Page 6 - Company News

Eli Lilly backs crackdown on fake Mounjaro in Gurugram, flags safety risks

Authorities in Gurugram have uncovered a racket involved in the manufacturing and sale of fake Mounjaro (tirzepatide) injections - used for treating diabetes and obesity - with the arrest of two people and issued a nationwide alert to trace counterfeit batches. Following the confiscation of counterfeit injections, pharmaceutical company Eli Lilly, the manufacturer of Mounjaro, reacted to the seizure. "We have been made aware of a recent development in relation to the seizure of suspicious and counterfeit products that allegedly carry our product brand name Mounjaro (Tirzepatide)...Lilly takes patient safety extremely seriously and welcomes regulatory authority's action against illicit medicines," Eli Lilly and Company (India) spokesperson said. Drug Control Officer Amandeep Chauhan on Monday said investigators are probing the network behind the illegal operation and tracking all those linked to the racket. A Health Department team raided a residential society in Sector 62, Gurugram

SML Mahindra Q4FY26 PAT rises 2.4% to ₹54 crore, top line surges 16%

Despite modest profit growth, SML Mahindra reports strong revenue gains and outlines plans to expand market share and enter electric bus segment

Bank of Maharashtra Q4 FY26 results: Profit jumps 35% to ₹2,014 crore

State-owned Bank of Maharashtra on Monday reported a 35 per cent rise in net profit to Rs 2,014 crore in the January-March quarter of 2025-26. The Pune-headquartered bank had earned a net profit of Rs 1,493 crore in the year-ago period. During the quarter, the bank's total income increased to Rs 8,693 crore against Rs 7,711 crore a year ago, the bank said in a regulatory filing. Interest income grew to Rs 7,755 crore during the period under review, from Rs 6,731 crore in the corresponding quarter a year ago. On the asset quality side, gross Non-Performing Assets (GNPAs) declined to 1.45 per cent of gross advances as of March 2026 from 1.74 per cent by the end of March 2025. Net NPAs also came down to 0.13 per cent of the advances from 0.18 per cent at the end of 2025. Return on Assets (ROA) improved to 1.86 per cent for the year ended March 2026 against 1.75 per cent at the end of pthe revious fiscal. However, the capital adequacy ratio of the bank declined to 18.36 per cent as

Apple withholds data in India antitrust case, watchdog sets final hearing

The CCI typically requires financial information from companies to calculate penalties when they are found to have contravened the law

Groww Q4FY26 results: Net profit doubles to ₹686 crore as revenue surges

Billionbrains Garage Ventures, the parent company of stock broking firm Groww, on Monday reported an over two-fold growth in profit after tax to Rs 686 crore for the three months ended March 2026. The company had posted a PAT of Rs 309 crore in the same quarter preceding fiscal. Its total income surged 81 per cent year-on-year to Rs 1,536 crore in the quarter under review from Rs 850 crore in the January-March quarter of 2025, Bengaluru-headquartered Groww said in a stock exchange filing. The firm's total transacting users stood at 2.16 crore at the end of the March quarter, marking a 25 per cent year-on-year (YoY) growth. Its active user base stood at 1.67 crore. Further, its total customer assets accelerated 36 per cent year-on-year to Rs 3 lakh crore. "Operating leverage played out across all the cost buckets, leading to PAT margin expanding by 8.3 per cent YoY ...and an absolute PAT margin of 44.7 per cent in Q4. As the revenue increases faster than the costs, which are largel

Rachana Bahadur nammed advisor to DP World Professional Golf Tour of India

The DP World Professional Golf Tour of India on Saturday announced the appointment of Rachana Bahadur, senior vice president and country head India at Synchrony Financial, as an advisor to the organisation. Bahadur brings over three decades of experience across banking, operations and risk management. She is currently serving as Senior Vice President and Country Head for Synchrony India. "I am honoured to join the DP World Professional Golf Tour of India as an Advisor," Bahadur said in a release. "The DP World PGTI has played a pivotal role in developing and promoting professional golf in India, and I deeply admire its commitment to nurturing talent and creating opportunities for players. I look forward to contributing to its mission of elevating Indian golf on the global stage." She held senior leadership roles at Goldman Sachs, JPMorgan Chase and Morgan Stanley, and has over 18 years of global experience spanning the US, Asia and Europe. Kapil Dev, president, Professional Golf

