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Earnings: Sonata Software Q2 Profit Jumps 59 Per Cent, Tata Steel BSL Posts Over 5-Fold Jump In Net Profit, More

Sonata Software's revenues grew by 25 per cent year-on-year (YoY) to Rs 360.8 crore and domestic product and services increased by 16 per cent to Rs 605.5 crore.

Earnings: Sonata Software Q2 Profit Jumps 59 Per Cent, Tata Steel BSL Posts Over 5-Fold Jump In Net Profit, More
Earnings: Sonata Software Q2 Profit Jumps 59 Per Cent, Tata Steel BSL Posts Over 5-Fold Jump In Net Profit, More
outlookindia.com
2021-10-20T08:40:04+05:30

IT company Sonata Software on Tuesday posted a 59 per cent jump in consolidated profit to Rs 91.17 crore in the second quarter ended on September 30, 2021.

The company had recorded a profit of Rs 57.2 crore in the same period a year ago.

"Our overall strategy of building digital enterprises by creating platforms through our unique Platformation methodology has continued to drive our growth and differentiate ourselves. We continue to invest in creating a stronger organization with investments, in creating world class competencies aligned to Platformation," Sonata Software managing director and CEO Srikar Reddy said in a statement.

Consolidated revenue from operations of Sonata Software increased by 19.83 per cent to Rs 963.18 crore  during the reported quarter from Rs 803.77 crore in the corresponding quarter of 2020-21.

"We see the demand situation across the board for digital services being very promising with growth in existing accounts and new deal pipeline," Reddy said.

The international IT services revenues of the company grew by 25 per cent year-on-year (YoY) to Rs 360.8 crore and domestic product and services increased by 16 per cent to Rs 605.5 crore.

Profit after tax (PAT) from international services of the company grew by 54 per cent YoY to Rs 67.3 crore and domestic PAT grew by 76 per cent to Rs 23.9 crore.

Tata Steel BSL

Tata Steel BSL on Tuesday reported over a five-fold jump in its consolidated net profit to Rs 1,837.03 crore for the September 2021 quarter, mainly on account of higher income.

In a BSE filing, the company said it had clocked a net profit of Rs 341.71 crore during the corresponding period of the previous financial year 2020-21.

Its total income during July-September 2021 rose to Rs 8,329.68 crore, from Rs 5,545.35 crore in the year-ago period.

The company's expenses stood at Rs 6,492.97 crore, against Rs 5,203.33 crore in the year-ago quarter.

TV18 Broadcast

TV18 Broadcast Ltd on Tuesday reported over twofold increase in consolidated net profit at Rs 231.40 crore for the second quarter ended September 30, 2021.

The company had clocked a net profit of Rs 115.55 crore in the year-ago period, the media firm said in a regulatory filing.

Consolidated revenue from operations was up 29.14 per cent to Rs 1,307.90 crore in the quarter under review as against Rs 1,012.80 crore in the year-ago period.

“Consolidated EBITDA for the quarter grew 53 per cent YoY, operating margin at 18.2 per cent,” the company said in a post earning statement adding that both News and Entertainment businesses further improved profitability.

Total expenses in the quarter were at Rs 1,104 crore, up 21.34 per cent as against Rs 909.82 crore.

JSW lspat Special Products Limited

JSW lspat Special Products Limited on Tuesday said its standalone net loss has narrowed to Rs 36.85 crore during the quarter ended September.

In a BSE filing, the company said it had clocked a loss of Rs 62.06 crore in the same quarter of the preceding 2020-21 fiscal.

The company's total income during the July-September quarter rose to Rs 1,442.34 crore from Rs 957.84 crore in the year-ago period.

The expenses were at Rs 1,479.19 crore as against Rs 1,019.90 crore a year ago.

ICICI Prudential Life Insurance Co Ltd

ICICI Prudential Life Insurance Co Ltd on Tuesday reported nearly 47 per cent jump in its net profit 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 financial year 2020-21.

The total income during July-September 2021 also rose to Rs 23,188 crore, compared with Rs 16,715 crore in the year-ago period, ICICI Pru Life said in a regulatory filing.

As against this, a massive Rs 500-crore net COVID-19 claims left the second-largest private-sector life insurer in the red with a Rs 186-crore net loss in the June 2021 quarter, despite it reporting good all-round numbers, including a 71 per cent growth.

Oriental Hotels Ltd

Oriental Hotels Ltd, an associate company of The Indian Hotels Company Ltd, on Tuesday reported 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 in the July-September period of the previous financial year.

Its revenue from operations stood at Rs 52.34 crore for the period under review as compared to Rs 15.8 crore in the year-ago period, Oriental Hotels said in a regulatory filing.

Network18 Media & Investments Ltd

Network18 Media & Investments Ltd on Tuesday reported nearly threefold jump in consolidated net profit at Rs 199.27 crore for September quarter 2021-22 driven by improved revenue performance, controlled opex and lower finance costs.

The company had posted a net profit of Rs 68.01 crore in July-September period a year ago, the media firm said in a regulatory filing.

Revenue from operations was up 30.76 per cent to Rs 1,387.24 crore during the quarter under review, as against Rs 1,060.89 crore in the year-ago period.

According to Network18, its both news and entertainment businesses further improved profitability.

During the quarter it had a “strong revenue growth driven by viewership” and the “highest ever Q2 revenue (ex-film), grew 29 per cent YoY,” said Network18 in a post earning statement.

Total expenses surged 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 per cent rise in consolidated net profit to Rs 230 crore for the September 2021 quarter and has raised its dollar revenue growth guidance to 19-20 per cent.

The company had registered a net profit of Rs 165.5 crore in the year-ago period, it said in a regulatory filing.

Its revenue grew 22.4 per cent to Rs 1,607.7 crore in the quarter under review from Rs 1,313.8 crore a year ago, it added.

The company has announced a special dividend of Rs 10 per share to mark the five-year anniversary of LTTS' IPO and the record date has been set as October 27, 2021.

LTTS, which has seen attrition spike to 16.5 per cent in the second quarter of the financial year 2021-22, plan to hire 2,000 freshers in the next six months.

On a sequential basis, the net profit was higher by 6.4 per cent from Rs 216.2 crore, while revenue increased 5.9 per cent from Rs 1,518.4 crore in the June 2021 quarter.

(With PTI Inputs)

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