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Financial results summary: Everest, AXIS, Arch reveal numbers

For the three months ended September 30, net income available to Arch common shareholders stood at $6.9 million – a dive from $388.8 million for the same period in 2021. Meanwhile after-tax operating income available to Arch common shareholders slid from last year’s $294.7 million to $106 million this time around. Both the insurance and … Read more

Axis Bank’s Q2 net profit jumps 70% to Rs 5,330 cr as provisions slide

Private sector lender Axis Bank on Thursday reported a 70 per cent jump in standalone net profit at Rs 5,329.77 crore in the July-September quarter of FY23 on healthy core income supported by fall in bad loans. Also, the income from investments during the quarter rose by 27 per cent, adding to … Read more

Top headlines: Axis Bank Q2 net jumps 70%; Bajaj Finance Q2 net surges 88%

Axis Bank’s Q2 net profit jumps 70% to Rs 5,330 cr as provisions slide Private lender Axis Bank reported a better-than-expected 70% jump in second-quarter profit on Thursday, as bad loan provisions slid and asset quality improved. Net profit rose to Rs 5,330 crore in the three months to Sept. 30 … Read more

Axis Bank Q2 preview: Profit may rise over 40% YoY on low provisions

Axis Bank Q2 preview: Axis Bank, which is slated to report its September quarter (Q2) result for fiscal 2022-23 (FY23) on Thursday, October 20, is expected to post net profit growth of over 40 per cent year-on-year, brokerages noted. On a quarterly basis, it could see an improvement of at least 8 per cent. … Read more

Axis Energy Ventures commissions 445-MW solar plant in Rajasthan

Axis Energy Ventures India on Saturday said it has commissioned a 445 MW solar plant in partnership with Brookfield Renewables in Rajasthan. In a statement, Axis Energy Ventures India Private Limited said the project is part of the joint venture platform ‘ABC Renewables’ — signed with Brookfield Renewables — … Read more

Daiki Axis Japan setting up second unit in India at Rs 200-cr investment

Water treatment solutions provider Daiki Axis Japan is setting up its second plant in India at Haryana with an investment of Rs 200 crore, a company official said. The plant with a capacity to produce 1,000 sewage treatment units with Japanese “Johkasou” technology is coming up in Palwal, Kamal … Read more

Sebi searches 16 ‘suspected entities’ in Axis MF front-running case

The Securities and Exchange Board of India (Sebi) this week searched multiple premises associated with 16 “suspected entities”, as it probes a front running case at Axis Mutual Fund. The searches covered more than 30 locations in multiple cities in Maharashtra and Gujarat, said a regulatory official. Officials of fund … Read more

Axis AMC sacks chief dealer Viresh Joshi facing font-running investigation

Axis Mutual Fund sacked its chief dealer Viresh Joshi, who was being investigated for irregularities, according to a report in the Economic Times. “Axis AMC has been conducting a suo moto internal investigation since February 2022, using reputed external advisors to assist with this ongoing investigation. Further to our investigation, … Read more