Axis Bank, HUL, Bajaj Finserv in spotlight

Axis Bank's net profit dropped 18.82% to Rs 1,112.17 crore while total income remained almost flat at Rs 19,125.57 crore in Q1 June 2020 over Q1 June 2019. The private lender's profit before tax (PBT) fell 31.28% to Rs 1,427.98 crore in Q1FY21 as against Rs 2,078.18 crore in Q1FY20. Tax expense slumped 55.40% to Rs 315.81 crore in Q1FY21 compared with Rs 708.10 crore in Q1FY20.

Hindustan Unilever (HUL) reported standalone net profit of Rs 1,881 crore in Q1 June 2020 as against net profit of Rs 1,755 crore in Q1 June 2019. The FMCG major's revenue from operations stood at Rs 10,560 crore in Q1 June 2020 as against Rs 10,114 crore in Q1 June 2019. The board of directors approved a special dividend of Rs 9.50 per share. The record date is fixed as 31 July 2020.

Bajaj Finserv reported 44% rise in consolidated net profit to Rs 1,215 crore on 16% rise in total income to Rs 14,192 crore in Q1 June 2020 over Q1 June 2019. Profit before tax (PBT) stood at Rs 2,568.08 crore in Q1 FY21, up by 13.9% from Rs 2,255.24 crore in Q1 FY20. Total tax expense fell 19.37% YoY to Rs 645.86 crore during the quarter.

Wipro Gallagher Solutions (WGS), a Wipro company announced its partnership with EXOS Technologies, a division of ServiceLink. EXOS' cutting-edge platform provides techenabled mortgage services throughout the lending life cycle. By combining EXOS with WGS' NetOxygen Launchpad and NetOxygen LOS systems, lenders will experience the first-ever fully integrated, end-to-end digital mortgage solution.

BEML received order from MoD for supply of 1,512 Track Width Mine Plough (TWMP) for T-90 S/SK Tanks at an approximate cost of Rs 557 crore.

Larsen & Toubro (L&T), Bajaj Auto, Bajaj Holdings will declare their April - June 2020 quarterly results today, 22 July 2020.

IndiaMART InterMESH reported 128.7% rise in consolidated net profit to Rs 74.10 crore on 15.59% rise in total income to Rs 186.80 crore in Q1 June 2020 over Q1 June 2019.

Polycab India reported 12.57% fall in consolidated net profit to Rs 117.60 crore on 48.62% fall in total income to Rs 1,019.94 crore in Q1 June 2020 over Q1 June 2019.

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