DB Realty Limited has executed a share purchase agreement to sell its entire stake in wholly-owned subsidiary Real Gem Buildtech Private Limited (RGBPL) to Kingmaker Developers Private Limited for approximately Rs 231.42 crores. As per the regulatory filing by DB Realty, the share purchase agreement was signed on November 6, 2023 and the deal is […]
Bengaluru-based business services provider Quess Corp reported robust top-line growth along with significant improvements in profitability. Quess Corp’s total revenue for Q2 FY2024 stood at Rs 4,748 crores, up 11% year-on-year. Profit after tax jumped 79% to Rs 71 crores compared to Rs 40 crores in Q2 FY2023. The company’s headcount increased to 547,000 in […]
Pune-based real estate developer Kolte-Patil Developers Ltd (KPDL) has reported strong operational and financial performance in the second quarter of FY 2023-24 (Q2 FY24), with healthy growth in new sales, collections and revenues compared to the same period last year. In its earnings release, KPDL said it achieved new sales of 0.98 million square feet […]
Kolkata-based battery maker Exide Industries today reported its financial results for the second quarter and first half ended September 30, 2023. The company posted healthy growth in revenues and profits on the back of improved demand across automotive and industrial segments. Exide’s revenue from operations grew by 10% year-on-year to Rs 4,107 crore in Q2 […]
Titan Company Limited, India’s leading consumer lifestyle company and part of the Tata Group, today reported strong second quarter results for the period ended September 30, 2023. The company’s total standalone income grew 21% year-on-year to Rs 10,027 crore in Q2 FY2023-24. Profit before tax (PBT) rose 9% to Rs 1,261 crore from Rs 1,155 […]
Adani Ports and Special Economic Zone Ltd (APSEZ), India’s largest integrated transport utility, has achieved its highest ever monthly cargo throughput by handling 37 million metric tonnes (MMT) of cargo in October 2023. This represents a stellar 48% growth compared to October last year. This is the first time that APSEZ’s portfolio of ports across […]
Ahmedabad-based Cera Sanitaryware Limited, a leading manufacturer of sanitaryware, faucets and wellness products in India, reported steady revenue growth of 11.4% year-on-year to Rs. 4,616 million in Q2 FY24. Profit after tax also increased by 12.2% to Rs. 569 million. Cera Sanitaryware has a wide portfolio of products including tiles, faucets, wellness products like bathtubs […]
Mahindra Finance has signed a strategic co-lending agreement with the State Bank of India (SBI) to provide affordable credit solutions, especially in rural and semi-urban areas. Under the co-lending model, Mahindra Finance will originate and process loans as per the co-lending guidelines. SBI will provide funding of up to 80% of the loan amount, while […]
Leading telecom operator Bharti Airtel today reported its financial results for the second quarter ended September 30, 2023. The company posted healthy growth in revenues, profits and key operating metrics during the quarter. Bharti Airtel reported consolidated revenues of Rs 37,044 crore for Q2 FY2024, up 7.3% from Rs 34,527 crore in the same quarter […]
Pharmaceutical company Ipca Laboratories announced that its formulations manufacturing facility in Pithampur, Madhya Pradesh has passed a quality inspection by the US Food and Drug Administration (USFDA) and received a Voluntary Action Indicated (VAI) status. A VAI status implies that the USFDA found certain non-critical issues at the facility which require remedial action from the […]
Marico Limited, one of India’s leading consumer goods companies, announced its results for the second quarter ended September 30, 2023. The company delivered a fairly resilient performance despite mixed demand trends and a challenging macro environment. Consolidated Revenue from Operations stood at ₹2,476 crore, registering a marginal decline of 1% year-on-year. This was led by […]
Hyderabad-based Suven Life Sciences today announced positive topline results from a Phase 2 clinical trial evaluating its investigational drug samelisant for the treatment of excessive daytime sleepiness (EDS) in adult patients with narcolepsy. The randomized, placebo-controlled study met its primary endpoint, demonstrating that samelisant treatment resulted in a statistically significant and clinically meaningful reduction in […]
Mumbai-based Supreme Industries Limited, one of India’s leading manufacturers of plastic products, has reported robust growth in the second quarter of fiscal 2023-24. According to the company’s press release, Supreme Industries registered a 23% increase in plastic goods sold during Q2 FY24 to 137,763 MT, compared to 111,803 MT in Q2 FY23. Total income grew […]
Strides Pharma Science Ltd (NSE: STAR), a global pharmaceutical company headquartered in Bengaluru, India, reported strong financial results for the second quarter (Q2 FY24) ended September 30, 2023. The company posted quarterly sales of ₹10,264 million, up 10% quarter-on-quarter and 21% year-on-year. This is the sixth consecutive quarter of growth for Strides, leading to an […]
Real estate developer Lodha Group reported its best ever quarterly pre-sales of Rs. 35.3 billion for the second quarter of FY2024, registering a 12% year-on-year growth despite Q2 being traditionally the weakest quarter. The company’s strong performance comes on the back of improving real estate market conditions since the Covid-19 pandemic. Lodha has rebounded strongly […]
Mumbai-based real estate developer Mahindra Lifespace Developers Ltd (MLDL) announced a mixed set of results for the second quarter of fiscal year 2023 on October 27th. The company reported consolidated total income of Rs 25.7 crore, down 65% from Rs 73.8 crore in Q2 FY2022 and 76% lower than Rs 110.1 crore in Q1 FY2023. […]
Dr. Reddy’s Laboratories Ltd (DRL) announced a decent set of numbers for the second quarter of fiscal year 2024, reflecting continued growth momentum for the Indian pharma major and improved numbers from the US. DRL reported total revenues of Rs 68,802 million in Q2 FY24, a growth of 9% over the same quarter last year. […]
Tata Group’s Indian Hotels Company Limited (IHCL), India’s largest hospitality company, announced strong financial results for the second quarter ending September 30th, 2023, marking the sixth consecutive quarter of record performance. IHCL’s revenue grew 18% year-on-year to Rs 1,481 crores, EBITDA jumped 26% to Rs 402 crores with margin expansion of 180 basis points, and […]
Dixon Technologies, India’s largest electronics manufacturing services company, is making a decisive push into laptop and tablet manufacturing to capitalize on the massive market opportunity arising from the government’s increased impetus on domestic electronics production and import curbs on foreign brands. During its recent quarterly earnings call, Dixon Technologies stated that it has filed an […]
Jubilant Foodworks (JFL), which operates Domino’s Pizza and Dunkin’ Donuts chains in India, has seen a sharp 5% decline in its stock price as analysts downgraded the stock after its poor second quarter numbers. The company reported a 4.5% year-on-year (YoY) rise in revenues to Rs 13,448 million, while net profit declined 39.5% YoY to […]
