Earnings

The quarterly results come as Vodafone Idea and other Indian telecom firms are pressured by government demands to pay $13 billion in overdue levies.

Yes Bank said it had received non-binding expressions of interest from JC Flowers, Tilden Park Capital Management, OHA (UK) and Silver Point Capital.

At 11:30 a.m, the shares of Bharti Airtel were trading higher by Rs 2 or 0.3 per cent at Rs 521 on the BSE amid the Sensex's gains of 0.3 per cent. The shares have touched an intra-dy high of Rs 529 and a low of Rs 515 thus far.

Punjab National Bank (PNB) said that it provided Rs 4,445.36 crore for bad loans in December quarter up form Rs 3,253.32 crore.

Average revenue per user (ARPU), the key metric of profitability for telecom companies, improved from Rs 128 in previous quarter to Rs 135 per month in December quarter.

Sales for the quarter under consideration rose 8.4 per cent to Rs 6,105.96 crore from Rs 5,632.45 crore in the same quarter last year.The jewellery business recorded income growth of 10.6 per cent at Rs 5,409 crores in the third quarter this year compared to Rs 4,890 crore in the same period last year. The income from watches saw a marginal decline at Rs 625 crore in the third quarter on account of poor sales in December. However, the eyewear business grew by 2.9 per cent to Rs 133 crore during the period.

The bank's gross non-performing assets as a percentage of total advances improved to 6.94 per cent versus 7.19 per cent in the previous quarter.

Tata Motors said its subsidiary Jaguar Land Rover continues its turnaround journey "with another strong quarter".

Maruti Suzuki's revenue from sale of products rose nearly 3 per cent to Rs 19,649.1 crore as against Rs 18,926.4 crore in the same quarter last year. The total revenue from operations advanced 5.3 per cent to Rs 20,706.8 crore versus Rs 19,668.3 crore in the year ago period.

In the October-December period of FY20, IndiGo saw its revenue from operations rising 25.5 per cent to Rs 9,931.7 crore.

The bank made Rs 2083.20 crore in provisions and contingencies, compared to Rs 4,244 crore in the year-ago quarter, which amounts to a decline of 51 per cent over. The recoveries, upgrades and other deletions, excluding writeoffs, stood at Rs 4,088 crore for the quarter, the bank said.

Axis Bank Share Price News: At 11:57 am, Axis Bank shares traded 1.40 per cent higher at Rs 722.75 apiece on the BSE, outperforming the benchmark Sensex index which was up 0.23 per cent.

The infrastructure major's Q3 gross revenue grew 6 per cent to Rs 36,243 crore; the international revenue during the quarter stood at 12,871 crore, constituting 36 per cet of the total revenue during the period. The consolidated profit after tax (PAT) from continuing operations for the quarter ended December 31, 2019 stood at Rs 2,161 crore, a growth of 13.8 per cent over the corresponding quarter of the previous year.

Axis Bank's core income - net interest income - or the difference between interest earned on loans and interest expended on deposits rose 15.16 per cent to Rs 6,453 crore.

Shares in Asian Paints briefly edged higher after the earnings announcement before returning to the negative territory.