In News

In News

Axis Bank: The private sector lender has reported a massive 62 percent year-on-year increase in Q3FY23 profit at Rs 5,853 crore despite higher provisions, led by healthy other income, operating profit and net interest income. Net interest income grew by 32.4 percent to Rs 11,459 crore compared to the year-ago period, with strong 15 percent loan growth and an expansion in net interest margin. Asset quality improved but slippages remained elevated on a sequential basis for the quarter.

Poonawalla Fincorp: The non-banking finance company has registered a strong 89 percent year-on-year growth in consolidated profit at Rs 182.1 crore for the quarter ended December FY23, with writeback of impairment of financial instruments for the quarter. Net interest income grew by 42 percent YoY to Rs 463.7 crore during the quarter.

Dilip Buildcon: Dilip Buildcon and Skyway Infraprojects joint venture has declared as L-1 bidder for the tender floated by Madhya Pradesh Jal Nigam Maryadit, Bhopal. The order is worth Rs 1,947.06 crore. Also, its subsidiary Raipur-Visakhapatnam-CG-2 Highways Limited has received the appointed date letter from the National Highways Authority of India and had declared the appointed date as January 9, 2023.

Amber Enterprises: The contract manufacturer of room air-conditioners reported a 56 percent year-on-year decline in consolidated profit at Rs 14.2 crore for December FY23 quarter dented by margin, with a significant increase in raw material cost, employee expenses and finance cost. Revenue from operations for the quarter grew by 38.4 percent to Rs 1,348.3 crore compared to the year-ago period.

Container Corporation of India: The state-owned logistics company has reported a 3.5 percent year-on-year growth in standalone profit at Rs 296.5 crore for quarter ended December FY23, with healthy operating profit and margin. Revenue for the quarter grew by 3.6 percent to Rs 1,988.4 crore compared to the year-ago period.

Gland Pharma: The pharma company has reported a 15 percent year-on-year decline in profit at Rs 232 crore for December FY23 quarter with lower topline as well as weak operating performance. Revenue from operations for the quarter at Rs 938 crore declined 12 percent compared to the year-ago period.

FSN E-Commerce Ventures: The Nykaa Fashion operator said the board members have appointed P Ganesh as Chief Financial Officer and key managerial personnel of the company effective February 3, 2023.

Welspun Corp: Associate company, East Pipes Integrated Company for Industry (EPIC) in the Kingdom of Saudi Arabia has signed contracts for the supply of steel pipes for water transmission with a total value of SAR 569 million. The pipes have to be supplied within 12 months and the financial impact of this will be starting in Q1FY24.