Trending Stocks: Adani Green, Subex, Voltas, ITC and others in news today
- Adani Green Energy reported a 2.3% YoY decline in consolidated profit at Rs 214 crore
- Aurobindo Pharma's facility in Andhra Pradesh has received a 'Form 483' with 3 observations
- Voltas reported a 10% YoY decline in profit at Rs 110 crore
Adani Green Energy
The Adani Group-owned firm reported a 2.3% year-on-year decline in consolidated profit at Rs 214 crore for the quarter ended June 2022, impacted by lower other income and forex loss. Revenue jumped by 58% year-on-year to Rs 1,701 crore during the reported quarter. Strong growth in revenue and EBITDA from the power supply is backed by capacity addition, improved solar and wind CUF, and high hybrid CUF. The consistent EBITDA margin (flat at 92% year-on-year), is backed by the high solar, wind, and hybrid CUF and cost efficiencies brought in through real-time centralized monitoring through the energy network operation center.
The pharma major’s API non-antibiotic manufacturing facility in Andhra Pradesh has received a 'Form 483' with 3 observations, but none of these observations is related to data integrity. The USFDA inspected the company’s Unit XI, an API non-antibiotic facility from July 25 to August 2. Earlier, the same Unit was classified as OAI on May 17, 2019, and subsequently issued a warning letter dated June 20, 2019.
Jio Platforms announced a partnership with Subex for its AI Orchestration Platform, Hypersense, which can allow telecom operators to deliver on the promise of AI across the data value chain. Jio Platforms will offer its Cloud Native 5G Core to telcos globally along with Subex’s HyperSense for enabling closed-loop network automation, product performance, and customer experience analytics.
The Tata Group subsidiary reported a 10% year-on-year decline in profit at Rs 110 crore for the quarter ended June 2022 impacted by other income. Revenue from operations increased by 50% year-on-year to Rs 2,795 crore during the first quarter, largely driven by the unitary cooling products segment that grew 125% year-on-year.
The company posted a 4.7% year-on-year increase in consolidated net profit at Rs 62.77 crore for the quarter ended June 2022, impacted by higher finance costs, and input costs but supported by the top line. Revenue from operations surged 85% year-on-year to Rs 2,434.66 crore during the reported quarter.
The company’s board of directors will meet on August 9 to
consider the issuance of bonus equity shares. The board will also consider
un-audited financial results (consolidated and standalone) of the company for
the quarter ended June 2022, on the same date.
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The company has shut its lifestyle retailing business following a strategic review of its business portfolio.
The USFDA has issued six observations to the company’s solid dosage manufacturing facility at the Roorkee plant. The USFDA finished an audit of this facility of Jubilant Generics, a subsidiary of its fully owned subsidiary Jubilant Pharma.
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Mahindra & Mahindra Financial Services
The company said in July 2022, the business continued its momentum with the disbursement of approximately Rs 3,912 core delivering a 63% year-on-year growth and a 3% sequential month-on-month growth, against the backdrop of a positive macro environment. The year-to-date disbursement at approximately Rs 13,385 crore registered a year-on-year growth of 114%. The collection efficiency (CE) was at 97% for July 2022, better than the CE of 95% for July 2021.