Page 16 - Indian Companies

Shree Cements Ltd Q3 net profit decline 23.5% at Rs 482.70 crore

Shree Cements Ltd on Friday reported a decline of 23.57 per cent in its consolidated net profit at Rs 482.70 crore for the third quarter ended December 31, 2021. It had reported a net profit of Rs 631.58 crore in the October-December quarter a year ago, Shree Cements said in a filing to the BSE. Its revenue from operations was up 2.24 per cent at Rs 3,637.11 crore during the quarter under review as against Rs 3,557.21 crore in the corresponding quarter last fiscal. Shree Cements' total expenses were at Rs 3,131.12 crore, up 11.32 per cent in Q3/FY22, as against Rs 2,812.58 crore. Meanwhile, in a separate filing, Shree Cements informed that its board in a meeting held on Friday declared an interim dividend of Rs 45 per equity share of Rs 10 each for the financial year 2021-22. The company operates into the market with the brands -- Bangur Cement, Shree Cement, Shree Jung Rodhak and Rockstrong. Shares of Shree Cements Ltd on Friday settled at Rs 24,704 on the BSE, down 0.54 per cen

Adani Power posts Rs 218 crore consolidated net profit for Dec quarter

Adani Power on Thursday posted Rs 218.49 crore consolidated net profit for December quarter 2021-22. The company incurred a loss of Rs 288.74 crore in the year-ago period, a BSE filing stated. Total income stood at Rs 5,593.58 crore in the quarter. It was Rs 7,099.20 crore in the same period a year ago. Total expense was at Rs 5,389.24 crore in the quarter under review. In the year-ago period, it was Rs 7,304.95 crore. The company said capacity utilization was impacted in the quarter due to shortage of domestic coal and high prices of imported coal. The Tiroda plant was the only plant to report an increase in capacity utilization, whereas the Udupi plant was shut down for the entire quarter due to "backdown" by Karnataka power distribution companies on account of high import coal prices. As a result of the above, during the quarter, Adani Power achieved a consolidated average Plant Load Factor (PLF) of 40.9 per cent and sales volume of 10.5 billion units as compared to a PLF of 7

Sunil Bharti Mittal to Rashesh Shah, BS Jury lauds growth-oriented Budget

In terms of sector focus, the Budget has primarily focused on agri and MSME

Budget: Concessional rate dumped, foreign dividends now under tax ambit

The provisions of this section shall not apply from assessment year 2023-24 onwards, according to the Finance Bill

Hindustan Petroleum Q3 net profit drops 63% on inventory loss

Hindustan Petroleum Corporation Ltd (HPCL) on Monday reported a 63 per cent decline in third quarter net profit as it booked inventory losses.

Indian Oil Corp reports over 19% jump in Q3 net profit at Rs 5,861 crore

Revenue from operations rose nearly 35% to Rs 1.98 trillion

Godawari Power and Ispat Q3 net profit doubles to Rs 337 crore

Godawari Power and Ispat Ltd (GPIL) on Monday reported an over two-fold jump in net profit at Rs 336.87 crore for the quarter ended December 31, 2021. In the year-ago quarter, the company's "net profit from ordinary activities after tax" stood at Rs 166.36 crore. Total income from operations was at Rs 1,614.66 crore during October-December 2021-22 as against Rs 1,132.49 crore a year ago. Expenses were at Rs 1,160.54 crore compared to Rs 856.94 crore in same period of 2020-21. GPIL is the flagship company of Raipur-based Hira Group of Industries having dominant presence in the long product segment of the steel industry, mainly into mild steel wire.

Economic Survey: Number of space start-ups double in 2021

Two-thirds of India's space start-ups have been added in the last two years

Gender parity bid: 45% of Accenture workers are women in India

The IT services giant is working in key segments in the country such as retail, telecom, energy, auto, banking, and so on

PM Modi lauds youth for taking India to world's top 3 in creating startups

Prime Minister Narendra Modi on Friday said that India's youth has taken the nation to the top-3 in the world in terms of creating startups.

TCS world's second most valuable IT brand, Infosys fastest growing: Report

Indian IT firms outpace US competitors in Brand Finance IT services ranking

Shoppers Stop settles nearly 5% higher on strong Dec quarter numbers

Shares of Shoppers Stop defied the broader market trend and settled for the day nearly five per cent higher on Friday after the retail chain posted strong earnings for the December 2021 quarter.

Over 2,250 startups added in 2021, raised $24.1 bn: Nasscom-Zinnov report

More than 2,250 startups were added in the year 2021, over 600 more than what was added in the previous year, a report by Nasscom and Zinnov said on Friday. The study titled 'Indian Tech Start-up Ecosystem: Year of The Titans' said with rising investor confidence, startups leveraging deep-tech, and tapping unexplored talent pool, the Indian tech startup base continues to witness steady growth. As per the report, startups raised USD 24.1 billion in 2021, a two-fold increase over pre-COVID levels. In comparison to 2020, there was a 3X increase in number of high-value deals (deals more than USD 100 million), demonstrating investor confidence with a pool of active angel investors of more than 2,400 and a readiness to take significant risks, it said. While the US remains the leading source of foreign direct investment in startups, worldwide involvement is also growing. About 50 per cent of the deals had at least one India-domiciled investor, it added. The report said the startup ecosys

Govt taking significant steps to boost startup ecosystem: Piyush Goyal

The government is taking significant steps such as resolving the angel tax issue, simplification of tax procedures, and self-certification, Commerce and Industry Minister Piyush Goyal said on Friday.

77% cos believe startups aiding employment scenario in India: Report

A survey has revealed that 77 per cent of respondents believe these new-age firms have a positive role in boosting the employment scenario in the country.

Saregama India's Q3 net profit increases 37.8% to Rs 43.54 crore

Music label Saregama India on Wednesday reported a 37.78 per cent increase in its consolidated net profit to Rs 43.54 crore for the third quarter ended in December 2021.

JSW Energy net profit jumps over two-fold to Rs 324 cr in Dec quarter

JSW Energy on Wednesday reported over two-fold jump in its consolidated net profit to Rs 324 crore in December 2021 quarter, mainly on the back of higher revenues.

TV18 Broadcast's net profit falls 17.4% to Rs 311.5 crore in Dec quarter

Media firm TV18 Broadcast Ltd on Tuesday reported a 17.4 per cent drop in its consolidated net profit to Rs 311.55 crore for the third quarter ended December 2021.

Fintech firm WeRize eyes $200 mn annualised revenue run rate by 2025

It has been able to gather more than billion data points over the last 2.5 years of its customers, which helps the company to design better and customise financial products.

Start-up Inc urges policy push, focus on smaller towns for sector's growth

Founders and investors laud move to celebrate National Start-up Day on January 16 - but say that more needs to be done to help sector