Reliance Industries: Reliance Industries reported that its consolidated net profit increased by 29.7% year-on-year to Rs 19,878 crore for the fiscal quarter ended September FY24, with EBITDA increasing 30.2% year-on-year to Rs 44,867 crore and margin growing 390 basis points to 17.5%.
IDFC First Bank: The lender’s profit increased by 35% year-on-year to Rs 751 crore during the July-September quarter of FY24, led by substantial growth in core operating income, which increased by 35%. Net interest income for the quarter climbed by 32% year-on-year to Rs 3,950 crore, with net interest margin increasing by 49 basis points year-on-year to 6.32% in Q2 FY24.
M&M Financial Services: The financial services firm reported a profit of Rs 235 crore for the fiscal quarter ended September FY24, down 47.5% year-on-year due to an increase in financial instrument impairment.
Bharti Airtel: The telecommunications service provider has teamed with Microsoft to provide Indian organizations with calling services via Microsoft Teams through an integration, Airtel IQ. The Mumbai Department of Telecommunications has issued a fine of Rs 1,63,000 for an alleged breach of subscriber verification criteria.
Bharat Petroleum Corporation: The state-owned oil marketing company earned Rs 8,501.2 crore in standalone profit for the quarter ended September FY24, compared to a loss of Rs 304.2 crore in the same period previous year, thanks in part to decreased input prices. During the same time, revenue from operations declined 10.3% to Rs 1,02,986 crore.
Ultratech Cement: The cement company said that the board of directors authorized the third phase of expansion, which would include an expenditure of Rs 13,000 crore to increase capacity by another 21.9 mtpa through a combination of brownfield and greenfield projects.
Blue Dart: The logistics firm recorded a 22% year-on-year drop in consolidated earnings to Rs 73.06 crore for the fiscal quarter ended September FY24. During the same quarter, revenue from operations declined 0.06 percent year on year to Rs 1,324.5 crore.
NTPC: The country’s largest power production business reported a standalone profit of Rs 3,885 crore for the fiscal quarter ending September FY24, up 16.6% from the previous year due to lower tax and fuel expenses. Revenue from operations fell 0.3% to Rs 40,875 crore in Q2 FY24, from Rs 41,015 crore the previous year.
Dr Reddy’s Laboratories: The US Food and Drug Administration (USFDA) finished a routine cGMP (good manufacturing practices) examination at the company’s formulations manufacturing plant (FTO-3) in Bachupally, Hyderabad. The form 483 has been issued by the USFDA with 10 observations.
Bharat Electronics: The state-owned aerospace and military electronics firm reported a profit of Rs 812.3 crore for the fiscal quarter ending September FY24, up 33% from the previous year, owing to greater other income and EBITDA margins.
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