Page 13 - Companies

Aavishkaar Capital, KfW launch $250 million ESG First Fund

The fund will focus on strengthening the Environmental, Social and Governance (ESG) practices of mid-cap businesses

Uttam Galva Steels net loss soars to Rs 59 crore in December quarter

Uttam Galva Steels Limited posted a consolidated net loss of Rs 59.64 crore during the third quarter ended on December 31, 2021.

Cosmo Films Q3 net profit rises 66% to Rs 104.4 crore; revenue up 35%

In a separate filing, Cosmo Films said its board on Tuesday declared a second interim dividend of 100 per cent, or Rs 10 per equity share

RPG Life Sciences net profit rises 14% at Rs 15 crore in third quarter

RPG Life Sciences said its net profit increased 14 per cent to Rs 14.63 crore for the third quarter ended December 31, 2021.

Raymond Q3 net profit at Rs 101.07 crore, income rises 48.25%

Raymond Ltd on Tuesday reported a multifold jump in its net profit to Rs 101.07 crore for the third quarter ended in December 2021. The company had posted a net profit of Rs 22.18 crore during the October-December of the previous fiscal, Raymond said in a regulatory filing. Its revenue from operations was up 48.25 per cent to Rs 1,843.39 crore during the quarter under review as against Rs 1,243.44 crore in the corresponding period of the previous fiscal. According to the company, it has reported "highest profitable quarter in last 10 years" and its revenue is now "100 per cent of pre-Covid levels". Commenting on the result, Raymond Chairman & Managing Director Gautam Hari Singhania said: "With our focused approach on capitalizing on the growing demand for our products and continued cost optimization, we delivered record profitability. We generated free cash flows to reduce debt and are progressing towards being a net debt free business." Raymond's total expenses were at Rs ...

American Express profits jump 20% on card spending in fourth quarter

The jump in AmEx's earnings came entirely from record cardmember spending in the last three months of the year

Sterlite Technologies bags around Rs 170 crore deal from Power Grid

The company said it has already been supplying optical fibre cables and has developed a communication network for Power Grid Corporation of India Ltd

FDI policy: 'Bringing clarity to press-note 3 is a step in right direction'

Press-note 3 requires that all investments from entities will have to be made under the 'approval route' and will require security clearance

Pernod Ricard plans to set up its own branded retail outlets in India

World's second largest wine and spirits firm banks on a direct-to-consumer strategy rather than intermediaries

AGI glaspac opens Rs 400 crore manufacturing unit in Telangana

AGI glaspac, which is among the largest container glass bottle manufacturers, has commissioned its specialty glass manufacturing unit at Bhongir in Telangana at an investment of Rs 400 crore

Deepak Nitrite Q3 consolidated net profit up 12% at Rs 242.46 crore

The company posted a net profit of Rs 242.46 crore for the quarter against Rs 216.56 crore in the year-ago quarter

Supreme Industries Q3 net profit down 21.3% to Rs 245.72 crore

The company had posted a net profit of Rs 312.28 crore during the October-December quarter of the previous fiscal

Zensar Technologies posts 8% dip in net at Rs 91 crore in December quarter

Zensar Technologies said its net profit declined 7.8 per cent to Rs 91 crore for the December 2021 quarter.

Demand risks likely to keep Havells India stock under pressure

The company also faces margin headwinds due to rise in raw material costs

Party-hard Dubai ponders new workweek debate: When's brunch?

Most of the nation's expatriate-dominated private sector, however, works the full day

Komaki Electric Vehicles launches motorcycle and scooter models

Komaki Electric Vehicles announced the launch of its first battery-powered cruiser motorcycle Ranger and e-scooter Venice in the domestic market

Traders' body CAIT moves CCI against Amazon deal with More Retail

Traders' body CAIT on Monday filed a complaint with the Competition Commission of India against Amazon accusing the e-commerce major of committing a fraud while seeking approval for the takeover of More Retail's stores in India. The Confederation of All India Traders (CAIT) claimed that in case of acquiring More Retail, Amazon committed the same fraud, misrepresentation of facts, misleading the CCI in the matter too as was done in takeover of Future Retail. "It amply exposes the sinister designs of Amazon to control Indian retail companies in a fraudulent manner to capture the physical retail trade and inventory-based e-commerce in India causing enormous harm to the traders," the traders' body alleged. CAIT said that Amazon has taken over More Retail through Samara Alternate Investment Fund (Samara AIF) that owns 51 per cent equity in Witzig Advisory LLP that in-turns owns More Retail Limited. It further stated that Amazon has obtained approval from CCI for the takeover of More Ret

Amazon's offer legally invalid, can't accept: FRL independent directors

Independent directors of Future Retail have turned down Amazon's offer of financial support to the company through a deal with private equity firm Samara Capital

Two-wheeler maker Hero MotoCorp to invest up to Rs 700 cr in Hero FinCorp

The country's largest two-wheeler maker Hero MotoCorp on Monday said its board has approved to invest up to Rs 700 crore in Hero FinCorp Ltd (HFCL).

B2B e-commerce firm Indiamart Intermesh posts 12% decline in Q3 net profit

B2B e-commerce firm Indiamart Intermesh on Monday posted a 12.4 per cent decline in consolidated net profit to Rs 70.2 crore in the December 2021 quarter. The company had registered a net profit of Rs 80.2 crore in the corresponding period of the last fiscal. Its revenue grew 8.3 per cent to Rs 188.1 crore in the third quarter of FY22 from Rs 173.6 crore in the year-ago period, a regulatory filing said. Indiamart registered a traffic of 259 million and unique business enquiries of 23 million during the third quarter of FY22. Supplier storefronts grew to 7 million, an increase of 10 per cent year-on-year and with a net addition of 5,833 subscribers during the said quarter, paying subscription suppliers grew to 1.56 lakh. "We are pleased to report a good financial performance in this quarter with growth in customers and deferred revenue with healthy margins and cash flows. Growing internet adoption strengthens our value proposition of helping businesses transform themselves to do ...