Management guided that demand environment is strong and is sustainable over the medium term.
Revenue jumped 91.1 percent YoY to Rs 5,585.4 crore for the said quarter against Rs 2,922.7 crore in Q1FY21.
The interest income reversal for the quarter was Rs 451 crore as compared to Rs 306 crore in the year-ago period.
The company's fourth quarter total revenue came in Rs 25,747 crore, up 17.6 percent year-on-year (YoY) on a comparable basis and 11.9 percent YoY on a reported basis.
The company paid a one-time bonus to employees in 4QFY21 amounting to around USD 100 million.
Britannia expects consumption to be normal in next 3-6 months. Factory productivity has improved to 1.07x as compared pre-COVID level, the management said.
Airtel has shown double-digit growth for the last few years on account of an efficient business model and strong demand for connectivity and solution. It continues to expand and grow in verticals such as data centres, cloud, cybersecurity, and video-conferencing among others, the company has said.
Earnings before interest, tax, depreciation and amortization (EBITDA) rose 71.5% at Rs 364 crore against Rs 212.2 crore and margin was at 18.1% versus 13%.
Overall costs would go up due to an increase in expenses such as marketing, though some cost reduction would be sustainable, the company has said.
Larsen & Toubro reported a 4.9 percent year-on-year growth in Q3 FY21 consolidated profit at Rs 2,467 crore, with receiving highest ever orders in a quarter on receipt of prestigious and large contracts.
Cost to income ratio is expected to be back to 38-39 percent in the short term but in the medium term, the management intends to bring it down again.
All the sectoral indices ended in the red. BSE Midcap and Smallcap indices fell 1 percent each.
The company's dollar revenue growth came at 3.9 percent versus 3.7 percent QoQ. The company said its dollar revenue growth was the highest in 36 quarters.
Total income grew 22 percent to Rs 2,304.90 crore in July-September 2020-21 as against Rs 1,889.30 crore in the year-ago period, Bandhan Bank said in a regulatory filing.
The bank’s operating profit for the quarter grew 16 percent year-on-year (YoY) and 18 percent quarter-on-quarter (QoQ) to Rs 6,898 crore.
The company board declared an interim dividend of Rs 7.50 per equity share.
Management sees strong traction in business, going ahead, and revised its revenue growth guidance to 2-3 percent in CC terms in FY21 (against 0-2 percent growth expected in Q1FY21).
The company's consolidated profit increased to Rs 2,465.7 crore for the quarter compared to Rs 2,390.4 crore in previous quarter.
TCS, retail cluster outperformed during the quarter despite continuous weakness in discretionary retail CPG and travel and hospitality sub vertical.
The bank is looking to reduce the concentration risk and improve the credit ratings in the corporate portfolio. Proposed capital raise is aimed to further strengthen capital of the bank.
The management do not expect much volatility in material prices in next quarter. The company will focus on core strengths, cost rationalization and cash conservation. It expects demand from Tier ll, Tier lll and Tier IV cities to continue led by good monsoon.
Company has created additional liquidity by borrowing money in advance. Around Rs 4000-5000 crore of borrowings are due for repayment and management has kept money aside for the repayment.
The bank will continue to evaluate the situation and make future reserves by assessing the situation, Axis Bank management has said.
Revenue shed 2.1 percent to Rs 2,949.2 crore versus Rs 3,011.9 crore, QoQ.
Eicher Motors reported a 44.1 percent year-on-year decline in its Q4FY20 consolidated profit due to nationwide lockdown in second half of March and overall slowdown in auto business.