By Malvika Gurung
Investing.com -- AXIS Bank Ltd (NS: AXBK ): The private lender posted a whopping 224% rally in its standalone net profit in Q3 at Rs 3,614 crore YoY, with NII rising 17% YoY to Rs 8,653 crore, and NIM improving 14 basis points to Rs 3.5% QoQ, while its other income grew 31% to Rs 3,840 crore YoY.
SBI (NS: SBI ) Cards and Payment Services (NS: SBIC ): The credit card issuing company’s net profit surged 84% YoY to Rs 386 crore in Q3, backed by healthy card spending, reduction in bad loans and increased income from other sources.
Hero MotoCorp (NS: HROM ): The two-wheeler maker’s board has approved to invest about Rs 700 crore in the consumer banking company Hero FinCorp.
Shriram Transport Finance Company (NS: SRTR ): The NBFC’s PAT declined 6.47% in Q3 FY22 to Rs 680.62 crore YoY, despite its net interest income rising by 11.16% in the quarter. Foreign brokerage CLSA has slashed its FY22 estimates for the company by 11% due to increased credit costs while upgrading a ‘Buy’ call on the stock.
Indian Energy Exchange (NS: IIAN ): The power trading exchange has posted a 39% YoY rise in consolidated net profit at Rs 80.73 crore in Q3, backed by higher revenues.
Companies including Maruti Suzuki (NS: MRTI ), Cipla (NS: CIPL ), Pidilite Industries (NS: PIDI ), Federal Bank (NS: FED ), SRF (NS: SRFL ), Macrotech Developers (BO: MACE ), and United Spirits (NS: UNSP ), among others will release their earnings for the December quarter today.
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