Hindustan Zinc, SRF, Mphasis: Hindustan Zinc, SRF, MphasiS, JSW Energy, IDBI Bank,
Crisil, , , Hitachi Energy (India), , , PVR, Cyient and Can Fin Homes are among the companies that will announce their results for the quarter ending June 2022.
Wipro: The IT major reported a 21% drop in its June quarter net profit as higher employee-related costs pushed up the company’s overall expenses. The consolidated net profit at Rs 2,563.6 crore in April-June was 20.6%, lower than the net profit of Rs 3,242.6 crore during the same period a year ago.
NTPC: The public electricity giant has signed a pact with the Moroccan Agency for Sustainable Energy (MASEN) for cooperation in renewable energies. It signed a Memorandum of Understanding with MASEN for cooperation in the renewable energy sector during the 17th CII EXIM Conclave on India-Africa Growth Partnership held in New Delhi from 19-20 July 2022.
: The private lender reported a 60% rise in its first quarter consolidated net profit to Rs 1,631 crore due to lower provisioning for bad assets. The Hindujas-promoted lender had reported a net profit of Rs 1,016 crore for the April-June period in the previous financial year.
Havells India: The consumer electrical products maker posted a 3.13% rise in its consolidated net profit to Rs 243.16 crore for the June quarter as margins were hit by fluctuating raw material costs. The company had posted a consolidated net profit of Rs 235.78 crore in the April to June quarter a year ago.
Yes Bank: Former RBI Deputy Governor R Gandhi and Professor Ananth Narayan Gopalakrishnan ceased to be additional directors on the board of Yes Bank following the establishment of a new board. The move follows the RBI’s directive to the bank dated July 20, 2022.
GlandPharma: The pharmaceutical company reported a 35% drop in profits to Rs 229.2 crore for the quarter ended June 2022 due to weaker revenue growth and weak operational performance. Revenue plunged 26% year-on-year to Rs 856.9 crore in the quarter, impacted by continued supply disruptions amid a challenging macro environment.
CEAT: The tire maker reported a 61% drop in consolidated net profit to Rs 9 crore for the June quarter as high raw material prices impacted business. The Mumbai-based company had recorded a net profit of Rs 23 crore in the corresponding period last year.
AU Bank: The small financial lender reported 32% year-on-year growth in net income to Rs 268 crore in the June quarter on better asset quality and higher loan sales high which more than quadrupled. The biggest improvement in net income came from a massive improvement in asset quality, with crude falling sharply to 1.96%.
Syngene International: The contract manufacturing services company reported a 4% drop in profit after tax to Rs 74 crore for the first quarter ended June 2022. The company had posted a PAT of Rs 77 crore during the quarter from April to June of the last fiscal year.
(India): The plywood and laminates player posted a whopping 184% rise in net profit to Rs 96.47 crore for the first quarter of the current financial year amid inflationary pressure. Profit after tax was Rs 33.89 crore in the corresponding period last year.
Next generation software technologies: The IT company recorded a decline of about 11% in its consolidated profit to Rs 19.17 crore for the first quarter ended June 2022. The company had recorded a profit of Rs 21.6 crore during the same period it a year ago.
Hatsun Agro products: The dairy maker crossed the Rs 2,000 crore sales barrier for the first time in the quarter ending June 30, 2022. The company reported revenue of Rs 2,014.60 crore for the quarter ending June 30. June 2022, compared to Rs 1,538.78 crore recorded in the corresponding quarter of the previous year.
Strides Pharma Science: The local drugmaker said its board would meet next week to consider raising funds through the issuance of securities. The Bengaluru-based company did not share details of the proposed amount to be raised.
Tata Communications: The telecom company recorded an 83.63% increase in its consolidated profit to Rs 543.76 crore in the June quarter. The company had reported a profit of Rs 296.11 crore in the same period a year ago.
Properties of Shriram: The property company reported a 26% growth in sales bookings to Rs 313 crore for the June quarter on better demand and a weak base effect. It said its sales bookings by volume increased 20% to 0.66 million square feet in the first quarter of fiscal 2022-23 from 0.55 million square feet a year ago. .
Hathway Cable & Datacom: The cable and broadcasting company announced a 57.09% drop in its consolidated net profit to Rs 20.97 crore for the first quarter ended June 2022. The company had recorded a net profit of Rs 48.88 crore as of during the April-June period a year ago.
Ador welding: The electrode company received a letter of award (LOA) from the CGSB, Uran. The order includes the design, engineering, supply, short erection and commissioning of a demountable torch project based on LSTK at their ONGC’s Uran plant. The order is worth Rs 145 crore and will be fulfilled within 30 months.
Future Retail: The National Company Law Court ordered the opening of insolvency proceedings against the indebted company
while rejecting the objections raised by the e-commerce giant Amazon. The petition seeking insolvency resolution proceedings against the company was filed by Bank of India following payment defaults.
SecureKloud Technologies: The cloud-native company unveiled the AI-powered data analytics platform “DataEdge”, which can be deployed easily with zero development time. DataEdge is an easy-to-use no-code platform that allows users to process even the most complex queries in minutes rather than days.
Rane Engine Valve: Rane group of companies reported a net loss of Rs 3.1 crore for the quarter ending June 30, 2022. The city-based manufacturer of engine valves, guides and lifters, reported a net loss of Rs 5.8 crore in the corresponding quarter of the previous year.
McNally Bharat Engineering: The arbitral tribunal orders coal mining company singareni to pay Rs 242.07 crore to McNally within one month from the date of the award.