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Route Mobile's profit after tax jumps 27.4% to Rs 34.32 cr in June quarter

Communication services firm Route Mobile on Wednesday posted a 27.44 per cent jump in consolidated profit after tax to Rs 34.3 crore for the first quarter ended June 30, 2021, according to the company's regulatory filing. The company had registered a profit of Rs 26.9 crore in the corresponding quarter a year ago. During the latest quarter, the tax department asked Route Mobile to pay goods and services tax (GST) under reverse mechanism on the purchases of messages from its foreign vendors and sale to its overseas customers, of over Rs 33 crore, excluding the interest for the period between July 2017 and March 2019.

Embassy Office Parks REIT hopes demand will bounce back in early FY22

Embassy Office Parks REIT expects demand for office properties to bounce back by early next financial year, said a senior executive of the company. Request for proposals for nine million square feet of office space are active in the market, said Vikaash Khdloya, deputy CEO at the REIT. "Over 90 per cent of it is from global captive centres and technology firms. This will translate in two to three quarters. We expect demand to rebound by early FY22," he said.

Rating firm Icra Q1 consolidated net profit surges 43% to Rs 24.34 crore

Rating firm Icra on Wednesday reported a 43 per cent jump in its consolidated net profit to Rs 24.34 crore for the first quarter ended June 30. It had posted a net profit of Rs 17.05 crore in the year-ago period. The total income during April-June FY22 rose to Rs 90.52 crore, against Rs 80.80 crore in the first quarter of FY21, Icra said in a regulatory filing. The company said the board of directors at its meeting in May had recommended a dividend of Rs 27 per equity share for FY21 and the proposal will be taken for approval of the shareholders in the forthcoming annual general meeting.

Happiest Minds Technologies June quarter profit declines by 29%

IT firm Happiest Minds Technologies Ltd has reported a nearly 29 per cent decline in consolidated net profit to Rs 35.73 crore in the June 2021 quarter.The company, which got listed on BSE and NSE last year, had posted a net profit of Rs 50.18 crore in the year-ago period. Its revenue, however, grew 41.4 per cent at Rs 331.52 crore in the quarter under review from Rs 234.44 crore in the year-ago period, a regulatory filing said.

Century Textiles and Industries stock rises 16.6% after Q1 earnings

Shares of Century Textiles and Industries, subsidiary of Aditya Birla Group, gained 16.6 per cent after the company announced its quarterly earnings on Wednesday. The firm posted a profit of Rs 25 crore in Q1 FY22 as against a loss of Rs 36 crore in Q1FY21. The company’s sales went up 111 per cent at Rs 832 crore in Q1FY22 as against Rs 394 in Q1FY21. Among others, the company also announced it has obtained Intimation of Disapproval for its real estate project in Century Mills site at Worli

JM Financial June-qtr consolidated net jumps 117% to Rs 203 crore

JM Financial on Wednesday reported a consolidated net income of Rs 203.14 crore for the quarter to June, up 117 per cent over the same period in 2020, primarily on account of a low base due to the nationwide lockdown in the pandemic-hit year. Total income grew 43.6 per cent to Rs 992.55 crore during the reporting period. Its lending business saw the asset quality worsening, with gross NPAs almost doubling to 3.46 per cent from 1.8 per cent on-year, and net NPAs jumping to 1.89 per cent from 1.22 per cent, the company said in a statement.

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