News Wrap: Q3 Earnings; SEBI Ban; Reliance Industries Ambitious Move Towards Blue Hydrogen; India's Mutual Fund Industry, ABG Shipyard Fraud & More...
February 11, 2022:
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ONGC Q3 Profit Increases 220% YoY To Rs 11,637 Cr; Announces 2nd Dividend
State-owned Oil and Natural Gas Corporation Limited posted a 220% jump in consolidated Profit After Tax (PAT) at Rs 11,637 crore for the quarter ended December 31, 2021, compared with Rs 3,637 crore reported a year ago.
Consolidated revenue in Q3FY22 came in at Rs 1.46 lakh crore, up 45 % from Rs 1.00 lakh crore reported in Q3FY21. Consolidated revenues in Q2FY22 stood at Rs 1.22 lakh crore.
ONGC’s Exploration and Production (E&P) business reported a 67.3% YoY and 17% QoQ jump at Rs 28,408 crore in Q3FY22.
The offshore revenues reflected 65% of the total, while onshore revenues were 35 percent.
Refining and Marketing (R&M) revenues came at Rs 1.29 lakh crore in Q3FY22, up 40.4% from 0.92 lakh crore a year ago.
Revenues from outside India businesses jumped about 50% to 4,520 crore in Q3FY22, compared with Rs 3,018 crore in Q3FY21.
EBITDA (earnings before interest, tax, depreciation and amortization) increased 90% YOY to Rs 21,420 crore against Rs 11,279 a year ago.
The EBITA margins in Q3 improved by 350 bps YoY and 20 bps QoQ to 14.7%.
The net margin in Q3 stood at 8% versus 3.6% a year ago.
The company announced the second interim dividend of Rs 1.75 per equity share of the face value of Rs 5 each i.e. 35% for the current fiscal.
Muthoot Finance Q3 Net Profit Jumps To Rs 1,044 Cr
Muthoot Finance's consolidated net profit jumped 4% year-over-year (YoY) at Rs 1,043.60 crore for the quarter ended December 2021, compared with Rs 1,006.60 crore in the corresponding quarter a year ago.
Total income in Q3FY22 increased 5% to Rs 3,168.10 crore versus Rs 3,016.40 crore in Q3FY21.
Interest income in Q3FY22 jumped 5% YoY to Rs 3,086.70 crore.
Reliance Infrastructure Posts A Loss Of Rs 107 Cr In Q3
Reliance Infrastructure (RInfra) posted a net loss of Rs 106.91 crore for the quarter ended December 31, 2021. In the year-ago quarter, the company posted a profit of Rs 80.08 crore.
Total income from operations increased to Rs 4,281.45 crore against Rs 4,010.59 crore a year ago.
Total expenses in Q3FY22 Rs 4,828 crore ,versus Rs 4,950.69 crore in Q3FY21.
The gross loan assets under management in Q3FY22 was Rs 54,687.60 crore. Of this, the gold loans under management amounted to Rs 54,214.90 crore. The rest of Rs 472.70 crore represented other loans.
Sebi Bans RHFL, Anil Ambani, 3 Others From The Securities Market
Sebi banned Reliance Home Finance Ltd, Anil Ambani and three other individuals, namely Amit Bapna, Ravindra Sudhakar and Pinkesh R Shah, from the securities market for allegedly siphoning off funds from the company.
In an interim order, SEBI asked the individuals not to associate “themselves with any intermediary registered with Sebi, any listed public company or acting directors/ promoters of any public company which intends to raise money from the public till further orders."
The order related to the case of fraud of funds by Reliance Home Finance Ltd (RHFL) has passed against 28 individuals and entities (notices).
More To Know:
Smartphone maker OPPO India conducted a 5G standalone and non-standalone network trial in collaboration with Jio.
Reliance Industries Ltd. aims to become the world's top blue hydrogen marker.
The company will repurpose a $4-billion plant that presently converts petroleum coke into synthesis gas to produce blue hydrogen for $1.2-$1.5 a kilogram.
Total assets under management of India's mutual fund industry will surpass the Rs 90 trillion mark by the end of this decade, according to Christopher Wood, head of global equity strategy at US-based investment bank Jefferies. January data shows the total AUM of the MF industry aggregates to Rs 34.10 trillion.
The chairman emeritus of Bajaj Group, Rahul Bajaj, passed away in Pune at the age of 83.
Fin-plus-ed gaming platform Fantasy Trading League (FTL) raised Rs 2.24 crore in a seed funding round led by Artha Venture Fund (AVF).
ABG Shipyard Limited and its Directors Rishi Agarwal, Santhanam Muthuswamy and Ashwini Kumar have been booked by the Central Bureau of Investigation (CBI) for cheating 28 banks of Rs 22,842 crore.
Novartis’s Indian arm Novartis India (NIL) entered into a sales and distribution agreement with Dr Reddy's Laboratories Limited of its Established Medicines, including Voveran range, the calcium range and Methergine.
SEBI has imposed a ban on NSE from launching any new product for six months. SEBI has also forbidden NSE former MD & CEO Chitra Ramkrishna from associating with any market infrastructure institution - stock exchange, depository, clearing corporations - or any other SEBI-registered entity for three years. Ex-MD & CEO Ravi Narain is banned for two years.
SEBI fined Chitra Ramkrishna and Ravi Narain, and others for breaching securities contract rules in case of the appointment of Anand Subramanian as group operating officer and advisor to MD.
SEBI levied a fine of ₹3 crore on Ms Ramkrishna, ₹2 crore each on Mr Narain and Mr Subramanian and ₹6 lakh on V.R. Narasimhan, the former chief regulatory officer and chief compliance officer.