Page 11 - Companies

LIC Housing Finance net profit rises 6% to Rs 767 crore in third quarter

LIC Housing Finance's (LIC HFC) net profit rose 6 per cent year-on-year (YoY) to Rs 767.33 crore in the third quarter.

Indus Towers consolidated profit up 16% at Rs 1,571 crore in Q3

Telecom infrastructure company Indus Towers on Thursday posted about 16 per cent rise in consolidated profit at Rs 1,570.8 crore for December quarter 2021-22. The company had registered a profit after tax of Rs 1,360 crore for the same period a year ago. Revenue of the country's largest mobile tower firm was higher at Rs 6,927 crore during the quarter compared to Rs 6,736 crore in the corresponding period of 2020-21. "At Indus Towers, the quarter marked completion of a year of operations of the merged entity which has made our industry leadership positioning more robust. "Our steady operational and financial performance during the quarter was reassuring. We believe that our focus to promote passive infrastructure sharing and capitalize on adjacencies will help us further strengthen our commitment of Putting India First through connecting lives," MD and CEO Bimal Dayal said. Indus Tower merged with Bharti Infratel in November 2020. The company's total mobile tower base increased t

Fintech company Kissht raises Rs 100 cr from Trifecta Capital, Northern Arc

Fintech company Kissht on Thursday said it has raised Rs 100 crore in a funding round led by Trifecta Capital and Northern Arc. In the current round, Trifecta and Nothern Arc have each subscribed to Rs 50 crore of non-convertible debentures (NCDs), according to a statement. The company has so far raised over Rs 270 crore in equity and over Rs 1,200 crore in debt investments. The company said the funds will be utilised to expand its scale of operations. It will also further enhance its product offerings, including credit cards for small businesses/ shops and improve underwriting capabilities to extend credit to the new to credit (NTC) segment using AI and machine learning. The firm plans to expand its business to one crore borrowers in FY2023, the statement said. It is projecting an overall revenue of over Rs 500 crore, it said. The company provides an instant line of credit for small business transactions and small-ticket size personal loans to new credit customers.

Home First Finance reports multifold jump in profit to Rs 46 cr in Dec qtr

The Company had posted a net profit of Rs 16 crore during the year-ago quarter of December 2020

LIC Housing Finance net profit rises 6% to Rs 767.33 crore in Dec quarter

Mortgage lender LIC Housing Finance reported a 6 per cent increase in profit after tax at Rs 767.33 crore for the quarter ended December 2021

Dalmia Bharat Q3 profit declines 59.2% to Rs 73 cr; revenue at Rs 2,731 cr

Cement maker Dalmia Bharat Ltd reported a 59.2 per cent decline in its consolidated net profit to Rs 73 crore for the third quarter ended December 2021.

BHEL posts consolidated net profit of Rs 27 crore for December quarter

State-owned engineering firm BHEL posted a consolidated net profit of Rs 27.02 crore for December quarter 2021-22, mainly on the back of higher revenues.

Pharmaceuticals firm Laurus Labs Q3 net drops 43% to Rs 155 crore

Pharmaceuticals firm Laurus Labs said its consolidated net profit declined by 43 per cent to Rs 154.97 crore for the third quarter ended December 31, 2021.

Mahindra Logistics' profit after tax declines 72% to Rs 5 cr in Dec quarter

Mahindra Logistics Ltd (MLL) reported a sharp 72 per cent year-on-year decline in profit after tax (PAT) to Rs 5 crore for the December 2021 quarter. The company had posted a PAT of Rs 18 crore in the same quarter a year ago, MLL said in a statement. The revenue, however, grew seven per cent to Rs 1,118 crore during October-December 2021 as compared with Rs 1,047 crore in the year-ago period, it said. Revenue from warehousing services and solutions in the quarter grew 35 per cent in the same period last year underlining the focus on the solutions-led approach to customer's requirements, MLL said. The company added that growth in the supply chain segment during the quarter stood at six per cent y-o-y, contributed by increased business volumes across all key end markets except auto. Mahindra Logistics Managing Director and CEO Rampraveen Swaminathan said, "The quarter gone by was a challenging one. Demand from the auto sector continued to be impacted due to semi-conductor supplies a

TD Power Systems net profit dips 7% to Rs 19 crore in Dec quarter

TD Power Systems reported a seven per cent dip in consolidated net profit at Rs 19.53 crore for December quarter 2021-22

Samsung Electronics reports robust profit based on chip strength

Samsung Electronics Co. said its operating profit for the last quarter rose by more than 53% from the same period last year as it continued to thrive during the pandemic

Birlasoft's net profit jumps 18.2% to Rs 114 crore in December quarter

The IT services company had posted a profit of Rs 96.4 crore in the October-December 2020 period

Indian Metals & Ferro Alloys' net profit soars to Rs 122 crore in Q3

Indian Metals & Ferro Alloys (IMFA) on Thursday posted nearly four-fold jump in consolidated profit after tax (PAT) at Rs 122.24 crore for December quarter 2021-22, mainly on account of higher income. The company had logged Rs 32.53 crore PAT during October-December period of 2020-21, IMFA said in a regulatory filing. During the quarter under review, its total income rose to Rs 658.21 crore from Rs 430.10 crore a year ago. Total expenses were at Rs 483.63 crore as against Rs 395.29 crore in the year-ago quarter. In a separate statement, the company said it produced 61,545 tonne of ferrochrome (FeCr) and sold 55,403 tonne of the alloy during December quarter. The company said it has also made a prepayment of Rs 214 crore towards a long-term debt. IMFA MD Subhrakant Panda said: Our record performance in the ongoing fiscal has enabled us to prepay long-term debt thereby strengthening balance sheet ahead of our proposed 100,000 tonne per annum ferro chrome expansion." Headquartered

LIC to list on bourses by March 31, says DIPAM Secretary

'LIC disinvestment amount will be included in this year's (Budget) because we aim to list it before March 31,' says Tuhin Kanta Pandey

MapmyIndia consolidated PAT declines 14% to Rs 18 crore in Q3

The company had registered a consolidated PAT of Rs 21.59 crore in the same period a year ago

Coforge Q3 consolidated net profit jumps over 50% to Rs 184 crore

The company had posted a net profit of Rs 122 crore in the year-ago period

Japan's Mitsubishi, energy body join Gates' nuclear project

The memorandum of understanding signed Wednesday calls for cooperation in developing advanced nuclear technologies

EvGateway to offer simple EV-charging solutions to drivers across India

The company would help advance EV adoption with easy-to-use solutions for drivers and charger-owners

Hindustan Media Ventures Q3 net profit down 12% to Rs 31 crore

The company had posted a net profit of Rs 35.19 crore for October-December period a year ago

TCI reports 94% jump in standalone PAT to Rs 78 crore in Dec quarter

The company had posted a standalone PAT of Rs 40 crore in the corresponding quarter of the last financial year