Archives January 2024

Chennai, India  January 30th,  2024: LatentView Analytics Limited (BSE: 543398, NSE: LATENTVIEW), a global data analytics, consulting, and solutions firm, today announced its financial results for the third quarter and nine months of FY24 ended on December 31, 2023.

Commenting on the Q3FY24 results, Rajan Sethuraman, Chief Executive Officer, LatentView Analytics, said,

“We are glad to report another quarter of healthy growth and are particularly proud to cross the significant milestone of this being the first-ever quarter to achieve $20M+ in revenue. We are thankful for the ongoing trust and support from our clients, which has led to our sustained growth. In Q3FY24, our revenue witnessed a sequential growth of 6.4% and 14.0% on a YoY basis, primarily driven by higher revenue from existing clients. We continue to see robust momentum for our value-led offerings across geographies. We remain committed to proactively delivering strategic business outcomes through our value-proposition led and domain-focused approach.”

Rajan Venkatesan, Chief Financial Officer, LatentView Analytics, said,

“For Q3FY24, we reported an operating revenue of ₹1,657 million and, despite the challenging macro-economic environment, were able to improve EBITDA margin to 22.2%, up 242 bps during the quarter. Margin expansion was driven by operational efficiency and operating leverage kicking in. On the strength of the core business and the continued momentum expected in the coming quarters, we will continue to invest for growth. Cash and Investments (excluding proceeds from the IPO) as of December 31, 2023, stood at ₹ 10,520 million.

Entwining purpose with progress, Experion Technologies, one of the world’s leading Product Engineering and Digital Transformation services company headquartered in Kerala, has announced the launch ofthe ‘Experion Foundation’, an initiative dedicated towards improving the lives of the underprivileged through various compassionate contributions and support.

Throughout its 17 years of journey, the company has undertaken various initiatives aimed at creating tangible and positive changes. This includes engaging actively in the provision of fundamental school necessities like providing backpacks, umbrellas, and stationery to students, particularly in tribal regions, as the academic year unfolds.

This year, in a bid to combat the growing public health crisis of Chronic Kidney Disease (CKD) in Kerala, Experion Foundation, as part of its inaugural endeavours, is providing Dialysis Machines to charitable hospitals in remote locations. CKD has emerged as a significant health challenge in India, exacerbated by prevalent conditions such as diabetes mellitus and systemic hypertension. The dearth of adequate dialysis centres has led to a tragic loss of lives, prompting Experion Foundation to take proactive measures to alleviate this pressing issue. Experion Foundation is set to make a meaningful impact by providing Dialysis Machines to two charitable hospitals- Eldho Mor Baselious Dialysis Centre, Allapra, Perumbavoor, Ernakulam and Aravinda Hospitals, Ponkunnam, Kottayam. The units will be distributed on January 31, 2024, with a proactive aim to make a meaningful impact on the lives of those affected by CKD, providing them with the essential care they need.

30th January 2024 Adani Energy Solutions Limited (“AESL”), part of the globally diversified Adani portfolio and the largest private transmission and distribution company in India with a growing smart metering portfolio, today announced its financial and operational performance for the quarter ended December 31, 2023.

“Our growing portfolio with newly commissioned lines, coupled with favorable energy demand, continues to drive our growth. We are proud of our contribution to developing national transmission infrastructure, which is very critical to facilitate renewable evacuation, especially from the Khavda region. With humility, we welcomed the prestigious Global recognition in the form of Sustainability Leadership Award 2023 from the World Sustainability Congress, demonstrating our outstanding leadership, commitment to reduce environmental impact, and dedication to promote sustainable practices,” said Anil Sardana, MD, Adani Energy Solutions.

“We are very excited about opportunities in all lines of business in AESL. The smart metering segment is consistently growing besides our existing T and D established industry position. To offer smart and tech enabled smart metering solutions, our partnership with Airtel, Esyasoft, AdaniConnex will be very fruitful and will immensely augment our offering,” said Kandarp Patel, CEO, Adani Energy Solutions.

Q3 FY24 Highlights:

Consolidated Financial Performance                                                                                      (Rs crore)

(Note: Total EBITDA = Operating EBITDA plus other income, one-time regulatory income, adjusted for CSR exp.; Cash profit calculated as PAT + Depreciation + Deferred Tax + MTM option loss;) #Includes one-time regulatory income of Rs 240 crores (Rs 198 crores net-off tax); ^Includes a miscellaneous income of Rs 136 crore on account of the $ 120 million bond buy-back

Revenue:  Revenues witnessed a double-digit growth of 19% on account of the newly commissioned transmission projects and higher energy consumption in the distribution business.

