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<keyword id="46212" type="General" weightage="20" keywordseo="suzlon-energy" source="Orion">Suzlon Energy</keyword> registered a 96% decline in consolidated net profit at ₹101 crore in the April-June quarter. The company had registered a consolidated net profit of ₹2,433 crore in the year-ago quarter, an investors' presentation showed. The company's net revenue in the first quarter of this fiscal also came down to ₹ 1,348 crore from ₹ 1,378 crore in the year-ago period. <keyword id="307072" type="General" weightage="20" keywordseo="girish-tanti" source="Orion">Girish Tanti</keyword>, vice-chairman, Suzlon Group, said in a statement, "With the country poised to lead decarbonisation of its economy, we are seeing renewed enthusiasm from India Inc. to drive this green energy transition." J P Chalasani, chief executive officer, Suzlon Group, said in the statement, "At Suzlon, we continue to show stable and steady growth in line with our business plan. With the fruition of our initiatives to strengthen the balance sheet and reduce debt, our focus is now on ramping up our operations to service our cumulative orders, which stand at a healthy 1,582 MW as on date." Himanshu Mody, chief financial officer, Suzlon Group, said in the statement, "Q1 of FY24 takes forward our consistent efforts to consolidate and stabilise our performance over the last few quarters. Q1 FY24 shows YoY (year-on-year) growth and an improvement in overall profitability with a steady performance on all our key parameters." After a sustained effort to reduce debt in 2022-23, which has resulted in a healthier and sustainable balance sheet for the company, our focus in FY24 remains on funding our operations and fulfilling our commitments to customers and other stakeholders, he said. "We continue to maintain strict control on costs and are in the process of further optimising our organisational structure to drive excellence and continual improvement on the strong foundation set with over the last three years," he added.

Suzlon Energy Q1 consolidated net profit slumps 96% to ₹101 crore

Mining conglomerate <keyword id="19919721" type="General" weightage="20" keywordseo="Vedanta" source="keywords">Vedanta</keyword> Ltd on Tuesday reported 36.5 per cent rise in consolidated net profit at Rs 3,606 crore for June quarter FY25 due to improved margins and robust cost reduction across all operations. The company had posted a net profit of Rs 2,640 crore in the year-ago period. Income rose to Rs 36,698 crore over Rs 34,279 crore in the year-ago period, according to an exchange filing. Vedanta said in a statement that the proposed demerger of its businesses is on track and it has already filed the demerger scheme with NCLT after getting a nod from secured creditors. The company said that its board has approved a capex investment of USD 270 million for its oil and gas business. "The strategic priority for the Cairn Oil &amp; Gas business is to augment reserves and increase near term volume through infill wells and enhanced oil recovery. In order to deliver this, the Board has approved capex investment (net) of USD 270 million across fields in the Rajasthan block for drilling wells and construction of surface facility for ASP ( Alkaline Surfactant Polymer) injection," the company said in a separate filing. Vedanta Executive Director Arun Misra said that the company has delivered a strong start to the year, with exceptional EBITDA improvement of 47 per cent and PAT improvement by 54 per cent year-over-year on the back of improved margins, and robust cost reduction across all operations. "Our aluminium and zinc divisions continue to outperform industry benchmarks, consistently ranking in the top quartiles and deciles of the global cost curve. These achievements are a direct result of our strategic focus on cost, as reflected in a 20 per cent year-over-year reduction in overall cost," he said. The company's growth projects are well on track and it remains committed to commission the majority of these projects in FY25. "Moving ahead, our focus on operational efficiency, sustained expansion, and ESG excellence will guide our journey. With this dedication, we are confident in our ability to create substantial shareholder value in the year ahead," he added. Last month, the mining conglomerate raised Rs 8,500 crore (over USD 1 billion) through Qualified Institutions Placement (QIP) of 19.31 crore equity shares at an issue price of Rs 440 per share. Company's CFO Ajay Goel said, "The overwhelming response to the Vedanta's... QIP...underscores investors' huge confidence. The proceeds from the QIP will be further instrumental in deleveraging the balance sheet and reduction of finance costs. We have received all the requisite approvals and have filed the demerger scheme with the National Company Law Tribunal (NCLT) taking our demerger a step closer to reality." The company's gross debt stood at Rs 78,016 crore as on June 30, 2024. Vedanta Ltd, a subsidiary of Vedanta Resources Ltd, is one of the world's leading natural resources companies spanning across India, South Africa, Namibia, Liberia, the UAE, Korea, Taiwan and Japan with significant operations in oil and gas, zinc, lead, silver, copper, iron ore, steel, nickel, aluminium, power and glass substrate. SEE ALSO:<a href="https://www.businessinsider.in/stock-market/webstories/unicommerce-esolutions-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/112307438.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/webstories/unicommerce-esolutions-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/112307438.cms" target="_blank">Unicommerce eSolutions IPO – Price band to risk factors, all you need to know</a> <a href="https://www.businessinsider.in/business/auto/news/electric-two-wheeler-sales-cross-the-1-lakh-mark-after-four-months-ola-electric-leads-the-market/articleshow/112288793.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/news/electric-two-wheeler-sales-cross-the-1-lakh-mark-after-four-months-ola-electric-leads-the-market/articleshow/112288793.cms" target="_blank">Electric two-wheeler sales cross the 1 lakh mark after four months, Ola Electric leads the market</a> <a href="https://www.businessinsider.in/sports/news/neeraj-chopras-paris-olympics-journey-to-begin-with-qualification-round-today-top-rivals-to-look-out-for/articleshow/112311760.cms">Neeraj Chopra qualifies for finals with a first throw of 89.34m – top rivals to look out for</a>

