Page 11 - Indian Companies

Tata Communications Q1 consolidated net profit grows 15% to Rs 296 crore

Tata Communications on Wednesday posted about 15 per cent jump in consolidated profit at Rs 296.11 crore in the quarter ended June 2021.

Tata Steel BSL posts Rs 2,478-crore consolidated net profit for June qtr

Tata Steel BSL Ltd on Wednesday returned to the black, posting a consolidated net profit of Rs 2,478 crore in the quarter ended June 30.

Indian business: From safari suits to pin striped jackets after 1991

If India is now considered having the potential to be a leading economy, the 1991 reforms made it possible.

Cos spending on Covid jabs for individuals to be considered CSR activity

Companies spending funds on COVID vaccination for individuals other than employees and their families will be considered as a CSR expenditure. The corporate affairs ministry, which is implementing the Companies Act, 2013, has issued a clarification in this regard. In March 2020, the ministry had said that spending on COVID-19 would be considered as a Corporate Social Responsibility (CSR) activity. "... it is further clarified that spending of CSR funds for COVID-19 vaccination for persons other than the employees and their families, is an eligible CSR activity," the ministry said in a circular on July 30. The activity is eligible to be considered as a CSR work under Section VII of the Act relating to promotion of healthcare, including preventive healthcare and pertaining to disaster management. "The companies may undertake the aforesaid activity subject to fulfillment of Companies (CSR Policy) Rules, 2014 and the circulars related to CSR issued by this ministry from time to time,"

Dalmia Bharat Sugar Q1 consolidated net profit dips to Rs 124 crore

Dalmia Bharat Sugar and Industries Ltd on Friday reported a marginal decline in consolidated net profit at Rs 124.34 crore for the quarter ended June.

Leadership by example critical for building culture of ethics: Murthy

Leading by example and creating "messengers" at lower levels who can share values and ethics are critical instruments for building a "culture of ethics", Infosys co-founder N R Narayana Murthy said.

Indus Towers posts consolidated profit after tax of Rs 1,415 crore in Q1

Telecom infrastructure firm Indus Towers on Thursday posted a consolidated profit after tax of Rs 1,415 crore in the first quarter ended June 30, 2021. Indus Towers had recorded profit after tax of Rs 1,121 crore in the same quarter a year ago. "The first quarter of financial year 2022 witnessed the second wave of COVID-19 pandemic impacting lives and livelihoods across the country on one hand and severe cyclones in many states on the other. Indus Towers continues to stand tall against all odds to ensure support for customers, society and nation. The company has also delivered a strong financial performance for the quarter," Indus Towers Managing Director and CEO Bimal Dayal said. The financial performance, however, is not comparable because the scheme of amalgamation and arrangement between Bharti Infratel and erstwhile Indus Towers Limited (a joint venture company) became effective on November 19, 2020. Indus Towers posted a consolidated revenue of Rs 6,797 crore in the April-Jun

Welspun Enterprises Q1 consolidated net profit rises 28% to Rs 25.66 cr

Welspun Enterprises Ltd on Thursday said its consolidated net profit rose 28.36 per cent to Rs 25.66 crore in the first quarter ended June 30.

Data breaches cost Indian companies Rs 165 mn, rising 18% from 2020: Report

Breaches worldwide cost companies $4.24 million per incident on average, says an IBM study.

Mahindra Logistics June-quarter consolidated net profit at Rs 9 crore

Mahindra Logistics Ltd on Tuesday reported a consolidated net profit of Rs 9.35 crore for the quarter ended June 30, 2021. The company had posted a consolidated net loss after taxes, non-controlling interests and share of loss of joint venture of Rs 15.81 crore in the year-ago period, Mahindra Logistics Ltd (MLL) said in a filing to BSE. The consolidated total income of the company during April-June quarter increased to Rs 875.28 crore over Rs 413.27 crore in the year-ago period. "We delivered a strong performance despite the challenging external environment due to the rapid spread of Wave 2 of the Covid 19 pandemic. The regional lockdowns, high commodity costs and fuel prices impacted demand across the end markets. "Our strong focus on customer retention, new account acquisition and cost reduction helped us offset these challenges," Rampraveen Swaminathan, managing director and CEO of Mahindra Logistics, said. Implementation of strategic initiatives continued through the quarter

Beyond corporate deleveraging

India's growth drivers are under pressure

Kirloskar family feud: Brothers' firms spar over 130-year-old legacy

Kirloskar Brothers Ltd accused four firms under his brothers Atul and Rahul of trying to "usurp" its legacy of 130 years and trying to mislead the public, which has been refuted by the other side.

Q1 results: 230 early bird companies report 71% jump in net profit

Good Q1 showing on the back of last year's low base; sales low sequentially

Havells India Q1 net profit jumps about four-folds to Rs 236 crore

Consumer electrical goods maker Havells India Ltd on Wednesday reported nearly four-fold jump in its consolidated net profit at Rs 235.78 crore for the first quarter ended June 2021.

Jubilant Foodworks back in black in Q1, posts net profit of Rs 69 cr

Jubilant Foodworks reported a consolidated net profit of Rs 69.06 crore in the first quarter ended June 30, aided by higher revenues despite the second wave of COVID-19 disrupting operations.

Bajaj Finserv Q1 consolidated net profit declines 31% to Rs 833 cr

Bajaj Finserv Ltd on Wednesday reported an over 31 per cent decline in consolidated net profit at Rs 833 crore for the first quarter ended June 2021.

A future without promoters

India's corporate landscape is changing, and the economy is set to change with it, notes Amit Tandon

Godrej forays into dishwashers; eyes 15% mkt share by end of 2021-22

Godrej & Boyce, the flagship company of the Godrej Group, on Tuesday announced its foray into the dishwashers market and is eyeing 15 per cent market share by the end of this financial year in this segment. The pandemic has upped stress level of consumers significantly. City-based consumers particularly... are juggling their office work with household chores while trying to limit their dependence on domestic help to avoid health risks. This has led to a surge in effort minimising appliances like dishwashers. We believe that this category will continue to see growth even post pandemic as more and more consumers discover the value this product can add to their lives," Godrej Appliances Business Head and Executive Vice President Kamal Nandi told reporters at a virtual press conference. He further stated that the dishwasher segment is at a very nascent stage and the total market size is expected to cross USD 90 million (Rs 667-700 crore) by 2025-26. "We are targeting 15 per cent ...

Over 17,200 new companies set up in India during April-June 2021

More than 17,200 new companies were set up in the country during April to June this year while a total of 13.7 lakh companies were active at the end of June, according to official data.

Barbeque Nation, LIC Housing Finance face heat on independent valuation

While the companies are saying they are following Sebi guidelines, the regulator is asking them to follow their own guidelines.