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Maruti Suzuki Q3 net profit zooms 24% to Rs 1,941.4 crore on higher sales

India’s largest carmaker Maruti Suzuki on Thursday reported a 24 per cent year-on-year (YoY) rise in net profit to Rs 1,941.4 crore for quarter ended December 31 (Q3) of financial year 2020-21 (FY21). However, operating margins contracted by 70 basis points (bps) to 9.5 per cent, compared with 10.2 per cent in the corresponding period last year, because of a 31.29 per cent increase in raw material cost and 9 per cent rise in other expenses. The firm said it has limited capability to raise prices, despite a steep increase in prices of commodities, as demand is remains uncertain.

Pidilite Industries reports 29% rise in Q3 net profit at Rs 446.43 cr

Pidilite Industries on Thursday reported a 28.99 per cent increase in consolidated net profit to Rs 446.43 crore for the third quarter ended December 2020. The company had posted a net profit of Rs 346.11 crore in the same quarter previous fiscal, Pidilite Industries said in a regulatory filing. Its revenue from operations rose 19.33 per cent to Rs 2,299.02 crore during the quarter under review, as against Rs 1,926.59 crore in the yearago period.

Bharti Airtel tops Nov user additions, increases base to 335 mn:

Trai data Bharti Airtel topped mobile subscriber addition again in November, outpacing Reliance Jio, according to data from the Telecom Regulatory Authority of India (Trai). During the month, Airtel added 4.3 million users, increasing its base to over 334.6 million. Jio added 1.9 million mobile users, taking its customer count to 408.2 million.

Mahindra Finance reports net loss of Rs 223 cr in December quarter

Mahindra & Mahindra Financial Services on Thursday reported a consolidated net loss of Rs 223 crore for the third quarter ended December 2020. The financial services provider had posted a net profit of Rs 475 crore in the year-ago quarter. The total income declined by 3 per cent to Rs 2,993 crore during the third quarter as against Rs 3,081 crore in the same quarter last fiscal, Mahindra Finance said in a release. Total income during April-December was up 3 per cent at Rs 9,132 crore as against Rs 8,856 crore in the same period previous fiscal.

Tata Chemicals consolidated Q3 PAT down 3.66% to Rs 160.85 crore

Tata Chemicals on Thursday reported a 3.66 per cent decline in consolidated profit after tax (PAT) at Rs 160.85 crore for the third quarter ended December 2020. The company's PAT stood at Rs 166.97 crore during the corresponding period of 2019-20, Tata Chemicals said in a statement. Income from operations on a consolidated basis dipped 0.7 per cent to Rs 2,606 crore as compared to Rs 2,623 crore in the same quarter of the previous fiscal.

Shriram Transport Q3 profit down 17% at Rs 727 cr on addl Covid provision

Shriram Transport Finance Company on Thursday reported 17 per cent decline in net profit at Rs 727.72 crore for December quarter 2020-21 as it made additional provisions related to the COVID-19 pandemic. The key net interest income rose to Rs 2,148.22 crore from Rs 2,113.75 crore in the same period of the previous year. The company made an additional expected credit loss provision of Rs 224.82 crore in the quarter, taking its overall pandemic provisions to Rs 1,597.62 crore in April-December period of the fiscal and the total additional pandemic provision at Rs 2,507.26 crore

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