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Pre-tax Profit
Embattled Adani group is eyeing a 20 per cent year-on-year growth in pre-tax profits to reach Rs 90,000 crore EBITDA in 2-3 years on the back of robust growth in businesses ranging from airports to energy, according to a company note. Earlier this month, the group repaid loans aggregating USD 2.65 billion to complete a prepayment programme to cut overall leverage in an attempt to win back investor trust post a damning report of a US short seller. The ports-to-energy conglomerate is now looking at robust growth in sectors such as airports, cement, renewables, solar panels, transportation and logistics, and power and transmission, it said adding several of Adani's new infrastructure investments will also begin to fructify and generate cash in the coming years. Adani is expected to see an increase of more than 20 per cent in EBITDA on a consolidated basis in the coming years as it drives robust and sustainable growth across its business portfolio. Its target EBITDA of over Rs 90,000 ..
The Mangalore Catholic Cooperative (MCC) Bank, one of the pioneers of cooperative banks in Karnataka, has recorded a pre-tax profit of Rs 12.20 crore in the 2022-23 financial year. The 111-year-old bank has been progressively reducing the non-performing assets (NPA) and for the first time in recent years, reduced the level to 1.37 per cent, a bank release said here on Thursday. The bank has 16 fully computerised branches spread across Dakshina Kannada and Udupi districts. With its operations now confined to the parent districts of Dakshina Kannada and Udupi districts since its inception in 1912, the bank is all set to expand its area of operations to five more districts. The bank has decided to open branches in Uttara Kannada, Shivamogga, Chikkamagaluru, Hassan and Kodagu districts, with the efforts of the team led by chairman Anil Lobo. Lobo said the bank has recorded substantial growth in business and financial parameters in the financial year that ended on March 31, 2023, with
Air conditioning and commercial refrigeration maker Blue Star Ltd on Thursday saw its consolidated net profit jump to Rs 74.35 crore in the June quarter on higher demand. The company had posted a consolidated net profit of Rs 12.71 crore in the April-June quarter a year ago, Blue Star said in a regulatory filing. Its revenue from operations was up 87.28 per cent at Rs 1,970.32 crore in comparison to a lower base of the pandemic-impacted corresponding quarter. In the year-ago period, Blue Star's revenue from operations was at Rs 1,052.04 crore. "With business and economic activities at 100 per cent normalcy in the first quarter of FY23, the growth momentum witnessed in the fourth quarter of FY22 continued in the first quarter of FY23. After two consecutive summers disrupted by the pandemic, this year witnessed a normal summer without any restrictions," said an earning statement from Blue Star. Consequently, demand for all Blue Star's products and services witnessed an uptick compar