Market Commentary - Stock Alert
Axis Bank, Tech Mahindra, Wipro, ACC to react to their results As on : 28-Apr-23  08:20

Axis Bank: The private lender reported a net loss of Rs 5,728.42 crore in Q4 FY23 as against a net profit of Rs 4,117.77 crore in Q4 FY22. Total income increased 31.2% year on year (YoY) to Rs 28,865.08 crore in the quarter ended 31 March 2023.

Net profit (excluding exceptional items) grew by 61% YoY to Rs 6,625 crore in Q4 FY23 and jumped 68% YoY to Rs 21,933 crore FY23. Exceptional items during the quarter and year ended 31 March 2023, aggregated to Rs 12,490 crore.

Tech Mahindra: The IT major's consolidated net profit declined 13.8% to Rs 1,117.7 crore in Q4 FY23 as against Rs 1,296.6 crore posted in Q3 FY23. Revenue from operations fell marginally to Rs 13,718.2 crore in Q4 FY23 as against Rs 13,734.6 crore recorded in Q3 FY23. On a year on year (YoY) basis, Tech Mahindra's net profit tumbled 25.77% while revenue jumped 13.22% in Q4 FY23.

Wipro: The IT major's consolidated net profit rose 0.71% to Rs 3,074.5 crore on 0.17% decline in revenue form operations to Rs 23,190.3 crore in Q4 FY23 over Q3 FY23. On a year on year (YoY) basis, the IT firm's net profit declined 0.41% while revenue jumped 11.17% in Q4 FY23.

Meanwhile, the company's board has approved a share buyback of upto Rs 12,000 crore at a price of Rs 445 per equity share through tender offer route, on a proportionate basis.

LTIMindtree: The company's consolidated net profit rose 11.3% to Rs 1114.1 crore on 0.8% rise in revenue to Rs 8691 crore in Q4 FY23 over Q3 FY23. The board of directors recommended a final dividend of Rs 40 per equity share for the financial year ended 31 March 2023.

ACC: The cement major reported consolidated net profit of Rs 236 crore in Q4FY23 as compared to net profit of Rs 396 crore in Q4FY22. Net revenue rose to Rs 4791 crore from Rs 4427 crore.

Godrej Consumer Products (GCPL): GCPL announced that it has entered into an agreement to acquire the FMCG business of Raymond Consumer Care Limited (RCCL), a leading player in the deodorants and sexual wellness categories in India. Cost of acquisition is Rs 2825 crore.

HFCL: The company along with its material subsidiary, HTL, has received the purchase orders aggregating to about Rs 65.72 crore from Reliance Retail for supply of optical fiber cables to one of the leading private telecom operators of the country.

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