ASAHI INDIA GLASS LTD Q1 RESULTS
HCLTech headcount dips by 8,080 in Q1FY25
HCLTech experiences a notable increase in employee count by 8,080 for the quarter ending June, reaching a total of 219,401 employees. Meanwhile, TCS adds 5,452 employees, reversing headcount reduction trend. HCLTech reports a 20.4% YoY increase in net profit for Q1FY25.
HCLTech Q1 net profit up 6.8% at Rs 4,257 crore; beats estimates
HCLTech's profit rose 6.8% to Rs 4,257 crore, driven by $70 million non-core income. EBIT, revenue declined. TCS earnings boosted stocks. CEO Vijayakumar noted Q2 State Street impact, steady FY25 guidance. Dividend declared. Headcount fell by 8,080, Q3 margins to improve. $1.96 billion bookings, 200 GenAI concepts. CFO Prateek Aggarwal cited robust cash flow. Shares closed at Rs 1560.40.
IREDA Q1 Results: PAT jumps 30% YoY to Rs 384 crore, revenue surges 32%
IREDA Q1 Results: The state-run NBFC saw a significant increase in loan sanctions, up 387% to Rs 9,210 crore compared to Rs 1,892 crore in the same period last year. Loan disbursements also rose by 68%, reaching Rs 5,326 crore compared to Rs 3,173 crore in the previous year.
HCLTech Q1 result; Nasscom on Karnataka gig workers’ bill
India’s third IT major HCLTech’s Q1 profit is up 20% to Rs 4,257 crore. This and more on today’s ETtech Top 5.
TCS announces interim dividend of Rs 10 per share, fixes record date
TCS shares will begin trading without the upcoming dividend included in the stock price on or before the record date. This change impacts which shareholders are eligible to receive the dividend payment, announced alongside the company's Q1 results showing an 8% increase in consolidated net profit to Rs 12,105 crore.
TCS shares surge 7% on strong Q1 show, lifting D-Street to fresh record highs
TCS Share Price: Shares of TCS surged 6% to Rs 4,169 in early NSE trading after reporting higher-than-expected earnings for the June quarter. Jefferies upgraded TCS and raised its price target, while CLSA and JPMorgan maintained ratings with higher targets. Domestic analyst Nuvama also increased its target price.
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We are happy with Q1 results but not in a position to say TCS is on a growth path again: CEO
TCS foresees FY25 outperforming FY24, leveraging AI and cost optimization despite market volatility, BFSI challenges, and election impacts. With Q1 achievements, reduced attrition, strategic headcount growth, and strong India business, performance remains robust. Investments in talent, discretionary project validation, and technology adaptation sustain a healthy order book, even amid fewer mega deals and extended decision-making cycles.
TCS, Infy power D-Street to fresh record highs! Sensex soars 900 points, Nifty tops 24,500 for the first time
Indian markets rose Friday, led by TCS's strong June quarter. Sensex climbed 281 points, Nifty50 up 93 points. Stocks like TCS, Infosys, and Adani Ports surged. Maruti fell. US inflation data raised September Fed rate cut chances, noted by CME FedWatch. RBI's Das predicted 5% retail inflation. Powell's testimony hinted at possible rate cuts.
How will TCS stock perform post its Q1 results? Sandip Sabharwal answers
The results do not do much for the stock. It creates a moderate upside in the near term in my view because the TCV order bookings were strong over the last two quarters. This quarter has been a bit lower than expected, but then the past orders could start getting implemented going forward.
TCS Q1 profit rises 8.7%; wage hikes, demand slump drag sequential numbers
TCS's June quarter net profit decreased 3.16% to Rs 12,040 crore due to wage hikes for its 600,000-plus workforce; net profit increased 8.7% YoY. Revenue rose 5.4% to Rs 62,613 crore. BSNL deal drove 61.8% India growth. The deal pipeline is $8.3 billion, AI projects at $1.5 billion. Operating margin is 24.7%. Interim dividend Rs 10 per share.
HCL Tech Q1 Results Preview: PAT may grow 6% YoY to Rs 3,745 crore, revenue uptick seen at 6.5%
Revenue for the quarter is projected to be Rs 27,997 crore, marking a 6.5% increase over the same quarter of the previous financial year, according to average estimates. Although the company is expected to report year-on-year growth in profit after tax (PAT), a sequential decline is anticipated due to project completions and reduced discretionary spending.
TCS reverses headcount trend, adds 5,452 employees in Q1 FY25
TCS's Q1 FY25 net employee count grew by 5,452 to 606,998, as per stock exchanges. Post a 13,249 reduction in FY24 (first annual drop in 19 years) and a Q4FY24 staff cut. Consolidated net profit declined 3.16% QoQ to Rs 12,040 crore but increased YoY from Rs 11,074 crore. March and previous quarter noted 12.1% attrition.
TCS Q1 results; Pine Labs, Swiggy valuations slashed
Indian IT bellwether TCS kicked off the tech earnings season with a 9% YoY growth in net profit for the June quarter. This and more on today's ETtech Top 5.
