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Adani Ports Q3 net profit declines 6% to Rs 1,478.76 cr, revenue flat

Adani Ports and Special Economic Zone Limited (APSEZ) on Tuesday reported a 6.20 per cent decline in consolidated profit at Rs 1,478.76 crore for the third quarter ended December 2021. The country's largest integrated logistics player had clocked a consolidated profit of Rs 1,576.53 crore in the corresponding period a year earlier, according to a regulatory filing. Its total consolidated income increased to Rs 4,422.73 crore in the latest December quarter from Rs 4,274.79 crore in the year-ago period. Consolidated revenue from operations was nearly flat at Rs 3,797 crore as against Rs 3,746 crore a year ago. The company's total expenses during the quarter under review rose to Rs 2,738.86 crore compared to Rs 2,258.62 crore in the same period a year ago.

Tech Mahindra Q3 net up 7% at Rs 1,378 cr, revenue rises 19%

IT services exporter Tech Mahindra on Tuesday reported 6.8 per cent rise in December quarter net profit at Rs 1,378.2 crore, with the growth in profits being compressed by supply side challenges. Overall revenue from operations grew 18.7 per cent to Rs 11,450 crore but narrowing of operating profit margin to 14.8 per cent as against the year-ago period's 15.9 per cent restricted the growth in the bottomline.

Indian Hotels reports consolidated net profit of Rs 95.96 cr in Dec qtr

Tata group hospitality firm Indian Hotels Co Ltd (IHCL) on Tuesday reported a consolidated net profit of Rs 95.96 crore for the third quarter ended December 31, 2021. The company had posted a consolidated net loss of Rs 133.22 crore in the same period last fiscal, IHCL said in a regulatory filing. Consolidated revenue from operations in the quarter under review stood at Rs 1,111.22 crore, as against Rs 559.86 crore in the year-ago period, it added.

Mankind Pharma signs agreement to buy Panacea Biotec Pharma's domestic biz

Mankind Pharma entered into an agreement to buy the domestic formulations business of Panacea Biotec Pharma, a subsidiary of Sputnik V maker Panacea Biotec for Rs 1,908 crore. In a notification to the stock exchanges on Tuesday, Panacea Biotec said that its board approved the decision to sell the domestic formulations business including formulations brands in India and Nepal, related trademarks, copyrights etc of its subsidiary Panacea Biotec Pharma to Mankind Pharma for Rs 1908 crore (exclusive of taxes). Panacea Biotec Pharma and Mankind Pharma entered into a binding term sheet on January 31.

Semiconductor shortage: Maruti, Hyundai see decline in wholesales in Jan

Top passenger vehicle makers, Maruti Suzuki, Hyundai, Mahindra & Mahindra, Toyota Kirloskar Motor and Honda, on Tuesday reported decline in vehicle dispatches from factories to dealers in January amid shortage of semiconductors continuing to hamper production. However, Tata Motors and Skoda Auto India posted huge jump in their domestic wholesales during the month. Maruti Suzuki India's domestic sales slipped by 8 per cent to 1,36,442 units last month as against 1,48,307 units in January 2021.

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