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Dabur Posts 3% YoY Fall in Net Profit in Q2 - Top Indian Market Updates
Dabur Ltd reported a 2.85% year-on-year decline in consolidated net profit for Q2 FY23, while Hero MotoCorp announced plans to enter the Philippines market. Gland Pharma and Ramkrishna Forgings also released their Q2 results, alongside other market-moving updates.
On this page
- Dabur Q2 Results: Net profit falls 2.8% YoY to ₹490 crore
- Hero MotoCorp partners with Terrafirma Motors to enter Philippines market
- Gland Pharma Q2 Results: Net profit falls 20% YoY to ₹241 crore
- Ahluwalia Contracts secures orders worth ₹103 crores
- Century Textiles Q2 Results: Net profit rises 60% YoY to ₹70 crore
- Zydus Lifesciences gets USFDA approval to market generic Micafungin injection
- Tata Power Solar Systems launches off-grid solar solutions in three states
- Ramkrishna Forgings Q2 Results: Net profit rises 27% YoY to ₹64 crore
- ZEEL, Sony agree to sell 3 Hindi channels to address anti-competition concerns
Key takeaways
- Dabur Ltd's consolidated net profit fell 2.85% YoY to ₹490.86 crore in Q2 FY23, despite revenue rising 6% YoY to ₹2,986.49 crore.
- Hero MotoCorp is partnering with Terrafirma Motors Corp to enter the Philippines market, with assembly operations starting in the second half of FY24.
- Gland Pharma Ltd reported a 20.14% YoY decline in consolidated net profit to ₹241.24 crore for Q2 FY23, and its revenue from operations fell 3.33% YoY.
- Ahluwalia Contracts (India) Ltd secured orders worth ₹103 crore, bringing its total order inflow for FY23 to ₹3,114.72 crore.
- Ramkrishna Forgings Ltd saw its net profit rise 27% YoY to ₹64 crore in Q2 FY23, with revenue from operations increasing 31.7% YoY to ₹762.55 crore.
Here are some of the major updates that could move the markets tomorrow:
Dabur Q2 Results: Net profit falls 2.8% YoY to ₹490 crore
Dabur Ltd reported a 2.85% year-on-year (YoY) decline in consolidated net profit to ₹490.86 crore for the quarter ended Sept (Q2 FY23). Its revenue from operations rose 6% YoY to ₹2,986.49 crore during the same period. The company’s total expenses stood at ₹2,471.28 crore in Q2, up 8.94% YoY. Dabur India’s board has declared an interim dividend of ₹2.5 per share.
The FMCG major will acquire a 51% stake in Badshah Masala Pvt. Ltd for ₹587.52 crore. Badshah Masala manufactures, markets, and exports ground spices, blended spices, and seasonings.
Read more here.
Hero MotoCorp partners with Terrafirma Motors to enter Philippines market
Hero MotoCorp announced plans to enter the Philippines, for which it has partnered with Terrafirma Motors Corp (TMC) for the assembly and distribution of its vehicles. TMC will set up an assembly facility of 29,000 sq. metres in its existing principal manufacturing facility in Laguna City. It will start operations in the second half of FY24.
Read more here.
Gland Pharma Q2 Results: Net profit falls 20% YoY to ₹241 crore
Gland Pharma Ltd reported a 20.14% YoY decline in consolidated net profit to ₹241.24 crore for the quarter ended Sept (Q2 FY23). Its revenue from operations fell 3.33% YoY to ₹1,044.4 crore during the same period. The pharma company’s revenue from the Indian market fell 42% YoY to ₹72.6 crore in Q2.
Read more here.
Ahluwalia Contracts secures orders worth ₹103 crores
Ahluwalia Contracts (India) Ltd has secured an order worth ₹60 for construction work of Amity Campus Hyderabad (Telangana) from Ritnand Salved Education Foundations. The company has secured another order worth ₹43 crore for the civil, structural, and external development work of a hospital from Muthoot Hospital Pvt. Ltd. The total order inflow during the current financial year (FY23) stands at ₹3,114.72 crore.
Century Textiles Q2 Results: Net profit rises 60% YoY to ₹70 crore
Century Textiles & Industries Ltd reported a 69.38% YoY increase in consolidated net profit to ₹69.97 crore for the quarter ended Sept (Q2 FY23). Its total income grew 20% YoY to ₹1,242.11 crore during the same period. Total expenses stood at ₹1,125.25 crore in Q2, up 15.75% YoY.
Read more here.
Zydus Lifesciences gets USFDA approval to market generic Micafungin injection
Zydus Lifesciences has received final approval from the US Food & Drug Administration to market its generic Micafungin injection. The drug is also used to prevent fungal infections in patients who are having a stem cell transplant. It will be produced at the pharma company’s injectable manufacturing facility at Jarod, near Vadodara.
Read more here.
Tata Power Solar Systems launches off-grid solar solutions in three states
Tata Power Solar Systems Ltd (TPSSL) announced the launch of cost-efficient solar off-grid solutions in West Bengal, Bihar, and Jharkhand. The off-grid solutions provide a combination of high-efficient solar modules, inverters, and batteries. They are engineered to provide an efficient integrated power system to consumers for their power backup requirements during grid supply shortages.
Read more here.
Ramkrishna Forgings Q2 Results: Net profit rises 27% YoY to ₹64 crore
Ramkrishna Forgings Ltd reported a 27% YoY increase in net profit to ₹64 crore for the quarter ended Sept (Q2 FY23). Its revenue from operations rose 31.7% YoY to ₹762.55 crore during the same period. Overall capacity utilization stood at 82.24% in Q2. The company will raise around ₹100 crore through the preferential issue of convertible warrants. The proceeds will be utilised to reduce debt.
Read more here.
ZEEL, Sony agree to sell 3 Hindi channels to address anti-competition concerns
Zee Entertainment Enterprises Ltd (ZEEL) and Sony India have voluntarily agreed to sell three Hindi channels (Big Magic, Zee Action, and Zee Classic) to address possible anti-competition concerns arising out of their proposed merger. They submitted their merger proposal to the Competition Commission of India (CCI), which cleared the deal subject to certain modifications on Oct. 4. To learn more about the ZEEL-Sony merger, click here.
Read more here.
Frequently asked questions
What was Dabur's net profit in Q2 FY23?
Dabur's consolidated net profit fell 2.85% year-on-year to ₹490.86 crore for the quarter ended Sept (Q2 FY23).
Which company is Hero MotoCorp partnering with to enter the Philippines market?
Hero MotoCorp is partnering with Terrafirma Motors Corp (TMC) to enter the Philippines market.
What was Gland Pharma's net profit in Q2 FY23?
Gland Pharma Ltd reported a 20.14% YoY decline in consolidated net profit to ₹241.24 crore for the quarter ended Sept (Q2 FY23).
What was Century Textiles' net profit in Q2 FY23?
Century Textiles & Industries Ltd reported a 69.38% YoY increase in consolidated net profit to ₹69.97 crore for the quarter ended Sept (Q2 FY23).
Written by
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