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Bharti Airtel, Hero MotoCorp, Tata Motors in focus

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Bharti Airtel reported a net loss of Rs 763.20 crore in Q2 September 2020, lower than net loss of Rs 23,045 crore in Q2 September 2019. Consolidated revenues jumped 22% to Rs 25,785 crore in Q2 September 2020 over Q2 September 2019. Pre-tax profit (before exceptional items) stood at Rs 567 crore in Q2 September 2020 as against a pre-tax loss (before exceptional items) of Rs 623 crore in Q2 September 2019.

Hero MotoCorp on Tuesday said that it will sell and service Harley-Davidson motorcycles, and sell parts & accessories and general merchandise riding gear and apparel through a network of brand-exclusive Harley-Davidson dealers and Hero's existing dealership network in India. It added that as part of a licensing agreement, Hero MotoCorp will develop and sell a range of premium motorcycles under the Harley-Davidson brand name.

Tata Motors reported a consolidated net loss of Rs 314.45 crore in Q2 September 2020, higher than net loss of Rs 216.56 crore in Q2 September 2019. Net sales during the quarter declined 18.4% year-on-year (YoY) to Rs 52,839.02 crore.

ICICI Bank said it has via its legal counsel received a communication from the United States Securities and Exchange Commission (SEC) that they have concluded their investigation into the Bank's loan impairment provisions under US GAAP and that the SEC does not intend to take any enforcement action against the Bank.

ICICI Prudential Life Insurance Company reported 0.21% rise in consolidated net profit to Rs 302.46 crore on 102.08% rise in total income to Rs 17,005.64 crore in Q2 September 2020 over Q2 September 2019.

Nippon Life India Asset Management reported 6.21% rise in consolidated net profit to Rs 145.31 crore on 0.07% fall in total income to Rs 322.36 crore in Q2 September 2020 over Q2 September 2019.

Castrol India reported 8.6% rise in net profit to Rs 204.60 crore on 3.95% rise in total income to Rs 894.80 crore in Q2 September 2020 over Q2 September 2019.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Wed, October 28 2020. 08:28 IST
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