InvestorQ : How did the results of some big names like L&T, Titan, Axis Bank and Hero Moto turn out on 28 October?
vidhya Laxmi made post

How did the results of some big names like L&T, Titan, Axis Bank and Hero Moto turn out on 28 October?

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sarah Leo answered.
4 weeks ago
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The 28 of October was an interesting day for results with many of the bigwigs announcing their numbers on this day. Here are the highlights of some of the leading lights. We have covered only the big boys, although here were more than 30 companies from the BSE 500 that announced the results on the same day.

· Axis Bank, India’s third largest private bank, announced net interest income or NII growth of 20% to Rs.7326 crore and a net profit of Rs.1683 crore, better than last time.

· Hero Moto, the largest two wheeler maker in India, on the other hand reported an 8% growth in net profit at Rs.953 crore for the Sep-20 quarter. It was good growth overall.

· Larsen & Toubro, India’s largest engineering giant, got a profit doubler boost to Rs.5520 crore despite lower sales; largely due to the gain from the sale of electrical business division to Schneider of France, as part of the group portfolio realignment.

· Reddy Labs, which is currently working on the Sputnik vaccine, came under pressure as net profits slipped by 30% for the Sep-20 quarter.

· Another large name, Piramal Enterprises or PEL also announced a boost to its profits by 14% at Rs.628 crore as it finally got a hang over its financials business.

· Titan, the jeweller from the Tata Group, saw overall sales revenues slip by 2% to Rs.4,839 crore as the company struggled to recoup pre-COVID demand.

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