Axis Bank, Tata Steel, TechM: Axis Bank, Tata Steel, Tech Mahindra,
, Canara Bank, GlaxoSmithKilne Pharmaceuticals, , Supreme Industries, Central Bank of India, KPIT Technologies, and are among the companies that will announce their earnings for the quarter ended June 2022.
Reliance Industries: Billionaire Mukesh Ambani’s firm reported a 46 per cent jump in its June quarter net profit on bumper earnings from oil refining as well as an uptick in telecom and retail businesses. The oil-to-retail-to-telecom conglomerate’s consolidated net profit stood at Rs 17,955 crore in April-June compared to Rs 12,273 crore a year back.
ICICI Bank: The private lender reported a 55.04 per cent jump in its June quarter consolidated net profit to Rs 7,384.53 crore, helped by a sharp reduction in provisions and the core interest income continuing to be strong. On a standalone basis, it reported a net profit of Rs 6,904.94 crore against Rs 4,616.02 crore in the year-ago period.
Infosys: The India’s second-largest IT services firm reported a lower-than-estimated 3.2 per cent rise in June quarter net profit amid escalating costs. Net profit of Rs 5,360 crore, or Rs 12.78 a share, compared with Rs 5,195 crore, or Rs 12.24 per share, in the same period a year back.
Kotak Mahindra Bank: The Private sector lender reported a 26 per cent rise in net income at Rs 2,071.15 crore in the June quarter, buoyed by record margins and a decline in bad loans. On a consolidated basis, the financial services group, logged in 53 per cent rise in net income at Rs 2,755 crore in the June quarter over the corresponding period a year ago.
ONGC: The state run natural gas provider has inked gas sale agreements with GAIL India and Assam Gas Company Ltd (AGCL) to monetise its upcoming field at Khubal in North Tripura district. Under the agreement, the GAIL and AGCL will receive 50,000 standard cubic metre of gas each from Khubal Gas Gathering Station (GGS).
(HDFC): The Mortgage lender plans to raise up to Rs 11,000 crore by issuing bonds on a private placement basis. The base issue size of the company’s secured redeemable non-convertible debentures is Rs 4,000 crore with an option to retain oversubscription of up to Rs 7,000 crore.
Tata Motors: The homegrown auto major said it has bagged an order for 1,500 electric buses from Delhi
(DTC) as part of a tender by Convergence Energy Services. The auto major will supply, operate and maintain air-conditioned, low-floor, 12-metre fully-built electric buses for 12 years, as per the contract.
Pharma stocks: Leading drug makers Sun Pharma and Glenmark are recalling products in the US, the world’s largest market for medicines, due to lapses in the manufacturing process. As per the latest enforcement report by the USFDA, a US-based unit of Sun Pharma is recalling 50,680 vials of Testosterone Cypionate Injection, used to treat low testosterone.
JSW Steel: The steel maker posted over 85 per cent year-on-year fall in its consolidated net profit at Rs 839 crore during the June 2022 quarter, dragged by higher expenses. The company’s profit stood at Rs 5,900 crore during the April-June period of the preceding 2021-22 fiscal.
Yes Bank: The private sector lender reported 54.17 per cent jump in consolidated net profit at Rs 314.14 crore for June quarter 2022-23, driven by core income growth and a fall in provisions. It reported a net profit of Rs 310.63 crore on a standalone basis as against Rs 206.84 crore in the year-ago period and Rs 367.46 crore in the preceding March quarter.
Vodafone Idea: The telecom firm announced the elevation of present chief financial officer Akshay Moondra as its new chief executive officer with effect from August 19. The company’s present managing director and chief executive officer Ravinder Takkar will continue to be on the board as a non-executive and non-independent director.
PB Fintech: The parent company of Policybazaar Insurance Brokers said that the IT system of the firm was hacked on July 19 and subsequent corrective action was taken. The company identified certain vulnerabilities on July 19 in a part of Policybazaar Insurance Brokers IT systems leading to illegal and unauthorized access to the network.
HDFC Asset Management Company: The mutual fund player reported a 9 per cent decline in profit after tax at Rs 314.2 crore in the three months ended June 2022. In comparison, the asset management firm had posted a Profit After Tax (PAT) of Rs 345.4 crore in the year-ago period.
Persistent Systems: The mid-size information technology company reported a 40 per cent jump in its June quarter net profit to Rs 211.6 crore. The Pune-headquartered company reported a 52.7 per cent rise in its revenue to Rs 1,878 core.
Bandhan Bank: The private lender said its June quarter net profit more than doubled to Rs 886.5 crore in April-June 2022-23 aided by a decline in bad loans. The Kolkata-headquartered private sector lender had logged a net profit of Rs 373.1 crore in the year-ago period.
Happiest Minds Technologies: The IT company posted a 57.7 per cent increase in consolidated profit after tax at Rs 56.34 crore in the June quarter. The company had reported a profit of Rs 35.73 crore in the year-ago period.
HFCL: The domestic telecom gear maker posted a 41.76 per cent decline in consolidated profit to Rs 53.1 crore in the first quarter ended June 30. HFCL had posted a net profit of Rs 91 crore a year ago. The consolidated revenue declined 12.92 per cent to Rs 1,051 crore.
Karnataka Bank: The private sector lender reported nearly 8 per cent increase in net profit at Rs 114 crore for June quarter 2022-23 helped by a growth in core income and fall in bad loans. It had posted a net profit of Rs 105.91 crore in the year-ago period.
Crompton Greaves Consumer Electricals: The household appliances maker reported a 33 per cent increase in net profit at Rs 125.95 crore in the first quarter ended June 30, on the back of higher sales. The company had posted a consolidated net profit of Rs 94.76 crore in the year-ago period.
Union Bank of India: The state run lender said it will raise Rs 1,320 crore next week by issuing bonds on a private placement basis. The bank said it has accepted bids of Rs 1,320 crore in an issue of Rs 2,100 crore with a base issue size of Rs 600 crore and a green shoe option to retain oversubscription up to Rs 1,500 crore.
Olectra Greentech: The vehicle maker will supply 300 electric buses worth Rs 500 crore to Telangana State Road Transport Corporation (TSRTC). The Megha Engineering & Infrastructure Ltd (MEIL) group company, Evey Trans Private Ltd (EVEY), has received the Letter of Award (LoA) from TSRTC for supply of 300 electric buses to TSRTC.
Wendt India: The abrasives and precision component manufacturer has reported a 29.9 per cent rise on its standalone profit after tax at Rs 6.94 crore for the quarter ending June 30, 2022. The Murugappa Group company had registered standalone profit after tax at Rs 5.34 crore in corresponding quarter previous year.
Uttam Galva Steels: The iron and steel products firm’s consolidated net loss narrowed to Rs 50.65 crore in the April-June quarter of 2022-23 on an improvement in income, according to a regulatory filing. The company had reported a net loss of Rs 79.18 crore during the same quarter in 2021-22 fiscal.
Shri Keshav Cements and Infra: The Karnataka based cement player is intends to increased its production capacity to 3,000 tons per day (TPD) from existing capacity of 1 million tons per annum, which is about 1,100 tons a day.
Shubham Polyspin: The multi filament yarn manufacturer has installed another twister machine to increase its capacity by another 10 per cent, helping it to earn higher realization. The majority of twine PP Threads would be supplies to the government and PSUs.
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