Page 10 - Company

upGrad Abroad to hire 500 freshers in 3 months to expand business

Edtech player upGrad's arm, upGrad Abroad, on Monday said it plans to add 500 members in the next three months to further expand its business footprints. The fresh recruits would be made across multiple sub-departments including sales, marketing, technology and product, upGrad Abroad said in a statement. This recruitment will mainly be fresh talent directly from college campuses and universities to accelerate employability. We have built a strong business model that is minimising geographical barriers not just for our learners but also for the back-end teams. Hence, it's critical for us to get more of such young employees on-board who are keen on international exposure and can work in sync with the brand's mission of easing the skilled talent mobility for several global economies," upGrad Abroad President Ankur Dhawan said. The vertical also expects to break even this year and cross Rs 500 crore of annual gross revenue during 2023-24. "We are building strong business pockets across

HeidelbergCement India net profit falls 62.6% to Rs 35 cr in March quarter

HeidelbergCement India Ltd on Monday reported a 62.64 per cent decline in its net profit to Rs 34.97 crore for the fourth quarter ended March 2023, on account of an increase in input costs and lower sales volume. The company had reported a net profit of Rs 93.61 crore in the January-March quarter of the preceding, HeidelbergCement India, a subsidiary of Germany-based HeidelbergCement AG, said in a BSE filing. Its total revenue from operation slipped 2.9 per cent to Rs 602.04 crore during the quarter under review against Rs 620.03 crore in the corresponding quarter previous fiscal. "Revenue decreased by 3 per cent Y-O-Y, driven by lower volume," the company said in its earning statement. Besides, total operating costs, including freight, increased by 11 per cent, mainly "due to higher input, transportation and other costs". HeidelbergCement India's total expenses increased 6.03 per cent to Rs 566.85 crore in Q4 FY23 against Rs 534.60 crore a year ago. Its total income in the March

Goodyear India profit rises 93% to Rs 33.61 crore in March quarter

The company's consolidated revenue from operation rose by 9.19 per cent to Rs 653 crore for the March quarter as compared to Rs 598 crore in the year-ago period

Medanta net profit surges over five-fold to Rs 101 cr in March quarter

Healthcare provider Global Health (Medanta) on Monday said its net profit surged over five fold to Rs 101 crore in the fourth quarter ended on March 31, 2023, aided by increase in bed capacity and higher in-patient footfalls. The company had reported a net profit of Rs 17.5 crore in the January-March quarter of 2021-22 fiscal. Revenue in the reporting quarter rose 37 per cent year-on-year to Rs 732 crore, the company said in a statement. For the financial year ended on March 31, 2023, Medanta posted a net profit of Rs 326 crore as against Rs 196 crore in FY22. Revenue rose to Rs 2,759 crore in the last fiscal as against Rs 2,206 crore in 2021-22 fiscal. "For the year and quarter ending March 31, 2023 we have registered significant growth and strong financial performance across all revenue and profitability metrics," Global Health Group CEO and Director Pankaj Sahni noted. The healthcare provider continues its planned growth in beds and infrastructure, and remain an attractive ...

Gateway Distriparks profit falls 19% to Rs 69 cr in Jan-March 2023

Inter-modal logistics operator Gateway Distriparks Ltd (GDL) on Friday reported a 19.47 per cent decline in its profit after tax at Rs 68.62 crore in quarter ended March 2023. The company had recorded a PAT (profit after tax) of Rs 85.21 crore in the same quarter of FY22, GDL said in a statement. The total revenue during Q4FY23 was recorded at Rs 390.84 crore as compared to Rs 377.04 crore top-line clocked in the fourth quarter of the fiscal year ended March 2022, it said. The rail revenue grew 5.90 per cent to Rs 309.86 crore during the March quarter last fiscal as against Rs 292.61 crore in the same period of FY22. CFS (container freight station) revenue, however, dropped 4.08 per cent to Rs 80.98 crore in the reporting period when compared to Rs 84.43 crore achieved in the March 2022 quarter, it said. GDL also said that rail volumes during the quarter under review were up 3.46 per cent at 93,509 TEUs as against 90,385 TEUs in Q4 of financial year 2021-22, while CFS throughput .

