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SAIL Q4 net slips 29% to Rs 2,479 cr, firm declares dividend of Rs 2.25

State-owned Steel Authority of India on Monday reported 29% decline in consolidated net profit at Rs 2,479 crore for the quarter ending March 31, 2022. It reported consolidated net profit of Rs 3,470 crore in the year-ago period. However, on sequential terms, the company's net profit rose 62% in Q4FY22.

SAIL's consolidated revenue from operations rose 32% to Rs 30,759 crore as against Rs 23,285 crore in Q4FY21. The company declared final dividend of Rs 2.25 per equity share for FY22

RITES hits pre-Covid revenue levels in FY22 with 21% jump on strong export

Transport infrastructure and consultancy firm RITES Ltd reached pre-Covid revenue levels in FY22 at Rs 2,745 crore, the railways public sector undertaking said after releasing its results for the quarter ended March.

In the January-March quarter, total revenue increased by 20.9 per cent to Rs 765 crore as against Rs 632 crore in Q4 FY21, owing to strong performance in consultancy, leasing, and exports, the company said.

IndiGo Q4 results: Loss widens to Rs 1,682 cr on higher fuel costs

InterGlobe Aviation, which operates flights under IndiGo brand, on Wednesday reported that its consolidated loss widened to Rs 1,682 crore for the quarter ending March 31, 2022 as higher fuel costs more than offset a rebound in demand for air travel. It reported consolidated loss of Rs 1,147 crore in the year-ago period when a raging pandemic kept people at home.

The company's consolidated revenue from operations rose 29% to Rs 8,021 crore in Q4FY22 as against Rs 6,223 in Q4FY21.

J&J, Momenta Pharma file patent infringement lawsuit against Natco, Mylan

Homegrown pharma firm Natco on Wednesday said Johnson & Johnson and Momenta Pharmaceuticals have filed a patent infringement lawsuit against the company and its marketing partner Mylan Pharmaceuticals Inc, along with others, in the US.

Johnson & Johnson and Momenta Pharmaceuticals lawsuit alleges infringement of two old patents associated with 20mg/ml and 40mg/ml Glatiramer Acetate injection, Natco said in a regulatory filing.

Govt approves sale of entire remaining stake in Hindustan Zinc

The Cabinet Committee on Economic Affairs (CCEA) has approved the sale of its remaining 29.5 per cent stake in Hindustan Zinc Ltd (HZL) as the centre looks to accelerate its disinvestment drive with some key privatisation proposals hitting hurdles.

The sale of the entire 29.5 per cent stake in HZL would fetch the centre about Rs 38,560 crore at current share market price. The government may sell its shares in tranches through offer for sale (OFS), and the sale will be structured by the Department of Investment and Public Asset Management (DIPAM), an official said.

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