Lenskart publishes store style guide after row over religious expression

Company releases guidelines outlining inclusion of faith symbols following employee allegations and social media posts

Yes Bank Q4 results: PAT up 44.7% to ₹1,068 crore on income, asset quality

Private sector lender reports strong Q4 with 44.7 per cent rise in profit, aided by lower provisions, steady income growth and improving asset quality metrics

HDFC Bank Q4FY26 results: Profit up 9% to Rs 19,221 cr on lower provisions

India's largest private lender posts 9 per cent rise in Q4FY26 net profit, supported by lower provisions, while net interest income growth remains muted and margins stay stable

USFDA flags 3 manufacturing compliance lapses at Lupin's New Jersey unit

Pharma major Lupin Ltd on Saturday said the US health regulator has issued Form 483 with three observations to its Somerset, New Jersey, facility in the US following an inspection. The USFDA has concluded the inspection at our manufacturing facility located in Somerset, New Jersey, USA, Lupin said in a regulatory filing. "The inspection was conducted from April 13, 2026, to April 17, 2026, and closed with the issuance of a Form-483 with three observations," it added. The company further said, "We will address the observations and respond to the USFDA within the stipulated timeframe". Lupin said it is "committed to be compliant with CGMP standards across all our facilities". According to the US Food and Drug Administration (USFDA), Form 483 is issued to a firm's management at the conclusion of an inspection when the investigator has observed any conditions that may constitute violations of the Food, Drug and Cosmetic (FD&C) Act and related Acts.

ICICI Bank's net profit up 8.5% in Q4 FY26 to ₹13,701.7 crore

Private sector lender posts 8.5 per cent rise in Q4FY26 net profit, supported by lower provisions and steady income growth, while asset quality continues to improve

Network18 Q4 FY26 results: Loss widens to ₹29.6 cr, revenue up 9.7% Y-o-Y

Network18 Media & Investments Ltd on Saturday reported a consolidated net loss of Rs 29.61 crore in the quarter ended on March 31, 2026. The company reported a net loss of 29.09 crore in the January-March quarter a year ago, according to a regulatory filing by Network18 Media, a subsidiary of billionaire Mukesh Ambani-led Reliance Industries Ltd. Its consolidated revenue from operations rose by 9.7 per cent to Rs 615.78 crore in the March quarter compared to Rs 561.32 crore in the corresponding quarter in the last fiscal. Consolidated operating revenue for the quarter increased by 9.7 per cent "despite the multiple headwinds in the macro environment. On a QoQ basis, the revenue grew 14.2 per cent," said Network18 Media & Investments in its earnings statement. Advertising inventory demand for the TV news industry declined by 10 per cent YoY, but Network18's inventory grew 4.5 per cent, helping the company perform better than the industry. "Company's diversified portfolio, ...

ICICI Bank Q4FY26 result: Profit rises 9% to ₹14,755 cr as provisions drop

ICICI Bank's consolidated net profit increased by 9.28 per cent to Rs 14,755 crore in the March quarter, according to an exchange filing on Saturday. It had reported a consolidated net profit of Rs 13,502 crore in the year-ago period. On a standalone basis, the second-largest private sector lender's net profit rose 8.5 per cent to Rs 13,702 crore compared to Rs 12,630 crore in the year-ago period. For the recently ended fiscal year 2025-26, its post-tax profit increased 6.2 per cent to Rs 50,147 crore from Rs 47,227 crore in FY25. In the reporting quarter, the bank posted an 8.4 per cent increase in the core net-interest income to Rs 22,979 crore, while the non-interest income, excluding treasury, rose 5.6 per cent to Rs 7,415 crore. The operating expenses grew 12 per cent to Rs 12,089 crore for the reporting quarter. From an asset quality perspective, the gross non-performing assets ratio improved to 1.40 per cent from 1.53 per cent in December and 1.67 per cent a year ago. Its

