Bharti Airtel reports earnings, beats estimates
Bharti Airtel, one of India's largest communications network, reported strong earnings for their first quarter. The company clocked Rs.25,573 crore in revenue, up almost 2.4 percent from the same quarter last year. The telecom company said it garnered an average revenue of Rs.196 per customer. The company witnessed a 10 percent surge in its profits to Rs.1,462 crore, beating Bloomberg estimates of Rs.1,360 crore.
Asian Paints' profits up 44%, garners revenue of Rs.4082 crore
Asian Paints declared profits of over 44 percent at Rs.622 crore for their Q1 2017 earnings results. One of the top manufacturers of paint and other related products, the company generated revenue of Rs.4,082 crores, rising up by 10.24 percent from last year. Their sturdy earnings cite nearly 98.28 percent revenues garnered from paints, while the remaining are from home improvement sales.
ITC sees surge in profits for Q1
Manufacturer of consumer goods and products, ITC reported higher earnings from their first quarter, posting net profit of Rs.2,384 crore. Although the company reported a surge in profits, it saw its revenues plunge to Rs.13,156 crore. Over 70 percent of their earnings were from consumer goods, while their hotel and hospitality range contributed 1.91 percent and around 18 percent from its agriculture business.
Hindustan Unilever's revenue expands this quarter
India's Hindustan Unilever posted revenue that increased by 2.3 percent to Rs.8,128 crore this quarter from the first quarter last year. The company's net profit rose 7.74 percent to Rs.1,174 crore. The company also said that it will set up a manufacturing unit in Assam, enabling investments of around Rs.1,000 crore. This investment will help boost production of personal care products.
Reliance Industries sees Q1 revenue, profits rally
One of India's largest conglomerate, Reliance Industries Ltd, reported strong revenue and profit figures in their first quarter earnings. The company saw its revenues surge 8.91 percent to touch Rs.64,990 crore, while its net profits increased 8.93 percent to Rs.7,464 crore. The Mukesh Ambani-led company reported maximum earnings from refining, that contributed nearly 87.04 percent of their revenue.
Tech giant Infosys reports increased revenues
Software services exporter Infosys reported higher earnings in their first quarter, stating that the company has generated Rs.16,782 in revenue, an increase of 1.4 percent from the same quarter last year. The company, although reported solid earnings, stated that its net profits had taken a fall, plunging nearly 6.31 percent to Rs.3457 crore. A major chunk of its earnings were from services and communication.
Bajaj Auto drives profits over Rs.1,000 crore
Manufacturer of motorcycles, Bajaj Auto declared its earnings results for their last quarter, reflecting a turnover of nearly Rs.6,356; an increase from last year's turnover recorded at Rs.6,188. Although the company's sales from both two wheelers and commercial vehicles dipped by 2 percent, it managed to clock profits of Rs.1,040 crores. It also stated that its domestic market share has risen to 54 percent.
HDFC Bank sees profits rise to Rs.1,361 crore
India's Housing Development Finance Coporation (HDFC) Bank reported a rise in profits amounting to almost 1.2 percent year on year. The bank witnessed a surge in its loan books, up nearly 19 percent after including the loans sold, individual loan portfolio and non-individual loans. The bank's earnings also reflected that its non-performing loans had lowered to 0.69 percent.