Page 40 - Company News

Adani Power won Bihar's 2,400 MW Bhagalpur project with lowest bid

The Bihar government awarded the 2,400 MW Bhagalpur (Pirpainti) power project to Adani Power Ltd after a competitive bidding process in which the Ahmedabad-based company quoted a lower electricity tariff than three other bidders, including Torrent Power and JSW Energy, sources said. The Bihar government had floated an open tender for the Bhagalpur project to meet the state's electricity demand, projected to double to over 17,000 MW by 2034-35. Four qualified bidders participated in the tender, with Adani Power quoting the lowest electricity tariff of Rs 6.075 per kWh (or per unit), sources with direct knowledge of the bidding process said. Adani Power emerged as the lowest bidder (L1) with a tariff of Rs 6.075 per kWh, comprising a fixed charge of Rs 4.165 and a fuel charge of Rs 1.91 per unit. The state government described the tariff as "highly competitive", noting that similar recent bids in Madhya Pradesh quoted higher fixed charges. Torrent Power was the second lowest bidder

Welspun Enterprises bags ₹3,145 crore order for Panjrapur water plant

Welspun Enterprises Ltd (WEL) on Friday said it has secured a new order worth Rs 3,145 crore to design, build and operate 910 MLD water treatment plant at Panjrapur, Maharashtra. Welspun Enterprises in a statement said the plant will significantly strengthen Mumbai's water supply network by leveraging advanced technologies to ensure efficient and sustainable operations. WEL said it has partnered with Veolia, a global leader in water management technologies, as its technology provider for this project. "The project valued at Rs 3,145 crore includes comprehensive civil, mechanical, electrical and instrumentation works, along with the construction of a treated water sump and pumping station," it said. According to the statement, the total contract value includes an operation and maintenance component of Rs 1,156 crore and excludes a provisional sum of Rs 29 crore. The design-build phase is scheduled for completion within 48 months, following which WEL will operate and maintain the ..

Nalco Q2 results: Net profit rises 37% to ₹1,430 crore, revenue up 7%

State-owned National Aluminium Company Ltd (Nalco) on Friday reported a 36.7 per cent rise in consolidated profit to Rs 1,429.94 crore in the quarter ended September 30, 2025. The company had posted a consolidated profit of Rs 1,045.97 crore in the year-ago period. The consolidated revenue from operations during the July-September period rose to Rs 4,292.34 crore against Rs 4,001.48 crore in the year-ago period. Nalco has lined up an investment of Rs 30,000 crore to set up a new aluminium smelter and a coal-based power plant over the next five years. Of this, Rs 18,000 crore has been earmarked for the smelter and Rs 12,000 crore will be spent on the thermal power plant. Nalco also plans to be a Maharatna firm in another five years. Nalco, a 'Navratna' company, is one of the country's largest bauxite, alumina, aluminium and power complex. Currently, the government owns 51.28 per cent stake in the PSU.

Nykaa Q2 results: Profit jumps to ₹34 crore, revenue grows 25%

FSN E-Commerce, the parent company of fashion and beauty retailer Nykaa, on Friday reported a multifold growth in consolidated net profit to Rs 34.4 crore in the September quarter. The company had posted a net profit (attributable to equity shareholders of the parent company) of Rs 10.04 crore in the year-ago period. Nykaa's revenue from operations rose 25.13 per cent to Rs 2,345.98 crore in Q2, FY26, as compared to Rs 1,874.74 crore in the year-ago period, according to regulatory filings by the company. Seen quarter-on-quarter, Nykaa's profit and revenue increased 47.64 per cent and 8.86 per cent, respectively. Nykaa's consolidated GMV (gross merchandise value) grew 30 per cent year-on-year to Rs 4,744 crore. Nykaa Founder and CEO Falguni Nayar said Q2's performance reflects accelerated growth momentum across categories. "The beauty business continues to deliver consistently, achieving over 25 per cent GMV growth for several consecutive quarters. This quarter saw accelerated bran

ED makes third arrest in Reliance Power fake bank guarantee PMLA probe

The Enforcement Directorate on Friday said it has made a fresh and the third arrest in connection with a money laundering probe against businessman Anil Ambani's group company Reliance Power linked to issuance of an alleged fake bank guarantee of Rs 68 crore. Amar Nath Dutta, a resident of Kolkata, was taken into custody on Thursday under the provisions of the Prevention of Money Laundering Act (PMLA). A special court sent him to ED custody till November 10, it said in a statement. The federal probe agency has arrested former Reliance Power CFO Ashok Kumar Pal and a private person Partha Sarathi Biswal, MD of an Odisha-based company named Biswal Tradelink, sometime back as part of this investigation. "He (Dutta) claims to provide consultancy services in Trade Financing. Dutta played an active role along with Ashok Pal and Partha Sarathi Biswal, for providing fake bank guarantees," the agency said. The case pertains to a bank guarantee of Rs 68.2 crore submitted to the Solar Energy

