Reliance Industries
The billionaire Mukesh Ambani-led company conglomerate
reported strong operating and financial performance across all businesses for
the quarter ended June 2022, with the highest ever quarterly revenue for O2C
(oil-to-chemical0 business in a volatile environment, and best ever quarterly
revenue for Reliance Retail, and Jio Platforms. The company recorded a 41%
year-on-year growth in consolidated profit after tax (PAT) at Rs 19,443 crore
in the first quarter of fiscal 2023. Gross revenue surged by 53% to Rs 2,42,982
crore for the quarter compared to year-ago period. EBITDA for the quarter stood
at Rs 40,179 crore, higher by 45.8%.
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Infosys
The IT giant reported a 3.2% year-on-year rise in
consolidated net profit at Rs 5,360 crore for the April-June quarter of fiscal
2023. The profit in the year-ago period was Rs 5,195 crore. Sequentially, there
was a 5.7% decline in profit to Rs 5,686 crore. Revenue was up 24% year-on-year
to Rs 34,470 crore, from Rs 27,896 crore in the corresponding quarter a year
ago. The attrition rate was 28.4% in reported quarter, up from 13.9 a year-ago
and 27.7% on a sequential basis.
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ICICI Bank
The country’s second-largest private sector bank reported a
50% year-on-year growth in standalone profit at Rs 6,905 crore for the quarter
ended June 2022, as bad loan provisions fell sharply compared to year-ago
period. Net interest income rose by 20.8% to Rs 13,210 crore, compared to Rs
10,936 crore reported in corresponding period of previous financial year.
Advances grew 21% and deposits increased 13% year-on-year. Asset quality showed
improvement on a sequential basis.
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Kotak Mahindra Bank
The private sector lender 26.1% year-on-year increase in
standalone profit at Rs 2,071.15 crore for the quarter ended June 2022, on the
back of lower bad loan provisions, with improving asset quality performance.
Net interest income increased by 19.2% year-on-year to Rs 4,697 crore for the
reported quarter.
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Yes Bank
The bank has posted a 50.17% year-on-year growth in profit
after tax at Rs 310.63 crore for April-June quarter of fiscal 2023, aided by a
significant fall in bad loan provisions and higher net interest income. During
the quarter, net interest income grew 32% year-on-year to Rs 1,850 crore, with
14% year-on-year credit growth and an 18% increase in deposits.
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Bandhan Bank
The Kolkata-based private sector lender reported a more
than two folds increase in net profit to Rs 886.5 crore in April-June quarter
of financial year 2022-23 aided by a decline in bad loans. It had reported a
net profit of Rs 373.1 crore in the year-ago period. Total income increased to
2,844.1 crore from Rs 2,731 crore. Interest income of the lender jumped to Rs
2,514.4 crore from Rs 2,114.1 crore. Net NPA declined to 1.92% from 3.29% in
the same quarter a year ago.
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JSW Steel
The steel firm has reported a 86% year-on-year decline in
consolidated profit at Rs 839 crore for the first quarter of the financial year
2022-23, impacted by weak operating performance. Operating expenses stood
higher including higher input costs, finance costs, and power & fuel costs.
Revenue jumped 32% year-on-year to Rs 38,086 crore during the quarter.
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GAIL India
The state-owned natural gas company said the board of
directors will hold a meeting on July 27 to consider the issuance of bonus shares.
Hence, the trading window for dealing in securities of GAIL for designated
persons and their immediate relatives will remain closed till the approval of
financial results for the quarter ended June 2022.
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Granules India
The US FDA has completed an inspection of the facility of
Granules Pharmaceuticals Inc, with six observations. Granules Pharmaceuticals
Inc is a fully-owned foreign subsidiary of the company located in Virginia,
USA, and an inspection of the said facility by USFDA was completed on July 22.
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HFCL
The telecom equipment & optical fiber solutions company
has reported a 42% year-on-year drop in profit at Rs 53 crore for quarter ended
June 2022, on the back of spill over of service billing followed by
non-availability of required infrastructure from the customer end and also
followed by non-availability of required infrastructure from the customer end
and also continued shortage of semiconductors. Revenue slipped 13% to Rs 1,051
crore during the same period, but exports jumped by 167% year-on-year, with a
strong order book worth more than Rs 5,300 crore as of June 2022.
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Happiest Minds
The IT company reported a 57.7% increase in consolidated
profit after tax at Rs 56.34 crore in the June quarter of fiscal 2023, compared
to Rs 35.73 crore in the year-ago period. The consolidated revenues from
contracts with customers of the company jumped 34.5 to Rs 328.92 crore during
the quarter against Rs 244.61 crore in the year-ago period.
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Crompton Greaves Consumer Electricals
The company reported a 33% increase in consolidated net
profit at Rs 125.95 crore in the April-June quarter, on the back of higher
sales. It had posted a consolidated net profit of Rs 94.76 crore in the
year-ago period. Consolidated revenue from operations in the first quarter
stood at Rs 1,862.94 crore, compared to Rs 1,050.48 crore in the year-ago
period. The company has raised Rs 600 crore through the allotment of
non-convertible debentures on a private placement basis in two series.