TCS Q1 Results: Cons PAT rises 9% YoY to Rs 12,040 crore, beats estimates
TCS Q1 Results: IT bellwether TCS reported a 9% YoY growth in its June quarter consolidated net profit, reaching Rs 12,040 crore, compared to Rs 11,120 crore in the same quarter last financial year. This profit exceeded the Street estimate of Rs 11,900 crore. Additionally, the company's board recommended a dividend of Rs 10 per share.
D-Street's cooling earnings momentum set to challenge stock rally
HDFC Bank Ltd. and Bank of Baroda Ltd. posted a sequential drop in credit growth, suggesting that lenders — who have the highest weighting in the index are struggling to keep up the rapid expansion seen in recent years.
Q1 results today: TCS, Anand Rathi Wealth among 17 companies to announce earnings on Thursday
Tata Consultancy Services (TCS) and 16 other companies, including Akme Fintrade, will report Q1 results on Thursday. TCS anticipates an 8% profit rise. Prabhudas Lilladher and ICICI Securities provided top estimates. Kotak Equities predicts 5% sales growth. Revenue growth from strong orders; weakness in financial services. EBITDA up 10%; wage revision affects EBIT margins; sequential growth; weak telecom revenues expected.
Ajay Vora expects 16% compounding earnings growth; sees banks and metals doing better this year
“Ajay Vora says overall profit growth for FY25 is expected to come from banks and metals because last year a large part came from autos, but this time, auto as a sector or even IT as a sector is going to be pretty muted. But banks and metals will be contributing in a big way.”
Q1 results, FII action among 10 factors to impact D-Street mood this week
Nifty gained 1.2%, driven by IT, energy, and pharma stocks. U.S. labor data, TCS earnings, Rupee vs. Dollar, Bank Nifty, oil prices, FIIs, IPO action, and dividends will influence markets next week. Bulls maintain strength with positive sentiment and broader market participation, expecting some consolidation.
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HDFC Bank gross advances jump 52.6% on-year in Q1 to Rs 24.8 lakh crore
HDFC Bank's gross advances increased by 52.6% year-on-year to ₹24.87 lakh crore in the quarter ending June 30, driven by its merger with HDFC Limited last July. Excluding the merger impact, advances grew by 14.9% from June 30, 2023, reaching ₹25.08 lakh crore by March 31, 2024.
Q-comm audits; modest Q1 for IT firms
Happy Wednesday! Due to recent hygiene lapses by quick commerce, the government has intensified surprise inspections of their warehouses. This and more in today’s ETtech Morning Dispatch.
IT stocks rally up to 4% as an early indicator of Q1 earnings just gave green signals
Indian IT stocks surged following positive results from Accenture, with Persistent Systems leading the gains. Analysts expect a strong demand environment to drive healthy earnings growth.
Hindalco Q4 Results: Profit jumps 70% YoY to Rs 1,412 crore, beats estimates
Hindalco reported a 69.7% YoY jump in its standalone Q4 profit to Rs 1,412 crore with revenue rising 10.72% to Rs 22,140 crore, beating Street estimates. Consolidated EBITDA was Rs 7,201 crore, up 24% YoY, driven by lower costs and higher volumes.
Grasim Q4 Results: Net profit jumps 39% YoY to Rs 1,908 crore; revenue rises 13%
Grasim Q4 Results: The net profit stood at Rs 1,369 crore in the last year quarter. Revenue from operations increased 13% year-on-year to Rs 37,727 crore in the reporting period, compared with Rs 4,873 crore in the corresponding period of previous year.
Varun Beverages shares surge over 5% post Q1 results. Should you buy, sell or hold?
Varun Beverages' (VBL) shares surged 5.5% on BSE, hitting Rs 1,558.45, following a 25% YoY increase in March quarter PAT to Rs 548 crore. Q1 revenue reached Rs 4,398 crore.
Varun Beverages Q1 Results: PAT jumps 25% YoY to Rs 548 crore; revenue rises 11%
Varun Beverages Q1 Results: Co reported a consolidated net profit of Rs 548 crore, rising 5% year-on-year (YoY) for the quarter ended March 31, 2024; revenue from ops stood at Rs 4,398 crore
ABB India shares surge over 8% after Q1 net profit jumps 87%
ABB India surged 8.5% on the BSE, hitting a new 52-week high of Rs 7,792.40. The company reported a remarkable 87% increase in net profit to Rs 460 crore in the March 2024 quarter, driven by higher revenues.
Luxury car companies keep it cool inside with advanced glass coatings
Car manufacturers are adopting sophisticated glass coatings to maintain cool temperatures inside vehicle cabins, reducing the reliance on air conditioning as temperatures soar above 45°C in certain Indian cities during the summer. This initiative coincides with the trend towards larger vehicles like SUVs and electric models, which demand more battery pack space, resulting in larger glass surface areas and thermal loads
ABB India Q1 Results: Net profit jumps 87% to Rs 460 crore
During the quarter, consolidated revenues came in at Rs 3,080 crore, up 28% from Rs 2,411 crore in the year-ago period.
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