P&G Hygiene and Health Care net profit marginally down in Q2 FY26

The FMCG firm reported a 1% drop in net profit to Rs 209.86 crore for Q2 FY26, even as revenue rose 1.32% year-on-year to Rs 1,150.17 crore amid a dynamic market environment

Mankind Pharma Q2 PAT drops 21% on high finance costs; revenue up 20%

Mankind Pharma's Q2 FY26 profit fell to Rs 520 crore on higher finance and input costs, even as strong domestic and export growth lifted revenue by over 20%.

Adani's Kutch Copper inks deal with Australia's Caravel minerals project

Initial capital expenditure for the project is estimated at $1.10 billion, with KCL granted first rights to participate in direct equity or project-level investments during the term of the agreement

Apollo Hospitals Q2 results: Profit rises 26% to ₹477 cr, misses estimates

Medical admissions fell, compared to the same year-ago quarter that had a higher incidence of seasonal medical admissions, the company said in a statement of Thursday

Cupid to earn up to ₹115 crore annually from South Africa procurement deal

Health and wellness products maker Cupid Ltd expects its annual revenue to cross Rs 115 crore mark from the South African market, as the company has bagged the maximum allocation in the African country's procurement programme for contraceptive products, according to a statement. The procurement is expected to commence from December 2025 and Cupid is coordinating closely with South African approved distributors for phased roll out, the company said in a statement. Cupid has secured a leading position in South Africa's five-year (20252030) national procurement program for female and male condoms. The total financial visibility (annual and indicative) for Cupid is USD 12.98 million (Rs 115 crore), it said further. Aditya Kumar Halwasiya, Chairman and Managing Director, Cupid Limited, stated, "These allocations place Cupid at the forefront of South Africa's prevention program. We're working on the ground with our customers and the public-health system to ensure a smooth start in Decembe

NHPC Q2 results: Net profit rises nearly 15% to ₹1,219 cr on higher income

State-owned hydro power giant NHPC on Thursday posted a nearly 15 per cent rise in its consolidated net profit to Rs 1,219.28 crore in the September quarter compared to a year ago, mainly on the back of higher revenues. The company had a consolidated net profit of Rs 1,060.34 crore in the quarter ended on September 30, 2024, according to a regulatory filing. Total income rose to Rs 3,629.98 crore in the quarter against Rs 3,402.09 crore in the same period a year ago.

Mafatlal Industries Q2 results: Profit rises 7.8% to ₹21 cr, revenue up 3%

Mafatlal Industries Ltd, part of Arvind Mafatlal Group, on Wednesday reported a 7.76 per cent increase in its consolidated net profit to Rs 21.52 crore for the September 2025 quarter. The company had posted a net profit of Rs 19.97 crore in the July-September period a year ago, according to a regulatory filing by Mafatlal Industries, one of the country's oldest textile institutions. Its revenue from operations rose 3.43 per cent to Rs 1,029.69 crore in the September quarter of FY26. It was Rs 995.52 crore in the corresponding quarter a year ago. Total expenses of Mafatlal Industries increased 2.9 per cent to Rs 1,012.33 crore in the September quarter. Mafatlal Industries' total income, which includes other income, grew 3.09 per cent to Rs 1,040.63 crore in the second quarter. In the first half (H1) of FY26, Mafatlal Industries' total consolidated income surged 55.77 per cent to Rs 2,285.47 crore. Its CEO MB Raghunath said this is the "highest-ever half-yearly performance" in ...

Delhivery Q2 results: Net loss at ₹50.5 cr, revenue up 15% to ₹2,651 cr

Logistics services operator Delhivery on Wednesday reported a consolidated loss of Rs 50.49 crore for the September quarter against a profit of Rs 10.20 crore in the year-ago period. Its total income, however, rose 14.81 per cent to Rs 2651.53 crore in the quarter under review compared to Rs 2,309.33 crore a year ago, the company said in a regulatory filing. On a standalone basis, the profit after tax (excluding Ecom Express integration costs) during Q2 FY26 was recorded at Rs 59 crore against a PAT of Rs 10 crore in the same quarter of the last year, the company said in a statement. Its revenue from services (excluding Ecom Express) for the second quarter rose 16 per cent to Rs 2,546 crore from Rs 2,190 crore in Q2 FY25, it said. In the express parcel business, shipment volumes during the reporting quarter grew 32 per cent to 246 million from 185 million in the second quarter last year, as the Ecom acquisition led to consolidation of Delhivery's share of wallet with key clients, t

