In News

In News

Tech Mahindra: The IT services company has recorded a 13 percent sequential increase in consolidated profit at Rs 1,299 crore for the quarter ended September FY23. Consolidated revenue increased by 3.3 percent QoQ to Rs 13,129 crore for the quarter. Revenue in dollar terms grew by 0.3 percent QoQ to $1,638 million and it clocked 2.9 percent growth in revenue in constant currency terms. The company has declared a special dividend of Rs 18 per share.

Adani Ports and Special Economic Zone: The company's consolidated profit increased by 65.5 percent YoY to Rs 1,738 crore for the quarter ended September FY23, supported by top line, operating income and lower tax cost. Revenue surged 33 percent YoY to Rs 5,211 crore for the quarter. Cargo for the quarter stood at 86.6 MMT, a 15 percent YoY growth.

LIC Housing Finance: The housing finance company clocked a 23 percent YoY growth in standalone profit at Rs 305 crore for the quarter ended September FY23. Revenue from operations for the quarter grew by 8 percent to Rs 5,085 crore compared to the year-ago period.

Voltas: The company posted a consolidated loss of Rs 6 crore for the quarter ended September FY23, against a profit of Rs 104 crore for the same period last year, impacted by the provision made on an overseas project. Total income for the quarter at Rs 1,833 crore rose by 5.5 percent compared to the year-ago period.

Kansai Nerolac Paints: The company has recorded a 27 percent year-on-year increase in consolidated profit at Rs 111.2 crore for the quarter ended September FY23, supported by higher operating income. Revenue from operations grew by 19 percent YoY to Rs 1,931 crore for the quarter. The quarter witnessed good demand in automotive paints with the easing of the supply chain challenges, but demand in decorative paints was subdued due to extended rains.

Karnataka Bank: The bank recorded a massive 228 percent year-on-year growth in standalone profit at Rs 412 crore for the quarter ended September FY23 as there was a write-back of provisions and contingencies of Rs 14 crore in Q2FY23. Net interest income grew by 26 percent YoY to Rs 803 crore for the quarter.

Hero MotoCorp: The company sold 4.54 lakh motorcycles and scooters in October 2022, a 17 percent decline compared to 5.47 lakh units sold in the year-ago month. In the current financial year, it sold 32.72 lakh units, higher by 8.7 percent compared to 30.11 lakh units sold in the same period last year.

Veranda Learning Solutions: The company has terminated the acquisition of T.I.M.E. It had entered into a share purchase agreement (SPA) for the acquisition of 100 percent shareholding of Hyderabad-based firm T.I.M.E (Advanced Educational Activities Pvt Ltd) in April 2022. The transactions could not be consummated by the long stop date. Accordingly, the SPA has now been terminated by the parties.

Eicher Motors: The company sold 82,235 units of Royal Enfield in October 2022, up by 86 percent compared to 44,133 units sold in the same month last year. International business sold 5,707 units of Royal Enfield in October this year, up 62 percent YoY.