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L&T, Axis Bank in focus on declaring Q3 December 2019 results
23-Jan-20   08:29 Hrs IST

Larsen & Toubro reported 15.21% rise in consolidated net profit to Rs 2,352.12 crore on 5.55% rise in total income to Rs 36,908.94 crore in Q3 December 2019 over Q3 December 2018. Q3 order inflow grew 2% and for the nine months order inflow grew 11% largely driven by International business. For the nine months ended December 2019, order book grew 9% to Rs 3,06,300 crore.

Axis Bank reported 4.53% rise in net profit to Rs 1,757.00 crore on 7.53% rise in total income to Rs 19,494.87 crore in Q3 December 2019 over Q3 December 2018. As on 31 December 2019, the Bank's Gross NPA and Net NPA levels were 5.00% and 2.09% respectively, as against 5.03% and 1.99% respectively as on 30 September 2019.

ITI said that the company has fixed a price band of Rs 72-77 a share for its follow-on public offer. The FPO comprises fresh issue of up to 18 crore equity shares. Besides, an additional issue constituting up to 18 lakh shares will be reserved for employees. The issue will open on 24 January 2020 and close on 28 January 2020. At the higher end of the price band at Rs 77 per share, the company will garner Rs 1,386 crore from the FPO.

RBL Bank reported 68.94% fall in net profit to Rs 69.95 crore on 31.36% rise in total income to Rs 2,644.30 crore in Q3 December 2019 over Q3 December 2018.

Raymond reported 419.91% rise in consolidated net profit after exceptional items to Rs 195.28 crore on 21.01% rise in total income to Rs 2,063.99 crore in Q3 December 2019 over Q3 December 2018. Net Profit excluding onetime gains of Rs 160 crore fell 8% to Rs 36 crore. The company reduced debt by Rs 415 crore during the quarter, led by Rs 350 crore infusion from net proceeds of land sale.

Ceat reported 0.04% rise in consolidated net profit to Rs 52.79 crore on 1.72% rise in total income to Rs 1,769.98 crore in Q3 December 2019 over Q3 December 2018. The company will be commissioning Chennai & Nagpur plants in the fourth quarter.

AU Small Finance Bank reported 99.52% rise in net profit to Rs 190.20 crore on 42.33% rise in total income to Rs 1,272.83 crore in Q3 December 2019 over Q3 December 2018. It opened 16 Bank branches in Delhi, Haryana, Punjab, Maharashtra, Madhya Pradesh and Rajasthan in Q3.

Karnataka Bank has informed that a meeting of board of directors will be held on 27 January 2020, to consider various options for capital augmentation.

Tata Communications reported 66.22% fall in consolidated net profit to Rs 58.54 crore on 1.07% fall in total income to Rs 4,242.69 crore in Q3 December 2019 over Q3 December 2018.

Cipla has informed that that the United States Food and Drug Administration (USFDA) has classified the inspection conducted at its Goa manufacturing facility from 16-27 September 2019 as Official Action Indicated (OAI). The company does not believe that this will have any material impact on the US business at this stage. The company has a strong track record of maintaining the highest standard of compliance and will work closely with the agency to comprehensively address the observations received.

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