RBL Bank Q2 results: Profit up 16% to ₹160 cr, NII jumps 15% to Rs 424 cr

RBL Bank on Wednesday reported a 16 per cent rise in its net profit to Rs 160 crore for the second quarter ended September 2025. The private sector lender had recorded a net profit of Rs 138 crore in the same quarter a year ago. Its total income increased to Rs 1,458 crore during the quarter under review from Rs 1,064 crore in the same period of the last year, RBL Bank said in a regulatory filing. The bank earned an interest income of Rs 1,109 crore during the quarter compared to Rs 865 crore a year ago. The net interest income (NII) improved to Rs 424 crore from Rs 367 crore in the second quarter of the previous year, registering a 15 per cent growth. Its operating profit increased by 39 per cent to Rs 279 crore in Q2 FY26 from Rs 200 crore in Q2 FY25. With regard to asset quality, the gross non-performing assets (NPAs) rose to 1.81 per cent of the gross loans by the end of September 2025 from 1.68 per cent a year ago. However, net NPAs or bad loans declined 0.52 per cent from

Britannia appoints ex-Birla Opus chief Rakshit Hargave as new CEO

The management change comes as consumer goods makers in India are navigating period of tax rate cuts and shifting demand trends, adding pressure to protect margins and sustain growth

Blue Star Q2 results: Profit up 2.8% to ₹98.78 cr, revenue grows 9%

Air-conditioner and commercial refrigeration system maker Blue Star Ltd on Wednesday reported a 2.83 per cent rise in its consolidated net profit at Rs 98.78 crore for the September quarter. The company said that during the quarter, it faced headwinds like the extended monsoon period and disruption in sales channels due to the rationalisation in the GST slab for compressor-based cooling products. The company had posted a net profit of Rs 96.06 crore in the July-September quarter a year ago, according to a regulatory filing from Blue Star Ltd. Its revenue from operations increased by 9.3 per cent to Rs 2,422.37 crore in the September quarter of FY26. It was Rs 2,215.96 crore in the year-ago period. "During the quarter, the company reported modest revenue growth amidst a few headwinds. The Room ACs segment continued to experience a seasonal slowdown, influenced by an extended monsoon and lower temperatures impacting secondary sales and channel offtake," said Blue Star in its earnings

Saregama Q2 results: Profit dips 2% to ₹43.8 crore, revenue falls 5%

Saregama India Ltd, part of the RP-Sanjiv Goenka Group, on Wednesday reported a 2 per cent year-on-year decline in consolidated net profit at Rs 43.8 crore for the quarter ended September 30, 2025, compared to Rs 44.9 crore in the same period last year. Revenue from operations fell 5 per cent to Rs 230 crore from Rs 241.8 crore in the corresponding quarter of FY25, mainly due to a sharp drop in the video content segment, the company informed bourses. The company's profit before tax (PBT) stood at Rs 60.1 crore, marginally higher than Rs 59.3 crore a year earlier, while adjusted EBITDA rose slightly by 1 per cent to Rs 84.7 crore, maintaining a healthy margin of 37 per cent. Segment-wise, music (licensing and artiste management) revenue grew 12 per cent year-on-year to Rs 165.3 crore, supported by successful releases and strong brand tie-ups. The retail business, led by its Carvaan music players, saw a modest 2 per cent decline to Rs 20.7 crore, while the video segment revenue droppe

Air India to restart Delhi-Tel Aviv direct flights from January 2026

The Israel Ministry of Tourism on Wednesday said there will be an enhancement in connectivity with the resumption of Air India's direct flight service between New Delhi and Tel Aviv, which is set to relaunch on January 1, 2026. This is expected to provide a stimulus for tourism and economic exchange between the two nations, the Israel Ministry of Tourism said in a statement. The restored route will see five weekly flights operating from Sunday to Thursday, utilising the advanced Boeing 787 Dreamliner aircraft. The flight from Tel Aviv will depart at 11:40 am and arrive in Delhi at 8:50 pm, while the flight from Delhi will depart at 7:00 am and arrive in Tel Aviv at 9:55 am, facilitating easy onward connections. Adding to this positive momentum, Arkia Airlines, an Israeli carrier, has also expressed a strong interest in reopening its direct route to India. Arkia's recent high-level meeting with the Indian Ambassador further underscores the enormous potential and desire to strengthe

Honeywell Automation India Q2 Profit up 3.8% on stronger industrial demand

India's industrial output hit a four-month high in July, rising 4.3% year-on-year, and it rose 4.1% and 4% in August and September, respectively

Ultrahuman to relaunch in India with more products soon: CEO Mohit Kumar

The company recently launched a home health device that monitors environmental markers, as well as a blood testing service that helps users interpret results in the context of lifestyle and longevity