IGI Logo

Key News

PepsiCo reports double-digit Q2 growth in India despite Covid second wave

Global food and beverage major PepsiCo on Tuesday reported double-digit growth in India in second quarter, despite the market being severely hit by the second wave of the pandemic. PepsiCo's net revenue from the Africa, Middle East, South Asia (AMESA) division under which India comes, was at USD 1.6 billion in the quarter, up 62.97 per cent as against USD 0.98 billion in the year-ago period. PepsiCo's second quarter stands for March-AprilMay. In the AMESA division, PepsiCo's snacks unit volume reported "double-digit growth in India and Pakistan and mid-single-digit growth in the Middle East, partially offset by a high-single-digit decline in South Africa," said PepsiCo in an earning statement for Q2.

Tata Metaliks reports Rs 94.72 crore net profit for June quarter

Tata Metaliks Ltd, a subsidiary of Tata Steel, on Tuesday reported a net profit of Rs 94.72 crore for the quarter ended June 30, 2021. The company posted a net loss of Rs 12.36 crore in the year-ago quarter, Tata Metaliks said in a BSE filing. Total income during April-June 2021-22 increased to Rs 606.45 crore from Rs 210.99 crore in the year-ago period. Expenses were at Rs 471.62 crore during the quarter under review, up from Rs 227.46 crore a year ago.

Adani takes over Mumbai airport, becomes India's largest airport operator

The Adani group has completed the acquisition of Mumbai International Airport Limited (MIAL) and will begin construction of the greenfield airport in Navi Mumbai next month, it said in a release today. Last August the group announced the acquisition of Mumbai airport from the GVK group. The transaction concluded today giving the Adanis 74 per cent stake in MIAL. The Adanis already have six airports in their portfolio and with the addition of Mumbai airport the group will control control 25 per cent of passenger footfalls and 33 per cent of India's air cargo and make the group India's largest airport infrastructure company.

Sunteck Realty first quarter sales booking up 74% at Rs 176 crore

Sunteck Realty's sales booking rose 74 per cent year-on-year to Rs 176 crore during the first quarter of the 2021-22 fiscal despite the second wave of COVID pandemic. The company's sales bookings stood at Rs 101 crore in the year-ago period, Mumbai-based Sunteck Realty said in a statement. Kamal Khetan, Chairman and Managing Director, Sunteck Realty Ltd, said: In the quarter gone by, we continued our strong momentum in operational performance. Both pre-sales and collections witnessed sturdy growth along with high collections efficiency."

Vedanta says total production at Zinc International rises 62% in Q1

Vedanta Ltd on Tuesday said that total production at Zinc International rose 62 per cent to 61,000 tonnes in the first quarter of the ongoing fiscal. "Total production for Q1 FY22 was 61,000 tonnes, higher by 62 per cent as compared to Q1 FY21 mainly due to higher Gamsberg production due to ramp up and COVID lockdown restrictions which were in place in Q1 FY21," Vedanta said in a filing to the BSE. The company said that the cast metal aluminium production (including trial run) at its smelters in Jharsuguda and BALCO increased by 17 per cent to 5,49,000 tonnes in Q1 FY'22, over the year-ago period mainly due to ramp-up of pots.

To Read Complete Report & Disclaimer Click Here

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