Bharti Airtel, Hindalco Industries, Zee Entertainment in focus

Written by corres2

Bharti Airtel: Moody’s Investors Service has assigned a Baa3 issuer rating to Bharti Airtel. Moody’s has withdrawn the company’s Ba1 corporate family rating (CFR). Moody’s has also upgraded to Baa3 from Ba1 the senior unsecured debt rating on the bonds issued by Bharti as well as on the backed senior unsecured notes issued by Bharti Airtel Int’l (Netherlands) B.V. Moody’s has changed the outlook on the ratings to stable from positive.

Hindalco Industries: The company’s consolidated net profit surged to Rs 3851 crore in Q4 March 2022 from Rs 1928 crore in Q4 March 2021. Revenue from operations rose to Rs 55764 crore from Rs 40507 crore.

Zee Entertainment Enterprises: The company’s consolidated net profit dropped 34% to Rs 1819 crore in Q4 March 2022 from Rs 2758 crore in Q4 March 2021. Operating revenue rose 18.2% to Rs 23229 crore from Rs 19658 crore.

Muthoot Finance: The company’s consolidated net profit fell to Rs 1006.2 crore in Q4 March 2022 from Rs 1023.7 crore in Q4 March 2021. Total income fell to Rs 3041.1 crore from Rs 3118.9 crore.

Berger Paints India: The company’s consolidated net profit rose 5.6% to Rs 220.29 crore in Q4 March 2022 from Rs 208.60 crore in Q4 March 2021. Revenue from operations rose 7.97% to Rs 2187.51 crore from Rs 2026.09 crore.

Union Bank of India: The board of directors considered & approved raising equity capital not exceeding Rs. 3,800 crore, within the overall limit of Rs. 8,100 crore, through Public Issue (i.e. Follow-on Public Offer) and/or Rights Issue and/or Private Placements, including Qualified Institutions Placements and/or Preferential Allotment to the Government of India and/or other institutions and/or through any other mode(s); The bank’s board also approved raising of AT 1 and/or Tier 2 bonds not exceeding Rs. 4,300 crore within the overall Limit of Rs.8,100 crore.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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