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Tata Steel Q1 consolidated PAT at Rs 8,907 cr vs loss of Rs 4,416 cr YoY

Tata Steel, the country’s oldest steel producer, reported a consolidated net profit of Rs 8,907 crore in June quarter as against a loss of Rs 4,416 crore in the corresponding period last year on the back of increased revenue in Q1’FY22 and low base on account of Covid-19’s first wave last year. Led by strong steel prices, top line or total revenue from operations in the period under review stood at Rs 53,372 crore, up 108 per cent from the same period last year, as both India and Europe operations contributed sizeably.

Gulf Oil Lubricants Q1 profit after tax rises 77% to Rs 30.35 crore

Lubes maker Gulf Oil Lubricants on Thursday reported a 77 per cent growth in profit after tax (PAT) at Rs 30.35 crore for the quarter ended June. The Hinduja Group company had posted a PAT of Rs 17.7 crore in Q1 FY21, according to a statement. Net revenue grew 73 per cent to Rs 417.37 crore as compared to Rs 241 crore in the same quarter last fiscal.

Bata expects 30% stores to be run on franchise model in about 4 years

Leading shoemaker Bata India Ltd is working on portfolio changes towards casuals and sneakers as part of its business growth plans and channel expansion through franchise, its CEO Gunjan Shah said. Consumer behaviours are changing after the pandemic and the market is moving towards casualisation, online purchase and value buy, he said. There is a drop in discretionary spending and customers are more price-conscious and deal-seeking, he said in a presentation while addressing a virtual media round.

JB Chemicals & Pharmaceuticals posts Rs 119 crore profit April-June

Drug firm JB Chemicals & Pharmaceuticals on Thursday reported a consolidated net profit of Rs 119.05 crore for the quarter ended on June 30, 2021. The company had posted a net profit of Rs 119.50 crore for the corresponding period of the previous fiscal, JB Chemicals & Pharmaceuticals said in a filing to BSE. Consolidated revenue from operations of the company stood at Rs 606 crore for the quarter under consideration. It was Rs 522.3 crore for the same period a year ago

Coal India to pump in Rs 14,000 crore in first-mile connectivity projects

Coal India will be infusing Rs 14,000 crore till FY25 in first-mile connectivity infrastructure in two phases, officials said on Thursday. CIL said it has taken steps to upgrade the mechanised coal transportation and loading system under 'First Mile Connectivity' projects. In phase-I, 35 projects had been tendered out of which four projects of 30 MTPA have been commissioned. Total capacity involved in this is 414.5 MTPA.

Schneider Electric Infra loss narrows to Rs 16 crore in April-June

Schneider Electric Infrastructure on Thursday said its net loss narrowed to Rs 16 crore during the quarter ended June 30, 2021. During the April-June period of financial year (FY) 2020-21, the company had suffered a loss of Rs 29 crore, it said in a regulatory filing. Its total income was at Rs 289.5 crore as against Rs 209.6 crore in the year ago quarter. The expenses during the quarter under review were at Rs 305.6 crore

AGR dues: Voda Idea cites previous SC orders, urges it to re-hear petition

Vodafone Idea (Vi) has cited earlier Supreme Court (SC) judgments in its petition, urging the apex court to set aside its order of July 23 and re-hear the company's plea for rectification of error in the adjusted gross revenue (AGR). Vi urged the SC to allow the Department of Telecommunications (DoT) to recalculate the AGR dues.

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