Data showed that 10 Nifty companies logged more than 100% growth in net profit in Q1FY22, while eight companies turned around
Kohinoor Foods, Mazda, Midhani, Oil India, PFC, Redington, TIL and Trident are slated to announce their June quarter results on August 12.
On a sequential basis, the company's net profit declined over 62% from Rs 759.2 crore in the March quarter.
Traders will be eyeing lots of important earnings announcements scheduled for the week
Revenue from operations rose by 50.25% to Rs 6,978.24 crore during the quarter compared to Rs 4,644.17 crore in the April-June quarter of 2020
The fall in net profit is attributable to a rise in total expenses which came at Rs 1,31,284 crore in Q1FY21
HDFC Life Insurance has set up an additional reserve of Rs 700 crore to service the claims intimations expected to be received.
Provision and contingencies for the quarter ended June 30 came at Rs 4830.80 crore as against Rs 3891.50 crore for the corresponding quarter last year
HDFC AMC, Just Dial and L&T Finance Holdings are slated to announce their financial results on Friday.
Mindtree is a global technology consulting and services company. It is now a Larsen & Toubro Group Company.