Hathway Cable Q4FY26 result: Net profit declines 67.7% to ₹11.25 crore

Hathway Cable & Datacom Ltd, provider of cable and internet services, has reported a 67.7 per cent decline in its consolidated net profit to Rs 11.25 crore for the fourth quarter ended March 2026. The company had posted a net profit of Rs 34.8 crore in the January-March period a year ago, according to a regulatory filing by Hathway Cable, owned by Reliance Industries Group, on late Friday. Its revenue from operations increased 6.37 per cent to Rs 545.85 crore in the March quarter. It was Rs 513.15 crore in the year-ago period. Hathway's revenue from its Cable TV business was Rs 391.61 crore and Rs 143.15 crore from broadband services in Q4 of FY26. Total expenses of Hathway Cable rose 6.6 per cent to Rs 543.79 crore. Hathway Cable's total income, which also includes other income, increased 3.6 per cent to Rs 566.2 crore in the December quarter. For the entire FY26, the profit of Hathway Cable & Datacom declined 11.13 per cent to Rs 82.24 crore. Its total income increased 4.52 .

Cognizant CEO's compensation grew 28% to $21.5 million last year

Ravi Kumar's pay rises on higher stock awards, while CFO Jatin Dalal's compensation declines; proxy filing details executive payouts

Jio Financial Services Q4 results: Net profit dips 14% to ₹272 crore

The company declared a dividend of Rs 0.60 per equity share of ₹10 each for the financial year ended March 31, 2026

'Golden Ticket': VC company funds Indian AI startups' shift to US

All In Capital invests $350,000 in Vasuki AI, marking first relocation under its Golden Ticket programme aimed at helping Indian AI startups access global capital and scale

HDFC AMC Q4 profit dips 2.4% to ₹623 crore; revenue rises 17% Y-o-Y

HDFC Asset Management Company (AMC) on Thursday reported 2.4 per cent decline in consolidated profit after tax (PAT) at Rs 622.66 crore for the three months ended March 2026. The company posted a PAT of Rs 638.46 crore in the year-ago period, the fund house said in a regulatory filing. However, revenue from operations grew 17 per cent year-on-year to Rs 1,051.51 crore in the quarter under review. The company's board has recommended a final dividend of Rs54 per equity share for financial year ended March 31, 2026. This is subject to shareholders' approval. For full financial year FY26, the fund house's profit after tax grew 16 per cent year-on-year to Rs 2,858.06 crore, and revenue from operations rose 18 per cent to Rs 4,122.16 crore. Also, the board approved the appointment of Rajan Anandan as an invitee and external expert on the Technology Committee to provide an independent, high-level guidance and advise in the technology-related matters. His appointment is for a period of th

TSMC profit for Jan-Mar qtr jumps 58% on AI demand, flags Iran war risks

Taiwan's chipmaker TSMC, one of the world's largest companies, reported a 58 per cent jump in profit on Thursday for the January-March quarter, thanks to strong demand driven by the artificial intelligence boom, even as the Iran war was driving up costs. Taiwan Semiconductor Manufacturing Corp., a key supplier for Apple and Nvidia and the largest contract chipmaker in the world, reported a record net quarterly profit of 572.5 billion new Taiwan dollars (USD 18.1 billion) for the first three months of the year, better than analysts had expected. Profit for the quarter was 58.3 per cent higher compared to the 361.6 billion new Taiwan dollars (USD 11.5 billion) booked in the same period a year earlier. It was also 13.2 per cent higher compared with the previous quarter in October-December. Revenue increased 8.4 per cent in the January-March period from the previous three months to USD 35.9 billion, the company said. For the current April-June quarter, TSMC expects revenue to further gr

CCI closes Adani case, says company has no 'dominance' in power market

A key finding of the Commission was that the Adani Group does not hold a "dominant" position in the relevant market