RIL, HUL, ICICI Bank, Kotak Mahindra Bank in focus after earnings

24 Oct 2022 , 05:35 PM

ICICI Bank: The private lenders standalone net profit surged 37.14% to Rs 7,557.84 crore on 19.43% rise in total income to Rs 31,087.91 crore in Q2 FY23 over Q2 FY22. Kotak Mahindra Bank: The private lender reported a 27% rise in standalone net profit to Rs 2,580.68 crore on a 19.48% increase in total income to Rs 10,047 crore in Q2 FY23 over Q2 FY22. Reliance Industries (RIL): On a consolidated basis, the diversified conglomerates net profit fell 0.2% to Rs 13,656 crore on 37.3% increase in net revenue to Rs 230055 crore in Q2 September 2022 over Q2 September 2021. For the quarter, RIL achieved gross revenue of Rs 253,497 crore in Q2 FY23 compared with Rs 191,532 crore in Q2 FY22. The increase of 32.4% in gross revenue was driven by higher realization in O2C business with sharp increase in energy prices. Revenue growth also reflects continued growth momentum across consumer businesses. Meanwhile, the RIL board, at its meeting held on Friday, 21 October 2022, approved to demerge the companys financial services undertaking into Reliance Strategic Investments (RSIL). The financial services undertaking will be renamed Jio Financial Services Limited (JFSL). Shareholders will get one equity share of Jio Financial Services (JFS) for each RIL share held. Hindustan Unilever (HUL): The FMCG major reported 20% increase in standalone net profit to Rs 2,616 crore on a 16% rise in net sales to Rs 14,514 crore in Q2 FY23 over Q2 FY22. HUL delivered underlying volume growth of 4%. Growth was significantly ahead of the market with more than 75% of the business winning value and volume market shares. DLF: On a consolidated basis, net profit of DLF rose 25.88% to Rs 477.04 crore while sales declined 12.06% to Rs 1302.34 crore in Q2 September 2022 over Q2 September 2021. United Spirits: On a consolidated basis, net profit of United Spirits rose 89.55% to Rs 553.10 crore while net sales rose 16.09% to Rs 2911 crore in Q2 September 2022 over Q2 September 2021. Yes Bank: The private lender reported 32.23% decline in standalone net profit to Rs 152.82 crore despite of a 17.75% increase in total income to Rs 6,394.11 crore in Q2 FY23 over Q2 FY22. Infosys: The IT major announced it would be extending its Living Labs ecosystem to help Australian start-ups to advance their go to market. The launch event was hosted in the Infosys Living Lab in Melbourne in collaboration with its partner Telstra Ventures, a venture capital firm with over A$1.3 billion in assets under management that invests in market-leading, high growth technology companies globally. Powered by Capital Market – Live News