Sonata Software Q2 profit jumps 59 percent, Tata Steel BSL shows more than 5 times net profit, more
Computer company Sonata Software on Tuesday posted a 59% increase in consolidated profit to 91.17 crore rupees in the second quarter ended September 30, 2021.
The company had recorded a profit of Rs 57.2 crore during the same period a year ago.
âOur overall strategy of building digital businesses by building platforms through our unique platform methodology has continued to drive our growth and differentiate us. We continue to invest in building a stronger organization with investments, in building world-class skills aligned with the platform, âSonata Software said Managing Director and CEO Srikar Reddy in a statement.
Consolidated revenue from operations of Sonata Software increased 19.83% to Rs 963.18 crore in the reported quarter, from Rs 803.77 crore in the corresponding quarter of 2020-2021.
âWe see the demand situation across the board for digital services to be very promising with growth in existing accounts and a pipeline of new transactions,â said Reddy.
The company’s international IT services revenue grew 25% year-over-year (YoY) to Rs 360.8 crore and domestic products and services increased 16% to Rs 605.5 crore.
The company’s after-tax profit (PAT) from international services increased 54% year-on-year to Rs 67.3 crore and the national PAT increased 76% to Rs 23.9 crore.
Tata Steel BSL
Tata Steel BSL said on Tuesday it had increased its consolidated net profit fivefold to Rs 1,837.03 crore for the September 2021 quarter, mainly due to higher revenues.
In an BSE file, the company said it made a net profit of Rs 341.71 crore in the corresponding period of the previous fiscal year 2020-21.
His total income from July to September 2021 rose to Rs 8,329.68 crore, up from Rs 5,545.35 crore a year ago.
The company’s expenses stood at Rs 6,492.97 crore, compared to Rs 5,203.33 crore in the quarter last year.
TV18 Broadcast Ltd on Tuesday announced a double increase in its consolidated net profit to Rs 231.40 crore for the second quarter ended September 30, 2021.
The company had recorded a net profit of 115.55 crore rupees during the period last year, the media company said in a regulatory filing.
Consolidated revenue from operations increased 29.14 percent to Rs 1,307.90 crore in the quarter under review from Rs 1,012.80 crore a year ago.
“Consolidated EBITDA for the quarter increased 53% year-on-year, operating margin by 18.2%,” the company said in a post-earnings statement, adding that the information and entertainment business further improved their profitability.
Total expenses for the quarter were Rs 1,104 crore, up 21.34% from Rs 909.82 crore.
JSW lspat Special Products Limited
JSW lspat Special Products Limited said on Tuesday its stand-alone net loss had narrowed to Rs 36.85 crore in the quarter ended in September.
In a BSE filing, the company said it recorded a loss of Rs 62.06 crore in the same quarter of the previous fiscal year 2020-21.
The company’s total income in the July-September quarter rose to Rs 1,442.34 crore from Rs 957.84 crore in the period of the previous year.
Expenses were Rs 1,479.19 crore compared to Rs 1,019.90 crore a year ago.
ICICI Prudential Life Insurance Co Ltd
ICICI Prudential Life Insurance Co Ltd on Tuesday announced a nearly 47% increase in net income to Rs 445 crore for the second quarter ended September 30.
The company had posted a net profit of Rs 303 crore in the corresponding quarter of the previous fiscal year 2020-21.
Total income from July to September 2021 also rose to Rs 23,188 crore, from Rs 16,715 crore a year ago, ICICI Pru Life said in a regulatory filing.
In contrast, massive net COVID-19 claims of Rs 500 crore left the second-largest private sector life insurer in the red with a net loss of Rs 186 crore in the June 2021 quarter, although he reported good overall numbers, including growth of 71 percent.
Oriental Hotels LtÃ©e
Oriental Hotels Ltd, an associate of The Indian Hotels Company Ltd, on Tuesday announced a consolidated net loss of Rs 4.83 crore for the second quarter ended September 30, 2021.
The company had reported a net loss of Rs 17.88 crore during the July-September period of the previous fiscal year.
Its operating income amounted to Rs 52.34 crore for the period under review, up from Rs 15.8 crore in the period last year, Oriental Hotels said in a regulatory filing.
Network18 Media & Investments Ltd
Network18 Media & Investments Ltd on Tuesday announced a nearly three-fold jump in its consolidated net profit to Rs 199.27 crore for the September 2021-2022 quarter, thanks to improved revenues, control of operating expenses and lower financial costs.
The company posted a net profit of Rs 68.01 crore between July and September a year ago, the media company said in a regulatory filing.
Operating income increased 30.76% to Rs 1,387.24 crore in the quarter under review from Rs 1,060.89 crore a year ago.
According to Network18, its information and entertainment business further improved its profitability.
During the quarter it saw “strong revenue growth driven by viewership” and “highest revenue on record in second quarter (excluding film) grew 29% year-on-year,” Network18 said. in a post-compensation press release.
Total spending jumped to Rs 1,189.04 crore from Rs 976.90 crore.
Larsen & Toubro Technology Services (LTTS)
Larsen & Toubro Technology Services (LTTS) on Tuesday posted a 39.1% increase in its consolidated net profit to Rs 230 crore for the September 2021 quarter and raised its forecast for dollar revenue growth to 19-20%.
The company had recorded a net profit of Rs 165.5 crore over the period last year, she said in a regulatory filing.
Its revenue rose 22.4% to Rs 1,607.7 crore in the quarter under review from Rs 1,313.8 crore a year ago, he added.
The company has announced a special dividend of 10 rupees per share to mark the fifth anniversary of LTTS ‘IPO and the registration date has been set for October 27, 2021.
LTTS, which peaked at 16.5% attrition in the second quarter of fiscal year 2021-22, plans to hire 2,000 newcomers over the next six months.
On a sequential basis, net profit increased 6.4% from Rs 216.2 crore while revenue increased 5.9% from Rs 1,518.4 crore in June quarter 2021.
(With PTI inputs)