Top headlines: Adani Ports Q1 net jumps 77%; Airtel Q1 net drops 63% qoq

Business Standard brings you the top headlines on Tuesday

Adani Ports Q1 net jumps 77%; achieves highest ever quarterly volume growth

Adani Ports and Special Economic Zone Limited (APSEZ), a part of the diversified Adani Group, on Tuesday reported 77 per cent jump in net profit for the April-June quarter of FY22 on the back of higher cargo volumes and rising market share.

The company reported Q1 FY22 net profit of Rs 1,342 crore as compared to Rs 758 crore in the year ago period. Read more

Airtel Q1 net profit more than halves to Rs 283 cr; ARPU at Rs 146

Telecom major Bharti Airtel's earnings were under pressure in the first quarter, missing Street estimates and its average revenue per user muted as coronavirus-led disruptions weakened subscriber additions.

Profit for the April-June period declined 63 per cent to Rs 283 crore when compared with Rs 759 crore in the last quarter of previous financial year (Q4FY21). Read more

Nykaa IPO: First profitable unicorn, led by women, to tap public markets

India’s first women led profitable unicorn startup is going in for its initial public offering. Nykaa, the online beauty aggregator is looking to raise Rs 525 crore via fresh equity issuance. According to media reports the company intends to raise a total of Rs 4,000 crore.

According to the company’s draft red herring proposal (DRHP) filed with Sebi, both promoters and investors will make partial exit through offer of sale of shares up to 43.1 million. Read more

PM to invite Olympic contingent to Red Fort as special guests on Aug 15

Prime Minister Narendra Modi will invite India's Olympic contingent to the Red Fort as special guests on August 15 when he will deliver his eighth straight independence day speech.

Official sources said Modi will also invite them to his residence for interaction. Read more