| News you could use ? Infosys profit up 3.2% for Q1FY23, Raises revenue guidance Infosys declined 0.23%. The IT major’s consolidated net profit dropped 5.7% to Rs 5360 crore on 6.8% rise in revenue to Rs 34470 crore in Q1 FY23 over Q4 FY22. On a year on year (YoY) basis, Infosys’ net profit and revenue in Q1 FY23 increased 3.2% and 23.6%, respectively. In dollar terms, the company reported revenues of $4,444 million, registering a growth of 17.5% YoY for the quarter ended 30 June 2022.
? Kotak Mahindra bank misses net profit estimates despite higher core income Kotak Mahindra Bank fell 1.74%. The bank reported 26% rise in standalone net profit to Rs 2071 crore on 19% rise in net interest income to Rs 4697 crore in Q1 June 2022 over in Q1 June 2021. Profit before tax advanced 26.2% year on year to Rs 2,759.67 crore in Q1 June 2022.
? Tata Steel consolidated profit falls 13% yoy On a sequential basis, the PAT witnessed a decline of 20.4 percent from Rs 9,756 crore achieved during the January – March quarter. The performance for the quarter was impacted by the higher pet coke prices which resulted in an increase in operating costs, while the export duty imposed by the Government of India, choked up the exports which had a negative impact on the volumes. |