Page 11 - Company News

Tata Group FY26 revenue climbs 7.8% to ₹16.24 trn, net profit at ₹1.71 trn

Tata Group's revenue at the aggregate level grew by 7.8 per cent to Rs 16,24,030 crore in FY26, while profit after tax grew 51.9 per cent to Rs 1,70,525 crore, according to its chief N Chandrasekaran. In his address to shareholders in the annual report 2025-26 of Tata Sons, the principal investment holding firm of the Tata Group companies, Chandrasekaran said, "2026 has been a year defined by geopolitical conflicts and the unprecedented global AI investment cycle". For the Tata Group, (FY)2026 overall has been a good year in terms of financial metrics, he noted. "Tata Sons' revenue grew by 9.1 per cent to Rs 42,367 crore in FY26, while profits (after tax) grew 21.8 per cent to Rs 31,961 crore," Chandrasekaran said, adding the board of Tata Sons has recommended a final dividend of Rs 1,10,717 per share, subject to shareholders' approval. He further said, "At the aggregate level, the revenue of the Tata Group grew by 7.8 per cent to Rs 16,24,030 crore in FY26, while profits (after ta

Godfrey Phillips Q1 profit falls 44.3% to ₹198.39 crore on tax hit

Cigarette maker Godfrey Phillips India on Monday reported an on-year decline of 44.3 per cent in consolidated net profit to Rs 198.39 crore for the June quarter of this financial year, on account of a rise in taxes. The company had posted a net profit of Rs 356.28 crore during the April-June period a year ago, according to a regulatory filing from Godfrey Phillips India, the flagship company of Modi Enterprises. "Due to the steep tax increase implemented in Q4 of FY26, the profitability has declined by 44 per cent compared to the corresponding period last year," said its Chief Executive Officer Sharad Aggarwal in the earnings statement of the company. Its revenue from operations increased two-fold to Rs 3,819.56 crore during the June quarter of FY'27. It was at Rs 1,813.26 crore in the corresponding period of the previous fiscal. This was also due to high excise duty of Rs 2,614 crore paid by the company during the quarter. Minus excise, its net revenue was at Rs 1,206 crore, down

Tata Chemicals Q1 profit down 81% at ₹60 crore on higher expenses

Tata Chemicals on Monday reported an 81 per cent decline in consolidated net profit to Rs 60 crore for the quarter ended June on higher expenses. Its net profit stood at Rs 316 crore in the year-ago period. The company's total income rose to Rs 4,311 crore in the first quarter of this fiscal from Rs 3,815 crore in the corresponding period of the preceding year, according to a regulatory filing. Tata Chemicals, which is part of business conglomerate Tata Group, is a leading supplier to the glass, detergent, industrial and chemical sectors. The company has a strong presence in the crop protection business through its subsidiary company, Rallis India. Tata Chemicals has R&D facilities in Pune and Bangalore.

Tata Power board okays raising ₹4,500 cr via non-convertible debentures

Tata Power board on Monday approved raising of up to Rs 4,500 crore through non-convertible debentures or other debt securities in one or more currencies on a private placement basis. The funds raised will be utilised among other things for refinancing of existing loans, an exchange filing stated. According to the filing, the Board of Directors at its meeting held on Monday has approved issuance in one or more series/tranches, non-cumulative, redeemable, taxable, listed, and rated securities in the form of NCDs/bonds/other debt securities up to an aggregate amount not exceeding Rs 4,500 crore (Debt Securities) or its equivalent in one or more currencies on a private placement basis. The proposal was earlier approved by shareholders at the annual general meeting held on July 4, 2025.

