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Jindal Stainless reports Rs 271-cr profit for Q1; announces expansion plan

Jindal Stainless Ltd (JSL) returned to black in the April-June quarter, posting a net profit of Rs 271.42 crore on the back of a significant rise in income. The stainless steel maker also announced a Rs 2,150 crore investment plan to double the capacity of its Jajpur unit to 2.10 MTPA, to cater to the future growth in domestic as well as international markets. During the year-ago quarter, the company had posted a loss of Rs 86.50 crore. Its total income in the quarter under review rose to Rs 3,850.89 crore from Rs 1,271.25 crore in the year-ago period. The company's expenses were at Rs 3,433.27 crore in April-June 2021 as against Rs 1,410.04 crore a year ago.

Tata Motors posts Rs 4,450 cr loss in June qtr as chip shortage takes toll

Tata Motors' consolidated net losses for the June quarter narrowed yearon-year as well as quarter-on- quarter but lagged Street estimates, as a severe chip shortage dented volumes and singed earnings. Higher product development charges and an exceptional tax change with net tax incidence at Rs 1,742 crore for the quarter also weighed on the results, taking investors by surprise. The owner of Jaguar Land Rover Automotive Plc saw the net loss for the quarter come down to Rs 4,450.92 crore from Rs 8,443.98 crore a year ago, the company said in a regulatory filing. This is the second straight quarter of losses for the company. A Bloomberg poll of 11 brokerages had pegged the net loss at Rs 2,098.80 crore. Net sales during the quarter rose 107.6 per cent year-on-year to Rs 66,406.05 crore but was down 25.1 per cent quarter-on-quarter.

Alembic Pharma posts 45% dip in Q1 net at Rs 165 cr amid price erosion

Price erosion amid increased competition in the US market dragged down Alembic Pharmaceuticals Ltd's (APL)'s consolidated net profit by 45 per cent in the quarter ended June 30, 2021. As against a consolidated net profit of Rs 301 crore in the corresponding Q1 of previous fiscal 2020-21, the company registered the same at Rs 165 crore for Q1 of current fiscal year 2021-22. APL's consolidated revenues from operations also fell marginally to Rs 1,326 crore in Q1 of FY22, from Rs 1,341 crore in the corresponding period last year.

L&T Q1 consolidated net surges four-fold at Rs 1,174 cr on higher revenue

Auto focused mid-cap IT services player KPTI Technologies reported net profit of Rs 60.2 crore for the first quarter of FY22, a growth of 2.5x yearon-year, on sequential basis profit was up 14.2 per cent. Revenue grew 15 per cent year-on-year at Rs 567.38 crore, on a quarter-on-quarter basis revenue was up 5 per cent. In US dollar terms the company reported revenue growth of 4.3 per cent QoQ at $77.20 million.

Axis Bank Q1 net up 94% YoY at Rs 2,160 cr on sharp dip in provisions

Private lender Axis Bank's net profit rose by 94 per cent to Rs 2,160 crore in the first quarter ended June 2021 (Q1FY22) on a rise in non-interest income and a sharp dip in provisions. The bank posted net profit of Rs 1,112 crore during the same quarter last year (Q1FY21). Sequentially, the bank had booked a profit of Rs 2,677 crore in the quarter ended March 2021 (Q4FY21). Its net interest income (NII) rose by 11 per cent in Q1FY22 to Rs 7,760 crore from Rs 6,985 crore in Q1FY21. Net interest margin (NIM) for the reporting quarter rose to 3.46 per cent for Q1FY22 from 3.4 per cent for Q1FY21. NIM was 3.56 per cent in Q4Fy21. Its non-interest income was up by 39 per cent on YoY basis to Rs 3,588 crore in Q1FY22. Within it, the fee-income grew 62 per cent to Rs 2,668 crore.

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