Vedanta Q1 profit surges 37% to ₹3,606 crore on improved margins

<ul><li>In constant currency terms, <keyword id="13843427" type="General" weightage="20" keywordseo="ltimindtree" source="Orion">LTIMindtree</keyword> posted revenue growth of 8.2% YoY for the June quarter. </li><li>The order inflow continued to increase and reached $1.41 billion in this quarter. </li><li>“Our operational rigor helped us achieve an EBIT of 16.7% and PAT of 13.2%," said Debashis Chatterjee, CEO and MD. </li></ul> Technology consulting and digital solutions company LTIMindtree posted a 4.1% year-on-year rise in net profit to ₹1,152 crore for the first quarter ended June 30. Revenue rose 13.8% to ₹8,702 crore for the period. In constant currency terms, the company’s revenue rose 8.2% YoY for the June quarter. On a quarter-on-quarter basis, however, this revenue was almost flat at 0.1% growth. “Our key verticals BFSI (banking, financial services and insurance), Manufacturing &amp; Resources and Hi-Tech, Media, and Entertainment, which make up 75% of our revenues performed well,” said Debashis Chatterjee, chief executive officer and managing director. “Our strategic programs are bearing fruit and is evident in the upward movement across our client buckets. The order inflow continued to increase and reached $1.41 billion in this quarter,” he added. The company has 723 active clients as of June 30, 2023. During the quarter, $5 million+ clients increased by 18 on a YoY basis, while $10 million+ clients increased by 9 and $50 million+ clients increased by 3. “Our operational rigor helped us achieve an EBIT of 16.7% and PAT of 13.2%," Chatterjee added. EBIT is earnings before interest and taxes, while PAT refers to profit after tax. At the end of the quarter, the company had 82,738 professionals with the trailing 12 month attrition at 17.8%. Among the deals won during the quarter are a deal from one of the largest property &amp; casualty insurance companies in the United States, which has chosen LTIMindtree as a strategic partner for a multi-year application development and maintenance deal. Shares of the company were trading 2.5% lower at ₹5,006 in morning trade on the NSE. Meanwhile, the Nifty50 was up 0.45%.

LTIMindtree Q1 net profit rises 4.1% to ₹1,152 crore, revenue up 14% YoY

New Delhi, Feb 12 () Suzlon Energy on Wednesday reported widening of consolidated net loss to Rs 742.91 crore in December quarter mainly on account of lower revenues. The company had reported a net loss of Rs 40.07 crore in the year-ago period. Total income from operations declined to Rs 672.99 crore in the quarter ended on December 31, 2019, from Rs 1,112.34 crore a year ago, the company said in a filing to the BSE. Consolidated net loss for April-December rose to Rs 1,857.62 crore from Rs 1,242.55 crore in the corresponding period of 2018-19. Its consolidated net loss for 2018-19 stood at Rs 1,537.19 crore. "Our WTG (wind turbine generator) business operations continue to be at a subdued level with nominal allocation of capital as we are working towards a holistic debt resolution with the lenders consortium. Our operation and maintenance services (OMS) business continues to deliver strong profitability and high machine performance for the customers," Suzlon Energy CFO Swapnil Jain said. The forging and foundry business continues to deliver good performance and is currently earning almost 100 per cent of its revenues from external customers, he added. "Liquidity constraints continue to impede our operations, and we continue to focus on cost optimization across the board including cost of goods sold (COGS) and fixed costs. We are diligently working with our lenders towards a holistic debt resolution and fixing the capital structure," Jain said. KKS RUJ

