Page 15 - Companies

Air India to add over 90 planes in two years in first order since 2006

This includes 56 planes that are part of mega aircraft order signed with Airbus and Boeing. These will be in addition to previously announced leases of 36 planes

SPIC Ltd reports PAT for October-December quarter at Rs 85.18 crore

Southern Petrochemicals Industries Corporation Ltd (SPIC) an agri-nutrient and fertiliser company has reported profit after tax for the Oct-Dec '22 quarter at Rs 85.18 crore, the company said on Saturday. The flagship firm of Singapore-based AM International had registered a profit after tax at Rs 51.43 crore in the corresponding quarter of last year. For the nine month period ending December 31, 2022, the PAT stood at Rs 260.91 crore. The total income during the quarter under review went up to Rs 707.82 crore from Rs 497.78 crore registered in same period of last year. For the nine month period ending December 31, 2022, the total income was at Rs 2,173.11 crore. "The good quarterly performance of SPIC despite ongoing macro-economic challenges showcases the company's unwavering focus on sales, operations and profitability," company chairman Ashwin Muthiah said. The company has benefitted from a good sowing season and stable support prices, he said. "Our efforts to adopt green ...

NALCO profit up by 61% in December quarter, net profit at Rs 274 crore

NALCO, a Navratna CPSE under Ministry of Mines, posted a net profit of Rs 274 crore for the third quarter ending December 31, 2022, as against Rs 170 crore in the preceding quarter

Brigade Enterprises Dec quarter sales bookings up 48% to Rs 1,009 crore

Realty firm Brigade Enterprises Ltd's sales bookings rose by 48 per cent to Rs 1,009.7 crore in the third quarter of this fiscal on higher volumes and price realisation amid strong housing demand. The Bengaluru-based company sold residential and commercial properties worth Rs 684.2 crore in the year-ago period. According to an investor presentation by the company, the average sales realisation rose 5 per cent to Rs 6,590 per square feet during the third quarter of this fiscal from Rs 6,281 per square feet in the year-ago period. In volume terms, its sales bookings rose 41 per cent to 15,33,000 square feet in the October-December period of 2022-23 fiscal from 10,90,000 square feet in the year-ago period. Out of the total sales booking in the third quarter, the residential properties contributed Rs 939.4 crore while the commercial properties Rs 70.3 crore. On the financial front, Brigade Enterprises net profit fell to Rs 42.68 crore in the third quarter of this fiscal year from Rs 4

Indiabulls Real Estate posts Q3 net loss of Rs 236.77 crore on lower income

Indiabulls Real Estate Ltd (IBREAL) has posted a consolidated net loss of Rs 236.77 crore for the third quarter of this fiscal year on a lower income. Its net loss stood at Rs 87.04 crore in the year-ago period, according to a regulatory filing. Total income also fell to Rs 148.47 crore in the third quarter of this fiscal year from Rs 355.59 crore in the corresponding period of the previous year. During the April-December period of 2022-23 fiscal, the company's net loss stood at Rs 231.81 crore as against a net loss of Rs 76.53 crore in the year-ago period. Total income fell to Rs 515.55 crore in the first nine months of this fiscal from Rs 1,268.87 crore in the year-ago period, the Mumbai-based firm said.

Glenmark Pharma December quarter PAT rises by 21.3% to Rs 290.8 crore

Glenmark Pharmaceuticals Ltd on Friday reported a 21.3 per cent rise in consolidated profit after tax at Rs 290.8 crore for the third quarter ended December 31, 2022. The company had posted a consolidated consolidated profit after tax of Rs 239.8 crore in the corresponding quarter last fiscal, Glenmark Pharma said in a statement. Consolidated revenue was at Rs 3,463.9 crore, as against Rs 3,173.4 crore, up 9.2 per cent, it added. "We had yet another quarter with a strong performance led by robust growth across all our markets despite the challenging macroeconomic conditions," Glenmark Pharmaceuticals Chairman & Managing Director Glenn Saldanha said. The company's India business continued to record a healthy increase in secondary sales, while the US business recovered well as the year progressed and the rest of world and EU businesses also reflected formidable growth during the quarter, he added. Sales from the India formulation business in the third quarter were at Rs 1,074.5 ...

India's drug regulator serves show-cause notice to online pharmacies

Gives firms two days to respond to allegations that they flouted rules

Inox Wind consolidated net loss widens to Rs 287.86 cr in December quarter

Inox Wind on Friday reported widening of consolidated net loss to Rs 287.86 crore in the December quarter, due to higher expenses. Its consolidated net loss was Rs 63.95 crore in the quarter ended on December 31, 2021, according to a regulatory filing. Total expenses increased to Rs 522.31 crore in the October-December quarter from Rs 283.65 crore in the year-ago period. Total income of the company rose to Rs 229.07 crore in the quarter from Rs 185.91 crore in the corresponding period a year ago.

