Results scheduled for April 26th
Several major firms, including Wipro, Hindustan Unilever, Tech Mahindra, LTI Mindtree, Aditya Birla Sun Life AMC, Aarti Surfactants, Axis Bank, Bajaj Finserv, Bajaj Holdings & Investment, ACC, Agro Tech Foods, and Glenmark Life Sciences, are scheduled to release their quarterly financial results on April 27th.
Bajaj Finance
According to a statement from Bajaj Finance, the company has released its consolidated quarterly results for March 31, 2023. The results indicate that Bajaj Finance has experienced an increase in total income, rising from Rs. 10,786.03 Crores as of December 31, 2022, to Rs. 11,363.14 Crores as of March 31, 2023. However, the company’s net profit has decreased from Rs. 2,973 Crores as of December 31, 2022, to Rs. 3,157.79 Crores as of March 31, 2023. Nevertheless, the earnings per share (EPS) have shown an improvement, increasing from Rs. 48.96 on December 31, 2022, to Rs. 52.01 on March 31, 2023.
HDFC Life Insurance
As per the company’s statement, HDFC Life Insurance has released its consolidated quarterly results for March 31, 2023. The results show that the company’s total income has increased from Rs. 19,718.24 Crores as of December 31, 2022, to Rs. 21,470.50 Crores as of March 31, 2023. However, the net profit has decreased from Rs. 315.91 Crores as of December 31, 2022, to Rs. 361.97 Crores as of March 31, 2023. Despite this, the earnings per share (EPS) have shown an improvement, rising from Rs. 1.48 on December 31, 2022, to Rs. 1.70 on March 31, 2023.
L&T Tech Services
L&T Tech Services has released its consolidated quarterly results for March 31, 2023, revealing an increase in total income from Rs. 2122.8 Crores as of December 31, 2022, to Rs. 2146 Crores as of March 31, 2023. The company’s net profit has declined from Rs. 303.6 Crores as of December 31, 2022, to Rs. 309.6 Crores as of March 31, 2023, according to their statement. However, the earnings per share (EPS) have shown improvement, rising from Rs. 28.66 on December 31, 2022, to Rs. 29.22 on March 31, 2023.
Voltas
Voltas has released its consolidated quarterly results for March 31, 2023, as per the company’s statement. The results show an increase in total income from Rs. 2,036.27 Crores as of December 31, 2022, to Rs. 3,003.46 Crores as of March 31, 2023. The net profit for the company has decreased from Rs. -110.38 Crores as of December 31, 2022, to Rs. 143.92 Crores as of March 31, 2023. However, the earnings per share (EPS) have shown an improvement, rising from Rs. -3.34 on December 31, 2022, to Rs. 4.35 on March 31, 2023.
City Union Bank
City Union Bank has reported impressive quarter results for the quarter that ended in December 2022. The bank’s net profit grew by 11 percent, from Rs 196 crore to Rs 218 crore in the same quarter last year. Additionally, the operating profit of the bank also grew significantly by 35 percent to Rs 497 crore from Rs 370 crore last year during the same period.
The reappointment of N Kamakodi as the MD and CEO of City Union Bank is expected to provide stability and direction to the bank’s operations, and ensure that it continues to grow and prosper in the years to come.
Maruti Suzuki
Bajaj Auto has announced the release of its consolidated quarterly results for March 31, 2023, in a recent statement. As per the statement, the company’s total income has risen from Rs. 9589.07 Crores on December 31, 2022, to Rs. 9192.73 Crores on March 31, 2023. However, the net profit has decreased from Rs. 1472.70 Crores as of December 31, 2022, to Rs. 1704.74 Crores on March 31, 2023. Despite this decline, the earnings per share (EPS) have shown improvement, increasing from Rs. 52.1 on December 31, 2022, to Rs. 60.3 on March 31, 2023.
RVNL
The Union Finance Ministry has approved the upgrade of Rail Vikas Nigam Limited (RVNL) from Category-I Miniratna to Navratna Central Public Sector Enterprise (CPSE). RVNL is a public sector undertaking under the Ministry of Railways and will become the 13th Navratna among CPSEs. The upgrade grants the company greater autonomy in areas such as investment, joint venture establishment, and other financial decisions.
KEC International
KEC International Ltd., an infrastructure engineering, procurement, and construction (EPC) firm within the RPG Group, has announced new contracts worth Rs. 1,017 crores for its diverse business operations. The company’s Transmission & Distribution (T&D) business has secured a contract for a 765 kV transmission line from a private developer in India.
Coffee Day Enterprise
Coffee Day Enterprises Ltd, the parent company of Mysore Amalgamated Coffee Estates Ltd, has faced action from the National Financial Reporting Authority (NFRA) as one of its auditors based in Karnataka has been banned from practicing for 10 years. According to an official order, the NFRA found deficiencies in the statutory audit conducted for FY20 and noted that the auditor failed to comply with the relevant auditing standards in several critical areas, demonstrating a significant lack of competence.
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