Suzlon Energy reports widening of net loss to Rs 743 cr in Q3

<keyword id="12986909" type="General" weightage="20" keywordseo="hitachi-energy-india-ltd" source="Orion">Hitachi Energy India Ltd</keyword> (HEIL) on Tuesday posted a 79.85% jump in net profit at ₹2.41 crore in the April-June quarter of 2023-24, on account of higher income. It had posted a net profit of ₹ 1.34 crore in the corresponding period of 2022-23, the company said in a regulatory filing. The total income also increased to ₹ 1,043 crore from ₹ 991.32 crore in the year-ago quarter. Expenses soared to ₹ 1,039.62 crore in the first quarter of FY24, as against ₹ 989.21 crore a year ago. In a separate statement, company's MD and CEO N Venu said: "We remain focused on balancing our operational complexity and efficiencies to preserve the growth momentum. "While persistent delays in chips and electronics led to lower revenue in the quarter, sustained operational excellence efforts provide visibility in the near-term." In the quarter ending June 30, 2023, the company received orders worth ₹ 1,147.5 crore, up 6 %year-on-year (y-o-y). Headquartered in Switzerland, Hitachi Energy is a global technology leader that is advancing a sustainable energy future for all. In India Hitachi Energy operates under the legal entity name Hitachi Energy India Limited (formerly known as ABB Power Products and Systems India Limited).

Hitachi Energy India June quarter net profit jumps 80% on higher income

<keyword id="80487" type="COMPANY" weightage="20" keywordseo="walmart">Walmart</keyword>’s acquisition of <keyword id="6354742" type="COMPANY" weightage="20" keywordseo="Flipkart">Flipkart</keyword> is the biggest ever in India, with the US-based retail giant spending <a href="https://economictimes.indiatimes.com/small-biz/startups/newsbuzz/walmart-acquires-flipkart-for-16-bn-worlds-largest-ecommerce-deal/articleshow/64095145.cms">$16 billion</a>. But this buyout isn’t the first big takeover we’ve seen in the country. Here’s a list of some of the biggest mergers and acquisitions India has seen. Following are the top 10 acquisitions that happened in India. <ol><li>FLIPKART- WALMART: Walmart acquired 77% Flipkart for $16 billion, making it the largest acquisition involving an Indian company, in 2018.</li><li>TATA STEEL-CORUS: In 2007, <keyword id="6357147" type="COMPANY" weightage="20" keywordseo="tata-steel">Tata Steel</keyword> took over European steel major Corus for the price of $12.02 billion, making the Indian company, the world’s fifth-largest steel producer. </li><li>VODAFONE-HUTCHISON ESSAR: In 2007, the world’s largest telecom company (at the time) in terms of revenue, <keyword id="15492" type="CITY" weightage="20" keywordseo="Vodafone">Vodafone</keyword>, made an entered the Indian telecom market by acquiring a 52% stake in Hutchison Essar Ltd. Vodafone purchased 52% stake in Hutchisson Essar for about $10 billion. </li><li>HINDALCO-NOVELIS: Hindalco Industries Ltd. is a subsidiary of the Aditya Birla Group and Novelis is a world leader in the production of flat-rolled aluminum products. The <keyword id="929276" type="ORGANIZATION" weightage="20" keywordseo="Hindalco-Company">Hindalco Company</keyword> acquired the Canadian company Novelis for $6 billion, making the combined entity the world’s largest producer in rolled-aluminum.</li><li>RANBAXY-DAIICHI SANKYO: In 2008, Daiichi Sankyo Co. Ltd., signed an agreement to acquire the entire shareholders of Ranbaxy Laboratories Ltd, India. Ranbaxy’s sale to Japan’s Daiichi was priced at $4.5 billion.</li><li>ONGC-IMPERIAL ENERGY: In early 2009, Oil and Natural Gas Corp. Ltd (ONGC) took control of Imperial Energy, a UK Based firm operating in Russia for the price of $1.9 billion. </li><li>MAHINDRA &amp; MAHINDRA-SCHONEWEISS: In 2007, Mahindra &amp; Mahindra acquired 90 percent of Schoneweiss, a leading company in the forging sector in Germany. This consolidated Mahindra’s position in the global market.</li><li>STERLITE-ASARCO: In the year 2009, Sterlite Industries, a part of the <keyword id="147780" type="ORGANIZATION" weightage="20" keywordseo="Vedanta-group">Vedanta Group</keyword>, signed an agreement to acquire the copper mining company Asarco for the price of $2.6 billion. </li><li>TATA MOTORS-JAGUAR LAND ROVER: Tata Motors’ acquisition of luxury car maker Jaguar Land Rover was for the price of $2.3 billion, in 2008.</li><li>SUZLON-REPOWER: Wind Energy premier <keyword id="46212" type="ORGANIZATION" weightage="20" keywordseo="Suzlon-Energy">Suzlon Energy</keyword> acquired RePower for $1.7 billion. Suzlon Energy Limited is a wind turbine supplier based in Pune, India and RePower systems SE (now Senvion SE) is a German wind turbine company founded in 2001, owned by Centerbridge Partners. </li></ol>

