Wipro, IndusInd Bank, SBI, Tata Communications in focus

Wipro: The IT major's consolidated net profit dropped 16.96% to Rs 2,563.6 crore in Q1 FY23 as against Rs 3,087.3 crore in Q4 FY22. Revenue from operations increased 3.21% quarter on quarter (QoQ) to Rs 21,528.6 crore in Q1 FY23 over Q4 FY22.

For the quarter ending 30 September 2022, Wipro expects revenue from IT Services business to be in the range of $2,817 million to $2,872 million. This translates to a sequential growth of 3% to 5%.

IndusInd Bank: IndusInd Bank reported 64% rise in standalone net profit to Rs 1,603 crore on a 9% increase in total income to Rs 10,110 crore in Q1 FY23 over Q1 FY22.

State Bank of India (SBI): The Central Board of the bank has approved raising of capital by way of issuance of Basel III compliant debt instrument in USD/INR and/or any other convertible currency, during FY23. The bank will raising fresh additional Tier 1 (AT1) capital of Rs 7,000 crore, and fresh Tier 2 capital of Rs 4,000 crore.

Tata Communications: The company reported consolidated net profit to Rs 544.82 crore in Q1 FY23 from Rs 296.90 crore in Q1 FY22. Total income stood at Rs 4,544.51 crore in Q1 FY23 from Rs 4,116.14 crore in Q1 FY22.

Gland Pharma: Gland Pharma's consolidated net profit declined 35% to Rs 229.2 crore on 26% fall in revenue from operations to Rs 856.9 crore in Q1 FY23 over Q1 FY22.

Zydus Lifesciences: The drug maker said it received final approval from the US drug regulator to market Norepinephrine Bitartrate Injection USP,4 mg/4 mL (1 mg/mL) single-dose vial.

Sonata Software: The company said the board on 25 July 2022 may consider proposal for issue of bonus shares.

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