Key News - AGS Transact Technologies Ltd , Tata Elxsi Ltd , TV18 Ltd, L&T Technology Services Ltd , ICICI Prudential Life Insurance Ltd By ARETE Securities
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Key News
AGS Transact Tech mobilises Rs 204 cr from anchor investors ahead of IPO
Payment solutions provider AGS Transact Technologies on Tuesday raised Rs 204 crore from anchor investors ahead of its initial share-sale that opens for public subscription on Wednesday.
The company has allotted over 1.16 crore equity shares to anchor investors at Rs 175 apiece, aggregating the transaction size to Rs 204 crore, according to a circular uploaded on BSE website. Ashoka India Equity Investment Trust Plc, Kuber India Fund, Saint Capital Fund, IIFL Special Opportunities Fund, Abakkus Growth Fund, HDFC Mutual Fund (MF), Nippon India MF and Quant MF are among the anchor investors.
Tata Elxsi Q3 profit up 44% at Rs 151 crore in December quarter
Tata Elxsi on Tuesday said its net profit increased 43.5 per cent to Rs 151 crore in December quarter 2021-22. The company is among the world's leading design and technology services providers across industries, including Automotive, Broadcast, Communications, Healthcare, and Transportation.
It had registered a net profit of Rs 105.2 crore in the year-ago period, Tata Elxsi said in a regulatory filing. Revenue from operations rose 33.2 per cent to Rs 635.4 crore in the quarter from Rs 477.1 crore in the year-ago period, it added.
TV18 Broadcast's net profit falls 17.4% to Rs 311.5 crore in Dec quarter
Media firm TV18 Broadcast Ltd on Tuesday reported a 17.4 per cent drop in its consolidated net profit to Rs 311.55 crore for the third quarter ended December 2021.
The company had posted a net profit of Rs 377.20 crore for the OctoberDecember period of the previous fiscal, TV18 Broadcast said in a regulatory filing. However, its consolidated revenue from operations during OctoberDecember 2021 jumped 15.15 per cent to Rs 1,567.08 crore, against Rs 1,360.95 crore in the year-ago period.
L&T Technology Services Q3 net profit up 33.7% YoY to Rs 249 cr
L&T Technology Services reported net profit of Rs 248.8 crore up 33.7 per cent year-on-year and grew 8.17 per cent on sequential basis.
The company reported revenue growth of 20 per cent year-on-year at Rs 1,687 crore and was up almost 5 per cent on quarter-on-quarter basis. During the quarter, LTTS won a $45 million deal and a total of three deals with TCV of $10 million plus. Revenues from digital and leading-edge technologies stood at 56 per cent during the quarter.
ICICI Prudential Life Q3 net profit rises marginally to Rs 311 cr
ICICI Prudential Life Insurance on Tuesday reported a marginal two per cent year-on-year growth in its net profit to Rs 311 crore for the December 2021 quarter, on higher sales of policies. The company reported net profit of Rs 306 crore in year-ago period.
The company has reported a 20 per cent growth in the value of the new business to Rs 515 crore, while margins rose to 26.7 per cent in the quarter. It helped the firm maintain profitability despite lower income from investments, which came in at Rs 734 crore, much lower than the year-ago period when it had booked Rs 19,491 crore in net gains as the markets were on a song
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