The diversified conglomerate is slated to release its June quarter results later in the day. KR Choksey Securities expects ITC's top line (sales/revenues) to decline 26.9 per cent year-on-year (YoY) and 26.4 per cent quarter-on-quarter (QoQ) to Rs 8,407 crore. "Hotel business which occupies nearly 4 per cent of revenue will take a major negative hit, while the Cigarette segment is expected to be severely impacted due to lockdown and health warnings amidst the Covid-19 outbreak," it said in a result preview note. READ MORE
Other earnings: Besides ITC, 70 other companies are expected to announce their June quarter results later in the day. The list includes names such as Asian Paints, JSW Steel, and Ambuja Cements.
Mphasis: IT firm Mphasis on Thursday reported a 3.9 per cent increase in consolidated net profit at Rs 275.1 crore in June 2020 quarter. The company''s net profit stood at Rs 264.6 crore in the year-ago period, Mphasis said in a regulatory filing.
Wipro: IT major Wipro on Thursday said it will acquire 4C, one of the largest Salesforce partners in the UK, Europe and Middle East, for 68 million euros (about Rs 589 crore).
Lupin: The company on Thursday said it has received tentative nod from the US health regulator to market generic Empagliflozin and Linagliptin tablets, used as an adjunct to diet and exercise to improve glycemic control in adults with type 2 diabetes.
Biocon: Biotechnology major Biocon on Friday posted a profit before tax (PBT) of Rs 252.30 crore for the first quarter of FY21, a decline of 21 per cent when compared with the corresponding quarter of previous financial year.
Zensar Technologies on Thursday posted a 6.9 per cent decline in net profit to Rs 73.3 crore for June 2020 quarter. It had reported a profit of Rs 78.7 crore in the year-ago period, Zensar Technologies said in a statement.
The company on Thursday announced Q1 operational update. As regards transmission business, the company said its lines are operating at greater than 99.5 per cent availabilities and there is no adverse impact on billing. READ MORE
PNC Infratech on Thursday said it has won two highway contracts, part of Delhi-Vadodara Expressway, worth Rs 1,547.80 crore from National Highways Authority of India (NHAI).
ABB India: ABB India reported 76.66 per cent fall in net profit to Rs 16.28 crore on 41.91% fall in total income to Rs 1,014.40 crore for June 2020 quarter.
Net profit of AU Small Finance Bank rose 5.51 per cent to Rs 200.81 crore in the quarter ended June 2020 as against Rs 190.32 crore during the previous quarter ended June 2019.