Axis Bank, Tech Mahindra, Tata Steel in the spotlight

Axis Bank: The private lender’s net profit jumped 91% to Rs 4,125.26 crore on a 12.2% increase in total income to Rs 21,727.61 crore in Q1 FY23 compared to Q1 FY22. Net interest income (NII) increased by 21%% YoY and 6% QoQ to Rs 9,384 crore. Net interest margin (NIM) for Q1 FY23 was 3.60%, up 14 basis points year-on-year and 11 basis points quarter-on-quarter.

Tech Mahindra: On a consolidated basis, the IT major’s net profit fell by 24.8% to Rs 1,131.60 crore on a 4.9% increase in operating income to Rs 12,707.90 crore as of T1 FY23 compared to T4 FY22. EBITDA stood at Rs 1,880.10 crore in the first quarter of FY23, down 10% quarter-on-quarter (QQ) and up 0.2% year-on-year. EBITDA margin decreased to 14.8% in Q1 FY23 from 17.2% in Q4 FY22 and 18.4% in Q1 FY23.

Tata Steel: The company reported consolidated net profit of Rs 7714 crore in Q1 FY23 compared to Rs 9768 crore in Q1 FY22. Total trading revenue stood at Rs 63,430 crore in Q1 FY23 compared to Rs 53,465 crore in Q1 FY22.

Indian Energy Exchange: The company reported consolidated net profit of Rs 69.1 crore in Q1 FY23 compared to Rs 62.1 crore in Q1 FY22. Total operating income stood at Rs 113.4 crore in Q1 FY23 compared to Rs 102.9 crore in Q1 FY22.

Lupin: Lupin announced that it has received U.S. Food and Drug Administration (FDA) approval for its Abbreviated New Drug Application (ANDA), azilsartan medoxomil tablets, 40 mg and 80 mg, to market a generic equivalent of Edarbi tablets, 40 mg and 80 mg, from Azurity Pharmaceuticals, Inc. The product will be manufactured at Lupin’s factory in Nagpur.

Sonata Software: The board of directors has reviewed, approved and recommended a free issue of one share for three shares held by the shareholders of the company on the record date.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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