Yes Bank said that it has received a non-binding expression of interest from investors: "JC Flowers & Co. LLC, Tilden Park Capital Management LP, OHA (UK) LLP and Silver Point Capital". Yes Bank further informed that it will publish its unaudited financial results for the quarter and nine-month period ending December 31, 2019 on or before March 14, 2020. (File Photo: IANS)
Bharti Airtel said its wholly-owned subsidiary Network i2i plans to raise funds up to $250 million (approximately Rs 1,780 crore) through perpetual bonds. This will be in addition to existing securities of $750 million (around Rs 5,343 crore) that the company has raised recently. The company had earlier said that the proceeds from the issue will be utilised for pruning debt of Bharti Airtel. (REUTERS/Rupak De Chowdhuri)
State-owned Indian Railway Catering & Tourism Corporation (IRCTC) registered a healthy 179.66 percent year-on-year growth in Q3FY20 profit, driven by all segments. Profit during the quarter stood at Rs 205.8 crore, up from Rs 73.59 crore in the same period last year. The sequential growth was 106.17 percent.
Hinduja Group flagship Ashok Leyland’s Q3FY20 consolidated net profit declined 86.68 percent to Rs 57.11 crore. Revenue from operations declined to Rs 5,188.84 crore as compared with Rs 7,489.64 crore in the year-ago period.
State-owned NBCC Ltd reported a 41 percent fall in consolidated net profit at Rs 49.53 crore for Q3FY20. Total income declined to Rs 1,979.36 crore in the quarter from Rs 2,488.17 crore in the previous year.
Microfinance lender Satin Creditcare Network reported a 35 percent decline in consolidated net profit at Rs 46.71 crore during Q3FY20. Total income fell to Rs 374.60 crore as against Rs 400.07 crore a year ago. Gross NPAs at an AUM level stood at 3.1 percent as on December 31, 2019, as compared with 3.2 percent as on December 31, 2018.
Torrent Power said its consolidated net profit rose over 76 percent to Rs 420.62 crore in December quarter 2019. Total income was Rs 3,115.48 crore in the quarter as compared to Rs 3,306.83 crore in the year-ago period. The company's board approved interim dividend of Rs 11.60 per equity share on 48,06,16,784 equity shares of Rs 10 each for 2019-20.
General Insurance Corporation of India (GIC Re) said it has received licence from Bank of Russia to commence reinsurance business in Russia. The licence enables the subsidiary to commence transacting domestic and international reinsurance business in Russia based on the capital invested by the Corporation.
Realty firm Godrej Properties said it will challenge the NGT order quashing environmental nod granted to one of its housing project in Bengaluru, saying no construction work has been done in the buffer zone of lake. The National Green Tribunal (NGT) quashed the environmental clearance (EC) granted to a high-rise residential project being built by Godrej in Bengaluru for raising construction in the buffer zone of Kaikondrahalli lake.
Sadbhav Infrastructure Project reported a standalone net loss of Rs 21.5 crore during Q3FY20, mainly on account of fall in income and increased expenses. The company had posted a net profit of Rs 14.1 crore a year ago. Total income fell to Rs 72.5 crore as compared with Rs 101 crore in the year-ago period. Expenses stood at Rs 94 crore as against Rs 64 crore last year.
State-run Power Finance Corporation reported a 12 percent dip in consolidated net profit at Rs 3,386.72 crore in Q3FY20, mainly on account of higher tax outgo and non-receipt of dividend from REC. During April-December, consolidated net profit was at Rs 8,783.55 crore as compared with Rs 9,249.01 crore a year ago. During Q3, total income rose to Rs 15,878.04 crore from Rs 14,050.95 crore a year ago.
Hatsun Agro Product Ltd., a Chennai-based firm, will set up India's largest ice cream manufacturing facility at Sangareddy district of Telangana. "The company will commence commercial operations in October 2020. Hatsun will be setting up its unit with a capital investment of Rs 207 crore and create more than 250 direct and 250 indirect employment opportunities.
Results: BPCL, Nestle, Apollo hospital, GMR Infra, Vodafone Idea, Page Ind, Adani Transmission, Allcargo Logistics, BBTC, Century Plyboards, Deepak Fertilisers, Dhanuka Agritech, Future Retail, Gillette India, Gujarat Mineral Development Corporation