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Tata Motors posts Rs 1,451-cr loss in Q3 amid chip shortage

Homegrown auto major Tata Motors on Monday reported a consolidated net loss of Rs 1,451.05 crore for the third quarter ended December 31, 2021, dragged down by the impact of semiconductor shortage on its British arm Jaguar Land Rover (JLR). The company had posted a consolidated net profit of Rs 2,941.48 crore in the same period last fiscal. Its consolidated revenue from operations stood at Rs 72,229.29 crore in the third quarter as against Rs 75,653.79 crore in the year-ago quarter, it added.

Tata Steel arm to buy govt stake in Neelachal Ispat for Rs 12,100 crore

After Air India, another public sector undertaking (PSU) Neelachal Ispat Nigam (NINL) has been bagged by the Tata Group, giving a strong push to the government’s privatisation drive showcasing the interest of marquee private sector investors in Centre’s assets. The Alternate Mechanism on divestment has approved sale of 93.7 per cent stake held in NINL, by four central PSUs and two Odisha government companies, to Tata Steel Long Products at an enterprise value of Rs 12,100 crore. The alternative mechanism is empowered by Cabinet Committee on Economic Affairs (CCEA) to take divestment related decisions, and includes Minister for Road Transport and Highways Nitin Gadkari, Finance Minister Nirmala Sitharaman and Commerce and Industry Minister Piyush Goyal. The reserve price for the PSU was set at Rs 5,616.97 crore, and approved by the Cabinet Secretary headed Core Group of Secretaries on Divestment.

Godawari Power and Ispat Q3 net profit doubles to Rs 337 crore

Godawari Power and Ispat Ltd (GPIL) on Monday reported an over two-fold jump in net profit at Rs 336.87 crore for the quarter ended December 31, 2021. In the year-ago quarter, the company's "net profit from ordinary activities after tax" stood at Rs 166.36 crore. Total income from operations was at Rs 1,614.66 crore during October-December 2021-22 as against Rs 1,132.49 crore a year ago. Expenses were at Rs 1,160.54 crore compared to Rs 856.94 crore in same period of 2020-21.

Shipping Corp's profit jumps 136.8% to Rs 311.5 cr in

December quarter Disinvestment-bound Shipping Corporation of India on Monday reported a 136.78 per cent jump in consolidated profit to Rs 311.54 crore for the quarter ended December 31, 2021. The company had posted a consolidated profit of Rs 131.57 crore in the corresponding quarter of the previous financial year, Shipping Corporation of India said in a filing to the BSE. Its consolidated income during OctoberDecember 2021 rose to Rs 1,456.23 crore, from Rs 872.82 crore in the yearago period, the filing said. Consolidated expenses also increased to Rs 1,141.87 crore, from Rs 765.42 crore a year ago.

Orient Cement's net profit declines 18.9% to Rs 43.7 cr in Dec quarter

C K Birla group firm Orient Cement Ltd on Monday reported an 18.9 per cent decline in its net profit to Rs 43.67 crore for the third quarter ended December 31, 2021. It had posted a net profit of Rs 53.88 crore in the corresponding quarter last year, Orient Cement. However, its revenue from operation during October-December 2021 rose 2.13 per cent to Rs 617.52 crore, compared with Rs 604.61 crore in the year-ago period.

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