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Published on 22/07/2021 8:42:51 AM | Source: ARETE Securities Ltd

Key News - Bharti Airtel Ltd, Ceat Ltd, Jubilant Foodworks Ltd, Havells India Ltd, Gland Pharma Ltd by ARETE Securities

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Key News

Bharti Airtel-Intel network deal to speed up 5G service roll-out

Bharti Airtel on Wednesday announced a collaboration with Intel Corporation for 5G network development by leveraging virtual and open radio access network (O-RAN) technologies and making indigenous solutions. Airtel and other telecommunications (telecom) operators are conducting 5G trials in select cities across India. “The collaboration is part of Airtel’s 5G road map for India as it transforms its networks to allow its customers to reap the full possibilities of the hyperconnected world, where Industry 4.0 to Cloud gaming and virtual/augmented reality become an everyday experience,” Airtel said in a statement.

 

Tyre major Ceat reports first quarter profit at Rs 23 crore

Tyre major Ceat on Wednesday posted a consolidated net profit of Rs 23 crore for the first quarter ended June 30, 2021. The company had reported a net loss of Rs 35 crore for the year-ago period amid massive COVID-led disruptions in the market. Revenue from operations rose to Rs 1,906 crore in the first quarter as compared with Rs 1,120 crore in the same period of the previous fiscal year, Ceat said in a statement. It has been a challenging quarter with the second wave of COVID-19 restricting demand and rising input costs affecting margins. However, with progressive drop in COVID cases in the last four weeks and a steady increase of vaccination in the latter part of the quarter, we are witnessing a gradual pick-up in demand from early June in the replacement market and OEMs," Ceat Managing Director Anant Goenka said

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Jubilant Foodworks posts Rs 63 cr PAT in Q1 after Rs 72 cr loss a year ago

Quick service restaurants major Jubilant Foodworks reported Rs 62.3 crore net profit for the April-June quarter. The firm had posted Rs 72.6 crore net loss in the corresponding quarter last year. The operator of the country’s largest restaurants chain under the Dominos brand, Jubilant’s operating revenue grew 131 per cent to Rs 879 crore from Rs 380 crore in June 2020 quarter. However, in April-June its business activities remained lower on a quarter-on-quarter basis. While, its operating revenue dipped 16 per cent from Rs 1,025 crore in March quarter, profit after tax plunged 40 per cent from Rs 104.3 crore. Its net profit margin fell to 7.1 per cent from 10.2 per cent in March.

 

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. The company had posted a consolidated net profit of Rs 63.98 crore in the April-June quarter a year ago, Havells said in a regulatory filing. Its revenue from operations was up 75.95 per cent at Rs 2,609.97 crore during the period under review as against Rs 1,483.40 crore in the corresponding period last fiscal.

 

Gland Pharma Q1 consolidated net profit up 12% to Rs 350.7 crore

Drug firm Gland Pharma on Wednesday reported an 11.83 percent increase in its consolidated net profit to Rs 350.7 crore for the quarter ended June 30, 2021, on account of robust sales in all markets. The company had posted a net profit of Rs 313.6 crore for the corresponding period of the previous fiscal, Gland Pharma said in a regulatory filing. Consolidated revenue from operations of the company stood at Rs 1,153.9 crore for the quarter under consideration. It was Rs 884.2 crore for the same period a year ago, it added.

 


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