• Key transmission projects that made progress and were commissioned in Q3:

ü  The 765 KV KBTL (Khavda Bhuj line), with 217 circuit kilometers got charged during the quarter. This line, once fully commissioned, will help evacuate about 3 GW of renewable energy from Khavda, Gujarat. The project will help shape one of the country’s largest solar and wind farms.

ü   Commissioned 400 KV Kharghar-Vikhroli double circuit transmission line, establishing the first-ever high voltage 400 KV connection in Mumbai. This will enable an additional 1,000 MW power to be brought into Mumbai, thus meeting the city’s fast growing electricity demand.

• Robust system availability of 99.7% in the transmission business.
• AEML, the Mumbai distribution business witnessed an increase in the energy consumed by 14.8%. It saw one of the lowest distribution losses of 5.46% and added new consumers, reaching 3.16 million on the back of reliable and affordable power supply.

EBITDA:

• The operational EBITDA increased by 10.4% to Rs 1,454 crore for the quarter, with incremental revenue contribution from Warora-Kurnool, Karur, Kharghar-Vikhroli and MP-II lines and continuous EBITDA growth with expansion in the asset base in AEML. The transmission business continues to maintain the industry leading EBITDA margin of 92%.
• The total EBITDA of Rs 1,732 crore includes a miscellaneous income of Rs 136 crore on account of the $ 120 million bond buy-back at a discount in the Mumbai distribution business.

PAT: Comparable PAT of Rs 281 crore was 1% higher, supported by miscellaneous income of Rs 136 crore and lower finance cost in AEML. The comparable PAT in Distribution increased by 100%

Segment-wise Financial Highlights                                                                                                                      (Rs crore)

Segment-wise Key Operational Highlights:

Transmission:

• On operational parameters, it was a strong quarter with an average system availability of over 99.7%.
• The business added 302 circuit kilometers during the quarter and ended with a transmission network of 20,422 circuit kilometers.

Distribution business (AEML):

• Sold 2,489 million units vs. 2,169 million units last year on account of an uptick in energy demand primarily driven by higher industrial share.
• Distribution loss has been improving consistently and stands at 5.46% in Q3FY24 and maintained supply reliability at over 99.9%.

Segment-wise Progress and Outlook:

Transmission:

• Robust under-construction transmission pipeline worth Rs. 17,000 crores is well on track from the execution point of view.
• The company is on track to commission the MP-II package (partial), the Khavda-Bhuj (partial), and the WRSR lines in the coming quarters.
• The near term (12-24 months), tendering pipeline for the industry is buoyant and upwards of Rs. 1.10 lakh crore under various stages of bidding.

Distribution:

• The distribution business continues to show a steady performance with double digit growth and consistently increasing RAB (regulatory asset base), supported by internal accruals. Total RAB for the distribution business has now reached Rs. 7,823 crores from Rs. 5,532 crores at the time of acquisition in 2018.
• AESL is exploring several areas and have applied for parallel distribution license in several geographies like Navi Mumbai in Maharashtra, Greater Noida (Gautam Buddha Nagar) in UP, and Mundra subdistrict in Gujarat.
• AEML, on a YTD basis, did capital expenditure of over Rs. 800 crores and reduced its long-term debt by Rs 855 crores through a bond buyback program.

Smart Meters:

• The new business segment is evolving well and will become sizeable in terms of contribution to AESL’s overall growth and profitability. It offers strong synergies to the distribution business.
• During the quarter, AESL received LOA (letter of award) for Phase-2 smart metering contracts from Andhra Pradesh discoms and a new contract from the Uttarakhand discom. Total contracts awarded in Q3 aggregate to 2 million smart meters with a contract value of ~Rs. 2,300 crores.
• The under-implementation pipeline now stands at 21.1 million smart meters, comprising nine projects with a contract value of over Rs. 25,000 crores.
• The untapped market comprises 135 million smart meters, as the government’s official target is 250 million by 2026.

ESG Updates:

• Adani Electricity Mumbai successfully increased its renewable energy share in the overall electricity mix to an impressive 35%. AESL being the largest distributor in Mumbai, this achievement now positions the city as one of the world’s highest procurers of renewable power (solar and wind) in the total mix, surpassing major global megacities. The share was only 3% in FY21. This noteworthy accomplishment underscores Adani Electricity Mumbai’s commitment to sustainability and decarbonization of the grid. AESL remains committed to its target of 60% renewable share by FY27.
• AESL won the Global Sustainability Leadership Award 2023 from the World Sustainability Congress for outstanding leadership, commitment to reducing environmental impact, and dedication to promoting sustainable practices.
• AESL won the prestigious Golden Peacock Award in Environment Management (GPEMA). This underscores the company’s commitment to sustainable practices.

