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India expected to see higher salary with 9.3% hike in 2022: Report

Higher salaries in India are making a comeback with 9.3 per cent hike being expected in 2022, from 8 per cent in 2021, and with companies planning to give employees larger raises as they face mounting challenges of attracting and retaining employees, according to a report. Salaries are projected to see a median salary increase of 9.3 per cent next year compared to the actual median salary increase of 8 per cent in 2021, according to the 'Salary Budget Planning Report' by global advisory, broking and solutions company Willis Towers Watson.

Jubilant Foodworks Q2 net profit rises 58% to Rs 120 cr

Jubilant Foodworks Ltd on Wednesday reported 58.11 per cent jump in consolidated net profit at Rs 119.82 crore for the second quarter ended September 30, 2021 aided by higher sales. The company, which operates popular fast food chains such as Domino's Pizza and Dunkin' Donuts among others in India, had posted a profit of Rs 75.78 crore in the same period last fiscal year, Jubilant Foodworks Ltd (JFL) said in a regulatory filing. Revenue from operations in the second quarter stood at Rs 1,116.19 crore as compared to Rs 816.33 crore in the corresponding period of the last fiscal year.

Oriental Hotels expects recovery to be driven by domestic leisure, tourism

Oriental Hotels Ltd, an associate company of The Indian Hotels Company Ltd, on Wednesday said the company expects business recovery to be driven by domestic leisure and business tourism. The company, which has seven hotels including Taj Coromandel, Taj Fisherman's Cove Resort and Spa, Chennai, recorded a standalone net loss at Rs 4.97 crore for the quarter ending September 30, 2021 as against a net loss of Rs 17.71 crore recorded during corresponding quarter previous year due to the impact caused by the Covid-19 pandemic. Revenue during the quarter grew to Rs 53 crore from Rs 17.93 crore recorded in corresponding quarter previous year.

L&T Finance Holdings Q2 consolidated net profit declines 15% to Rs 224 cr

L&T Finance Holdings Ltd's (LTFH) consolidated net profit declined by 15 per cent, on an annual basis, to Rs 224 crore in the second quarter ended September 2021 (Q2FY22). However, sequentially it rose by about 26 per cent from Rs 178 crore in the first quarter ended June 2021 (Q1FY22), which coincided with the second wave of pandemic. Dinanath Dubhashi, Managing Director & Chief Executive, LTFH, said, profits declined in Q2FY22 on an annual basis due to contraction in loan book and higher rate of taxation.

Havells Q2 profit drops 7.34% to Rs 302.39 cr, sales up 31.6%

Consumer electrical goods maker Havells India Ltd on Wednesday reported a 7.34 per cent decline in its consolidated net profit to Rs 302.39 crore for the quarter ended on September 30, 2021, compared to Rs 326.36 crore in the year-ago quarter. Its revenue from operations rose by 31.65 per cent to Rs 3,238.04 crore during the period under review as against Rs 2,459.49 crore in the corresponding period of the last fiscal. Commenting on the result, Havells India Chairman and Managing Director Anil Rai Gupta said, "We are enthused with healthy revenue growth across business verticals. Increase in commodity cost remains unabated creating margin headwinds. However, our outlook on demand remains fairly positive."

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