IGI Logo

Key News

Jyothy Labs Q1 profit down 20% at Rs 40.20 crore on high input cost

Homegrown FMCG firm Jyothy Labs on Thursday reported 19.61 per cent decline in consolidated net profit at Rs 40.20 crore for June quarter 2021- 22 on account of increase in input cost. It had posted a net profit of Rs 50.01 crore in April-June period of the last fiscal year, Jyothy Labs said in a regulatory filing. However, revenue from operations was up 23.94 per cent to Rs 525.40 crore during the period under review as against Rs 423.90 crore earlier.

Reliance Jio adds 3.5 million users in May, Vodafone Idea & Airtel lose big

Reliance Jio fared better than rivals Bharti Airtel and Vodafone Idea (Vi) in May, as the Mukesh Ambani-led company brought on board 3.5 million users in the month, revealed a recent data by the Telecom Regulatory Authority of India (Trai). Both Airtel and Vi lost 4.6 million and 4.3 million subscribers, respectively. Industry experts believe the loss in user-base is mainly due to the lockdown and reverse migration to villages. The inactive users are removed from the list of subscribers 30 days after non-payment of tariff.

Concor Q1 consolidated net profit jumps multi-fold to Rs 251 crore

State-owned Container Corporation of India Ltd (Concor) on Thursday reported 409.67 per cent surge in consolidated net profit to Rs 251.22 crore for the first quarter ended June 30. The company had clocked a net profit of Rs 49.29 crore in the year-ago period, the multi-modal logistics company said in a regulatory filing. The total income during the April-June FY22 increased to Rs 1,876.79 crore, from Rs 1,251.50 crore a year ago. Its expenses stood at Rs 1,536 crore as compared to Rs 1,179.71 crore earlier.

Union Bank of India net profit up 255% to Rs 1,181 crore in June quarter

Public sector lender Union Bank of India on Thursday reported net profit of Rs 1,181 crore for the June quarter, a 254.9 per cent rise over Rs 333 crore last year, helped by improvement in interet margins and other income. The lender’s stock ended 6.9 per cent higher on the BSE at Rs 37.95 per share. The bank in a statement said its net interest income rose by 9.53 per cent year-on-year (YoY) in Q1FY22 to Rs 7,013 crore versus Rs 6,403 crore in quarter ended June 2020 (Q1FY21). Net interest margin improved to 3.08 per cent for Q1 against 2.78 per cent in the year-ago period.

Indus Towers posts consolidated profit after tax of Rs 1,415 crore in Q1

Telecom infrastructure firm Indus Towers on Thursday posted a consolidated profit after tax of Rs 1,415 crore in the first quarter ended June 30, 2021. Indus Towers had recorded profit after tax of Rs 1,121 crore in the same quarter a year ago. "The first quarter of financial year 2022 witnessed the second wave of COVID-19 pandemic impacting lives and livelihoods across the country on one hand and severe cyclones in many states on the other. Indus Towers continues to stand tall against all odds to ensure support for customers, society and nation. The company has also delivered a strong financial performance for the quarter," Indus Towers Managing Director and CEO Bimal Dayal said.

Oberoi Realty Q1 consolidated net profit more than doubles to Rs 81 crore

Oberoi Realty Ltd on Thursday reported an over two-fold jump in consolidated net profit at Rs 80.81 crore for the quarter ended June 2021. "The consolidated Profit After Tax for Q1, FY22 was Rs 80.81 crore as against Rs 29.27 crore for Q1, FY21 and Rs 287.47 crore for Q4, FY21," the Mumbai-based developer said in a statement.

To Read Complete Report & Disclaimer Click Here

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