Jain Irrigation Q4 profit jumps to Rs 976 cr; reduces debt by Rs 2,800 cr

Jain Irrigation on Friday reported a more than three-fold jump in its consolidated net profit to Rs 976.9 crore during the March 2023 quarter and reduced debt by Rs 2,800 crore post-merger of its global arm with Rivulis. The company had posted a consolidated net profit of Rs 279.06 crore in the year-ago period, according to a regulatory filing. Its total income increased 27.14 per cent to Rs 1,745.41 crore during the fourth quarter of 2022-23 from Rs 1,372 crore a year ago. For the full 2022-23, the company's net profit more than doubled to Rs 831.94 crore compared to Rs 328.63 crore in FY22. The total income increased to Rs 5,761.80 crore from Rs 4,749.94 crore in the said period. "The company is back on track. Overall, it has been a good quarter. We have successfully completed the merger of Jain International Trading with Rivulis (backed by Singapore-based Temasek Group). This transaction has helped reduce the company's debt by Rs 2,800 crore," Jain Irrigation CEO and Vice ...

Fintech firm IRIS Business Services clocks Rs 4.29 cr profit in FY23

Fintech firm IRIS Business Services Ltd on Friday reported a consolidated net profit of Rs 4.29 crore in the financial year 2022-23. In the year-ago period, the company posted its consolidated net profit at Rs 1.01 crore. Its total income rose 21 per cent to Rs 74.90 crore in the 2022-23 fiscal from Rs 62.02 crore a year ago, according to a regulatory filing. Mumbai-based IRIS Business Services Ltd is operating in the RegTech (regulatory technology) space. The company offers a range of products that cater to the specific needs of organisations and regulators across different industries and geographic regions. It has been providing compliance, data, and analytics solutions to businesses in 50 countries. "All metrics point to an all-round improvement in performance," said its CFO K Balachandran. The improvement in the performance has been led by the "collect" division of the company through which the firm serves regulators, helping them collect pre-validated data from those they .

Inox Green Energy Services loss narrows to Rs 1.61 cr in March quarter

Inox Green Energy Services on Friday said its consolidated net loss narrowed to Rs 1.61 crore in the March 2023 quarter. The company had reported a consolidated net loss of Rs 1.96 crore in the quarter ended March 2022, a BSE filing showed. Its total income rose to Rs 73.33 crore in the March quarter from Rs 60.51 crore a year ago. The company's loss also narrowed in fiscal 2022-23 to Rs 20.36 crore from Rs 93.14 crore in 2021-22. The total income in the fiscal rose to Rs 294.17 crore from Rs 190.24 crore in 2021-22. The board also approved the increase in the authorised share capital of the company from the existing Rs 500 crore to Rs 600 crore by the creation of additional 10 crore equity shares of Rs 10 each and the consequent amendment to the Share Capital Clause of the Memorandum of Association of the Company.

Trident Ltd net profit falls 28% to Rs 130.66 cr in March quarter

Trident Ltd on Wednesday reported a 27.91 per cent decline in consolidated net profit to Rs 130.66 crore for the fourth quarter ended March 2023. The company had posted a net profit of Rs 181.25 crore in the January-March period a year ago, Trident said in a BSE filing. Its revenue from operations slipped 15.86 per cent to Rs 1,573.25 crore against Rs 1,869.85 crore in the corresponding quarter last fiscal. Trident's total expenses fell 13.76 per cent to Rs 1,407.45 crore in the March quarter. Its total income declined 15.75 per cent to Rs 1,580.33 crore in Q4 FY23. For the fiscal ended March 2023, Trident's net profit fell 47 per cent to Rs 441.61 crore. It reported a net profit of Rs 833.75 crore in FY22. Its consolidated revenue from operations dipped 9.5 per cent to Rs 6,332.26 crore in FY23. Meanwhile, in a separate filing Trident informed its board in a meeting held on Wednesday declared its first interim dividend of Rs 0.36 per fully paid-up equity share of Rs 1 each for

