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Procter & Gamble second quarter net profit jumps 84% to Rs 250.62 cr

FMCG firm Procter & Gamble Hygiene and Health Care Ltd on Wednesday reported an 84.37 per cent increase in its net profit to Rs 250.62 crore for the second quarter ended December 2020. The company, which follows July-June financial year, had posted a net profit of Rs 135.93 crore in the corresponding quarter previous fiscal, Procter & Gamble said in a regulatory filing. Its revenue from operations surged 18.52 per cent to Rs 1,018.44 crore during the period under review as against Rs 859.27 crore in the October-December period last fiscal.

Thermax net marginally down 2% at Rs 83 crore in December quarter

Thermax on Wednesday reported a marginal decline of 2 per cent in its consolidated net profit at Rs 83 crore for the December quarter, mainly due to certain exceptional items. "Profit after tax and exceptional items for the quarter was Rs 83 crore, down 2 per cent compared to Rs 85 crore in the corresponding quarter of FY2019-20," the company said in a regulatory filing. It explained that the exceptional items impacted the results on account of impairment of goodwill in Thermax Netherlands B V and reversal of part of the provision created earlier for claims arising from the closure of a German subsidiary.

Bharti Airtel back in the black, posts Rs 854-crore profit in Q3

Bharti Airtel on Wednesday posted a consolidated net profit of Rs 854 crore in the third quarter of December FY21, after six straight quarters of losses. However, its Indian operations, despite a substantial improvement in financial performance, are still in the red, posting a loss of Rs 7.34 crore in the reporting quarter, though lower than the staggering Rs 628 crore in the previous one. While its average revenue per user (ARPU) went up by 2.4 per cent from Rs 162 in Q2 to Rs 166 this quarter, it was lower than that of Reliance Jio, which saw 4 per cent growth in the same period. The two companies have been neck and neck on Ebitda (earnings before interest, tax, depreciation, and amortisation) margins. Bharti’s Ebitda as a percentage of revenue stood at 45.2 per cent and that of Jio was at 44.2 per cent.

V-Guard Industries net profit up 77% to Rs 78.24 cr in Dec quarter

V-Guard Industries Ltd on Wednesday reported a nearly 77 per cent increase in consolidated net profit at Rs 78.24 crore in the third quarter ended December 2020. It had posted a net profit of Rs 44.24 crore in the October-December quarter last fiscal,V-Guard Industries said in a regulatory filing. Revenue from operations rose 32.15 per cent to Rs 835.03 crore during the period under review.

Future moves HC against order to maintain status quo on Reliance deal

Kishore Biyani-led Future Retail moved the Delhi High Court on Wednesday against its single judge order directing the company to maintain status quo on its Rs 24,713 crore deal with Reliance Retail, which has been objected to by US-based e-commerce giant Amazon. FRL's appeal was mentioned before a Joint Registrar of the high court who allowed it to be listed for hearing on Thursday, a lawyer associated with the case said. Justice J R Midha on Tuesday said the court was satisfied that an immediate interim order was required to be passed to protect the rights of Amazon.

Ujjivan SFB reports net loss of Rs 279 cr in Q3 on higher provisioning

Ujjivan Small Finance Bank reported a net loss of Rs 279 crore in the 3Q FY21, mainly due to higher provisioning (Rs 90 crore YoY). Ujjivan SFB said there was a loss of Rs 279 crore in Q3 FY21 on account of accelerated credit provisioning.

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