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ICICI Bank Q1FY23 result: Net profit increases 49.59% to Rs 6,905 crore

ICICI Bank on Saturday has reported a growth of 49.59 per cent in net profit to Rs 6,904.94 crore for the quarter ending June 30, 2022 (Q1FY23) period, compared to Rs 4,616.02 crore in the corresponding period last year. The company's profit after tax (PAT), however, declined from Rs 7,018.71 crore recorded in the preceding quarter. Its net interest income (NII) rose 21 per cent year-on-year (y-o-y) to Rs 13,210 crore compared with Rs 10,936 crore in the same quarter last year.

Infosys disappoints on profit, ups FY23 revenue growth guidance to 14-16%

Infosys’ first quarter results for FY23 beat Street estimates for revenue growth but the IT services major disappointed on margin performance because of higher talent costs. Its net profit for Q1FY23 was below expectations at Rs 5,360 crore, up 3.2 per cent year-on-year (YoY) but was down 5.7 per cent sequentially. Despite an uncertain macro-economic environment and talks of a recession in key economies, including the US, Infosys has upped its FY23 revenue growth guidance to 14-16 per cent, from the earlier projection of 13-15 per cent.

YES Bank Q1 profit rises 50% to Rs 311 cr on account of income growth

YES Bank on Saturday reported 50 per cent increase in net profit at Rs 311 crore for June quarter 2022-23 on fall in provisions for bad loans, and healthy income growth. The bank had clocked a net profit of Rs 207 crore in the year-ago period, it said in a regulatory filing. Total income during the quarter rose to Rs 5,916 crore as against Rs 5,394 crore in the same period of 2021-22.

RIL Q1 net profit surges 46% YoY to Rs 17,955 crore; revenue jumps 57%

Mukesh Ambani-led Reliance Industries (RIL) on Friday reported a consolidated net profit (attributable to the company’s owners) of Rs 17,955 crore for the quarter ended June 30, 2022 (Q1), up 46.3 per cent over the year-ago period, but fell well short of expectations. A poll of analysts by Bloomberg had estimated net profit at Rs 21,615 crore in Q1.

Happiest Minds profit rises 58% to Rs 56.34 crore in June quarter

IT company Happiest Minds on Friday posted a 57.7 per cent increase in consolidated profit after tax at Rs 56.34 crore in the June quarter. The company had reported a profit of Rs 35.73 crore in the year-ago period. The consolidated revenues from contracts with customers of the company grew 34.5 per cent to Rs 328.92 crore during the quarter under review. The same stood at Rs 244.61 crore in the year-ago period.

Vardhman Textiles Q1 reports net profit of 4.13% to Rs 313.35 crore

Vardhman Textiles Limited on Saturday reported a net profit of Rs 313.35 crore for the quarter ending June 30, 2022 (Q1FY23) as against Rs 300.92 crore in the corresponding quarter of previous year, an increase of 4.13 per cent, on standalone basis. The top line of the company is Rs 2,731 crore which is higher by 44.25 per cent over the corresponding quarter of the previous fiscal. The EBIDTA margin for the Q1 FY 2022-23 stands at 19.36 per cent as against 26.55 per cent during the corresponding quarter of the previous fiscal year.

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