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Axis Bank, Tech Mahindra, Tata Steel in spotlight
(08:28, 26 Jul 2022)

Axis Bank: The private lender's net profit surged 91% to Rs 4,125.26 crore on 12.2% increase in total income to Rs 21,727.61 crore in Q1 FY23 over Q1 FY22. Net interest income (NII) increased by 21% % YoY and 6% QoQ to Rs 9,384 crore. Net interest margin (NIM) for Q1 FY23 stood at 3.60%, up 14 basis points YoY and 11 basis points QoQ.

Tech Mahindra: On a consolidated basis, the IT major's net profit fell 24.8% to Rs 1,131.60 crore on 4.9% increase in revenue from operations to Rs 12,707.90 crore in Q1 FY23 over Q4 FY22. EBITDA stood at Rs 1,880.10 crore in Q1 FY23, down 10% quarter on quarter (QoQ) and up 0.2% YoY. EBITDA margin decreased to 14.8% in Q1 FY23 from 17.2% in Q4 FY22 and 18.4% in Q1 FY23.

Tata Steel: The company reported consolidated net profit of Rs 7714 crore in Q1 FY23 from Rs 9768 crore in Q1 FY22. Total revenue from operations stood at Rs 63430 crore in Q1 FY23 from Rs 53465 crore in Q1 FY22.

Indian Energy Exchange: The company reported consolidated net profit of Rs 69.1 crore in Q1 FY23 from Rs 62.1 crore in Q1 FY22. Total revenue from operations stood at Rs 113.4 crore in Q1 FY23 from Rs 102.9 crore in Q1 FY22.

Lupin: Lupin announced that it has received approval from the United States Food and Drug Administration (FDA) for its Abbreviated New Drug Application (ANDA), Azilsartan Medoxomil Tablets, 40 mg and 80 mg, to market a generic equivalent of Edarbi Tablets, 40 mg and 80 mg, of Azurity Pharmaceuticals, Inc. The product will be manufactured at Lupin's facility in Nagpur.

Sonata Software: The board considered, approved and recommended a bonus issue of one equity share for every three equity shares held by the shareholders of the company as on the record date.

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