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LIC, ZEE, Bhel, Thermax in focus
(09:01, 14 Nov 2022)

Life Insurance Corporation of India (LIC): The life insurance company reported net premium of Rs 1.32 lakh crore for the quarter ended September FY23 as compared to net premium of Rs 1.04 lakh crore for the quarter ended September FY22. The net profit for the quarter jumped to Rs 15,952 crore from Rs 1,434 crore last year. The company's other income stood at Rs 6,795 crore as against Rs 46 crore a year back for the quarter, including refund of income tax.

Zee Entertainment Enterprises (ZEE): ZEE reported consolidated net profit of Rs 112.8 crore in Q2 FY23 as against a net profit of Rs 266.1 crore in Q2 FY22. Total income increased to Rs 2046 crore in Q2 FY23 from Rs 2010.47 crore posted in Q2 FY22.

Bharat Heavy Electricals (Bhel): Bhel reported consolidated net profit of Rs 12.10 crore in Q2 FY23 as against a net loss of Rs 45.98 crore in Q2 FY22. Revenue from operations increased marginally to Rs 4,927.95 crore in Q2 FY23 from Rs 4,910.62 crore posted in Q2 FY22.

Glenmark Pharmaceuticals: The company reported 1.4% rise in consolidated net profit to Rs 278.7 crore in Q2 FY23 as against a net profit of Rs 274.8 crore in Q2 FY22. Revenue from operations increased by 7.2% to Rs 3375.2 crore in Q2 FY23 from Rs 3147.4 crore posted in Q2 FY22.

Thermax: Thermax reported 24% rise in consolidated net profit to Rs 109 crore on a 41% increase in operating revenue to Rs 2,075 crore in Q2 FY23 over Q2 FY22.

Strides Pharma Science: The drug maker said its biologics arm received a positive recommendation from European Medicines Agency (EMA) granting market authorization for Kauliv. Kauliv is a biosimilar to Forsteo (innovator product), indicated for both men and postmenopausal women with osteoporosis who are at high risk for having broken bones or fractures.

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