Page 18 - Company News

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.

Nestle beats Q2 sales estimate, set to raise €3 billion from joint venture

The company has been reshaping its portfolio under Chief Executive Officer Philipp Navratil, who has sought to improve growth and profitability by focusing on the company's core brands

Swiggy board approves 49.5% foreign ownership cap to gain IOCC status

Swiggy on Thursday said its board has approved a proposal to cap the company's aggregate foreign ownership at 49.5 per cent on a fully diluted basis, as part of its endeavour to qualify as an Indian-owned-and-controlled firm. The proposal will now be placed before shareholders for approval through a special resolution at the company's 13th Annual General Meeting (AGM) on August 18, a regulatory filing said. The IOCC (Indian owned and controlled company) status would allow Swiggy to directly own and sell inventory through its quick commerce brand Instamart, a move expected to improve margins and strengthen supply chain control. Rival Blinkit, owned by Eternal, follows an inventory-led model. The food delivery and quick commerce firm has been trying to qualify as an IOCC. In May, Swiggy failed to secure the requisite shareholder approval to alter its Articles of Association, through which it had aimed to qualify as an IOCC. Besides greenlighting the foreign ownership cap proposal, .

Sona Comstar profit grows 47% to ₹178.5cr in Q1FY27, revenue jumps 52%

Auto component maker Sona Comstar on Thursday reported a 47 per cent year-on-year growth in consolidated profit after tax at Rs 178.51 crore in the June quarter of FY27. The company had posted a consolidated PAT (profit after tax) of Rs 121.70 crore in the first quarter of FY 26, according to a regulatory filing. Revenue from operations during the reporting quarter rose 52 per cent to Rs 1,301.20 crore from Rs 853.90 crore recorded in June last fiscal, the filing said. Revenue share from Battery Electric Vehicle (BEV) vertical was recorded at an all-time high of 44 per cent in Q1 FY27, while the overall revenue from the segment grew strongly by 107 per cent, the company said in a statement. "Despite continued weakness in the US EV market, we delivered our highest-ever quarterly revenue; BEV revenue and BEV revenue share (in Q1). We also secured new business across EV, hybrid and ICE powertrains, spanning India, Europe and North America and nearly every product category in which we

Vishal Mega Mart Q1 net profit rises 26% to ₹259 crore, revenue up 19%

Total expenses increased 18.5 per cent to ₹3,414.19 crore, while the board proposed capping aggregate foreign ownership at 49.99 per cent, subject to shareholder approval

Domino's beats revenue estimates on supply chain business strength

The pizza chain ‌operates a supply-chain business that manufactures and distributes ingredients, pizza dough and equipment to franchised and company-owned stores