Adani Enterprises
The subsidiary company Adani Road Transport (ARTL) has
entered into a definitive agreement to acquire Gujarat Road and Infrastructure
Company (GRICL) and Swarna Tollway (STPL), for Rs 3,110 crore. ARTL will
acquire 56.8% in GRICL and a 100% stake in STPL from Macquarie Asia
Infrastructure Fund. The acquisition is subject to regulatory approval. The
transaction is expected to close in September 2022.
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BEML
The company reported a consolidated loss of Rs 82.36 crore
for the quarter ended June 30, 2022, compared to a loss of Rs 94 crore in the
year-ago period. Revenue grew by 43% year-on-year to Rs 669.2 core in the first
quarter of fiscal 2023. The company has an order book of Rs 9,100 crore as of
June 2022 including an order booking of Rs 571 crore during the quarter ended
June 2022.
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Lupin
The drug maker reported a consolidated net loss of Rs 89
crore for the first quarter ended June 30 due to lower sales in the US market.
It had reported a net profit of Rs 542 crore in the year-ago period. Its total
revenue from operations stood at Rs 3,744 crore in the June quarter compared to
Rs 4,270 crore in the year-ago period
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Manappuram Finance
The company reported a 35.6% year-on-year decline in profit
at Rs 282 crore for the April-June quarter of fiscal 2022 as impairment on
financial instruments remained elevated. Revenue from operations declined 4% to
Rs 1,502 crore during the reported period.
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LIC Housing Finance
The housing finance company clocked a 503% year-on-year
growth in profit at Rs 925.5 crore for the quarter ended June 2022 as
impairment on financial instruments decline sharply. Revenue from operations
grew 9% year-on-year to Rs 5,285.5 crore for the June quarter.
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Spandana Sphoorty Financial
The rural focussed micro-lender reported a net loss of Rs
220 crore for the quarter ended June 2022, primarily on account of a one-time write-off.
It had posted a net profit of Rs 55 crore in the year-ago period. The total
income during April-June 2022 declined to Rs 259 crore from Rs 435 crore in the
same period of 2021-22 due to a fall in interest income.
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Gujarat State Petronet
The company posted an 11% year-on-year growth in
consolidated profit at Rs 648.16 crore for the quarter ended June 2022, on the
back of higher input costs. Revenue surged by 63% year-on-year to Rs 5,670
crore for the first quarter of fiscal 2023.
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Adani Ports
AD Ports Group has signed a Memorandum of Understanding
(MoU) with Adani Ports and SEZ, for strategic joint investments in end-to-end
logistics infrastructure and solutions, which include rail, maritime services,
port operations, digital services, and industrial zone, and the establishment
of maritime academies in Tanzania.
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REC Limited
The company reported an 8.2% year-on-year increase in
consolidated profit at Rs 2,454.2 crore for the quarter ended June 2022, due to
a decline in impairment in financial instruments. Revenue decreased 0.55%
year-on-year to Rs 9,497.5 crore for the June quarter of fiscal 2022.
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Alembic Pharmaceuticals
The pharma company reported a consolidated loss of Rs 65.88
crore for the April-June quarter of fiscal 2022, against a profit of Rs 164.52
crore in the year-ago period, impacted by a lower top line. Revenue declined
nearly 5% to Rs 1,262.14 crore compared to the year-ago period.
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Balkrishna Industries
The company posted a 7.1% year-on-year decline in
consolidated profit at Rs 307 crore for the first quarter of fiscal 2023,
impacted by higher input costs and freight & forwarding expenses. Revenue
grew 45.3% year-on-year to Rs 2,619.43 crore for the April-June quarter.
