Biocon | Biotechnology major reported a 31.3 percent year-on-year jump in net profit at Rs 313.2 crore for the fourth quarter that ended March 31, 2023. Total revenue for the quarter under review stood at Rs 3,773.9 crore, up 56.7 percent against Rs 2,409 crore in the corresponding period of the preceding fiscal. (Read more)

Dixon Technologies | Electronics manufacturing firm reported a 27.7 percent year-on-year jump in consolidated net profit at Rs 80.6 crore for the quarter that ended March 31, 2023. For the quarter under review, the consolidated revenue rose 3.8 percent to Rs 3,065.5. (Read more)

Ashok Leyland | Commercial vehicles maker reported an over five-fold jump in consolidated net profit at Rs 802.71 crore for the quarter ended March 31, 2023, riding on robust sales. The company posted a 33 percent increase in revenues for the quarter under review. (Read more)

Wipro | The IT major has announced expanded partnership with Google Cloud to advance enterprise adoption of generative artificial intelligence (AI).

NMDC | State-owned company posted a 22.3 percent year-on-year increase in consolidated net profit at Rs 2,276.9 crore for the fourth quarter of financial year 2023. For the quarter, the revenue came at Rs 5,851.4 crore, 13.8 percent down from Rs 6,785.3 in the year-ago period. (Read more)

Mahindra CIE Automotive | Mahindra & Mahindra (M&M), plans to sell a 3.2 percent (1.2 crore shares) stake in automotive component supplier Mahindra CIE Automotive Ltd via a block deal, sources said on Tuesday, May 23. The base size of the block deal is Rs 521.2 crore and the offer price band ranges from Rs 430-452.85 per share. The block deal in Mahindra CIE is expected to be at a discount of 5-6 percent to the current market price (CMP).

Shriram Properties | The realty firm has acquired 100 percent development rights in an ongoing project in Chennai, through its wholly-owned subsidiary, Shrivision Elevations. The total saleable area is 1.9 million square feet, with a revenue potential of around Rs 1,200 crore.

Fortis Healthcare | The company on Tuesday said its consolidated net profit increased 59 percent to Rs 138 crore for the March quarter, on the back of strong performance in the hospital business. The healthcare major had reported a net profit of Rs 87 crore in the January-March quarter of the 2021-22 fiscal. Total income rose to Rs 1,656 crore in the fourth quarter over Rs 1,384 crore in the fourth quarter of the 2021-22 fiscal.

SpiceJet | Low-cost airline on Tuesday announced a significant salary increase for its captains. The move comes as the airline aims to reinforce its position as a preferred employer in the competitive aviation market. SpiceJet has implemented a new pay structure that not only includes a substantial raise for captains but also enhanced salaries for trainers, including designated examiners and type rating instructors, as well as first officers.

IRB Infrastructure Developers | The company on Tuesday said its wholly-owned subsidiary Samakhiyali Tollway Pvt Ltd has executed the concession agreement with the National Highway Authority of India (NHAI) for a Rs 2,132 crore road project. The project with a cost outlay of Rs 2,132 crore included the upgradation of the existing four lanes to six lanes of the NH27 stretch of 90.90 km from Samakhiyali to Santalpur in Gujarat on build-operate-transfer (Toll) mode.