APM Terminals Pipavav Q4 profit rises 31%, Ebitda stands at Rs 129.94 cr

APM Terminals Pipavav (Gujarat Pipavav Port Ltd) on Wednesday reported a 31 per cent rise in consolidated net profit at Rs 98.13 crore for the fourth quarter of the year ended March 2023. The company had reported a profit of Rs 75.09 crore in the corresponding period a year ago. According to a company statement, revenue from operations for the fourth quarter under consideration stood at Rs 234.73 crore as against Rs 219.67 crore in the year-ago period. EBITDA for the quarter was Rs 129.94 crore from Rs 127.98 crore in Q4FY22. For the financial year ended March 31, 2023, the company reported a net profit of Rs 313.81 crore, growth of 59 per cent as compared with Rs 197.68 crore in FY22. Revenue for the fiscal year stood at Rs 916.95 crore as against Rs 741.36 crore a year ago. The container cargo business for the quarter stood at 1,99,000 TEUs, showing a robust growth of 22 per cent. APM Terminals Pipavav is one of India's leading gateway ports for containers, dry bulk cargoes, l

Biocon shares trim most of early gains, end flat amid profit-taking

Shares of Biocon trimmed most of their early gains and ended flat on Wednesday amid profit-taking. During the early trade, the stock climbed nearly 8 per cent after the biotechnology major's consolidated net profit increased 31 per cent for the March quarter. The stock gained 7.12 per cent to Rs 259.50 during the day on the BSE but failed to hold on to the momentum and ended flat. It settled at Rs 243 apiece, marginally up 0.31 pe cent. On the NSE, the stock settled at Rs 242.95 per share, a gain of 0.33 per cent after rallying 7.61 per cent to Rs 260.60 during the day. In volume terms, 18.97 lakh shares of the company were traded on the BSE and over 1.77 crore shares on the NSE during the day. On Tuesday, Biocon said its consolidated net profit increased 31 per cent to Rs 313 crore for the March quarter on the back of robust sales. The company had reported a net profit of Rs 239 crore in January-March 2021-22. Total revenue increased to Rs 3,929 crore in the fourth quarter as a

Hitachi Energy net profit dips 1.68% to Rs 51 cr in March quarter

Hitachi Energy on Wednesday said its net profit dipped 1.68 per cent to Rs 50.81 crore in March quarter 2022-23. The company reported a net profit of Rs 51.68 crore for the year-ago period, according to a BSE filing. Total income rose to Rs 1,336.30 crore from Rs 1,142.13 crore in the same period a year ago. The company received an order worth Rs 1,262 crore in the fourth quarter, which was higher than Rs 1,043.6 crore in the year-ago period. As of March 31, 2023, the order backlog stood at Rs 7,071 crore, providing revenue visibility for the coming quarters, it stated. "Our success is a result of our focused strategy, diversified portfolio, and relentless pursuit for improving the bottomline," N Venu, Managing Director and Chief Executive Officer of Hitachi Energy India, said in a statement. He stated that the price of certain commodities specific to this industry remain high and chips & electronics shortage persists. "We have resiliently navigated these challenges and remain .

Cummins reports 61% jump in Q4 profit on robust domestic, int'l demand

The company reported consolidated profit after tax at 3.49 billion rupees ($42.7 million) in the three months ended March 31, compared to 2.16 billion rupees a year earlier

India Cements to monetise about 1,000 acres land in TN, posts loss for FY24

This was compounded by one off charges on account of impairment of certain investments and advances amounting to about Rs 114 crore

Fortis Healthcare net profit rises 59% to Rs 138 cr in March quarter

Fortis Healthcare on Tuesday said its consolidated net profit increased 59 per cent to Rs 138 crore for the March quarter, on the back of strong performance in the hospital business. The healthcare major had reported a net profit of Rs 87 crore in the January-March quarter of 2021-22 fiscal. Total income rose to Rs 1,656 crore in the fourth quarter over Rs 1,384 crore in the fourth quarter of 2021-22 fiscal, Fortis Healthcare said in a statement. For the year ended March 31, 2023, the company's net profit declined to Rs 633 crore as against Rs 790 crore in 2021-22 fiscal. However, adjusted PAT (profit after tax) of the company stood at Rs 559 crore for the last fiscal as compared with Rs 475 crore in FY22, the company added. Fortis Healthcare Chairman Ravi Rajagopal said the hospital business continues to perform well across all financial and operating parameters. "We remain well-positioned for our next phase of growth comprising brownfield bed expansion in order to expand and cr

