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Mid Session

TCS, Tata Steel, Vedanta in focus
(08:42, 11 Jan 2021)

TCS reported 16.4% rise in consolidated net profit to Rs 8,701 crore on a 4.7% increase in revenue to Rs 42,015 crore in Q3 December 2020 (Q3 FY21) over Q2 September 2020 (Q2 FY20). The September quarter net profit had a post-tax one-time impact of Rs 958 crore due to provision for ongoing litigation with EPIC.

Tata Steel India's crude steel production in 3QFY21 remained strong at 4.60 mn tons, registering a 3%YoY growth. Tata Steel India saw strong sales momentum in 3QFY21, however, sales volumes were constrained by lower opening inventory post very strong sales in 2QFY21.

Vedanta said its promoters has made voluntary open offer for the acquisition of up to 371,750,500 equity shares representing 10% of the fully diluted voting share capital of the company from the public shareholders. The offer is made at a price of Rs 160 per equity share.

Avenue Supermarts' consolidated total revenue for the quarter ended 31 December 2020 stood at Rs 7,542 crore, as compared to Rs. 6,809 crore in the same period last year. Earnings before Interest, Tax, Depreciation and Amortization (EBITDA) in Q3FY21 stood at Rs.689 crore, as compared to Rs. 597 crore in the corresponding quarter of last year. Net Profit stood at Rs. 447 crore for Q3FY21, as compared to Rs. 384 crore in the corresponding quarter of last year.

Narayana Hrudayalaya said the company has discontinued its operations of the Heart Centre which was operated in the premises of IQ City Hospital in Durgapur, West Bengal under an Agreement with IQ City Foundation (formerly known as SPS Synergy Foundation).

KEC International has secured new orders of Rs 1,024 crore across its various businesses.

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