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L&T Q4 consolidated net profit up 3% to Rs 3,293 crore on higher revenues

India’s largest engineering and construction firm Larsen & Toubro (L&T) on Friday reported a consolidated net profit of Rs 3,293 crore for Q4, up 3 per cent year-on-year (YoY) on higher revenues and surge in other income. The reported net profit was higher than Bloomberg consensus estimate of Rs 3,042 crore, despite the 116 per cent YoY jump in tax expenses to Rs 2,087 crore. In Q4, net sales at Rs 48,088 crore, up 8.7 per cent YoY, were slightly lower than expectations of Rs 48,602 crore. Sequentially, revenues jumped 35 per cent. “The revenue growth on a YoY basis was evidencing return to pre Covid levels of activity. The international revenues at Rs 15,851 crore constituted 33 per cent of the total revenue.

Cipla Q4 profit up 73% at Rs 412 cr, total revenue at Rs 4,606 cr

Drug major Cipla on Friday posted 73 per cent rise in consolidated net profit at Rs 412 crore for the fourth quarter ended March 31, 2021 on the back of robust sales across markets. The Mumbai-based firm had reported a net profit of Rs 238 crore in January-March 2019-20. Total revenue from operations rose to Rs 4,606 crore as compared with Rs 4,376 crore in the same period of 2019-20, Cipla said in a regulatory filing. For the entire 2020-21 fiscal year, the drug maker reported a consolidated net profit of Rs 2,389 crore as against Rs 1,500 crore in the previous year.

Welspun India Q4 net surges 48%, announces Rs 200 crore share buyback

Welspun India on Friday reported a 48.3 per cent jump in consolidated net profit to Rs 134.34 crore in the fourth quarter ended March 2021, helped by higher income. The company had posted a net profit of Rs 90.59 crore in the year-ago period. The total income during the quarter under review stood at Rs 2,173.56 crore as against Rs 1,664.46 crore in the corresponding quarter a year ago, Welspun India said in a regulatory filing. The company, in a separate filing, said its board has approved buyback of equity shares by the company at a price of Rs 120 per equity share for an aggregate amount of Rs 200 crore, representing 6.36 per cent of the total paid-up equity share capital and free reserves from the shareholders of the company on a proportionate basis.

Truck rentals on key trunk routes down by further 5-7% in past fortnight

Truck rentals on key routes have fallen by another 5 to 7 per cent in the past 15 days, reflecting a slowdown in the overall economic activity as a deadly second wave ravages the country. This comes on back of a sharp decline in the factory output and pandemic-induced restrictions in various states, according to the freight rate data released by Indian Foundation of Transport Research and Training (IFTRT) on Sunday. The New Delhi-based think-tank warns of a long road to recovery for the road transport sector as Covid-19 makes deeper inroads in the hinterlands

Cholamandalam Financial's standalone fourth quarter net at Rs 31.97 crore

Cholamandalam Financial Holdings Ltd has reported a standalone profit of Rs 31.97 crore for the quarter ending March 31, 2021. The city-based Murugappa Group company registered standalone profit of Rs 25.36 crore during the corresponding quarter last. For the year ending March 31, 2021, standalone profits stood at Rs 21.71 crore against Rs 83.33 crore a year ago. The standalone total income for the quarter under review grew to Rs 50.74 crore from Rs 28.66 crore registered in the same quarter last fiscal. For the year ending March 31, 2021, the standalone total income was Rs 58.14 crore against Rs 90.90 crore last year.

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