Dish TV CEO Atul Dua to quit, company proposes Manoj Dobhal new chief

Dish TV on Tuesday proposed to appoint Manoj Dobhal as the new CEO of the company as incumbent Anil Dua has decided to quit the direct-to-home company. Dobhal is the current Chief Operating Officer (COO) of the company. Dish TV is embroiled in a tussle between its largest shareholder Yes Bank Ltd (YBL) and the promoter family led by its former chairman Jawahar Lal Goel over board representation in the company. The company is unable to pass its annual statements from the last two years and get approval from shareholders over the appointment of directors, leaving certain positions vacant. Leading stock exchanges BSE and NSE have fined Rs 10,000 each to the direct-to-home operator Dish TV over non-compliance over the composition of the board, Dish TV said in a regulatory filing. "BSE Ltd and NSE Ltd had issued communications dated May 22, 2023, to the Company, pertaining to Non-compliance with the requirements pertaining to the composition of the Board' for the quarter ended March 31

Dixon Technologies profit climbs 27.7% to Rs 80.62 cr in March quarter

Dixon Technologies (India) Ltd on Tuesday reported a 27.7 per cent rise in consolidated net profit at Rs 80.62 crore for the fourth quarter ended March 31, 2023. The company had posted a net profit of Rs 63.13 crore for the January-March period a year ago, the electronic manufacturing services firm said in a BSE filing. Its revenue from operations increased 3.81 per cent to Rs 3,065.45 crore as against Rs 2,952.75 crore in the year-ago period. Total expenses of Dixon Technologies were Rs 2,956.76 crore, up 3.10 per cent in Q4FY23. Dixon Technologies' total income in the March quarter was at Rs 3,067.27 crore. For the fiscal ended March 2023, Dixon Technologies net profit climbed 34 per cent to Rs 255.08 crore. It reported a net profit of Rs 190.33 crore in FY22. Its consolidated revenue from operations was Rs 12,192.01 crore in FY23, 14 per cent higher than the preceding fiscal. Its board, in a meeting held on Tuesday, recommended a final dividend Rs 3 per equity share of the fa

Schneider Electric Infra profit grows to Rs 44.8 cr in March quarter

Schneider Electric Infrastructure (SEIL) Ltd on Tuesday posted a multi-fold jump in its net profit to Rs 44.8 crore during the January-March quarter, boosted by higher income. It had clocked a net profit of Rs 7 lakh during the January-March quarter of the preceding 2021-22 fiscal, the company said in a regulatory filing. The company's total income rose to Rs 414.4 crore in the reported quarter from Rs 343.1 crore in the year-ago quarter. Expenses were at Rs 369 crore as against Rs 340.4 crore a year ago. SEIL manufactures a wide range of products that includes transformers, power transformers, switchgears, medium voltage switchgears among others. It has four manufacturing facilities -- two in Vadodara, and one each in Kolkata and Chennai.

Akzo Nobel India consolidated net profit rises 27% to Rs 95.4 crore in Q4

Paints and coatings maker Akzo Nobel India Ltd on Tuesday reported a 2 per cent decline in its consolidated net profit to Rs 95.4 crore for the fourth quarter ended on March 31, 2023. The company had posted a net profit of Rs 97.4 crore during the January-March quarter a year ago, Akzo Nobel said in a regulatory filing. Its revenue from operations was up 9.72 per cent to Rs 951.4 crore during the quarter under review as against Rs 867.1 crore in the corresponding period of the previous fiscal. Total expenses of Akzo Nobel were at Rs 824.9 crore, up 33.73 per cent in the last quarter of FY23 as against Rs 514.42 crore a year ago. For the fiscal ended March 2023, Akzo Nobel India's net profit was up 15.51 per cent to Rs 335.1 crore. It reported a net profit of Rs 290.1 crore in FY22. Its consolidated revenue from operations was Rs 3,802.1 crore in FY23, 20.75 per cent higher than the preceding fiscal. Shares of Akzo Nobel India on Tuesday settled at Rs 2,506.20 on BSE, up 2.75 per

GE T&D India's loss narrows on lower input costs in March quarter

BENGALURU (Reuters) - GE T&D India Ltd, which manufactures power transmission and distribution equipment, reported a narrower fourth-quarter loss on Tuesday, as the company kept a tight lid on expenses.