Life Insurance Corporation of India
Insurance giant Life Insurance Corporation of India (LIC)
reported an 18% decline in standalone net profit at Rs 2,372 crore for the
January-March quarter of fiscal 2022. The company had reported a net profit of
Rs 2,898.43 crore in the year-ago period. LIC’s net premium income increased
17.88% to Rs 1.44 lakh crore in the March quarter from Rs 1.22 lakh crore in
the same quarter of the previous financial year. The company board has also recommended
a dividend of Rs 1.50 per equity share with a face value of Rs 10 each for the
year ended March 31, 2022, subject to the approval of the shareholders in the
annual general meeting.
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Sun Pharma
India’s largest drugmaker reported a loss of Rs 2,277.2
crore for the January-March quarter of fiscal 2022, dented by exceptional loss,
against a profit of Rs 894.1 crore in the same period of the previous financial
year. EBITDA increased by 14.6% year on year to Rs 2,279.7 crore in the March
quarter. Revenue grew by 11% YoY to Rs 9,446.8 crore in the March quarter with
India formulation sales rising 18%, US formulation growth of 5%, emerging
markets formulation sales increasing 7% and Rest of World formulation sales
rising 7% YoY.
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IRCTC
Indian Railway Catering and Tourism Corporation Ltd
reported a 106% jump in Rs 214 crore for the quarter ending March 31, 2022,
driven by strong topline and operating performance. It reported a net profit of
Rs 104 crore in the year-ago period. Revenue from operations surged 103% to Rs
691 crore in the March quarter as against Rs 339 crore in the same quarter of
the previous financial year. The company’s board of directors recommended a
final dividend of Rs 1.5 per share for the financial year 2021-22.
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SpiceJet
The Directorate General of Civil Aviation (DCGA) on May
30, imposed a fine of Rs 10 lakh fine on SpiceJet for training 737 Max aircraft
pilots on a faulty simulator. Earlier, the DGCA had barred 90 SpiceJet Pilots
from flying B737 Max aircraft. The pilot will have to be retrained, the
regulator had ordered. “Training being imparted by SpiceJet could have
adversely affected flight safety and was nullified,” the regulator said.
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Campus Activewear
The fashion and athleisure footwear brand reported a 296%
year-on-year growth in consolidated profit at Rs 39.60 crore in the quarter
ended March 2022, driven by operating income and topline, and lower tax costs.
Revenue grew 28% to Rs 352.3 crore during the March quarter.
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PC Jeweller
The company reported a loss of Rs 173 crore in the March
quarter of fiscal 2022 against a profit of Rs 60 crore in the year-ago period
on lower revenue. Revenue from operations fell sharply to Rs 189 crore in the
reported quarter, compared to Rs 868 crore in the year-ago period.
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Wockhardt
The pharma company reported a widening of consolidated
net loss to Rs 311 crore in the fourth quarter ended March 31, 2022. The
company had posted a consolidated net loss of Rs 107 crore in the year-ago
period. Revenue grew marginally to Rs 655 crore during the quarter, up from Rs
632 crore in the same quarter last year.
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Dilip Buildcon
The company reported a loss of Rs 41.09 crore for the
March 2022 quarter against a profit of Rs 186.2 crore in the year-ago period,
impacted by operating loss and lower topline. Revenue declined 15% year on year
to Rs 2,663.7 crore in the reported quarter. The company appointed Sanjay Kumar
Bansal as Chief Financial Officer in place of Radhey Shyam Garg, who has been
designated as President – Finance.
