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Biotechnology major Biocon Q4 net profit surges 86% to Rs 296.4 crore

Biotechnology major Biocon has reported 86.29 per cent jump in consolidated profit to Rs 296.4 crore for the quarter ended March 31, 2021. The company had reported profit of Rs 159.1 crore in the corresponding period a year ago. Total income of the company rose by 26.13 per cent to Rs 2,044.1 crore as against Rs 1,620.6 crore for the same period year ago, the company said in a regulatory filing. Kiran MazumdarShaw, Executive Chairperson of Biocon, said: "In Q4FY21 our revenues grew 26 per cent year-on-year to Rs 2,044 crore driven by our biosimilars, research services and generics businesses".

Titan net jumps 66% to to Rs 568 crore in March quarter on low base

Titan on Thursday reported a 66 per cent year-on-year increase in consolidated net profit to Rs 568 crore for the quarter ended March 31, 2021 (Q4). Revenue for the quarter rose 59 per cent over the previous year to Rs 7,494 crore, against a forecast of Rs 7,516.8 crore by a poll of Bloomberg analysts. Sales of its key jewellery segment, accounting for 88 per cent of its total revenue, increased 71 per cent year-on-year to Rs 6,678 crore. Operating profit rose 33 per cent year-on-year to Rs 817 crore, while operating margins contracted 210 basis points in Q4 to 10.9 per cent, against 13 per cent a year ago. Analysts attributed this decline to pressure on jewellery division margins.

HUL beats estimates on revenue, profit growth in January-March quarter

Hindustan Unilever (HUL), the country's largest consumer goods company, reported a 41 per cent year-on-year (YoY) jump in net profit to Rs 2,143 crore for the quarter ended March 31, 2021 (Q4), aided by a low base and an all-round recovery across segments. Bloomberg consensus estimates had pegged Q4 net profit at Rs 1,967.9 crore. A year ago, HUL’s net profit stood at Rs 1,519 crore. Sequentially, HUL reported a 11.6 per cent growth in net profit, though revenue wasn’t able to hold up that well, growing 2.3 per cent only versus the December quarter. Revenue includes net sales plus other operating income.

Rahul Bajaj steps down as Bajaj Auto chairman; Niraj Bajaj to take charge

It’s the end of an era at Bajaj Auto. Effective May 1, Rahul Bajaj, Bajaj Group patriarch who has been at the helm of the company for over five decades, will move to the role of chairman emeritus, making way for his younger sibling Niraj Bajaj. This follows his resignation from the holding company Bajaj Holdings & Investments and listed companies that include Bajaj Auto and Bajaj Finserv, on January 30, 2020. He had been wholetime director and chairman of the automobile-making arm since April 1, 1970.

Ambuja Cements consolidated Q4 PAT at Rs 947 cr, up 71% YoY on higher sales

Ambuja Cements reported a consolidated net profit of Rs 947 crore in the March quarter, up 71 per cent from same period last year, on the back of higher sales even as tax expenses rose considerably. Net sales of the company stood at Rs 7,715 crore in the period under review, up 23 per cent from same period last year as special product volumes grew lending support to the topline. The consolidated earnings before interest, taxes, depreciation and ammortisation (EBITDA) margin in the March quarter stood at 24.1 percent as against 19.4 percent in the same period last year, said the company release. Tax expense of the company in the period under review stood at Rs 413.34 crore as against Rs 264 crore in the corresponding period last year.

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