News Today: Ethos: The luxury and premium watch retailer in t | Start Learning
News Today:
Ethos: The luxury and premium watch retailer in the country will make its debut on Dalal Street on Monday. The company's Rs 472.29 crore IPO was open for subscription between May 18-20 as the company sold its shares in the range of Rs 836-878 apiece. It issue was overall subscribed 1.04 times only.
Mahindra & Mahindra: The homegrown auto major reported nearly five-fold jump in standalone profit at Rs 1,192 crore for quarter ended March 31, 2022. The company had posted a profit of Rs 245 crore for the year-ago period.
ONGC: On the back of the best-ever price it earned on crude oil it produces, state-owned bluechip firm reported a record net profit of Rs 40,305 crore in the fiscal year ended March 31. In a statement, ONGC said net profit for the fiscal FY22 soared 258 per cent to Rs 40,305.74 crore from Rs 11,246.44 crore in the previous financial year.
ITC: The diversified consumer products major said it has acquired a 10.07 per cent stake in Blupin Technologies, the company behind direct-to-consumer (D2C) brand, Mylo. The FMCG major in April had announced the acquisition of a 10.07 per cent stake in Blupin Technologies, for up to Rs 39.34 crore.
JSW Steel: The metal major reported a 20 per cent decline in its consolidated net profit to Rs 3,343 crore for the March 2022 quarter, dragged by higher expenses. The company had clocked Rs 4,191 crore net profit in January-March 2020-21.
DLF: The rental arm of the real estate player DCCDL has achieved a 10 per cent growth in its rent income at Rs 3,350 crore during last fiscal year, mainly on the back of recovery of business at its shopping malls. DLF holds bulk of its rent-yielding commercial properties in DLF Cyber City Developers (DCCDL).
Hindustan Copper: The state-run copper miner posted a consolidated net profit of Rs 89 crore for the fourth quarter of the 2021-22 financial year as against a loss of Rs 37 crore in the year-ago period. The revenue from operations during the quarter under review was Rs 545 crore, up from Rs 522 crore in the corresponding period of the previous year.
FSN E-Commerce: The parent company and owner of the Nykaa brand reported a decline of about 57 per cent in its consolidated profit to Rs 7.57 crore for the fourth quarter ended March 2022, mainly account of new investments. The company had registered a profit of Rs 17.9 crore in the same period a year ago.
United Spirits: The Diageo-controlled liquor maker reported a 12.14 per cent decline in consolidated net profit at Rs 178.6 crore for the fourth quarter ended March as margins were impacted by rising inflation. The company had posted a net profit of Rs 203.3 crore in the year-ago period.
Sun TV Network: The television broadcaster reported a 15.92 per cent decline in consolidated profit after tax at Rs 410.17 crore in the fourth quarter ended March 2022. The company had posted a consolidated profit after tax of Rs 487.86 crore in the same quarter previous fiscal.
Glenmark Pharmaceuticals: The drug maker said its consolidated profit after tax declined 26 per cent to Rs 173 crore for the fourth quarter ended March 31, 2022. The company had reported a profit after tax (PAT) of Rs 234 crore in the January-March period of 2020-21 fiscal.
Welspun Corp: The iron and steel products maker said its consolidated net profit fell by 30 per cent to Rs 263.56 crore in the quarter ended March on account of higher expenses. The company had posted a net profit of Rs 372.63 crore in the same period of FY21.
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