The company recorded a massive 48.4 percent year-on-year growth in profit at Rs 207 crore for the quarter ended March 2022, driven by topline as well as operating performance. Revenue from operations rose 19 percent YoY to Rs 1,567.5 crore during the quarter and EBITDA grew by 45 percent in the same period.
The non-banking finance company clocked an 80 percent year-on-year growth in profit at Rs 2,420 crore in Q4FY22 led by strong NII and decline in provisions. Net interest income during the quarter grew by 30 percent to Rs 6,068 crore with assets under management (AUM) rising 29 percent to Rs 1,97,452 crore as of March 2022. Loan losses and provisions for Q4 FY22 at Rs 702 crore declined sharply compared to Rs 1,231 crore in the year-ago period.
API manufacturer Lasa Supergenerics has bagged a new order of Rs 50 crore from five customers. The order will help the company boost its production and contribute to the topline.
The IT services company has decided to acquire US-based Rizing Intermediate Holdings Inc, a global SAP consulting firm, for $540 million. The acquisition will help Wipro expand its leadership in oil and gas, utilities, manufacturing, and consumer industries. The process of buyout is expected to close before the end of the quarter ending June 2022.
AU Small Finance Bank
The bank in a BSE filing said profit in Q4FY22 rose by 105 percent year-on-year to Rs 346 crore on fall in provisions and higher NII. Net interest income grew by 43 percent YoY to Rs 936.6 crore in the quarter ended March 2022 with net interest margin expanding 60 bps YoY to 6.3 percent. The bank declared a bonus issue of one equity share for every one equity share held by shareholders.
Reliance Industries, and Abu Dhabi Chemicals Derivatives Company RSC (TA’ZIZ) have signed the formal Shareholder Agreement for TA’ZIZ EDC and PVC project. The joint venture will construct and operate a chlor-alkali, ethylene dichloride (EDC) and polyvinyl chloride (PVC) production facility, with a total investment of over $2 billion.
The real estate firm has raised Rs 440 crore from Värde Partners, a leading global alternative investment firm. The funds will be deployed for expediting construction and delivery of its projects as well as for expansion.