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NTPC net profit rises 19% to Rs 4,626 cr in Dec quarter State-run power giant

NTPC on Saturday posted more than 19 per cent rise in its consolidated net profit to Rs 4,626.11 crore in the December quarter compared to the year-ago period mainly driven by higher revenues. The company had reported a consolidated net profit of Rs 3,876.36 crore in the quarter ended on December 31, 2020, according to a BSE filing. Total income of the company rose to Rs 33,783.62 crore in the quarter from Rs 28,387.27 crore in the same period a year ago.

Reliance's $75 billion plan aims to make India a hydrogen hub

Billionaire Mukesh Ambani’s ambitious effort to pivot his conglomerate Reliance Industries Ltd. toward green energy could transform India into a clean-hydrogen juggernaut. Ambani, Asia’s richest man, announced plans earlier this month to invest $75 billion in renewables infrastructure including generation plants, solar panels and electrolyzers. There is growing speculation that the strategy entails transforming all of that clean power into hydrogen, one of the largest endorsements in the next-generation fuel. Analysts say Reliance is likely to opt for hydrogen in a bid to avoid India’s wholesale electricity market, which is dominated by financially stressed utilities and plagued by delayed payments.

MRPL third quarter profit rises to Rs 969 crore

The Mangalore Refinery and Petrochemicals Limited (MRPL) posted a net profit of Rs 969 crore during the third quarter of 2021-22 against a loss of Rs 76 crore in the corresponding period in 2020-21. The gross revenue from operations stood at Rs 25,238 crore during Q3 of 2021-22 against Rs 14,136 crore in the third quarter of 2020-21. Multiple initiatives have been taken to improve revenue from marketing margins in domestic, exports and business-to-business (B2B) arrangements, a company release here said. The gross refining margin (GRM) of the company stood at Rs 9.29 a barrel during Q3 of 2021-22 as against Rs 3.26 a barrel in the corresponding period of the previous year. GRM is the difference between the price of crude oil and the end products.

Suzlon Energy reports net profit of Rs 37 crore in December quarter

Suzlon Energy on Friday posted a consolidated net profit of Rs 37.73 crore in the December 2021 quarter. The company had reported a consolidated net loss of Rs 118.06 crore in the quarter ended on December 31, 2020, according to a BSE. Its total income rose to Rs 1,615.06 crore in the quarter, from Rs 959.52 crore in the same period a year ago.

Saregama India plans to invest up to Rs 750 cr in music business

Saregama India, a part of RP-Sanjiv Goenka Group, is planning to invest up to Rs 750 crore in its music business to achieve a 25-30 per cent revenue growth in the next few years through organic and inorganic routes, an official said. It is also foraying into a new business segment of artiste partner programme to launch their music videos and audios on its platforms with an arrangement of sharing revenue, he told analysts.

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