IGI Logo

Key News

DCB Bank Q3 net down 21.9% YoY to Rs 75 cr as other income falls

Private lender DCB Bank's net profit fell by 21.9 per cent year on year (YoY) at Rs 75 crore for the third quarter ended December 2021 (Q3FY22) on fall in other income.

The net profit was Rs 96 crore in Q3FY21. Sequentially, net profit rose marginally from Rs 65 crore in the second quarter ended September 2021 (Q2FY22). After Covid-19 second wave impact in first quarter FY22, net profit has been improving based on overall business and control over nonperforming assets (NPAs), bank said in statement filed with BSE.

Jindal Steel and Power posts 20% steel sales growth in January 2022

Jindal Steel and Power on Wednesday reported "meaningful recovery" in steel sales, despite low railway rake availability and stressed that sales volume registered a year-on-year growth of 20 per cent to 6.95 lakh tonnes in January this year.

Inventories continued to decline for the second consecutive month with the company posting steel production of 6.82 lakh tonnes. Sales volume increased 20 per cent year-on-year to 6.95 lakh tonnes, as compared to 5.81 lakh tonnes in January 21, the company said in a statement.

Bosch net profit rises 27.5% to Rs 234.79 crore in December quarter

Auto components major Bosch Ltd on Wednesday reported a 27.5 per cent rise in consolidated net profit to Rs 234.79 crore for the third quarter ended December 31.

The company, which had posted a consolidated net profit of Rs 184.15 crore in the same period last fiscal, said it will be investing Rs 2,000 crore in the next five years for localisation of advanced automotive technologies and expanding digital platforms like mobility marketplace and mobility cloud platform. The consolidated revenue from operations during the quarter under review stood at Rs 3,109.08 crore, against Rs 3,029.64 crore in the year-ago period, Bosch Ltd said in a regulatory filing.

Bharti Airtel profit drops 2.8% to Rs 830 crore in Q3; revenue up 12.6%

Telecom major Bharti Airtel’s net profit dipped 2.8 per cent year on year to Rs 830 crore in the October-December quarter (Q3) of 2021-22. In the same period last year, the company had posted a net profit of Rs 854 crore. Its operational performance was better than Street estimates, but the net profit fell short of expectations, mainly because of higher tax outgo.

The company’s revenue for the quarter grew 12.6 per cent to Rs 29,867 crore on a year-on-year (YoY) basis. The average revenue per user (Arpu) rose 6.5 per cent sequentially and 11.6 per cent YoY to Rs 163 due to an increase in mobile tariffs in late November. The full impact of the hike will be visible in the fourth quarter, the company said.

GAIL advances US gas supplies, eyes new deals to meet India's energ

GAIL (India) Ltd has pre-poned the supply of gas from the US and is looking to contract more LNG next year as it doubles down efforts to secure affordable energy supplies to meet the needs of Asia's third-largest economy, chairman Manoj Jain said.

India's No.1 gas transporting and marketing firm has long-term liquefied natural gas (LNG) supply contracts from the US to Australia and with Russia, supplementing domestic gas supplies.

To Read Complete Report & Disclaimer Click Here

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