Fortis Healthcare reports flat December quarter profit at Rs 142 crore

Fortis Healthcare on Friday reported a flat December quarter net profit at Rs 142 crore. The healthcare provider had posted a net profit of Rs 142 crore in the October-December quarter of the last fiscal. Revenue from operations rose to Rs 1,560 crore in the third quarter as compared to Rs 1,467 crore in the year-ago period, Fortis Healthcare said in a regulatory filing. "Our hospital business is growing from strength to strength and today contributes to more than 75 per cent of our overall earnings (EBITDA). "It is also pertinent to highlight that the hospital performance has by and large offset the decline we have seen in the diagnostics business primarily as a result of the decline in Covid volumes," Fortis Healthcare Chairman Ravi Rajagopal noted. Revenues from key medical specialties are gaining traction, complimented by focus on continuing to onboard quality medical talent and investments in bed expansion in facilities such as Mulund and BG Road and in medical equipment such

Moody's Investor Service cuts rating outlook on 4 Adani companies

Moody's Investor Service on Friday revised downwards the rating outlook on four Adani Group companies to negative from stable after a significant and rapid decline in market value following a report by US-based short seller Hindenburg Research. In a statement, Moody's said the rating outlook for Adani Green Energy Ltd, Adani Green Energy Restricted Group, Adani Transmission Step-One Ltd and Adani Electricity Mumbai Ltd has been changed to negative from stable. "These rating actions follow the significant and rapid decline in the market equity values of the Adani Group companies following the recent release of a report from a short-seller highlighting governance concerns in the Group," it said.

A slow turn in EV sales as investor funding, state subsidies continue

Fewer than six out of every 100 vehicles sold in India are electric

Sony WH-1000XM5 review: Familiar package lifted by evolved sound experience

The WH-1000XM5 is the fifth iteration of Sony's flagship wireless headphones and competes at the top-end of the spectrum with the Bose 700 and the Apple AirPods Max

HCLTech named Titanium member at Intel awards for second straight year

Indian firm gets US tech giant's highest level of recognition technical innovation in computer networks

Short video app TikTok hands over pink slips, fires entire India staff

Most of the employees of TikTok India were working in Brazil and Dubai markets after the Centre banned the app in India in June 2020

BharatPe refutes Ashneer Grover's claim of data breach 150 mn users

Fintech platform BharatPe termed the allegations levelled by its former Managing Director and Co-founder Ashneer Grover about data leak at the company as "malicious and completely baseless"

Steel firm AM/NS India's EBITDA drops 62.75% to $162 mn in Dec quarter

Joint venture firm says lower selling price and India's duty on steel exports last year impacted business

Adani Total Gas net profit rises by 13% despite rise in input cost

Adani Total Gas Ltd -- the joint venture of Adani group and TotalEnergies of France which retails CNG to automobiles and piped gas to households -- on Thursday reported a 13 per cent increase in net profit as sales rose. Net profit of Rs 148 crore in October-December compares to Rs 132 crore earnings in the same period a year back, the company said in a statement. Revenue from operations rose to Rs 1,186 crore from Rs 932 crore. CNG sales climbed 15 per cent to 116 million standard cubic metres while piped natural gas (PNG) sales dropped 23 per cent to 70 mmscm. The profitability rose despite a 27 per cent jump in cost of natural gas it converts into CNG and piped natural gas. "During the quarter, ATGL has delivered a good performance with its calibrated approach despite the high input gas price scenario," said Suresh P Manglani, CEO of the company. While the gas sector has been seeing volatility in prices due to geopolitical issues, moderation in the international gas prices in

Subscribers leave Disney+ Hotstar; paid user base falls 6% in Dec quarter

Parent firm to fire 7,000 staffers globally to save $5.5 bn in costs, make streaming biz profitable

Sebi to auction assets of Infinity Realcon, Sunheaven Agro on Mar 13

Capital markets regulator Sebi on Thursday said it will auction 9 properties belonging to four companies -- Infinity Realcon, Bharat Krishi Samriddhi Industries, Ravi Kiran Realty India and Sunheaven Agro India -- on March 13 to recover investors' money. These companies had raised funds from investors without complying with regulatory norms. The nine properties to be auctioned include land parcels and a multi-storied building, situated across West Bengal. The total reserve price of these properties is pegged at Rs 3 crore, the Securities and Exchange Board of India (Sebi) said in a notice. Inviting bids, Sebi said auction of the properties will be conducted through online mode on March 13 during 10.30 am to 12.30 pm. Of the 9 properties to go under the hammer, 4 belongs to Bharat Krishi Samriddhi Industries, 3 relate to Infinity Realcon and one each of Sunheaven Agro India and Ravi Kiran Reality India. The regulator said the bidders should make their own independent enquiries ...

Data science company Tredence announces ESOP buyback worth $30 mn

Firm that employs 2,000 has 80% of its workforce in India, got $175 mn in funding last year