ACC, Tata Elxsi, Angel One, Cipla in focus

ACC: ACC reported 60% fall in consolidated net profit to Rs 227 crore despite a 15% rise in net sales to Rs 4,393 crore in Q2 June 2022 as compared with Q2 June 2021.

Larsen & Toubro Infotech (LTI): The company recorded 0.5% fall in consolidated net profit to Rs 634.4 crore on a 5.1% rise in revenue to Rs 4,522.8 crore in Q1 FY23 over Q4 FY22.

Tata Elxsi: Tata Elxsi reported 15.4% rise in net profit to Rs 184.70 crore on a 6.5% rise in revenue from operations to Rs 725.90 crore in Q1 FY23 over Q4 FY22.

Angel One: On a consolidated basis, total revenue for the quarter ended 30 June 2022 rose to Rs 669.80 crore, as compared to Rs 462.70 crore in the same period last year. Net profit surged to Rs 181.60 crore for Q1FY23, as compared to Rs 121.40 crore in the corresponding quarter of last year.

Life Insurance Corporation of India: The Board of Directors of the company approved the Report on Indian Embedded Value (IEV) as on 31 March 2022 .As on 31 March 2022, the IEV of LIC of India has been determined to be Rs.5,41,492 crore as compared to Rs.95,605 crore as on 31 March 2021 and Rs.5,39,686 crore on 30 September 2021. The IEV as of September 30, 2021 was significantly higher than the IEV of March 2021 due to the bifurcation of fund that was carried out by LIC pursuant to changes in the LIC Act during the FY 2021-22.

Cipla: The drug major said its wholly-owned subsidiary, Cipla Health, has signed definitive agreements for acquisition of Endura Mass from Medinnbelle Herbalcare. This acquisition is in line with Cipla's strategic imperative to augment the company's wellness portfolio for bringing about a shift from an illness to a wellness mindset.

Syngene International: Syngene International announced the signing of a 10-year agreement with leading animal health company, Zoetis, to manufacture the drug substance for Librela (bedinvetmab), a first in class monoclonal antibody used for treating osteoarthritis in dogs.

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