Adani Ports and Special Economic Zone: The company’s consolidated profit increased by 65.5% year-on-year to Rs 1,738 crore for July-September quarter of financial year 2022-23, supported by the top line, operating income, and lower tax cost. Revenue jumped 33% year-on-year to Rs 5,211 crore for the quarter. Cargo stood at 86.6 million metric ton (MMT), a 15% year-on-year growth.
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LIC Housing Finance: The housing finance company reported a 23% year-on-year growth in net profit at Rs 305 crore for second quarter of fiscal year 2023. Revenue from operations for the quarter jumped 8% to Rs 5,085 crore compared to the year-ago quarter.
Tech Mahindra: The IT company has reported a net profit of Rs 1,299 crore, a 13% rise sequentially for the previous quarter. Total revenue from operations grew by 3.3% quarter-on-quarter to Rs 13,129 crore during the quarter. Revenue grew by 0.3% quarter-on-quarter in dollar terms, and by 2.9% in constant currency terms. The company has declared a special dividend of Rs 18 per share.
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Karnataka Bank: The bank reported 228% year-on-year growth in net profit at Rs 412 crore for July-September quarter of fiscal 2023 after there was a write-back of provisions and contingencies of Rs 14 crore in Q2FY23. Net interest income jumped 26% year-on-year to Rs 803 crore for the quarter.
Hero MotoCorp: The company sold 4.54 lakh motorcycles and scooters in the month of October 2022, 17% lower than the 5.47 lakh units sold in the year-ago month. In the current fiscal year, it sold 32.72 lakh units, 8.7% higher than the 30.11 lakh units sold in the same period last year.
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Eicher Motors: The company sold 82,235 units of Royal Enfield in the month of October 2022, 86% higher than the 44,133 units sold in the same month last year. International business sold 5,707 units of Royal Enfield in October this year, up 62% year-on-year.
Voltas: The company reported a net loss of Rs 6 crore for Second quarter of financial year 2022-23, against a profit of Rs 104 crore in the corresponding quarter last year, impacted by the provision made on an overseas project. Total income for the quarter stood at Rs 1,833 crore, 5.5% higher than the year-ago quarter.
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Kansai Nerolac Paints: The company has reported a 27% year-on-year rise in net profit at Rs 111.2 crore for Q2FY23, supported by operating income. Revenue from operations surged 19% year-on-year to Rs 1,931 crore during the quarter. The company witnessed good demand for automotive paints with the easing supply chain, but demand for decorative paints was lower due to extended rains.
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Veranda Learning Solutions: The company has canceled the acquisition of T.I.M.E. It had entered into a share purchase agreement (SPA) for the acquisition of 100% shareholding of Hyderabad-based firm T.I.M.E (Advanced Educational Activities Pvt Ltd) in April 2022. The transactions could not be executed by the long stop date. Accordingly, the SPA has now been terminated by the parties.