Achievements and Awards:

• AEML received the Confederation of Indian Industry 2023 DX Award in the Best Practices category as the Most Innovative Company for its unwavering commitment to innovation and excellence.
• Received “Excellence in Procurement Innovation” and “Outstanding Leader in Procurement” award at the 8^th ISM-India Conference & CPO Awards 2023.
• Awarded “Excellence in Road Safety” and “Excellence in Innovation in Safety Technology” at the OSH India Awards.
• “Platinum Award” for Occupational Health and Safety under the 8^th Apex India Occupational Health and Safety Award 2023 by Apex India Foundation.
• Adani Electricity Mumbai made history on November 12, 2023, during the festival of Diwali by powering the city of Mumbai with 100 percent renewable electricity for four hours.

Mumbai, 30th January 2024: Bharat Petroleum Corporation Limited (BPCL), a leading player in the oil and gas sector, has reported its highest-ever net profit of Rs. 22,449.32 Crores for the nine months ending December 2023. This significant achievement marks a turnaround from the corresponding nine months of FY 22-23, when the company reported a loss of Rs. 4,607.64 Crores.

The net profit for the third quarter of FY 23-24 stood at Rs. 3,397.27 Crores, reflecting a substantial growth compared to the profit of Rs. 1,959.58 Crores in FY 22-23.

Major highlights of the financial results are given below –

§ Company’s Gross Refining Margins (GRM) for the period Apr – Dec 2023 was $14.72/bbl Vs $20.08/bbl in the corresponding comparative period before factoring the impact of Special Additional Excise Duty and Road & Infrastructure Cess

§ EBITDA for the nine months of FY 23-24 reached Rs. 36,887.35 Crores, showcasing a robust increase from Rs. 1,253.93 Crores in the nine months of FY 22-23. The EBITDA margin was at 9.84% in nine months FY 23-24, compared to 0.31% in the corresponding period of FY 22-23.

§ EBITDA for Q3 FY 23-24 is Rs. 6,906.37 Crores Vs Rs. 4,685.82 Crores in Q3 FY 22-23; EBITDA margin was at 5.31% in Q3 FY 23-24 Vs 3.51% in Q3 FY 22-23.

§ Debt-Equity ratio at gross borrowing level as on December 31, 2023, was at 0.23x (as against 0.88x as on 31st December 2022)

§ Net profit for the third quarter stood at Rs 3,397.27 Crores.

Physical Performance

§ The throughput for the current quarter was 9.86 MMT, showing an increase from 9.39 MMT in Q3 FY 22-23. Market sales grew by 0.86%, reaching 12.92 MMT in Q3 FY 23-24 from 12.81 MMT in Q3 of FY 22-23.

§ During Apr to Dec’23, the throughput was 29.57 MMT Vs 27.90 MMT in the comparative period. The market sales for the period Apr to Dec’23 has increased to 37.86 MMT from 36.01 MMT in the comparative period (Growth of 5.14%)

§ The average ethanol blending percentage achieved during Apr to Dec 23 was 11.53%.

§ BPCL expanded its retail network by adding 501 new fuel stations, bringing the total network strength to 21,532.

§ A total of 112 CNG stations were commissioned during Apr to Dec 23, contributing to a total of 1,711 CNG stations as of December 31, 2023.

Q3 FY24 FINANCIAL HIGHLIGHTS

                                                                                                                               (Rs. Crs)

Nine Months FY24 FINANCIAL HIGHLIGHTS

                            (Rs. Crs)

 Shri G. Krishnakumar, C&MD, BPCL commented upon the company’s outstanding financial and operational performance. “BPCL has delivered another quarter of resilient performance with strong operating fundamentals amidst a challenging operating environment. Our focus remains on driving competitive volume growth and achieving operational excellence, whilst stepping up investment towards our long-term strategic priorities.

 We are enthused to have recorded our highest-ever nine-month profits of Rs. 22,449.32 Crores as compared to loss of Rs. 4,607.64 Crores in the corresponding nine months of FY 22-23. The improved market sales and refinery thru’put in Q3 2023-24 as compared to Q3 2022-23 has resulted in increased profits for Q3 2023-24”.