Tata Power posts 11% higher Q1 profit, plans ₹40,000 cr transmission capex

Power major outlines ₹40,000 crore transmission investment plan by 2030 as it reports higher quarterly profit and advances nuclear and renewable energy projects

CIL's Q1 profit remains flat; higher costs weigh on operating margins

State-owned miner reports flat quarterly profit as higher operating costs offset revenue growth, while coal offtake rises on inventory liquidation

MV Electrosystems' ₹290cr IPO to open on Jul 30; price band at ₹400-425

MV Electrosystems on Monday fixed a price band of Rs 400 to Rs 425 per share for its Rs 290-crore upcoming initial public offering (IPO). At the upper end of the price band, the company's market valuation is estimated at Rs 1,160 crore post-listing. The company's maiden public offering, which is entirely a fresh issue of shares with no offer for sale (OFS) component, will open for subscription on July 30 and close on August 3, according to its statement. Proceeds from the fresh issue will support long-term working capital requirements, fund investment in research, design and development activities for new power electronic equipment, and cover general corporate purposes. MV Electrosystems is a technology-driven company engaged in designing, developing, assembling, and manufacturing electrical & power electronics equipment used in railway rolling stock. This equipment includes advanced propulsion systems for electric locomotives,and switchgear panels for railway coaches. The issue

Hudco Q1 profit zooms 35% to ₹851 crore; declares interim dividend

Housing and Urban Development Corporation Ltd (Hudco) on Monday reported a 35 per cent jump in net profit to Rs 851 crore in the first quarter ended June 2026. The state-owned company had earned a net profit of Rs 630 crore in the year-ago period. The company's total income rose to Rs 3,737 crore in the first quarter of this fiscal year from Rs 2,945 crore in the corresponding period of the preceding year, Hudco said in a regulatory filing. Hudco is a premier techno-financing public sector enterprise in the field of housing and infrastructure development. The company earned an interest income of Rs 3,710 crore during the quarter under review as against Rs 2,925 crore in the April-June quarter of the previous financial year. During the reporting quarter, the expenses also rose to Rs 2,561 crore against Rs 1,976 crore in the same period a year ago. The company has declared the first interim dividend of Rs 1.25 per equity share, which is 12.50 per cent on the face value of Rs 10 eac

Q1 results today: Coal India, BEL, Tata Power, among 68 firms on July 27

Coal India is expected to post muted earnings in the first quarter (Q1FY27), as analysts see muted offtake, subdued e-premiums and higher operating expenses impacting the company's performance.

PhonePe's FY26 net loss widens to ₹2,792 cr despite 11.5% revenue growth

The fintech firm's revenue from operations rose to ₹7,920.48 crore in FY26, but higher expenses and regulatory changes contributed to a wider annual loss

IDFC First Bank Q1FY27: Net profit rises 132% Y-o-Y to ₹1,075 crore

IDFC First Bank on Saturday reported its highest-ever quarterly profit after tax (PAT) of Rs 1,075 crore in April-June period of the current fiscal year, up 132.4 per cent from Rs 463 crore in the year-ago period. Total customer business increased to Rs 6,04,776 crore as of June 30, 2026 from Rs 5,10,031 crore as of June 30, 2025, a growth of 18.6 per cent, the bank said in a stock exchange filing. The bank further said its loans and advances increased to Rs 3,05,370 crore as of June 30, 2026 from Rs 2,53,233 crore as of June 30, 2025, a growth of 20.6 per cent. Gross NPA of the bank improved to 1.51 per cent as of June 30, 2026 from 1.97 per cent as of June 30, 2025. Net NPA, too, improved to 0.44 per cent from 0.55 per cent as of June 30, 2025. Net interest margin of the bank improved to 5.96 per cent during the quarter under review as against 5.71 per cent in the year-ago period. IDFC First Bank further said it has created a contingency provision of Rs 515 crore on a prudent ba

