Axis Bank

India’s third largest private sector lender Axis Bank
reported a consolidated net profit of Rs 5,330 crore, up 70% for the quarter
ended September 2022, as against Rs 3,133 crore in the year-ago quarter. A
sharp dip in provisions, healthy growth in net interest income (NII), and
pre-provision operating profit also boosted profitability. The NII rose 31%
year-on-year to Rs 10,360 crore from Rs 7,901 crore in the last year quarter.
Provisions for the reported quarter fell to Rs 550 crore, as against Rs 1,735 crore
a year ago.

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Bajaj Finance

The non-banking finance company reported an 88%
year-on-year growth in net profit to Rs 2,781 crore for the quarter ended
September of fiscal 2023. It was the highest-ever consolidated quarterly
profit. Net interest income (NII) increased by 31% to Rs 7,001 crore during the
reported quarter with new loans booked up by 7% to 67.6 lakh year-on-year.
Assets under management (AUM) rose 31% YoY to Rs 2.18 lakh crore as of
September fiscal 2023. Loan losses and provisions saw a significant fall to Rs
734 crore in Q2FY23 against Rs 1,300 crore in Q2FY22.

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Asian Paints

The company reported a 31.3% year-on-year growth in net profit at Rs 783 crore
in the quarter that ended September on the back of price increases and strong
demand in the domestic decorative business. The paint major’s net sales also
grew 18.8% to Rs 8,431 crore year-on-year. The company also approved the
setting up of a manufacturing facility for vinyl acetate-ethylene emulsion
(VAE) and vinyl acetate monomer (VAM) in India. The company will invest an
amount of approximately Rs 2,100 crore over a period of 3 years, including the
cost of land acquisition. The installed capacity of the said manufacturing
facility would be 1 lakh tons per annum for VAM and 1.5 lakh tons per annum for
VAE. VAM is a key material for manufacturing VAE.

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ITC Limited

The Tobacco-to-hotels major reported a 24.4% year-on-year
jump in its consolidated net profit to Rs 4,619.77 crore in the second quarter
of fiscal 2022-23, In the year-ago period, the profit was at Rs 3,713.76 crore.
Net revenue at Rs 17,108 crore in reported quarter, up 24.4% year-on-year.
Revenue from cigarettes came in at Rs 7,635.38 crore, compared with Rs 6,219.84
crore a year ago. Revenue from the non-cigarette FMCG segment was at Rs
4,894.26 crore in the September quarter. Revenue from the hospitality segment
stood at Rs 560.37 crore.

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Tata Consumer Products

The Tata Group company reported a 36.25% rise in
consolidated net profit at Rs 389.43 crore led by exceptional income related to
sale of land. The company posted a net profit of Rs 285.80 crore for the
July-September period a year ago. Revenue from operations grew by 11% YoY to Rs
3,363 crore. In constant currency terms, the growth was 10%, mainly driven by
underlying growth of 9% in India business, 6% in international business, and
30% in non-branded business. Consolidated EBITDA for the quarter at Rs 438
crore grew 4% YoY. Total expenses were at Rs 3,021.90 crore, up 11.55% from Rs
2,708.91 crore earlier.

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Coforge

The IT company reported a consolidated net profit of Rs
220.6 crore the July-September for fiscal 2023, a growth of 36.6% year-on-year.
This is against a net profit of Rs 161.5 crore in the year-ago period, the
company said in a regulatory statement. Revenue from operations grew 19.9% to
Rs 1,959 crore in constant currency terms, compared to Rs 1,569 crore a year
ago. The company has reiterated its annual revenue guidance to grow at least
20% in a constant currency. The board has recommended an interim dividend of Rs
13 per share, with the record date for payout on November 4, 2022.

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ICICI Securities

The company’s profit after tax (PAT) fell 14.5%
year-on-year to Rs 300.41 crore during the July-September quarter of the
financial year 2022-23, due to muted topline and weak operating performance.
The company posted a PAT of Rs 351.2 crore in the year-ago quarter. The
company’s total income rose to Rs 865.63 crore in the second quarter ended on
September 20, 2022, from Rs 856.56 crore in the year-ago period. The board has
declared an interim dividend of Rs 9.75 per share in the first half of fiscal
2023 as compared to Rs 11.25 in the same quarter last financial year.

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Dynamatic Technologies

The US-based aerospace and defense company Northrop Grumman
has signed a letter of intent with Dynamatic Technologies to support their
workshare for the India Navy F/A-18 program. Hindustan Aeronautics also signed
a Memorandum of Understanding (MoU) with Dynamatic to work together for
manufacturing and supply of front fuselage assembly along with jig and tooling
complying with quality requirements.

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Nazara Technologies

The diversified gaming and sports media platform posted a
profit of Rs 16.9% crore for the quarter ended September fiscal 2023, up 10.5%
year-on-year. Revenue increased by 104% to Rs 263.8 crore. EBITDA grew 9.2% to
Rs 21.3 crore compared to the corresponding quarter of last fiscal year. The
company appointed Sudhir Kamath as its new chief operating officer (CEO), while
Manish Agarwal resigned as CEO effective December 1, 2022, to pursue an
entrepreneurial career.