Here are the top 10 acquisitions to have happened in India

Once the Rs 4,447 crore (about $568 million) acquisition of <keyword id="12724311" type="General" weightage="20" keywordseo="blinkit" source="Orion">Blinkit</keyword> is closed, <keyword id="830092" type="General" weightage="20" keywordseo="zomato" source="Orion">Zomato</keyword> will experiment with cross leveraging its customers base for Blinkit and vice versa, its Founder and CEO <keyword id="476451" type="General" weightage="20" keywordseo="deepinder-goyal" source="Orion">Deepinder Goyal</keyword> has stressed. Goyal said that in India, super brands will work better than super apps. "Which means that the Blinkit app will continue to operate independently. We will also start working on integrating the delivery fleet back-ends which should drive higher delivery efficiency over time," he said in the letter to shareholders. Tech integrations between the two companies will accelerate the pace of progress at both ends, he added. According to the company, the losses for Blinkit are coming down every month -- from Rs 2,040 million (about $26 million) in January 2022 to Rs 929 million ($12 million) in July. "The losses have come down owing to a) operating leverage and b) improved execution. As the GOV (gross order value) per day per store goes up, losses come down given the high operating leverage in the business," said Zomato CFO Akshant Goyal. The company said that Blinkit has also shut down a number of unviable dark stores, which were not scaling and the team will continue to evaluate non-performing stores. In just six months, the Blinkit business has scaled to 20 per cent of Zomato's food delivery GOV while being present in less than 15 cities. According to Akshant, Zomato took about 45 months since the launch of food delivery to get to the current monthly GOV scale of Blinkit. Deepinder said that there is a misconception that Zomato would have gotten to the same (or perhaps bigger) scale and size had we launched quick commerce organically seven months ago. Akshant added that in Gurugram, Blinkit GOV is 70 per cent of Zomato food delivery GOV (for June). "Quick commerce cuts across a wide range of essential spends including grocery, fruits and vegetables, beauty and personal care, OTC medicines, stationery items, among others. Therefore, we expect the overall customer base, average order value as well as monthly order frequency to be higher than food delivery," he mentioned. With continued solid execution and synergy realisation with Zomato, post the transaction, the Blinkit journey to profitability "should only accelerate", the company noted. Zomato reported Rs 185.7 crore in consolidated loss for the quarter ending June 30, compared to a loss of Rs 359.7 crore in the previous quarter. The consolidated revenue saw 67 per cent increase at Rs 1,413.9 crore from Rs 844.4 crore (same quarter last year), and 16.68 per cent up from Rs 1,211.8 crore in the last reported quarter. SEE ALSO <a class="tout-title-link" href="https://www.businessinsider.in/stock-market/news/markets-on-a-wait-and-watch-mode-as-they-await-cues-from-rbi/articleshow/93290015.cms">Markets on a wait and watch mode as they await cues from RBI</a> <a href="https://www.businessinsider.in/business/auto/news/as-new-cars-get-pricier-pre-owned-bmws-audis-and-porsches-get-more-attractive/articleshow/93275786.cms">As new cars get pricier, pre-owned BMWs, Audis and Porsches get more attractive</a> <a href="https://www.businessinsider.in/business/startups/news/physicswallah-purplle-leadsquared-and-open-were-the-only-for-unicorn-of-last-quarter-in-india/articleshow/93271392.cms">In the funding winter, only four companies turn unicorns in the June quarter</a>

Zomato, Blinkit will cross-leverage each other's customer base soon, says Deepinder Goyal

