Online food delivery giant Zomato reported that its
consolidated net loss widened to Rs 360 crore in the quarter ending March 31,
2022, as expenses nearly doubled. The company reported a net loss of Rs 134
crore in the year-ago period. Consolidated revenue from operations rose 75% to
Rs 1,212 crore compared to the March quarter with Rs 692 crore in the same
quarter of the previous financial year. Total expenses during the March quarter
rose to Rs 1,701.7 crore as against Rs 885 crore in the year-ago period.
Divi’s Laboratories reported its consolidated net profit
increased by 78% to Rs 895 crore in the March quarter of the financial year
2021-22. The drugmaker had reported a net profit of Rs 502 in the March 2022
quarter of 2020-21 fiscal. Revenue from operations surge to Rs 2,518 crore
for the March 2022 quarter compared with Rs 1,788 crore in the year-ago period.
The company board has recommended a dividend of Rs 30 per share of the face
value of Rs 2 (1,500%) for 2021-22, subject to the approval of members at the
ensuing annual general meeting.
Bharat Electronics Limited
Bharat Electronics reported a 15.63% decline in net
profit at Rs 1154.20 crore in the March 2022 quarter compared with Rs 1,368.09
crore during the same quarter of the previous financial year. Sales declined 8.24%
to Rs 6,212.16 crore in the March quarter as against Rs 6,769.96 crore during the
previous quarter ended March 2021.
FMCG major Marico announced to acquire a majority 54%
stake in the digital-first healthy breakfast and snacks brand True Elements for
an undisclosed amount. The firm has acquired a 54% stake in HW Wellness
Solutions, which owns the brand True Elements, through primary infusions and secondary
buyouts, according to a company statement.
Steel Authority of India Limited (SAIL)
State-owned Steel Authority of India reported a 29% decline
in consolidated net profit at Rs 2,479 crore for the quarter ending March 31,
2022. It reported a consolidated profit of Rs 3,470 crore in the year-ago period.
Consolidated revenue from operations surged 32% to Rs Rs 30,759 crore in the March
quarter as against Rs 23,285 crore in the year-ago period. The company declared a final dividend of Rs 2.25 per equity share for fiscal 2022.
State-owned Oil and Natural Gas Corporation (ONGC) has
become the first gas producer to trade domestic has on the India Gas Exchange
(IGX), trading unspecified volumes from its
eastern offshore KG-DWN-98/2 block.
Rupa & Company
Rupa and Company announced that it has accepted the
resignation of Chief Executive Officer (CEO) Dinesh Kumar Lodha and Chief Financial
Officer (CFO) Ramesh Aggarwal. Both resignations will be in effect from May 31.
Maruti Suzuki India on May 23 announced to acquire an
equity stake of 12.09% in Sociograph Solutions Pvt Limited (SSPL) for about Rs
2 crore. SSPL is artificial intelligence (AI) software firm that specializes in
visual AI platforms predominantly used to help enterprises improve efficiency
in their businesses.