Newsmakers: RIL, Axis Bank earnings; 4G trials and more

Private sector lender Axis Bank on Friday  reported a 18.70 per cent growth in net profit at Rs 1,978.44 crore for the first quarter ended June 30. The bank earned a net profit of Rs 1,666.76 crore in the April-June quarter of last fiscal as the total income of the bank improved to Rs 12,234.41 crore  against Rs 9,980.47 crore in the same period last year.

Even as Nestle India continues to battle the ban on Maggi , the company's India CEO, Etienne Benet has decided to step down on July 25. The company, in a filing to the Bombay Stock Exchange, said Suresh Narayan, who is currently Chairman and CEO, Nestle Philippines, will officially take over India operations on August 1. Until then, he will function as a designate.

Reliance Industries Ltd (RIL) posted a net profit (consolidated) of Rs 6,222 crore for the quarter ending June 2015. The company reported net profit of Rs 6,381 crore in Q4 of last fiscal and Rs 5,957 crore for the quarter ending June 2014.

Telecom major Bharti Airtel and Vodafone rolled out their fourth generation (4G) trials in select areas. While Vodafone has not shared details of the areas where it is conducting the trials, Bharti Airtel has rolled out the service in Rourkela (Odisha) and Karantaka's Manipal, Udupi and Tumkur.