New Delhi, Apr 15 () Suzlon Energy on Wednesday said it has cancelled the extra ordinary general meeting of its shareholders scheduled to be held during the day in view of the extension of nationwide lockdown till May 3, to contain the spread of coronavirus pandemic. The extra ordinary general meeting (EGM) was originally scheduled to be held on March 24, 2020 and was subsequently postponed to April 7, 2020 and was further postponed and rescheduled to April 15. The EGM "now stands cancelled in light of extension of nationwide lockdown till May 3, 2020 in view of COVID-19 and in light of circulars issued by the Ministry of Corporate Affairs in the matter of conduct of general meetings in the current situation," the company said in a filing to BSE. Suzlon Group is a renewable energy solutions provider with a global presence across 18 countries in Asia, Australia, Europe, Africa and Americas. The Group is comprised of Suzlon Energy Ltd and its subsidiaries. SID DRR

Suzlon Energy cancels shareholders' meet amid extension of lockdown

New Delhi, Nov 20 () Wind-turbine maker Suzlon Energy on Wednesday said the company is working on a resolution plan and lenders have time till January next year to work on a sustainable resolution plan before taking any extreme steps.
 "The company is continuously working on a resolution plan with the lenders and has also submitted a restructuring plan, which envisages segregating total debt into sustainable debt and unsustainable debt," Suzlon Energy said in a filing to BSE in response to a clarification sought by the bourse on a news item.
 The filing further added that "the lenders have already signed inter-creditor agreement and have time till January 2020 to work on a sustainable resolution plan before taking any extreme steps".
 The proposed restructuring is under consideration by the lenders, it added.
 The lenders have appointed process advisors, rating agencies and other professionals for conducting techno economic viability study and ratings.
 The company is also in discussions with the foreign currency convertible bond (FCCB) holders for settlement of the FCCB borrowing, the filing said.
 Suzlon Energy had reported widening of its consolidated net loss to Rs 777.52 crore in the quarter ended September 30, 2019.
 The company had reported a net loss of Rs 625.76 crore in the corresponding quarter last fiscal, Suzlon Energy had said.
 "The Group has continued to incur losses during for the current period, primarily due to lower volumes and finance costs and the negative net worth of the Group is Rs 9,606 crores as at September 30, 2019," the company had said.
 The shares of the company were trading at Rs 2.41, up 0.84 per cent on BSE. SID DRR

Company continuously working on a resolution plan: Suzlon

<ul><li>Bajaj Auto announced its earnings for the first quarter of FY20. </li><li>Bajaj Auto’s profits stood at ₹1126 crores as compared to ₹1115 crores in the same quarter last year. </li><li>Its share price jumped by 4% after it announced earnings.</li></ul>Bajaj Auto’s share price jumped by over 4% as the country’s leading two and three-wheeler maker gave up margin for more market share. The company led by Chief Executive Officer Rajiv Bajaj in the domestic motorcycle segment, has a market share of 18.3% against 16.3% in Q1FY19. Meanwhile, in the sports segment, the company continues to enjoy a market share of nearly half the segment. This came at a cost. Overall margins shrank to 16.1% from 18.3% because automobile demand has been on a downtrend last few months. At a time when the sales for the entire two-wheeler industry fell 9%, Bajaj Auto clocked a 1.6% growth in sales between April and June 2019. Bajaj Auto’s profits stood at ₹1126 crores, just a tad higher than the figure the same time last year. It’s consolidated profit after tax stood at ₹1012 crores, down 2.8% from a year earlier. Its total revenue from operations grew 3.8% to ₹ 7,756 crores. <div type="javascript" title="Custom" contenttype="Image"><cdata><![CDATA[
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You Searched For "suzlon energy q1 results" and got 10 results

Suzlon Energy Q1 consolidated net profit slumps 96% to ₹101 crore

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Vedanta Q1 profit surges 37% to ₹3,606 crore on improved margins

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LTIMindtree Q1 net profit rises 4.1% to ₹1,152 crore, revenue up 14% YoY

BI India Bureau

Suzlon Energy reports widening of net loss to Rs 743 cr in Q3

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Hitachi Energy India June quarter net profit jumps 80% on higher income

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Here are the top 10 acquisitions to have happened in India

BI India Bureau

Zomato, Blinkit will cross-leverage each other's customer base soon, says Deepinder Goyal

IANS

Suzlon Energy cancels shareholders' meet amid extension of lockdown

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Company continuously working on a resolution plan: Suzlon

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