With a volume decline of over 60 per cent year-on-year, analysts expect Bajaj Auto’s margins to remain under pressure for the April-June quarter earnings of financial year 2020-21 (Q1FY21). However, the decline in net profit could be cushioned by higher other income, analysts say. READ MORE
HUL: FMCG major Hindustan Unilever on Tuesday reported a 5.7 per cent increase in consolidated net profit to Rs 1,897 crore for the first quarter ended June 30. The company had posted a net profit of Rs 1,795 crore in April-June quarter of the previous fiscal.
Axis Bank: The private sector lender on Tuesday reported a 31.29 per cent year-on-year drop in profit before tax for the first quarter ended June 30 on higher provisions booked in the current quarter, and also due to moving towards a more conservative mode of accounting.
Earnings today: As many as 39 companies are expected to report their June quarter results including names such as Bajaj Auto, L&T, and Rallis India.
Bajaj Finserv: Net profit of Bajaj Finserv rose 43.75 per cent to Rs 1215.15 crore in the quarter ended June 2020 as against Rs 845.34 crore during the previous quarter ended June 2019.
IndiaMART InterMESH: Net profit of the company rose 128.70 per cent to Rs 74.10 crore in the quarter ended June 2020 as against Rs 32.40 crore in the year-ago period.
Polycab India: Net profit of Polycab India declined 12.57 per cent YoY to Rs 117.60 crore. Sales declined 49.95 per cent YoY to Rs 976.60 crore.