DRC SYSTEMS INDIA LTD Q2 RESULTS
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.
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.
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.
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.
IT stocks surge up to 6% led by midcap counter Mphasis as TCS Q1 cheers D-Street
Indian IT stocks surged due to TCS's robust June quarter earnings. The Nifty IT index rose 3.7%. Infosys and TCS led gains with Rs 62,613 crore revenue and Rs 12,040 crore net profit. MphasiS had notable intraday gains, while HCL Technologies showed growth. TCS forecasts better FY25 performance.
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.
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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 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 Earnings Preview: Flat to 4% growth in net profit expected from Nifty pack; auto, financials, health to outperform
Motilal Oswal and Kotak Mahindra differ in their Q2 earnings projections for the Nifty universe. While Kotak forecasts a nearly flat growth of 0.6%, Motilal Oswal projects a 4% increase in net profits. Both firms predict stronger growth when excluding global commodities. Motilal Oswal anticipates a 10% YoY increase for the Nifty excluding oil & gas and metals, while Kotak forecasts a 9.3% rise excluding oil marketing companies.
India Inc registers 501 deals valued at USD 21.4 bn in Q2 2024: Grant Thornton
Grant Thornton Bharat's Q2 2024 report shows 501 deals worth USD 21.4 billion. Despite a 28% value decrease post Reliance-Disney mega-merger, domestic investment and private equity remain strong. High-value deals (over USD 100 million) rose 58% with 30 significant deals. Political stability and policy clarity boosted traditional sectors like pharma and manufacturing, states Shanthi Vijetha.
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.
Shadowfax announces AI-based address intelligence system SF Maps
SF Maps aims to improve navigation for delivery partners, thereby assisting e-commerce platforms and Direct-to-Consumer (D2C) brands in reducing cancellations due to address inaccuracies on their platforms.
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.
Q4 results: Stable costs boost India Inc. profits
Steady costs and firm domestic demand supported corporate performance in the March quarter.
LIC Q4 Results: Cons PAT jumps 4.5% YoY to Rs 13,782 cr; dividend declared at Rs 6 per share
LIC Q4 Results: The company had reported a net profit of Rs 13,191 crore in the corresponding period of the last financial year. The Total Premium Income for the year ended March 31, 2024, was reported at Rs 4,75,070 crore. It was Rs 4,74,005 crore for the year ended March 31 2023. The Total Individual Business Premium for the financial year increased to Rs 3,03,768 crore from Rs 2,92,763 crore reported for the comparable period of the previous year.
Sun Pharma Q4 Results: Profit jumps 34% YoY to Rs 2,654 crore, meets Street estimates
Sun Pharma Q4 Results: The company's revenue rose 10% year-on-year to Rs 11,983 crore in the reporting quarter. It was Rs 10,931 crore a year ago. Its board has approved a final dividend of Rs 5 per share, which will be paid within the prescribed timeline. India formulations sales were Rs 3,707 crore for the fourth quarter, showing growth of 10% over Q4 last year and accounted for 31.4% of total consolidated sales for the quarter.
Motherson Sumi Wiring Q4 Results: PAT jumps 38% YoY to Rs 191 crore, revenue rises 19%
Motherson Sumi Wiring Q4 Results: The company’s revenue for the period was reported at Rs 2,233 cr, a 19% jump YoY. The board has announced a dividend of Rs 0.80 per share.
Motherson Sumi Wiring India Q4 Results: Firm posts rise in profit on steady demand
Motherson Sumi Wiring India on Thursday reported a 38% rise in fourth-quarter profit, aided by strong demand for automobiles.
Bharti Airtel announces final dividend of Rs 8 per share
The telecom major's Q4 net profit of Rs 2,072 crore missed the Street estimates by a wide margin, which saw the figure around Rs 3,274 crore. Revenue from operations in the January-March 2024 period increased 4% to Rs 37,599 crore against Rs 36,009 crore in the corresponding period of last year.
Bharti Airtel Q4 Results: Profit slides 31% YoY to Rs 2,072 crore; dividend declared at Rs 8/share
Bharti Airtel Q4 Results: Revenue from operations in the January-March 2024 period increased 4% to Rs 37,599 crore against Rs 36,009 crore in the corresponding period of last year. Consolidated revenues were impacted by the devaluation of African currencies during the period, particularly Nigerian Naira.
MapmyIndia Q4 Results: Firm posts 35% rise in net profit to Rs 38 crore
The consolidated revenue of operations increased 47 per cent to Rs 106.9 crore during the fourth quarter of FY24, from Rs 72.47 crore in the March 2023 quarter.
Hero MotoCorp shares surge 6% after Q4 results. Should you buy, sell or hold?
Hero MotoCorp Share Price: Hero MotoCorp shares surged 6% after Q4 results, with net profit up 18% to Rs 1,016.05 crore. Brokerages remained positive: Jefferies expects double-digit industry revenue growth, maintains 'buy'; BofA sees potential in Hero 2.0 strategy, sets target price of Rs 5,400; Kotak retains 'sell' rating.
Bharat Forge shares jump over 9%, hit 52-week high on stellar Q4 show
For the full financial year, the profit after tax (PAT) jumped to Rs 910 crore, a 79% uptick over Rs 508 crore reported in the year-ago period. The consolidated revenue from operations stood at Rs 4,164 crore, a 15% YoY gain over Rs 3,629 crore reported in the year-ago period.
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