India Markets open in 2 hrs 26 mins

Crisil reports marginal fall in Q2 net profit to Rs 248.6 cr

Crisil reports marginal fall in Q2 net profit to Rs 248.6 cr Mumbai, Nov 8 (PTI) Leading credit rating agencyCrisil on Friday reported a marginal reduction in the post taxnet for the September quarter at Rs 248.6 crore as against Rs249.4 crore in the year-ago period.

The city-headquartered company said its profitabilitywas impacted because of adverse foreign exchange movement.

Its consolidated total income for the quarter endedSeptember 30, was Rs 479.4 crore as compared to Rs 454.2 crorein the year-ago period.

'Our focus continues to be on growing the corebusiness through strong emphasis on quality, and by deepeningpresence across client segments,' its chief executive andmanaging director Ashu Suyash said.

*****************Capacit'e Infraprojects Q2 net up 72.8% to Rs 39.8 cr *Engineering firm Capacit'e Infraprojects on Fridayreported 72.8 per cent increase in net profit for the quarterended September 30 at Rs 39.8 crore on the back of decline intax expenses on the back of adoption of new tax regime.

The company had reported a net profit of Rs 23 crorein the corresponding quarter last fiscal.

Its total income for the period under review declinedby 9.1 per cent to Rs 413.5 crore as against Rs 454.8 crore inQ2 FY2019 impacted due to the heavy rainfall in Mumbairesulting into a loss of 29 days of execution during thequarter.

*************************Infrastructure EPC Q2 net profit up 42% *Infrastructure EPC firm on Friday reported a 42 percent increase in net profit for the quarter ended September 30at Rs 139 crore as against Rs 98 crore in Q2 FY2019.

The company had reported a revenue of Rs 2,809 crorein Q2 FY2020 as against Rs 2,408 crore, registering a growthof 17 per cent.

'We are very pleased with the growth in both revenueand profitability, amidst a challenging environment. Ourcore T&D business has delivered a stellar performance, backedby robust execution in SAARC and the Americas. The railwaybusiness continues its growth momentum as it expands portfolioin other segments,' company's managing director and CEO VimalKejriwal said.

********************Solar Industries clocks 57.5% jump in net profit *Industrial explosives manufacturer Solar Industrieshas reported a 57.5 per cent increase in consolidated netprofit for the quarter ended September 30 at Rs 86.61 crore onthe back of reduction in tax expenses.

The company had reported a net profit of Rs 54.98crore in the corresponding quarter last fiscal.

Its consolidated income for the period decreased to Rs506.56 crore as against Rs 520.86 crore in Q2 FY2019.

The company's tax expenses reduced to Rs 9 crore asagainst Rs 28.26 crore in Q2 FY2019.

********************Tata steel to deploy 40 EVs for employees in Jamshedpur *Tata Steel on Friday said it has partnered with TataMotors for deploying 40 Tigor electric vehicles in staggeredfashion by FY22 for employee commuting at the former'sfacility in Jamshedpur.

A batch of nine Tigor EVs have already been handedover to Tata Steel, the company said in a statement. PTI PSKAAAP AP