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After bumper listing, Nykaa reports 96% decline in Q2 net profit

Fashion and cosmetics online retailer Nykaa’s net profit fell 96 per cent to Rs 1.1 crore in the September quarter (second quarter, or Q2) on a year-onyear (YoY) basis and 69 per cent, compared with the June quarter. The company, which hit Rs 1 trillion in market capitalisation after listing on the bourses last week, saw its revenue from operations increase 47 per cent to Rs 885 crore on a YoY basis. Nykaa’s marketing and advertising expenses grew 286 per cent to Rs 121 crore in the September quarter, compared with Rs 31.5 crore in the year-ago period. However, the company said its gross profit margin improved 345 basis points to 39.3 per cent in the September quarter, compared with the corresponding quarter of the previous financial year.

Maruti Suzuki aims to drive in more CNG trims across its product range

Maruti Suzuki India (MSI) plans to drive in CNG trims across its product range as it remains bullish over long-term prospects of the segment amid increase in fuel prices and drop in diesel car sales, according to a senior company official. The company, which sold around 1.62 lakh CNG cars last fiscal year, is also counting on the rapid expansion of CNG dispensing outlets across the country to bring in more CNG products. Bullish on the expansion of the sales network, the automaker expects its CNG car sales to almost double this fiscal year over 2020-21.

Teething issues remain for Hindustan Petroleum and ONGC merger

Public sector undertakings (PSUs) Oil and Natural Gas Corporation (ONGC) and Hindustan Petroleum Corporation (HPCL) have been developing synergies since the former bought the government stake in HPCL in a Rs 36,000-crore deal over three years ago. Unresolved issues, however, continue to remain with the two PSUs, which work under the administrative control of the Union Ministry of Petroleum and Natural Gas.

Fino Payments Bank reports 74% jump in profit for Sept quarter Recently listed

Fino Payments Bank on Saturday reported a 74 per cent jump in its net profit to Rs 7.89 crore in the quarter ended in September 2021. The bank had posted a net profit of Rs 4.52 crore in the year ago same period. Revenue of the bank grew by 35 per cent year-on-year to Rs 242.15 crore on the back of a growth of 32 per cent in transaction revenue, 43 per cent in subscription income and 35 per cent in open banking, Fino Payments Bank said in a regulatory filing.

Manappuram Finance posts 8.8% decline in consolidated profit in Jul-Sep

Manappuram Finance reported an 8.8 per cent decline in its consolidated net profit to Rs 369.88 crore in the quarter ended in September 2021 due to lower income. The non-banking finance company had posted a net profit of Rs 405.44 crore in the July-September quarter of 2020-21.

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