Sunday, April 20
Infosys delivered better than expected revenue and net profit growth for the December 2024 quarter while meeting the margin expansion anticipated by analysts on average. The company’s upward revision in the FY25 revenue guidance was also higher than expected owing to a faster recovery in discretionary spends across banking, financial services and insurance (BFSI), and retain and consumer verticals. The country’s second largest IT exporter increased the headcount for the second consecutive quarter on a sequential basis and expects to add more freshers in the next fiscal year than in the current year.These factors and a sustained deal flow hint at a higher business momentum in the coming financial year. Infosys stock has gained twice as much the large peer Tata Consultancy Services (TCS)
Axis Bank on Thursday reported a consolidated net profit growth of 3.8% for the quarter ended December 31, 2024, to Rs 6,304 crore versus Rs 6,071 crore posted in the year-ago period. It was below ET Now poll estimates of Rs 6,434 crore.Axis Bank earned interest income of Rs 30,954 crore in Q3FY25, witnessing an 11% gain over Rs 27,961 crore posted in the year-ago period.Meanwhile, it paid Rs 17,348 crore as interest in the reported quarter, up 12% over Rs 15,429 crore paid in the year-ago period.On a sequential basis, the profit after tax (PAT) was lower by 9% over Rs 6,918 crore in Q2FY25. 117299520Asset quality stableThe GNPA stood at 1.46% and declined by 12 bps YoY while the NNPA was reported at 0.35% flat YoY and QoQ.NII/NIMThe net interest income (NII) grew 9% YoY to Rs 13,606 cr
