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Tata Steel consol Q3 PAT at Rs 3,698 cr vs Rs 1,029 cr loss a year ago

Tata Steel, the country’s oldest steel producer, reported a consolidated net profit of Rs 3,698 crore in the December quarter as against a loss of Rs 1,029 crore in the corresponding period last year on the back of increased revenue, which was aided by both higher steel prices and volumes. The profit was ahead of consensus estimate of Rs 3,353 crore, according to Bloomberg, mainly led by the India operations. The company’s net sales in the period under review stood at Rs 38,806 crore, up 12 percent from same period last year on improved demand for steel in the domestic market, and were largely in line with expectations of Rs 38,982 crore.

Future Retail Q3 loss at Rs 846.92 cr, revenue down 71% to Rs 1,506.87 cr

Future Retail Ltd on Tuesday reported a consolidated net loss of Rs 846.92 crore for the third quarter ended on December 2020 as business operations continued to be impacted by the pandemic during the quarter. The company had posted a net profit of Rs 164.56 crore in the OctoberDecember quarter a year ago, Future Retail Ltd (FRL) said in a BSE filing. Its revenue from operations was down 71 per cent to Rs 1,506.87 crore during the quarter under review as against Rs 5,193.19 crore of the corresponding quarter last fiscal.

CenturyPly to pump in Rs 200 cr to expand MDF capacity; Q3 profit jumps

Century Plyboards India on Tuesday said it will pump in Rs 200 crore to expand the medium density fiber (MDF) board unit located at Hoshiarpur in Punjab, following rising demand in domestic and international markets. "After the COVID-19 pandemic, demand for furniture has jumped sharply. MDF requirement is also robust. The existing operating capacity of the plant is 600 cbm per day, which is expected to be 1,000 cbm after the expansion," Century Plyboards MD Sanjay Agarwal told PTI. "We are aiming to commission the expanded capacity within a year," he added. Meanwhile, the company reported a huge rise in consolidated net profit to Rs 65.79 crore during the quarter ended December as against a profit of Rs 37 lakh in the corresponding period a year ago.

Raymond third quarter profit declines 88.7% to Rs 22.18 crore

Raymond Ltd on Tuesday reported an 88.7 per cent plunge in its consolidated net profit to Rs 22.18 crore for the quarter ending December 2020. The company had posted a net profit of Rs 196.83 crore during the October-December period of the previous fiscal, Raymond said in a regulatory filing. Its revenue from operations was down 34.1 per cent to Rs 1,243.44 crore during the quarter under review as against Rs 1,885.43 crore in the corresponding period of the previous fiscal.

Dhanlaxmi Bank net profit plunges 44.5% to Rs 12 crore in December qtr

Private sector lender Dhanlaxmi Bank on Tuesday registered 44.5 per cent dip in net profit to Rs 11.81 crore in the third quarter ended December 2020 on muted retail business even as bad loan ratio declined. The bank's net profit was Rs 21.28 crore in the year-ago period. The total income was almost flat at Rs 286.21 crore during October-December of this fiscal, as against Rs 285.85 crore a year ago, the bank said in a regulatory filing. The interest income came down to Rs 237.36 crore from Rs 250.88 crore. Revenues from retail banking fell 31 per cent to Rs 83.67 crore, compared to Rs 121.14 crore in the same period previous fiscal.

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