Tata Motors: Automobile major Tata Motors on Wednesday reported a consolidated net loss of ₹944.61 crore for the second quarter ending September (Q2FY23). The company had posted a net loss of ₹4,441.57 crore in the year-ago period (Q2FY22) and ₹5,006.60 crore in the previous June quarter (Q1FY23), respectively. The homegrown auto major's consolidated revenue jumped 29.7% to ₹79,611.37 crore as against ₹61,378.82 crore from the year-ago period.
Coal India: State-owned Coal India on Wednesday reported a 33% increase in its capital expenditure to ₹7,017 crore during the first half of FY23. During the same period last financial year, the company had reported a capex of ₹5,300 crore. Two coal evacuation infrastructure heads--setting up coal handling plants (CHP)/silos and railways lines, combined--accounted for 36%, or ₹2,547 crore, of CIL’s total capex for the six months ended September 2022.
Adani Ports: Adani Ports and Special Economic Zone Ltd (APSEZ) on Wednesday said that it has acquired a 49.38% stake in Indian Oiltanking Ltd -- developer and operator of liquid storage facilities -- for ₹1,050 crore. APSEZ in a statement said this agreement also includes the acquisition of an additional 10% equity stake in IOT Utkal Energy Services Ltd, a 71.57% subsidiary of IOTL (Indian Oiltanking Ltd).
Axis Bank: The Specified Undertaking of the Unit Trust of India (SUUTI), under the Central Government, will sell up to 1.55% stake or 4.65 crore shares in Axis Bank via an offer for sale (OFS). Around 4.65 crore shares of Axis Bank will go on the block on 10 and 11 November, at a floor price of ₹830.63 per share, the bank informed in a regulatory filing. The government, at the current market price, is expected to realise about ₹4,000 crore from the share sale.
Divi's Lab: The Life Insurance Corporation of India (LIC) on 9 November said that its shareholding in Divis Laboratories has crossed 5% as it has purchased additional shares for ₹35.82 crore. The firm said that its shareholding in Divis Laboratories has increased from 4.992% to 5.032% as the number of shares held by it in the company rose from 1,32,54,663 to 1,33,60,663.
Piramal Enterprises: Piramal Enterprises on Wednesday said its net loss widened to ₹1,536 crore during the September quarter from ₹395 crore in the year-ago period. The company said its retail business grew 62% quarter-on-quarter and 8x year-on-year growth in disbursements to ₹3,973 crore while 12 per cent year-on-year growth in the retail loan book. The company said it had a strong balance sheet with equity of ₹27,472 crore.
Bayer CropScience: Bayer Cropscience Ltd on Wednesday posted a 5.51 per cent increase in net profit at ₹162.6 crore in the September quarter. The company had a net profit of ₹154.1 crore in the same quarter previous fiscal, according to a regulatory filing. Total income increased to ₹1,451.9 crore in the second quarter of the current fiscal from ₹1,365.1 crore in the year-ago period.
Pidilite Industries: Pidilite Industries on Wednesday reported a decline of 10.06% in consolidated net profit at ₹337.75 crore for the second quarter of FY23 on account of raw material inflation and high-priced inventory. The company, which manufactures adhesives, sealants and construction chemicals, had logged a profit of ₹375.53 crore in the July-September quarter a year ago.
Lupin: Drug maker Lupin on Wednesday said its consolidated net profit stood at ₹130 crore for the second quarter ended September 30, 2022. The Mumbai-based company had reported a net loss of ₹2,098 crore in the July-September period of the previous fiscal. Total revenue from operations rose to ₹4,145 crore for the period under review as compared to ₹4,091 crore in the year-ago period.
NDTV: Media firm New Delhi Television Ltd (NDTV) on Wednesday reported an increase of 4.4% in consolidated net profit to ₹13.03 crore for the second quarter ended September. The company had posted a net profit of ₹12.48 crore during the July-September quarter a year ago, according to a regulatory filing. NDTV's total income in the September quarter was at ₹107.66 crore, up 9.87%.