CHENNAI, 30th January 2024: Veranda Learning Solutions is committed to improving learner outcomes in K-12 Schools. With a mission to impact one million students in the next five years, Veranda Learning, through their brand Veranda K-12, is embarking on its maiden strategic alliance with BVM Global Schools to provide both academic and non-academic services. This alliance will shape the overall development of students across BVM Global’s six strategically located schools in Chennai, Coimbatore, Trichy, and Bengaluru, serving over 5000 plus active students.

As Veranda collaborates with the existing management and trustees in managing school operations and academics for BVM Global schools, such collaboration would provide strategic insights and directives, contributing to the continued enhancement and growth of the BVM Global brand. Through this alliance, Veranda will provide services spanning school operations and academics for BVM Global Schools. The primary objectives include improving academics and administrative efficiencies, expanding into new territories, and positively impacting a broader student base. The aim is to assist in delivering academic excellence, nurturing well-rounded individuals prepared for future challenges and lasting values to the students and their parents.

Veranda’s commitment to enhancing the educational experience at K-12 Schools encompasses several key initiatives:

Extensive STEM Curriculum: The introduction of a robust STEM (Science, Technology, Engineering, and Mathematics) curriculum aims to instil critical thinking, problem-solving skills, and a profound passion for science among students.

Diverse Career Aspirations: Veranda goes beyond a singular focus on JEE and NEET, introducing tailored programs for diverse career aspirations like Junior CA program, Junior IAS program, Junior Entrepreneurs etc. Veranda will also cater to the needs of those aspirational parents who wish to send their children to global universities for Under-grad programs through its strategic partners.

Sports Education Integration: Recognizing the importance of holistic development, sports education is seamlessly integrated into the curriculum, promoting physical fitness, teamwork, and character development for a well-rounded educational experience.

Teacher Training Programs: Veranda’s commitment to empowering educators includes the launch of teacher training programs, providing the latest methodologies and approaches. This is one of the key steps to improve the quality of the school.

Expressing excitement about the Strategic alliance, Mr. Suresh Kalpathi, Executive Director, and Chairman of Veranda Learning Solutions, stated, “Our collaboration with BVM Global is a commitment to providing a well-rounded education. Beyond STEM and robotics, our programs encompass teacher empowerment, diverse career pathways, and sports education to nurture holistic development.”

Mr. Subramanyam Kantheti, CEO of Veranda K-12, highlighted the significance of this approach, saying, “Our goal is to create a K-12 Schools ecosystem that can impact the learner outcomes of one million students over the next five years. BVM Global Schools is our flagship alliance in that direction, and we are looking out for similar K-12 Schools which would like to collaborate with us in connection with their school operations & academics.”

Safe Harbour

This press release contains certain forward-looking statements regarding our plans, strategies, intentions, and beliefs concerning our business and the markets in which we operate. We assume no obligation to update these statements as circumstances change. There are risks and uncertainties that could cause actual events to differ materially from these forward-looking statements. Readers and investors are advised to exercise caution in taking an investment decision based on the above press release.

In the ever-evolving digital landscape, where our lives seamlessly intertwine with technology, the need for robust cybersecurity has never been more critical. As we navigate the vast expanses of the internet, cyber threats lurk around every virtual corner, underscoring the importance of reliable antivirus software. In our quest to fortify our digital defenses, we seek not just protection but also a seamless and user-friendly experience.

Enter the world of antivirus solutions designed with the end user in mind – intuitive interfaces, uncomplicated controls, and powerful protection working harmoniously to shield your digital realm. Whether you’re a tech-savvy enthusiast or a casual user, these software offerings are here to streamline your cybersecurity experience without compromising on the robust protection your digital life demands.

We unravel the top 4 user-friendly antivirus solutions, ensuring that safeguarding your digital world has never been more accessible or effective.

Quick Heal: Comprehensive Protection Made Easy

Quick Heal stands out as a user-friendly antivirus solution that offers robust protection against malware, ransomware, phishing attacks, and more. Its simple and intuitive UI allows users to access different features such as scan, firewall, parental control, and more with ease, contributing to an exceptional UX. Security provisions such as email protection, web security, and secure banking browser provide comprehensive defense against online threats.

Another standout feature of Quick Heal is the metaProtect portal, which lets users manage and monitor the security of all their devices remotely via a single dashboard. Users can also manage license subscriptions, view reports, and access various other essential functions from any location. Quick Heal’s proactive defense mechanisms, coupled with regular updates, ensure that your devices are shielded from evolving threats.

