IGI Logo

Key News

GAIL Q3 profit slumps 92.5% YoY to ?246 cr on supply hit; revenue dips sequentially:

GAIL (India) recorded a decline in profitability during December 2022 quarter on both a year-on-year and quarteron-quarter basis due to supply hit. Although, revenue was better compared to Q3 of the previous fiscal, however, down sequentially. GAIL posted a standalone net profit of ?2245.73 crore in Q3FY23. On a standalone basis, the company's Q3 PAT dipped by 92.52% from ?3,287.99 crore in the same quarter a year ago. While PAT dropped by 84.01% from ?1,537.07 crore in the September 2022 quarter

Bajaj Finserv posts 42% YoY growth in Q3 PAT to ?1,782 cr:

Bajaj Finserv posted a 42% growth in consolidated net profit to ?1,782 crore for the third quarter of FY23 compared to a profit of ?1,256 crore in the same quarter a year ago. Consolidated total income came in at ?21,755 crore up by 23% from ?17,620 crore in Q3 of the previous fiscal. Bajaj Finserv recorded healthy growth across its companies despite higher interest rates scenario in Q3FY23.

Laurus Labs posts 32% profit jump on demand for drug ingredients:

Laurus Labs on Monday reported 32% year-on-year (YoY) rise in profit after tax to Rs 203 crore for the quarter ended December 31, 2022. The company had reported a net profit of Rs 155 crore in the same quarter, previous fiscal year. The company's consolidated revenue from operations for Q3FY23 came in at about Rs 1,544.82 crore, up 50.16% YoY, whereas total expenses stood at Rs 1,268.4 crore, recording an increase of 52.7% YoY. The company also spent Rs 153 crore on R&D in 9M FY23. Company’s EBITDA improved to Rs 404 crore in Q3FY23, recording 39% YoY growth. The EBITDA margin stood at 26.1% in the quarter. Its EPS for the period stood at Rs 3.7 per share.

LIC claims its equity exposure in Adani Group at 0.97% of total AUM:

Life Insurance Corporation (LIC) said on Monday that its total exposure in Adani Group companies is less than 1 per cent of its total assets under management (AUM) at book value. It said in a press release that the total value of Adani group company shares it has purchased over the last many years is Rs 30,127 crore. This amounts to a market value of Rs 56,142 crore, based on the closing price on January 27. The clarification came as Adani Group firms have been battered owing to a scathing report on the conglomerate by US short-seller Hindenburg Research.

Abu Dhabi's IHC to invest $400 million in Adani Enterprises' FPO

Abu Dhabi's International Holding Company (IHC) on January 30 said it will invest $400 million in Adani Enterprises' ongoing Rs 20,000- crore follow-on public offer (FPO) via its subsidiary Green Transmission Investment Holding RSC Limited

To Read Complete Report & Disclaimer Click Here

Please refer disclaimer at http://www.aretesecurities.com/
SEBI Regn. No.: INM000012740

Above views are of the author and not of the website kindly read disclaimer