Bank
of India
Public
sector lender Bank of India (BOI) reported a 142.3% rise in net profit to Rs
606 crore for the March quarter of 2021-22, on improvement in net interest
margins. It had posted a net profit of Rs 250 crore in the March quarter of
2020-21, the bank said in a statement. The board recommended a dividend of Rs 2
per equity share (of the face value of Rs 10) for 2021-22 subject to
shareholders’ approval.
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Indian
Hotels
Tata
Group hospitality firm Indian Hotels Company Ltd (IHCL) said its board has
approved the re-appointment of Puneet Chhatwal as Managing Director and CEO for
another term of five years. The board of directors, at its meeting held on
Tuesday, approved Chhatwal’s reappointment for another term commencing from
November 6, 2022, up to November 5, 2027, subject to shareholders’ approval,
IHCL said in a regulatory filing. Chhatwal was appointed to the company’s board
on November 6, 2017, it added.
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Future
Retail
Future
Retail said in an exchange filing that it won’t be able to release its March
quarter earnings report on May 30 due to board structure imbalance amid
multiple resignations by its top-level management. The company said it is
taking necessary actions to fill the vacancies caused by such resignation. The
company said it will announce the captioned results as early as possible after
the composition of the Board of Directors and the Audit Committee is complied
with the provisions of the Act and the Listing Regulations and is statutorily
capable to approve it.
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Grasim
Industries
Aditya
Birla Group’s flagship firm posted a consolidated net profit of Rs 3,656 crore
for the March quarter of the financial year 2022, up 57% from the year-ago
period, on the back of higher revenues and tax write back. Revenue from
operations grew 18% year on year to Rs 28,811 crore from Rs 24,402 crore. Tax
write back for the quarter stood at Rs 464 crore against tax paid of Rs 1,064
crore a year ago.
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Ipca
Labs
Pharmaceuticals
firm Ipca Laboratories Ltd reported a 19% decline in consolidated net profit at
Rs 130.23 crore in the March quarter of 2021-22, on account of higher expenses
The company had posted a consolidated net profit of Rs 161.34 crore in the
year-ago period. Consolidated net total income during the March quarter stood
at Rs 1,303.64 crore, up 15% from Rs 1,134.58 crore in the same quarter of the
previous financial year. The company said its board approved merging Tonira
Exports Ltd and Ramdev Chemical Pvt Ltd, wholly-owned subsidiaries with the
Company, subject to necessary approvals.
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Minda
Industries
Minda
Industries reported a net profit of Rs 144 crore in the March quarter, up 3%
from Rs 140 crore in the year-ago period. Revenue surged 7.90% to the Rs 2,415
crore in the reported quarter. The company board approved raising Rs 1,000
crore via debt. It also approved bonus shares of 1 new share for every 1 share
held.
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Brookfield
India REIT
The
company board will meet on May 27 to consider fundraising. ” Board to meet
on May 27 to consider various fundraising options and approve the raising of
funds and issue of units of Brookfield India Real Estate Trust, subject to
applicable law and, in relation thereto, issue of notice to the unitholders of
Brookfield India Real Estate Trust for approval of such fundraise, as
applicable,” the company said.
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Metropolis
Healthcare
Metropolis
Healthcare reported a 35% year on year decline in net profit to Rs 40 crore in
the March quarter. Revenue for the quarter jumped 5% year on year to Rs 306
crore. Total cost rose 20% YoY to Rs 255 crore. Earlier according to a news
report, the firm was planning to raise more than $300 million and bring on a
strategic partner by selling a major minority stake.
