Page 9 - Corporate Earnings

Biocon Q1 net profit declines 35% to Rs 108.4 cr; revenue at Rs 1807.8 cr

Biotechnology major Biocon has reported a 35.39 per cent decline in its consolidated net profit at Rs 108.4 crore for the quarter ended June 30, 2021 mainly on account of its share of loss in associate startup entity Bicara Therapeutics Inc. The company had posted a net profit of Rs 167.8 crore for the corresponding period of the previous fiscal, Biocon said in a late night filing on Thursday. Consolidated revenue of the company stood at Rs 1,807.8 crore for the quarter under consideration. It was Rs 1,712.1 crore for the same period a year ago, it added. "Consolidated revenues, at Rs 1,808 crore, saw a muted growth on account of COVID-related operational challenges at Biocon's API facilities, both in Bengaluru and Hyderabad," Biocon Executive Chairperson Kiran Mazumdar-Shaw said. Q1FY22 P&L was also impacted by a share of loss in its Boston-based associate start-up entity, Bicara Therapeutics Inc, she added. "The outlook for the rest of the year is promising with several drug ...

Snap beats user, revenue estimates with highest growth in 4 years

(Reuters) -Snap Inc on Thursday beat Wall Street estimates for users and revenue in the second quarter, notching the highest growth rates since late 2017 as new features on its messaging app Snapchat attracted more users.

Intel raises sales forecast, second-half demand worries send shares down

(Reuters) -Intel Corp raised its annual revenue forecast above Wall Street expectations on Thursday, but Chief Executive Pat Gelsinger said the outlook for the chipmaker was still "supply constrained" and that it could take the industry two more years to catch up with rising chip demand.

Intel raises sales forecast, but supply constraint woes send shares down

(Reuters) -Intel Corp raised its annual revenue forecast above Wall Street expectations on Thursday, but Chief Executive Pat Gelsinger said the outlook for the chipmaker was still "supply constrained" and that it could take the industry two more years to catch up with rising chip demand.

B2B e-comm platform Indiamart's Q1 net profit rises 19% to Rs 88 cr

B2B e-commerce platform Indiamart Intermesh on Thursday posted a 19 per cent increase in consolidated net profit at Rs 88 crore for the quarter ended June 30, 2021.

IT firm Persistent Systems' Q1 net profit up 68% to Rs 151.2 crore

IT firm Persistent Systems on Thursday reported a 68 per cent jump in consolidated net profit to Rs 151.2 crore for the April-June quarter of this year.

CanFin Homes net rises to Rs 108.85 crore in June quarter

CanFin Homes on Thursday reported a nearly 17 per cent rise in its net profit at Rs 108.85 crore in the first quarter ended June 2021

Q1 results: HUL's net profit rises 10.7%, beats Street estimates

Health, hygiene and nutrition grow 16% over pre-Covid levels

Blackstone doubles second quarter earnings on surging asset sales

Blackstone's shares rose 4.5% on Thursday morning, pushing its market capitalization to a record high of $131 billion, overtaking Goldman Sachs Group Inc, another Wall Street heavyweight

Unilever second quarter underlying sales rise 5%, beats estimates

Unilever Plc on Thursday reported higher-than-expected underlying sales growth for the second quarter and first half as consumers cooked more meals at home

BSNL's consolidated loss narrows to Rs 7,441 crore in 2020-21: Official

State-run telecom firm BSNL has narrowed its consolidated loss to Rs 7,441.11 crore in the financial year ended on March 31, 2021, according to an official

Nokia plans to raise full-year outlook, citing strong second quarter

Nokia said on Tuesday it planned to raise its full-year outlook as business picked up pace in the second quarter, improving its expectations for the year

Earnings disappointment a risk for Indian equity investors, says JPMorgan

The Indian measure is trading at 20.8 times its forward earnings estimates for the next 12 months, during which member profits are expected to grow about 44%, according to data compiled by Bloomberg

Second Covid-19 wave, higher input cost set to weigh on Q1 earnings

Nifty50 firms' net profit expected to decline 10.1% QoQ

Levi Strauss forecasts upbeat full year as apparel demand bounces back

(Reuters) -Levi Strauss & Co on Thursday forecast a strong full-year profit after handily beating quarterly earnings estimates as demand for its jeans, tops, and jackets rebound quicker than expected across its markets.

Correction in bank stocks offers a good entry point: Gautam Duggad, MOFSL

The banking space offers tremendous long term opportunities, especially large-cap banks like HDFC Bank, ICICI Bank, Axis Bank and State Bank of India, says Duggad

Indian shares rise in choppy trading; cabinet reshuffle, earnings eyed

Indian shares edged higher on Wednesday in volatile trading, as financials helped offset a fall in auto stocks, while investors parsed through some corporate earnings that trickled in

Amid Covid, capital goods sector sees signs of hope

Indications of demand expansion for manufacturing companies, stronger balance sheets are some positives

Voda Idea cuts loss by 39.5% to Rs 7,022 cr on lower exceptional expenses

Posts highest-ever EBITDA margin, on the back of lower operating and exceptional expenses; lags peer on ARPU

Risk-reward in the market appears evenly balanced: Taher Badshah, Invesco MF

The overall economic and market set up is conducive for the mid-market segment to continue doing well, he said