ITC Ltd reports 10.09% increase in consolidated net profit
ITC Ltd on Wednesday reported a 10.09 per cent increase in its consolidated net profit to Rs 3,763.73 crore for the second quarter ended in September 2021.
The company had posted a net profit of Rs 3,418.69 crore during the July-September quarter of the previous fiscal, ITC said in a regulatory filing.
Revenue from operations was up 12.14 per cent at Rs 14,662.59 crore during the quarter under review against Rs 13,075.14 crore a year ago.
Total expenses were at Rs 10,258.26 crore up 11.93 per cent in the quarter against Rs 9,164.68 crore of the corresponding period.
Shares of ITC Ltd on Wednesday settled at Rs 238.40 on BSE, up 0.68 per cent from the previous close.
L&T net drops 67%
Larsen & Toubro on Wednesday reported a 67 per cent drop in consolidated net profits for the quarter ended September 30. The conglomerate posted a net profit of Rs 1,819.45 crore compared with Rs 5,520.27 crore in the same period of the previous year.
The numbers were, however, ahead of Street estimates. During the period, revenues rose to Rs 34,772.90 crore from Rs 31,034.74 crore in the year ago period. L&T disclosed that it bagged orders worth Rs 42,140 crore during the quarter which marked a robust growth of 50 per cent over the corresponding period of the previous year.
Bajaj Auto profit up
Bajaj Auto saw its standalone net profits rising by 12 per cent for the quarter ended September 30, 2020. The two wheeler major posted a net profit of Rs 1,274.55 crore against Rs 1,138.20 crore in the corresponding period of the previous fiscal.
Turnover of the company was up by 22 per cent to Rs 9,081 crore from Rs 7,442 crore in the previous year. Bajaj Auto said that the quarter was marked by an increase in raw material costs, which was offset by higher product prices.
Meanwhile, at a board meeting today, the directors of the company approved the incorporation of a captive finance subsidiary (NBFC) to undertake the business of only financing the customers of the products manufactured or marketed by the company and its subsidiaries or associates.