L&T, Tech Mahindra, BPCL, LIC in focus

Larsen & Toubro (L&T): L&T posted a consolidated net profit of Rs 2,553 crore in Q3 FY23, registering a growth of 24% from Rs 2,055 crore recorded in Q3 FY22. The conglomerate recorded revenues of Rs 46,390 crore for the quarter ended 31 December 2022, recording a YoY growth of 17%, aided by improved execution in the Infrastructure Projects segment and continued growth momentum in the IT&TS portfolio. International revenues during the quarter at Rs 17,317 crore constituted 37% of the total revenue.

Ambuja Cements: With reference to the news item dated 30 January 2023 captioned "Adani Group said to plan Rs 3000 cr Ambuja, APSEZ buybacks", the cement major clarified to the stock exchanges that there was no such plan and hence, it was not in a position to comment on the veracity of said media report.

Ultratech Cement: Ultratech Cement said that UltraTech Cement Middle East Investments has entered into a share sale and purchase agreement with Seven Seas Company LLC, Oman, for acquisition of 70% equity shares in Duqm Cement Project International. UltraTech Cement Middle East Investments is Ultratech's wholly owned subsidiary in UAE.

Tech Mahindra: On a consolidated basis, the IT major's net profit rose marginally to Rs 1,296.6 crore in Q3 FY23 as against Rs 1,285.4 crore posted in Q2 FY23. Revenue from operations grew 4.61% quarter on quarter (QoQ) to Rs 13,734.6 crore in quarter ended 31 December 2022.

BPCL: BPCL posted a consolidated net profit of Rs 1959.58 crore in Q3 FY23 from Rs 2828.45 crore recorded in Q3 FY22. Total income rose to Rs 133783.39 crore in Q3 FY23 from Rs 118166.92 crore recorded in Q3 FY22.

Life Insurance Corporation of India (LIC): LIC's total holding under equity and debt is Rs. 35,917.31 crores as on 31 December 2022 under Adani group of companies. The total Assets Under Management by LIC are over Rs. 41.66 lakh crore as at 30 September 2022. LIC's exposure in the Adani group, as on date, is 0.975% of LIC's total AUM at book value.

Mazagon Dock Shipbuilders: Mazagon Dock Shipbuilders reported 55% jump in standalone net profit to Rs 337 crore on a 17% increase in revenue from operations to Rs 1,816 crore in Q3 FY23 over Q3 FY22.

KEC International: KEC International has secured new orders of Rs. 1,131 crore across its various businesses.

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