Page 58 - Indian Companies

Suzlon Energy posts consolidated profit of Rs 3.64 crore in June quarter

Suzlon Energy has reported a consolidated net profit of Rs 3.64 crore for the quarter ended June. The company had reported a consolidated net loss of Rs 398.86 crore in the same quarter of the previous fiscal, it said in a BSE filing. Total income rose to Rs 1,148.61 crore in the quarter from Rs 528.22 crore in the same period a year ago. The company also said the agenda pertaining to the enabling resolution for issue of securities to an extent of Rs.1,000 crore has been dropped. "The Q1 of FY22 was impacted by the second wave of the Covid-19 pandemic, making it difficult to ramp up execution. Rising global demand has disrupted the supply chain impacting availability and prices across the value chain. "Steep increase in steel prices by nearly 73.8 per cent in a year has adversely impacted our margins. Despite that, we are keeping our operations on track and continuing to build on the foundation that we created in FY21. We have maintained our quarter on quarter (QoQ) performance a

Swiss PE Partners Group to pick up controlling stake in ACT at $1.2 bn

Swiss private equity fund Partners Group is set to pick up a controlling stake in Bengaluru-headquartered wired broadband player Atria Convergence Technologies at an enterprise valuation of $1.2 bn

Near-term pressures for Motherson Sumi due to supply disruptions

Margin trajectory at international subsidiaries remains key trigger for the stock

Up to India Inc to take risks now as my govt has ushered bold reforms: PM

The prime minister said the economy was picking up pace with the efforts of industry

Non-Covid biz not back to pre-pandemic levels: Metropolis Healthcare MD

In a Q&A, Ameera Shah says, however, that the impact of the second wave on her industry segment wasn't as bad as the first

Financial creditors realised 36% of their total claims under IBC: Govt

The government on Tuesday said that financial creditors have realised Rs 2.45 lakh crore or 36 per cent of their total claims under the insolvency resolution process till the end of June.

Zomato Q1 net loss widens to Rs 356 crore; revenue rises to Rs 844 crore

Revenue from operations in Q1 rose to Rs 844.40 crore from Rs 266 crore a year ago

73% of Indian firms expect customer data breach in next 1 year: Report

Nearly 73 per cent of organisations in India expect to experience a data breach that impacts customer data in the next 12 months, a new report showed on Tuesday.

22 Indians firms included in Forbes Asia's inaugural '100 to Watch' list

Agriculture startup Aquaconnect, BeatO (biotech and healthcare), Bellatrix Aerospace (logistics and transportation), Betterplace (education and recruitment) are among the Indian firms in the list

Indiabulls Housing Fin posts 3.3% rise in Q1 net profit to Rs 282 cr

Mortgage financier Indiabulls Housing Finance on Thursday reported a marginal 3.3 per cent growth in its profit after tax at Rs 282 crore for the first quarter ended June 30, helped by a lower cost of funds. The lender had reported a profit after tax of Rs 273 crore in the year-ago quarter. Despite loan book coming down, our profitability has remained same, which tells that the company has increased its spread as the cost of funding has come down, its deputy managing director Ashwini Kumar Hooda said. The lender, in a release, said quarterly earnings have grown for the first time since the September 2018 IL&FS default and the ensuing NBFC liquidity crisis. The cost of funds has come down by 20 basis points to 8.4 per cent as of June 30, 2021, from 8.6 per cent, Hooda said. The spread on the book stood at 2.6 per cent. The net interest income improved to Rs 765 crore from Rs 731 crore in the year-ago period. The company said its collection efficiency has normalised in June and Ju

Adani Transmission net up nearly 22% at Rs 433 cr in April-June quarter

The rise of profit was mainly on the back of higher revenues

Tata Communications Q1 consolidated net profit grows 15% to Rs 296 crore

Tata Communications on Wednesday posted about 15 per cent jump in consolidated profit at Rs 296.11 crore in the quarter ended June 2021.

Tata Steel BSL posts Rs 2,478-crore consolidated net profit for June qtr

Tata Steel BSL Ltd on Wednesday returned to the black, posting a consolidated net profit of Rs 2,478 crore in the quarter ended June 30.

Indian business: From safari suits to pin striped jackets after 1991

If India is now considered having the potential to be a leading economy, the 1991 reforms made it possible.

Cos spending on Covid jabs for individuals to be considered CSR activity

Companies spending funds on COVID vaccination for individuals other than employees and their families will be considered as a CSR expenditure. The corporate affairs ministry, which is implementing the Companies Act, 2013, has issued a clarification in this regard. In March 2020, the ministry had said that spending on COVID-19 would be considered as a Corporate Social Responsibility (CSR) activity. "... it is further clarified that spending of CSR funds for COVID-19 vaccination for persons other than the employees and their families, is an eligible CSR activity," the ministry said in a circular on July 30. The activity is eligible to be considered as a CSR work under Section VII of the Act relating to promotion of healthcare, including preventive healthcare and pertaining to disaster management. "The companies may undertake the aforesaid activity subject to fulfillment of Companies (CSR Policy) Rules, 2014 and the circulars related to CSR issued by this ministry from time to time,"

Dalmia Bharat Sugar Q1 consolidated net profit dips to Rs 124 crore

Dalmia Bharat Sugar and Industries Ltd on Friday reported a marginal decline in consolidated net profit at Rs 124.34 crore for the quarter ended June.

Leadership by example critical for building culture of ethics: Murthy

Leading by example and creating "messengers" at lower levels who can share values and ethics are critical instruments for building a "culture of ethics", Infosys co-founder N R Narayana Murthy said.

Indus Towers posts consolidated profit after tax of Rs 1,415 crore in Q1

Telecom infrastructure firm Indus Towers on Thursday posted a consolidated profit after tax of Rs 1,415 crore in the first quarter ended June 30, 2021. Indus Towers had recorded profit after tax of Rs 1,121 crore in the same quarter a year ago. "The first quarter of financial year 2022 witnessed the second wave of COVID-19 pandemic impacting lives and livelihoods across the country on one hand and severe cyclones in many states on the other. Indus Towers continues to stand tall against all odds to ensure support for customers, society and nation. The company has also delivered a strong financial performance for the quarter," Indus Towers Managing Director and CEO Bimal Dayal said. The financial performance, however, is not comparable because the scheme of amalgamation and arrangement between Bharti Infratel and erstwhile Indus Towers Limited (a joint venture company) became effective on November 19, 2020. Indus Towers posted a consolidated revenue of Rs 6,797 crore in the April-Jun

Welspun Enterprises Q1 consolidated net profit rises 28% to Rs 25.66 cr

Welspun Enterprises Ltd on Thursday said its consolidated net profit rose 28.36 per cent to Rs 25.66 crore in the first quarter ended June 30.

Data breaches cost Indian companies Rs 165 mn, rising 18% from 2020: Report

Breaches worldwide cost companies $4.24 million per incident on average, says an IBM study.