Wipro’s quarter 2 net profit declines to Rs 2,143 crore

New Delhi, October 17 

India’s third largest software services firm Wipro today said its consolidated net profit has declined marginally to Rs 2,143.2 crore for the quarter ended September 30, 2017.

Total income slipped 1.8% to Rs 14,134.8 crore in the quarter under review from Rs 14,407.3 crore in the year-ago period, it added.

Revenues from IT services segment, which accounts for a significant portion of the company’s topline, stood at $2.013 billion, up 2.1% sequentially.

Axis Bank’s profit rises 36% to Rs 432 crore

Private sector lender Axis Bank today reported a 36% increase in net profit at Rs 432 crore in the second quarter ended September despite rise in bad loans.

Total income increased to Rs 13,821 crore in the period under review from Rs 13,698.7 crore for the quarter ended September 30, 2016, the bank said. 

During the quarter, gross non-performing assets (NPAs) of the bank rose to 5.9% as compared to 4.17% in the same period a year ago.

ICICI Lombard profit up 19.3%

The largest private sector non-life insurer ICICI Lombard today reported a 19.3% growth in net profit at Rs 204.04 crore for the three months to September driven by an improvement in its combined ratio and lower underwriting losses.

For the general insurance arm of ICICI Bank Group, this is first quarterly result after going public last month with a successful IPO. In the year-ago quarter, the company had a profit of Rs 170.95 crore.

ACC Cement profit jumps over two-fold

Cement maker ACC Ltd today reported over two-fold jump in its consolidated net profit to Rs 181.53 crore for the third quarter ended September 30, mainly driven by increased productivity and cost optimisation.

Its consolidated sales was up 9.42% at Rs 3,140.76 crore during the quarter under review as against Rs 2,870.35 crore in the corresponding period a year ago.

Bajaj Auto Q2 profit dips marginally 

Bajaj Auto today reported a marginal decline in consolidated net profit at Rs 1,193.58 crore for the September quarter, 2017-18.

Total income of the company, however, rose to Rs 6,863.61 crore as compared with Rs 6,775.03 crore in the same period of previous fiscal, Bajaj Auto said in a regulatory filing. — PTI