Axis Bank's net profit tanked 36.45% to Rs 1116.60 crore while total income fell 1.13% at Rs 19,274.39 crore in Q3 December 2020 over Q3 December 2019. The private lender's PAT was adversely impacted by about Rs 1,050 crore on account of prudent expense and provisioning charges in Q3. Profit before tax (PBT) dropped 34.35% to Rs 1,491.23 crore in Q3 FY21 as against Rs 2,271.77 crore in Q3 FY20. Tax expense tumbled 27.22% to Rs 374.63 crore in Q3 FY21 compared with Rs 514.77 crore in Q3 FY20.
Hindustan Unilever (HUL) reported an 18.8% rise in net profit to Rs 1921 crore on a 21% rise in revenue from operations to Rs 11,862 crore in Q3 FY21 over Q3 FY20. The FMCG major's profit before tax rose 16.46% year-on-year to Rs 2,596 crore in Q3 FY21. EBITDA grew by 16.7% to Rs 2854 crore in Q3 FY21 from Rs 2445 crore in Q3 FY20. EBITDA margins at 24% remain healthy. HUL said it has significantly dialed up investments behind its portfolio and in building future-fit capabilities. Net revenue management and savings agenda has enabled it to drive healthy bottom line.
Infosys announced that it has achieved Elite Status in the Snowflake Partner Network. Along with Snowflake, the Data Cloud company, Infosys will offer transformational solutions for enterprises, built on Snowflake's Data Cloud, which include a hyper data economy for enterprises, proven industry and business solutions and managed cloud consumption solutions from the Infosys Cobalt portfolio.
NTPC said that consequent upon successful commissioning and due approvals, 140 MW capacity Bilhaur Solar PV Project at Bilhaur, Uttar Pradesh, has been declared on Commercial Operation w.e.f. 18 January 2021. With this, the commissioned capacity of Bilhaur Solar PV Project, NTPC and NTPC group has become 140 MW, 51310 MW and 63925 MW respectively and the commercial capacity has become 140 MW, 51310 MW and 63265 MW respectively.
Hero MotoCorp said it will will soon commence its operations in Mexico, in line with its global expansion strategy. Hero MotoCorp has entered into a distribution agreement with Grupo Salinas, a group of dynamic, fast-growing and technologically advanced companies focused on creating economic, social and environmental value founded by Mexican entrepreneur Ricardo Salinas.
Tata Coffee reported 20% rise in consolidated net profit to Rs 50 crore on a 6% rise in total income to Rs 538 crore in Q3 December 2020 over Q3 December 2019.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
