CEAT, IndusInd Bank, and Wipro Q1 Results

Wipro Q1 Results FY23

Wipro Q1 Results: Wipro, well known multinational corporation company in India, released Q1 results. On Wednesday, Western India Palm Refined Oils Limited published a 20.94% YoY decline in its consolidated profit after tax at Rs. 2,563.60 crores for the first quarter of FY23.

As per the reports, It posted around Rs. 3,242.60 crores in the previous financial year’s 1st quarter. Moreover, the company’s net profit dropped around 16.96% as compared to the FY22 Q4 results. It reported Rs. 3,087 crores in Q4 FY22.

The company provides Information Technology services. The revenue in the IT segment increased 13.03% to $1.9 billion Year-on-Year basis. Further, the total revenue raised 19% to Rs. 21,529 crores, under review result.

However, Wipro’s net profit may expect to decline by 3.8% QoQ and 8.1% YoY to Rs. 2,970 crores.

IndusInd Bank Q1 FY23 Result

The IndusInd bank reported positive results in Q1 of FY23. The bank has well performed in Q1 and raised 64% in standalone net profit to Rs. 1,603 crores. The total revenue stood at Rs. 10,110 crores.

Further, consolidated net profit increased over 60% to Rs. 1,631 crores on a YoY basis. As per the reports, the Bank‘s total income raised 15% to Rs. 6,057 crores in the first quarter. Profit before tax stood at Rs. 2,180 crores during the same period.

IndusInd’s NII (Net Interest Income) rose 16% to Rs. 4,125 crores and its operating profit increased around 10% to Rs. 3,431 crores.

CEAT Limited FY23 Q1 results declined

India’s leading tyre manufacturing company CEAT reported a 61% decline in its consolidated net profit. FY23 Q1’s net profit stood at Rs. 9 crores as high raw material costs affected the business.

For the first quarter of FY 2023, Revenue from operations raised Rs. 2,818 crores. It reported Rs. 1,906 crores during the same quarter a year ago.

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