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In News

L&T Technology Services: The company recorded a 23 percent year-on-year growth in consolidated profit at Rs 283.2 crore for the quarter ended September FY23, supported by strong topline growth. Revenue increased by 24 percent YoY to Rs 1,995 crore in Q2FY23, with deal wins at $60 million plus. Revenue in dollar terms increased by 13.6 percent YoY to $247.1 million and revenue growth in constant currency was 18 percent YoY.

Praj Industries: The company registered a massive 44.4 percent year-on-year growth in consolidated profit at Rs 48.13 crore for the quarter ended September FY23, backed by healthy topline and operating income growth. Revenue grew by 64.64 percent to Rs 876.6 crore compared to the corresponding period last fiscal.

ICICI Lombard General Insurance Company: The company reported a 32 percent year-on-year growth in profit after tax at Rs 590.5 crore for Q2FY23. Net premium earned jumped 18 percent to Rs 3,836.55 crore compared to the corresponding period last fiscal. The company has declared an interim dividend of Rs 4.50 per share for the financial year ended March 2023.

Tinplate Company of India: The company posted a loss of Rs 35.1 crore for Q2FY23, against a profit of Rs 75 crore in the year-ago period impacted by an increase in inventories and other expenses and lower topline. Revenue declined nearly 2 percent YoY to Rs 959.55 crore for the quarter ended September FY23.

Adani Enterprises: Adani Defence & Aerospace, a subsidiary of Adani Group, has decided to acquire Air Works for an enterprise value of Rs 400 crore. Adani Defence Systems & Technologies has signed definitive agreements for the acquisition of Air Works, the biggest and highly diversified independent MRO with the largest pan-India network presence across 27 cities.

Network 18 Media and Investments: Network18 reported a 12 percent year-on-year rise in its consolidated operating revenue for the quarter ended September 2022 driven by its entertainment vertical. Consolidated operating revenue for Q2FY23 was Rs 1,549 crore and that for Q2FY22 was Rs 1,387 crore, according to a statement released by the company. Revenue growth continued to be impeded by macro factors, impacting profitability, the statement said. The network's consolidated operating EBITDA decreased by 87 percent YoY to Rs 32 crore in Q2FY23 from Rs 253 crore in Q2FY22.

Mahindra CIE Automotive: The auto ancillary company has recorded a 3 percent year-on-year growth in consolidated profit at Rs 171.4 crore for the quarter ended September FY23 supported by topline and other income, but dented by higher tax cost. Revenue grew by 30 percent to Rs 2,723 crore compared to the corresponding period last fiscal.