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Wipro beats estimates but profit falls 9.6% QoQ; IT revenue up 7.7%

Sugar companies' revenue is likely to grow by 5-7 per cent in 2021-22, following firm domestic and global prices and expected growth in both sugar exports and ethanol volumes, according to a report. On the back of favourable pricing environments domestically and globally as well as increased share of ethanol in revenue mix, the revenues of a sample of sugar companies are expected to grow by 5-7 per cent in FY22 on a yearon-year basis, Icra said in a report.

Air India sale kicks off privatisation drive, next up LIC listing: Official

Infosys, the country's second largest software exporter, on Wednesday reported 12% growth in consolidated net profit at Rs 5,421 crore for the second quarter ended September 30, 2021, compared to Rs 4,845 crore in the same quarter last year. The revenue rose 20% to Rs 29,602 crore as against Rs 24,570 crore a year ago. The company's board approved dividend of Rs 15 per share.

Shriram Housing Fin gets Rs 300-crore equity capital from parent firm

To oil its fast-paced expansion and the resultant expansion of its loan book, affordable segment-focused Shriram Housing Finance has secured an additional Rs 300 crore equity capital from the parent Shriram City Union Finance, taking its total equity capital to about Rs 1,100 crore. The company has set a target of crossing Rs 5,600 crore of assets under management (AUM) target by March, as it had already crossed the Rs 4,000-crore mark in July and the new growth capital will help it expand the balance sheet faster.

Bayer CropScience okays sale of traded seeds biz to Crystal Crop Protection

Bayer CropScience Ltd on Wednesday approved sale of its traded seeds business, along with property in Telangana, to Crystal Crop Protection Ltd for Rs 62 crore. In a regulatory filing, the company said its board of directors has approved the sale of its traded seeds business related to cotton, millet, mustard and sorghum crops along with real estate property owned by the company at Patancheru, Telangana, to Crystal Crop Protection on a slump sale basis for a total consideration of Rs 62 crore. The transaction is subject to the fulfillment of agreed conditions before the closing date.

Mindtree second quarter net profit up by 57% to Rs 399 crore

IT company Mindtree on Wednesday posted a 57.2 per cent increase in its net profit to Rs 398.9 crore in the September quarter. The company had posted a net profit of Rs 253.7 crore in the corresponding quarter a year ago. The consolidated revenue from operations during the reported quarter increased 34.27 per cent to Rs 2,586.2 crore from Rs 1,926 crore in the year-ago quarter of FY21. "Our revenue in the second quarter was USD 350.1 million, up 12.7 per cent sequentially and 34.1 per cent year-on-year, which was our highest year-on-year growth for a quarter in a decade," Mindtree CEO and MD Debashis Chatterjee said in a statement.

Air India under Tata Group will be real challenge: IndiGo CEO Ronojoy Dutta

A revamped Air India under the Tata Group will be a real challenge while new airline Akasa Air will be a far less competitive force for the next twothree years, IndiGo CEO Ronojoy Dutta said on Wednesday. Akasa Air, which is backed by former IndiGo president Aditya Ghosh, ace investor Rakesh Jhunjhunwala and former Jet Airways CEO Vinay Dube.

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