Q1 2020 results are out and we have consolidated & categorized the data for Top Indian Companies as COVID hit vs COVID proof. In this article, companies who have made profit during the pandemic will be quoted as COVID proof whereas for loss/ decrease in profits as COVID hit.
If you have not read about Top 6 sectors impacted due to C-19, read here.
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| Individual Pic credit - Google Images |
Infosys [COVID proof]
Company reported consolidated net profit at Rs. 4,233 crore which is 11.4% growth in comparison to last year's same quarter performance.
"Our Q1 results, especially growth, are a clear testimony to the relevance of our service offerings & deep understanding of clients' business priorities which is resonating with them in these times. It also demonstrates the remarkable dedication of our employees & leadership during this period," said Salil Parekh, CEO & MD of Infosys.
Reliance Industrial Infrastructure Ltd [COVID hit]
Company reported consolidated net profit at Rs. 2.05 crore which is 2% lower in comparison to last year's same quarter performance.
"The Company has taken into account the possible impacts of COVID-19 in preparation of the standalone financial results, including but not limited to its assessment of liquidity and going concern assumption, recoverable values of its financial & non-financial assets, impact on revenues & on cost budgets," the company said.
HDFC Bank [COVID proof]
Company reported net profit at Rs. 6,658.62 crore which is 19.58% higher in comparison to last year's same quarter performance.
"The continued slowdown in economic activity has led to a decrease in retail loan origination, sales of 3rd party products, use of credit & debit cards by customers, efficiency in collection efforts & waivers of certain fees. As result, fees or other income were lower by approx Rs. 1,000 crore," the company said.
HCL Technologies [COVID hit]
Company reported net profit at Rs. 2,925 crore which is 7.3% lower in comparison to last year's same quarter performance.
"We are living in unprecedented times where organisations & people across geographies are dealing with challenges related to the pandemic. However, this has also pushed businesses to accept the pandemic as a catalyst for change & look at building agility & resilience into every level of their organisation. HCL, along with its partners, is helping customers to embrace digital transformation & innovation to emerge stronger in this new normal. I am confident that, with decisive action leveraging digital momentum & sustainable business practices, we will together emerge as stronger entities.", said Shiv Nadar, former Chairman of HCL Technologies.
Britannia Industries [COVID proof]
Company reported net profit at Rs. 545.70 crore which is 117% higher in comparison to last year's same quarter performance.
"Given the dynamic nature of the pandemic & associated uncertainty, we were quick to resort to cost efficiencies through extraction of supply chain efficiencies, reduction in wastage & fixed costs leverage. We are also rationalized media spends considering the constraints of inventories due to higher market demand. These measures helped us improve the shape of our business & record a massive increase in operating profit during the quarter," Varun Berry, MD said.
Century Textiles & Industries [COVID hit]
Company reported total income Rs. 409.74 crore which is 53.68% lower in comparison to last year's same quarter performance.
"This was a challenging quarter & while we recoup from the impact of the pandemic, our focus remains on creating value for our stakeholders. We are focusing on digitization & consumer connect during trying times," Managing Director JC Laddha said.
The Last Lines ~
Apart from severe competition in the industry, this is the real time when companies compete with their own strategies to remain in the market. Hope you liked our Proof vs Hit comparison, you can express yourself in the comment section to motivate us ;)
Stay Classy !
This Blog shortens the detailed topics to help readers and does not give any sort of opinions.
Source : Economic Times, Live Mint & Bloomberg Quint
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