Nestle India, IndusInd Bank, TCS to be watched

IndusInd Bank standalone net profit slumped 67.84% to Rs 460.64 crore on 0.65% rise in total income to Rs 8,680.92 crore in Q1 June 2020 over Q1 June 2019. Profit before tax (PBT) dropped 72.11% to Rs 602.45 crore. Tax expense tanked 80.51% to Rs 141.81 crore.

The private lender's board approved issuing over 4,76,29,768 equity shares on preferential basis at issue price of Rs 524 per share to Route One Offshore Master Fund LP Route One Fund I LP, ICICI Prudential Life Insurance Company, Tata Investment Corporation and AIA Company. The board also approved issuing over 1,51,17,477 equity shares on preferential basis at Rs 524 per share to promoter IndusInd International Holdings and Hinduja Capital (non-QIBs).

Bharti Airtel, Maruti Suzuki India, Dr Reddy's Laboratories, TVS Motor Company, InterGlobe Aviation, Colgate-Palmolive (India) and GlaxoSmithKline Pharmaceuticals will announce their April-June their quarterly results today, 29 July 2020.

Nestle India reported a 11.15% rise in net profit to Rs 486.6 crore in Q2 June 2020 from Rs 437.79 crore in Q2 June 2019. Revenue from operations stood at Rs 3050.48 crore in Q2 June 2020, rising 1.66% from Rs 3000.85 crore in the same period last year. Profit before tax declined 1% to Rs 652.27 crore in Q2 June 2020 over Q2 June 2019. Total tax expense declined 25% year on year to Rs 165.67 crore in Q2 June 2020.

Tata Consultancy Services (TCS) and Zinier, the leader in intelligent field service automation, announced the launch of a digital solution to help field service organizations quickly adapt to unexpected disruptions to essential workforces and services to ensure business continuity.

Yes Bank's net profit tumbled 60.1% to Rs 45 crore in Q1 June 2020 from Rs 114 crore in Q1 June 2019. Total income of the bank fell 32.8% on a year-on-year (YoY) basis to Rs 6,106.74 crore in the June 2020 quarter.

Sanofi India's net profit rose 39.94% to Rs 136.30 crore on 3.95% fall in total income to Rs 740.80 crore in Q1 June 2020 over Q1 June 2019.

RBL Bank's standalone net profit slumped 47.12% to Rs 141.22 crore on 2.57% rise in total income to Rs 2,568.32 crore in Q1 June 2020 over Q1 June 2019.

Castrol India's standalone net profit slumped 64.2% to Rs 65.40 crore on 52.08% fall in total income to Rs 505.80 crore in Q2 June 2020 over Q2 June 2019.

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