Business
Last Friday, after market hours, Mukesh Ambani-owned Reliance Industries Limited reported a 5.5% year-on-year (Y-o-Y) fall in consolidated profit to Rs 15,138 crore in Q1FY25.
HDFC Bank reported a 35% year-on-year increase in net profit to Rs 16,175 crore for the June quarter, exceeding Bloomberg's consensus net profit forecast of Rs 15,652.
Last Friday, IT firm Wipro posted a Q1FY25 net profit of Rs 3,036.6 crore, up 5.2% year on year and 6.2% quarter on quarter. It outperformed Bloomberg forecasts of Rs 2,931 crore.
Kotak Mahindra Bank recorded a consolidated net profit of Rs 7,448 crore and they earned from selling a 70% interest in Kotak General Insurance Company to Zurich Insurance Group.
YES Bank's net profit for Q1FY25 increased by 46.7% to Rs 502 crore, thanks to strong net interest income (NII) growth and reduced provisions.
The mining group founded by Anil Agarwal has raised Rs 8,500 crore through the QIP route, according to an exchange filing.