Fuel cost, price pressure push down Birla Corp Q1 profit 3.2% to ₹115.73 cr

M P Birla Group firm Birla C orporation on Saturday reported an on-year decline of 3.2 per cent in consolidated net profit to Rs 115.73 crore in the June quarter of this fiscal year, due to subdued realisation from cement sales and escalation in power and fuel costs. Birla Corporation had posted a net profit of Rs 119.57 crore for the April-June period a year ago, the company said in a regulatory filing. However, Birla Corporation's revenue from operations was up 7.8 per cent to Rs 2,646.45 crore in the June quarter of FY'27. It was at Rs 2,454.22 crore in the corresponding period a year ago. During the quarter, cement prices remained under pressure: price hikes introduced in April-May had to be rolled back in June amid intense competition for market share, Birla Corporation said an earnings statement. Total expenses of Birla Corporation were at Rs 2,513.71 crore, up 8.87 per cent in the June quarter. Birla Corporation's revenue from the Cement business was up 7.4 per cent to Rs .

AU SFB posts 37% rise in Q1 profit as NII grows, provisions decline

The lender's June-quarter profit was aided by strong growth in net interest income and lower provisions, although asset quality weakened sequentially

Novo Nordisk seeks orders to block Eli Lilly weight-loss drug ads

Lilly on Friday denied any wrongdoing, saying it stood by its advertising and would vigorously defend itself. Novo and Lilly are battling for dominance in the obesity drug market

Intel signals stronger growth as AI infrastructure spending gathers pace

Intel expects third-quarter revenue between $15.8 billion and $16.8 billion, compared with analysts' average estimate of $15.1 billion

Tata Consulting Engineers targets $1 billion revenue milestone by FY31

The Tata Group engineering consultancy is betting on energy, semiconductors, metals, infrastructure and manufacturing to triple its business over the next five years

Tata Consumer Products' net profit rises 27.8% in Q1 on volume-led growth

Revenue grew nearly 12 per cent as the FMCG major reported steady volume growth in tea and salt, strong gains in Tata Sampann and robust international business performance

Foreign firms rent 105 mn sq ft space since 2022 to establish GCCs in India

Foreign companies are actively setting up global capability centres (GCCs) in India, with nearly 105 million sq ft of prime office space taken on rent by them since 2022 across seven major cities, according to Colliers. Real estate consultant Colliers India on Friday released a report on 'GCCs in India: Global leadership through scale, competitiveness, talent & innovation'. "India continues to be the most preferred destination for GCCs, underpinned by its deep and diverse talent pool, cost competitiveness, robust technology ecosystem, and favourable business environment," the consultant said. There were more than 2,100 GCCs in India at the end of 2025 and the number is projected to grow at over 4,000 centres by 2030, as per the report. The rising number of GCCs is increasingly influencing office space demand. During January 2022 and June 2026 period, foreign firms, largely from the US, have rented 104.6 million sq ft of office spaces to set up GCCs across top-seven office markets.

Vedanta group's Hindustan Zinc Q1 net profit jumps over 2-fold to ₹5,469 cr

Vedanta group firm Hindustan Zinc Ltd (HZL) on Friday reported over two-fold jump in consolidated net profit to Rs 5,469 crore for the quarter ended June 30, 2026 on the back of higher metal prices, and increased metal production. The company had posted a net profit of Rs 2,234 crore in the corresponding quarter of the previous fiscal. "During the quarter, net profit stood at Rs 5,469 crore, up 145 per cent Y-o-Y," HZL said in a regulatory filing. The revenue of HZL rose by 71.6 per cent to Rs 13,033 crore during the first quarter over Rs 7,591 crore in the year-ago period. The revenue from operations rose "driven by higher metal prices, increased metal production, lead concentrate sale, higher by-product realisation, and a stronger dollar," HZL said. The board also appointed former SAIL Chairman and Managing Director Amarendu Prakash as the Chief Executive Officer and Whole-time Director of Hindustan Zinc with effect from August 1, 2026. The company further said that Amit Gupta

L&T Heavy Engineering lands large global orders worth up to ₹5,000 crore

L&T said it has received a repeat order from a Japanese customer to manufacture and supply heat exchangers and absorbers for an LNG project in Canada.