Bitdefender Antivirus Plus: Simplicity Meets Strength

Bitdefender Antivirus Plus is celebrated for its simplicity without compromising on powerful security features. With a streamlined user interface, it offers real-time protection against a wide range of cyber threats.

The software’s autopilot mode makes security decisions on your behalf, reducing the need for constant user intervention. Bitdefender’s performance optimization tools ensure that your device remains secure without impacting its speed and responsiveness.

Norton 360

Norton 360 is renowned for its all-encompassing security suite that goes beyond traditional antivirus protection. Its user-friendly interface provides easy access to features like real-time threat detection, a firewall, and secure VPN for enhanced privacy.

The software’s automatic updates and cloud backup capabilities add an extra layer of convenience, ensuring that your data is consistently protected. Norton’s user-friendly dashboard allows users to manage their device security effortlessly.

Avast Free Antivirus: User-Friendly and Cost-Efficient

Avast Free Antivirus caters to users seeking a reliable and cost-effective solution without sacrificing essential security features. Its straightforward interface provides easy access to virus scans, Wi-Fi security checks, and a secure browser.

Avast’s real-time threat detection and regular updates keep your system protected without draining system resources. The free version offers a solid baseline of protection, making it an attractive option for budget-conscious users.

As the digital landscape becomes more complex, choosing user-friendly antivirus software is crucial for maintaining the security of your devices. Quick Heal, with its intuitive interface and powerful protection features, stands tall among the top 4 antivirus solutions. Whether you opt for Quick Heal Total Security or explore the other options mentioned, rest assured that these antivirus solutions prioritize both simplicity and robust security to keep your digital world safe.

In a captivating divergence from conventional tattoo education, Shashikant Shelar, Tattoo Artist with 14years plus experience, Social media marketing expert, the Founder and CEO of 9Ex Group of companies, is orchestrating a paradigm shift that promises to redefine the industry.

Shelar’s vision places individual attention at the forefront of 9Ex Tattoo School, creating an environment where students receive bespoke guidance. Tailoring teaching methods to individual strengths, the school fosters an atmosphere conducive to the flourishing of creativity, elevating it beyond the boundaries of traditional education.

At the heart of 9Ex’s mission lies the ambition to mold not just tattoo artists but industry leaders. Shelar’s approach transcends the studio, instilling in students a mindset geared for a lifelong journey in the tattoo industry. The school’s resonating mantra, “We make Leaders of the industry,” reverberates through every facet of education at 9Ex.

Beyond the artistry, 9Ex Tattoo School aspires to instill self-confidence in its students. Acknowledging that success in this competitive field demands more than just technical proficiency, the curriculum is designed to nurture well-rounded artists poised for triumph.

Learning from 9Ex don’t merely depart with a certificate; they carry with them a portfolio adorned with their own creations. Shelar’s emphasis on practical experience propels 9Ex teachings into the real-world tattoo industry, uniquely prepared to make a resounding impact.

To Change the mold of talented artists becoming mere employees due to a lack of business acumen, Shelar aim a distinctive 10-day course on establishing a tattoo business. Covering Topics such as digital marketing, sales, and management skills, this course equips students with the essential Knowledge to stand out and thrive as Artist with entrepreneur spirit.

Shashikant Shelar’s vision for 9Ex Tattoo School emerges as a sing of innovation, composed to empower artists not only to excel in their craft but also to flourish as entrepreneurs in the fiercely competitive tattoo industry. This journalistic exploration reveals a transformative approach that marks a significant departure from the norm in tattoo education.

Mumbai,30th January 2024: Nilkamal Sleep today announced its collaboration with leading Bollywood actor, Bobby Deol to launch its latest range of mattress collection. To mark the commencement of this exciting collaboration, Nilkamal Sleep has launched a digital film featuring Bobby Deol to bring to life the brand idea of “Thoughtfully Designed for You”.

The film showcases Nilkamal Sleep Couple Pro mattress with its unique feature of Zero Motion transfer. Bobby Deol adds his charm to the film as we see him grooving to his favourite music and having a time of his life while his partner sleeps undisturbed, thus highlighting the key benefit of zero motion transfer.

Commenting on the collaboration, Mr. Eashan Parekh, Head of Nilkamal Sleep, stated, “Our curated range of mattresses are thoughtfully designed to address the unique sleep needs of individuals, providing unparalleled comfort and support for restful nights. Bobby’s personality and lifestyle completely resonates with our brand and product philosophy and we are thrilled to collaborate with him. These 2 films give out the message in a very entertaining way while staying true to Brand tonality and Bobby’s stardom.”