Adani Green Energy Solutions | The company reported a 38.8% year-on-year (YoY) jump in net profit at ₹515 crore for the second quarter that ended September 30, 2024. In the corresponding quarter of the previous fiscal, Adani Green Energy Solutions posted a net profit of ₹371 crore, the company said in a regulatory filing. The company’s revenue from operations surged 27.6% to ₹3,055 crore against ₹2,220 crore in the corresponding period of the preceding fiscal.

Persistent Systems | Mid-tier IT services company reported a 23.4% year-on-year (YoY) increase in net profit at ₹325 crore for the second quarter that ended September 30, 2024. In the corresponding quarter of the previous fiscal, Persistent Systems posted a net profit of ₹263 crore, the company said in a regulatory filing. The IT firm’s revenue from operations surged 20.1% to ₹2,897 crore against ₹2,412 crore in the year-ago period.

RITES | Engineering firm announced that its previously-awarded project management consultancy (PMC) contract from the Karnataka Mining Environment Restoration Corporation (KMERC) has been converted into a turnkey contract. The project involves the construction of two railway private freight terminals (PFTs) at Dharmapura and Susheel Nagar in Ballari District under the Comprehensive Environment Plan for Mining Impact Zone (CEPMIZ) for KMERC.

Reliance Infrastructure | Anil Ambani’s flagship firm announced plans to establish India’s largest integrated project for the manufacturing of explosives, ammunition, and small arms in Ratnagiri, Maharashtra. The project, promoted by its subsidiary Reliance Defence Ltd, will be developed under the Dhirubhai Ambani Defence City (DADC) in the Watad Industrial Area, spanning 1,000 acres.

Dhanlaxmi Bank | Thrissur-based gold lender announced a proposed rights issue to raise up to ₹300 crores (approximately $36 million) by issuing equity shares to its existing eligible shareholders. The decision was made during a board meeting held on October 22, 2024. This rights issue aims to strengthen the bank’s capital base and is part of a broader strategy to enhance financial stability and support growth initiatives, the company said in an exchange filing.

Mahindra Finance | Non-bank lender reported a 36% growth in its consolidated net for the September quarter at ₹390 crore. The lender had reported a post-tax profit of ₹287 crore in the year-ago period. On a standalone basis, in the September quarter, net jumped 57% to ₹369 crore, but the same was down 25% over the ₹513 crore in the preceding June quarter. The core net interest income grew 19% over the year for the September quarter at ₹1,991 crore, on the back of a 20% growth in gross loan book and the net interest margin remaining stable at 6.5%.

Olectra Greentech | Electric vehicles maker reported a 156.45% year-on-year (YoY) jump in net profit at ₹47.7 crore for the second quarter that ended September 30, 2024. In the corresponding quarter of the previous fiscal, Olectra Greentech posted a net profit of ₹18.6 crore, the company said in a regulatory filing. The EV maker’s revenue from operations leapt 70.5% to ₹523.7 crore against ₹307.2 crore in the year-ago period.

Chennai Petroleum Corporation | The company reported a net loss of ₹633.7 crore for the second quarter that ended September 30, 2024. In the corresponding quarter of the previous fiscal, Chennai Petroleum Corporation posted a net profit of ₹1,195 crore. The company’s revenue from operations fell 27% to ₹12,086.4 crore against ₹16,544.7 crore in the year-ago period. At the operating level, EBITDA loss stood at ₹674.7 crore in the second quarter of this fiscal. The company posted an EBITDA of ₹1,804.5 crore in Q2 of FY24.

GMDC | State-owned company reported a 71.4% rise in consolidated profit at ₹127.86 crore for the quarter ended September 30, 2024. The company had posted a consolidated net profit of ₹74.58 crore in the corresponding quarter of the previous fiscal year. The consolidated revenue from operations in the July-September quarter rose to ₹593.01 crore, over ₹382.74 crore in the year-ago period, GMDC said in a regulatory filing.

Paytm | One97 Communications Ltd said it has received approval from the National Payments Corporation of India (NPCI) to resume onboarding new users on its Unified Payments Interface (UPI) platform. This approval, communicated via a letter dated October 22, 2024, comes after onboarding was halted in compliance with RBI directives earlier in the year.