RIL: Reliance Industries Ltd (RIL) on Friday reported a 6.8 per cent increase in its net profit at Rs 10,104 crore for the quarter ended June this year on the back of a record 22 per cent jump in revenue at Rs 1.72 trillion. Besides, the company on Friday informed that Reliance Industrial Investments and Holdings had signed an agreement with BIF IV Jarvis India Pte, a unit of Brookfield Asset Management, for an investment by Brookfield (along with co-investors) for Rs 25,215 crore in units issued by the Tower Infrastructure Trust.
HDFC Bank: Private lender HDFC Bank Saturday reported an 18.04 per cent increase in its consolidated net profit at Rs 5,676.06 crore for the April-June quarter on the back of healthy growth in core income and restricted bad loan proportions.
IndiGo: InterGlobe Aviation Ltd, which operates India’s largest airline, IndiGo, on Friday reported its highest ever quarterly profits of Rs 1,203 crore, benefiting from the collapse of Jet Airways. Additionally, in its board beet, the airline decided to expand the IndiGo board to 10 directors. Four of them will be independent directors.
Oriental Bank of Commerce and TVS Motor Company are among the 31 companies scheduled to declare their June quarter results today.
Dr Reddy's: Drug major Dr Reddy's Laboratories on Saturday said it has completed sale of its US and select territory rights for two neurology products to Upsher-Smith Laboratories.
State-owned BHEL on Sunday said it has secured an order worth Rs 486 crore from Nuclear Power Corporation of India Ltd (NPCIL) to erect the reactor side equipment in unit 3 and 4 of Kudankulam project.
The names of Etihad Airways and Hinduja Group have resurfaced as contenders for submitting a joint expression of interest (EoI) to revive Jet Airways, said a Business Standard report. READ MORE
ICICI Lombard: ICICI Lombard General Insurance Company reported a net profit of Rs 310 crore for the first quarter of current fiscal, a rise of 7.1 per cent over the year-ago period.
Axis Bank: Private sector lender Axis Bank said Saturday its board has approved raising up to Rs 18,000 crore through an issue of equity shares, depository receipts or convertible securities. The Board of Directors of the bank approved the proposal in this regard in the meeting held Saturday, the bank said in a regulatory filing.
Credit rating companies: IL&FS audit by Grant Thornton revealed that rating agencies knew of stress at the group.
Amara Raja Batteries: Amara Raja Batteries on Friday reported a revenue of Rs 1,814.95 crore (up 2%) in Q1FY20 and profit after tax (PAT) of Rs 140.91 crores (Rs 113.03 crores).
Mahindra CIE Automotive:
Standalone revenues for Q2CY19 stood at Rs 541 crore. Decline in sales in the India business stood at nearly 12 per cent vs. nearly 15 per cent decline in proportionate share of volume at its key OEM clients. Consequent PAT for the quarter on standalone basis stood at Rs 23.3 crore, down 47 per cent YoY, lower than our estimate of Rs 43.8 crore.
L&T Finance Holding
reported a meagre 2 per cent rise in its net profit at Rs 549 crore in the June quarter of FY20 on account of higher provisioning made for IL&FS and one of the distressed housing finance companies for which the firm took a mark down of Rs 284 crore on the whole exposure.
CG Power: CG Power & Industrial Solutions, through its wholly owned subsidiary, CG Holdings Belgium NV Systems Division has bagged a contract valued at Euro 12.5 Mio (approx.) for high-voltage substations that will connect the Dumat Al Jandal wind farm to the Saudi Arabian electricity transmission grid.