Page 151 - Companies

Deepak Nitrite Q3 consolidated net profit up 12% at Rs 242.46 crore

The company posted a net profit of Rs 242.46 crore for the quarter against Rs 216.56 crore in the year-ago quarter

Supreme Industries Q3 net profit down 21.3% to Rs 245.72 crore

The company had posted a net profit of Rs 312.28 crore during the October-December quarter of the previous fiscal

Zensar Technologies posts 8% dip in net at Rs 91 crore in December quarter

Zensar Technologies said its net profit declined 7.8 per cent to Rs 91 crore for the December 2021 quarter.

Demand risks likely to keep Havells India stock under pressure

The company also faces margin headwinds due to rise in raw material costs

Party-hard Dubai ponders new workweek debate: When's brunch?

Most of the nation's expatriate-dominated private sector, however, works the full day

Komaki Electric Vehicles launches motorcycle and scooter models

Komaki Electric Vehicles announced the launch of its first battery-powered cruiser motorcycle Ranger and e-scooter Venice in the domestic market

Traders' body CAIT moves CCI against Amazon deal with More Retail

Traders' body CAIT on Monday filed a complaint with the Competition Commission of India against Amazon accusing the e-commerce major of committing a fraud while seeking approval for the takeover of More Retail's stores in India. The Confederation of All India Traders (CAIT) claimed that in case of acquiring More Retail, Amazon committed the same fraud, misrepresentation of facts, misleading the CCI in the matter too as was done in takeover of Future Retail. "It amply exposes the sinister designs of Amazon to control Indian retail companies in a fraudulent manner to capture the physical retail trade and inventory-based e-commerce in India causing enormous harm to the traders," the traders' body alleged. CAIT said that Amazon has taken over More Retail through Samara Alternate Investment Fund (Samara AIF) that owns 51 per cent equity in Witzig Advisory LLP that in-turns owns More Retail Limited. It further stated that Amazon has obtained approval from CCI for the takeover of More Ret

Amazon's offer legally invalid, can't accept: FRL independent directors

Independent directors of Future Retail have turned down Amazon's offer of financial support to the company through a deal with private equity firm Samara Capital

Two-wheeler maker Hero MotoCorp to invest up to Rs 700 cr in Hero FinCorp

The country's largest two-wheeler maker Hero MotoCorp on Monday said its board has approved to invest up to Rs 700 crore in Hero FinCorp Ltd (HFCL).

B2B e-commerce firm Indiamart Intermesh posts 12% decline in Q3 net profit

B2B e-commerce firm Indiamart Intermesh on Monday posted a 12.4 per cent decline in consolidated net profit to Rs 70.2 crore in the December 2021 quarter. The company had registered a net profit of Rs 80.2 crore in the corresponding period of the last fiscal. Its revenue grew 8.3 per cent to Rs 188.1 crore in the third quarter of FY22 from Rs 173.6 crore in the year-ago period, a regulatory filing said. Indiamart registered a traffic of 259 million and unique business enquiries of 23 million during the third quarter of FY22. Supplier storefronts grew to 7 million, an increase of 10 per cent year-on-year and with a net addition of 5,833 subscribers during the said quarter, paying subscription suppliers grew to 1.56 lakh. "We are pleased to report a good financial performance in this quarter with growth in customers and deferred revenue with healthy margins and cash flows. Growing internet adoption strengthens our value proposition of helping businesses transform themselves to do ...

Markets regulator Sebi proposes framework to regulate ESG rating providers

Sebi has proposed that Credit Rating Agencies and research analysts with a minimum net worth of Rs 10 crore would be eligible to be accredited as a ESG Rating Provider

Shriram Transport Finance Q3 net down 6.47% to Rs 680.62 crore

Non-bank financing company Shriram Transport Finance Company (STFC) on Monday reported a 6.47 per cent decline in standalone profit after tax at Rs 680.62 crore in the quarter ended December 2021

Advent buys controlling stake in deal valuing Avra Labs at $100 million

Global private equity fund Advent International said it will be acquiring a controlling stake in pharma sector-focused Avra Laboratories

Quick Heal net profit grows 6% to Rs 14 crore in December quarter

Security software provider Quick Heal Technologies on Monday said its consolidated net profit grew 6.1 per cent to Rs 14.3 crore in December quarter 2021. The company had posted a net profit of Rs 13.5 crore in the year-ago period, Quick Heal said in a regulatory filing. Total revenue rose 13.9 per cent to Rs 79.6 crore in the quarter under review, from Rs 69.9 crore in the year-ago period, it added. We delivered a robust third quarter in terms of revenue, subscribers, profitability and cash flow which is a testament to our team's strong execution. Our continued commitment to secure our customers' ever-increasing online footprint helped us add 818,000 new subscribers," Managing Director and CEO Kailash Katkar said. He added that the growth in enterprise segment has been promising and the company expects the momentum to continue in the coming quarters. "In line with our strategy to boost market share, we continue to invest in R&D and strengthen leadership team that will enable us .

Cera Sanitaryware Q3 consolidated net profit up 46% at Rs 45 crore

The company had logged a net profit of Rs 30.68 crore in the year-ago period

Engineering exports up 54% to $82 bn in Apr-Dec: Commerce ministry

India's top five export destinations for engineering goods include the US, China, the UAE, Italy and Germany

Q3 report card: Mid-cap IT services companies outdo large peers

These players also have managed the supply-side constraints

Devas Multimedia shareholders to continue seizing Indian assets abroad

Unfazed by the Supreme Court upholding winding up of the company, shareholders of Devas Multimedia will continue to seek seizure of Indian government assets abroad to collect USD 1.2 billion the firm has been awarded by arbitration tribunals for cancellation of a satellite deal but are open for talks to settle the issue, their counsel said. "The decision by the Supreme Court does not change anything. The Modi government and the Indian courts cannot rewrite the facts. Their flimsy allegations of fraud will never stand up in courts outside of India," said Matthew D McGill, partner at Gibson, Dunn & Crutcher, and lead counsel for several Devas' shareholders. "A better approach for the Modi government would be to return to the negotiating table, and continue with settlement talks." Devas shareholders are pursuing Indian assets abroad to recover the awards and have got a French court order for freezing Indian properties in Paris and got partial rights over funds maintained by India ...

Sebi asks PFS to file action taken report on governance within four weeks

CARE Ratings monitoring developments at PFS

Reliance Industries may reverse feeble stock showing on strong outlook

Major rerating, however, will depend on multiple triggers playing out