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Happiest Minds Tech' Q4 consolidated net profit zooms to Rs 36 cr

IT firm Happiest Minds Technologies Ltd has reported a manifold growth in consolidated net profit at Rs 36.05 crore in the March 2021 quarter. The company, which got listed on BSE and NSE last year, had posted a net profit of Rs 5.30 crore in the year-ago period. Its revenue was at Rs 220.71 crore in the quarter under review, up 18.4 per cent from Rs 186.35 crore in the year-ago period, a regulatory filing said. On a quarter-on-quarter basis the net profit fell 14.5 per cent, from Rs 42.15 crore in the December 2020 quarter. Its revenue grew 14.5 per cent from Rs 192.84 crore in the third quarter of FY'21.

ONGC agrees to remove marketing margin, but refuses to lower gas price

State-owned Oil and Natural Gas Corporation (ONGC) has agreed to do away with charging users a marketing margin on the gas it plans to produce from its KG basin field but refused to lower the minimum rate, according to tender documents. ONGC, India's top oil and gas producer, last month sought bids for sale of initial 2 million standard cubic meters per day of gas from its KG-DWN-98/2 block (KG-D5). The company asked bidders to quote a rate linked to prevailing Brent crude oil prices. It fixed the floor or minimum rate at 10.5 per cent of the three-month average Brent crude oil price. On top of it, the firm sought USD 0.20 per million British thermal unit.

Lupin Q4 net profit up 18% at Rs 460 cr; FY21 profit at Rs 1,216 cr

Drug maker Lupin on Thursday reported an 18 per cent increase in its consolidated net profit at Rs 460 crore for the fourth quarter ended March 31, 2021, driven by robust sales across domestic and international markets. The Mumbai-based company had reported a net profit of Rs 390 crore in the January-March quarter of 2019-20. The company's total income from operations however declined to Rs 3,783 crore during the fourth quarter, as compared to Rs 3,846 crore in the corresponding period of FY20, Lupin Ltd said in a statement.

Asian Paints Q4 consolidated net profit up 81% to Rs 870 crore on low base

Asian Paints on Wednesday reported an 81.1 per cent YoY growth in consolidated net profit to Rs 870 crore in Q4, led by a low base. The company’s revenue from operations in Q4 was up 43.5 per cent to Rs 6,651.4 crore from a year ago. Volume growth for the quarter stood at 48 per cent, led by the premium and luxury segments. Earnings before interest, tax, depreciation and amortisation (Ebitda) grew by 53 per cent YoY to Rs 1,318 crore, while Ebitda margins improved by 127 basis points to 19.8 per cent.

Birla Corporation net profit up 28% in Jan-Mar quarter due to high sales

Wednesday reported a 28 per cent year-on-year rise in its net profit to Rs 249.33 crore in the fourth quarter ended March 31, 2021, on account of higher capacity utilisation and sales. The MP Birla Group flagship company had posted a net profit of Rs 194.73 crore in the year-ago period. The board of the company also approved the issuance of secured redeemable non-convertible debentures aggregating up to Rs 200 crore on a private placement basis in one or more trenches. The cement maker said sales volume jumped by 24.5 per cent to 4.17 million tonnes during the March quarter and the revenue was at Rs 2,146.12 crore, up by 24.9 per cent over the same period of the previous year. It achieved capacity utilisation of 108 per cent

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