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ICICI Bank reported net profit of Rs 4,403 crore in Q4-2021, up 260.61% compared with net profit of Rs 1,221 crore in Q4-2020. Total income during the quarter increased by 2.2% year-on-year (YoY) to Rs 23,953.02 crore. Provisions (excluding provision for tax) were Rs 2,883 crore in Q4-2021 compared to Rs 5,967 crore in Q4-2020. Provision coverage ratio was 77.7% at 31 March 2021. HCL Technologies reported 25.6% drop in consolidated net profit to Rs 2,962 crore on 1.8% rise in revenues to Rs 19,642 crore in Q4 FY21 over Q3 FY21. The IT firm's consolidated net profit declined 6.1% while revenues jumped 5.7% in Q4 FY21 over Q4 FY20. With respect to FY22 guidance, the company expects revenue to grow in double digits in constant currency for FY'22. It expects EBIT margin to be between 19% and 21% for FY'22. ONGC said the company's board has appointed Subhash Kumar, director (finance), as chief executive officer (CEO) of the company. Mahindra & Mahindra Financial Services (M&M Finance) reported 8.4% decline in consolidated net profit to Rs 218.84 crore on 3% fall in total income to Rs 3038.37 crore in Q4 March 2021 over Q4 March 2020. Indiabulls Real Estate posted a consolidated net profit of Rs 94.42 crore in Q4 March 2021 as against net loss of Rs 109.79 crore in Q4 March 2020.Net sales for Q4 March 2021 zoomed 529% year-on-year to Rs 731.73 crore. On a consolidated basis, GNA Axles' net profit surged 497% to Rs 27.63 crore in Q4 FY21 as against a net profit of Rs 4.63 crore in Q4 FY20. Net sales during the quarter increased 71.6% year-on-year (YoY) to Rs 310.12 crore. Ramco Systems announced that it has established a wholly-owned subsidiary in Japan to carry on the business operations in the region. Shares of Hathway Cable & Datacom will be in focus. Jio Content Distribution Holdings, Jio Internet Distribution Holdings and Jio Cable and Broadband Holdings, part of the promoter & promoter group, propose to sell 11.61% stake in Hathway Cable & Datacom. The floor price for the OFS is Rs 21.50 per equity share. The OFS will open on 26 April 2021 (T day) for non-retail investors and on 27 April 2021 (T+1 day) for retail investors and for non-retail investors who choose to carry forward their un-allocated bids from T day. Hester Biosciences will produce research-based herbal products for poultry, cattle, sheep, goat and swine. Wendt (India) reported a net profit of Rs 5.97 crore in Q4 FY21 as against net loss of Rs 1.09 crore in Q4 FY20. Net sales during the quarter surged 83% year-on-year (YoY) to Rs 40.59 crore. Ramkrishna Forgings announced that it has started commercial production of 7000T press from its Plant-V, situated in Jamshedpur, with effect from 22 April 2021. Powered by Capital Market - Live News
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