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Hero MotoCorp, L&T, Axis Bank, Infosys, Wipro in focus

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Hero MotoCorp reported 8.99% rise in consolidated net profit to Rs 958.49 crore on 22.73% rise in total income to Rs 9,620.22 crore in Q2 September 2020 over Q2 September 2019.

On a consolidated basis, Larsen & Toubro (L&T)'s net profit surged 118.43% to Rs 5520.27 crore on 12.15% decline in net sales to Rs 31034.74 crore in Q2 September 2020 over Q2 September 2019.

Profit was boosted due to divestment of Electrical & Automation (E&A) business to Schneider Electric SE on 31 August 2020. Profit after tax from discontinued operations for the quarter and six months ended 30 September 2020 includes gain on divestment Rs 8101.04 crore (net of tax).

Axis Bank reported net profit of Rs 1,682.67 crore in Q2 September 2020 as compared to net loss of Rs 112.08 crore in Q2 September 2019. Total income rose 2.77% to Rs 19,870.07 crore in Q2 September 2020 over Q2 September 2019.

Infosys announced that it has completed the acquisition of Blue Acorn iCi, an Adobe Platinum partner in the US, and a leader in digital customer experience, commerce and analytics. This follows the announcement the company made on 8 October 2020.

Wipro announced that it has signed a definitive agreement to acquire Encore Theme Technologies Private Limited (Encore Theme), a specialist in providing SaaS and Cloud solutions in financial services.

RBL Bank's net profit surged 165% to Rs 144 crore in Q2 September 2020 from Rs 54 crore in Q2 September 2019. Net interest income rose 7% to Rs 932 crore in the second quarter from Rs 869 crore in the same period last year.

Separately, RBL Bank said that the Reserve Bank of India had granted its approval to Maple II B.V., for acquiring more than 5% but up to 9.99% of the paid up share capital of the bank.

AU Small Finance Bank reported 87.2% rise in net profit to Rs 321.88 crore on 26.51% rise in total income to Rs 1,498.15 crore in Q2 September 2020 over Q2 September 2019.

Thyrocare Technologies reported 22.82% rise in consolidated net profit to Rs 43.05 crore on 33.01% rise in total income to Rs 158.24 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: Thu, October 29 2020. 08:40 IST
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