IT RESULTS

SpiceJet Results: Budget carrier posts Rs 127 crore profit in Q4 versus loss a year ago

Despite earlier financial difficulties and a ransomware attack delaying results, SpiceJet reported a 19% year-on-year decrease in consolidated revenue to Rs 1,738 crore for the fourth quarter. However, on a standalone basis, the airline saw a sixfold increase in net profit to Rs 119 crore, with standalone EBITDA rising 12% to Rs 386 crore.

Jio Financial Services Q1 Results: Revenue up 1%, PAT falls 6% YoY to Rs 313 crore

HDFC AMC Q1 Results: PAT jumps 26% YoY to Rs 604 crore, revenue surges 35%

HDFC AMC Q1 Results: In the recent quarter, the consolidated profit after tax saw a notable increase of nearly 12% compared to the previous quarter. Additionally, revenue experienced a 12% sequential rise from Rs 695 crore reported in the same period last year. HDFC AMC also recorded revenue from other income amounting to Rs 173 crore.

Jio Financial Services Q1 results today: Shares climb ahead of announcement

Jio Financial Q1 Results: Jio Financial Services shares rose 2% to Rs 355 on the BSE before Q1 FY25 results and RBI's CIC conversion approval. Q4 FY24 net profit was Rs 311 crore, revenue Rs 418 crore. FY24 net profit hit Rs 1,604 crore. Application to RBI in November 2023 after demerging from Reliance Industries Limited, RSI currently at 46.8 per Trendlyne data.

Reflects changing political climate in country: Congress on bypoll gains

The Congress party's recent victories in the Himachal Pradesh and BJP-ruled Uttarakhand assembly bypolls indicate a changing political climate in India. Congress wrested Manglaur from BSP and retained Badrinath amid BJP's aggressive tactics. Jairam Ramesh views these wins as reflecting a political shift. In Himachal Pradesh, Congress won Dehra and Nalagarh despite BJP's 'Operation Lotus,' bolstering their strength in the state assembly per Rajiv Shukla. Key wins for Congress included Kamlesh Thakur in Dehra and Hardeep Singh Bawa in Nalagarh, although BJP's Ashish Sharma secured Hamirpur. In Uttarakhand, Qazi Mohammad Nizamuddin won Manglaur and Butola triumphed over Rajendra Singh Bhandari in Badrinath. These were part of 13 assembly bypolls held recently across multiple states.

CCI probe finds Apple abused position in apps market

India's antitrust body finds Apple engaged in abusive conduct in app store market, forcing developers to use its payment system. Apple denies wrongdoing, citing small market share in India. Investigation ongoing with potential fines and business practice changes. Google also faced similar scrutiny in India for in-app payments.

How Microsoft's Satya Nadella became tech's steely-eyed AI gambler

Nadella, Microsoft's CEO, had his eyes on a Silicon Valley startup called Inflection AI. The company's CEO, Mustafa Suleyman, was one of the founders of the pioneering artificial intelligence company DeepMind.

Meta to roll back some restrictions on Trump's Facebook, Instagram accounts

The social media company indefinitely suspended Trump's accounts following his praise of people who stormed the U.S. Capitol on Jan. 6, 2021. The company then reinstated his accounts in early 2023, saying it would monitor Trump's posts for further violations that could result in another suspension of between one month and two years.

HCL Tech Q1 Results: Cons PAT jumps 20% YoY to Rs 4,257 crore, beats estimates

HCL Tech Q1 Results: Profit rose 7% from the previous quarter, while revenue dipped 1.5%. Constant currency revenue increased 6% year-on-year but fell 1.6% quarter-on-quarter. EBIT increased 7% year-on-year to Rs 4,795 crore but decreased 4% quarter-on-quarter.

Australia to bring anti-scam law targeting internet giants this year, regulator says

The Australian Competition and Consumer Commission (ACCC) and the treasury department are consulting internet, banking and telecommunications firms about creating a mandatory, enforceable anti-scam code which legally requires them take reasonable steps to protect users, including offering an effective complaint service.

Q1 results today: HCL Tech, IREDA among 14 companies announce earnings on Friday

TCS has started the first quarter earnings season with positive results, signaling an improved business environment. Today, HCL Tech, along with 13 other companies, will announce their earnings for the quarter ended June. Other notable companies reporting earnings include 5paisa Capital, Atharv Enterprises, Betala Global Securities, Gautam Gems, Golkonda Aluminum, Indo Cotspin, Infomedia Press, IREDA, and Oriental Hotels.

European regulators crack down on Big Tech

EU regulators probe Big Tech. Apple addresses DMA breaches, Spotify's complaint. Microsoft leaves OpenAI’s board. Meta's consent model, CrowdTangle features, Facebook, Instagram’s child safety scrutinized. Google fined 2.42 billion euros. Amazon's DSA compliance checked. NVIDIA faces French probe. TikTok, Meta gatekeeper disputes. Italy fines Facebook, Meta. Germany ends Google probe. UK investigates cloud market. Spain suspends Meta products.

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.

Google CEO Sundar Pichai testifies in Ozy Media founder's fraud trial

Pichai is the highest-profile witness to testify so far in the trial of Carlos Watson, the founder of Ozy who is accused of misrepresenting his company's financial results, funding and audience data to investors and lenders from 2018 to 2021.

NEET grace marks scrapped; affected students given re-exam option

NEET-UG 2024 witnessed a notable increase in the number of candidates achieving a perfect score of 720 compared to previous years. Concerns remain about the fairness and transparency of the exam process.

ET Explainer: The controversy around NEET UG 2024

Alakh Pandey, founder of PhysicsWallah, urges Supreme Court to investigate discrepancies in NEET-UG 2024. NTA awarded grace marks to 1,500+ students, sparking controversy. Test prep industry calls for re-examination and CBI inquiry into NTA's actions.

Startups seek advice on IPO timing in choppy markets

Multiple new-age companies looking to go public are seeking counsel on their next moves in response to the stock market volatility following the general election results on Tuesday. These companies are looking for advice on the timing of their public listings even as they remain confident about India's macroeconomic prospects, founders, investors and investment bankers told us.

How memes, live streaming won over the internet on election results day

The internet has been atwitter with polling buzz since election results started unfolding on Tuesday, with netizens posting memes, comments and even some educational information on the polls.

Stock prices of new-age firms swing on poll results

Major new-age companies including Zomato, Paytm, Delhivery, Nykaa and PB Fintech saw their stock prices plummet on Tuesday. However, as the broader markets recovered some losses on Wednesday, these stocks also saw their prices rise. This plunge followed massive gains on Monday when exit polls had suggested a clear mandate for the ruling Bharatiya Janata Party (BJP).

China tech giant Alibaba posts modest yearly revenue growth

Chinese ecommerce giant Alibaba announced Tuesday a modest increase in annual revenue, at a time when the firm pursues a major overhaul and regulatory curbs on the country's tech sector are relaxed. Fellow internet giant Tencent posted weakened revenue growth in the first three months of this year, also on Tuesday.

Microchip Technology expects weak quarterly results on excess inventory impact

Slowing electric vehicle sales at a time when customers are clearing excess inventory have weighed heavily on demand for chips in the automotive industry, hitting chipmakers such as Microchip Technology amid an uncertain economic environment.

Apple sales fall less than expected, CEO sees return to growth

Apple increased its cash dividend by 4% and authorized an additional program to buy back $110 billion of its stock. The buyback is the largest in the company's history, according to Investing.com analyst Thomas Monteiro.

Microsoft results top Wall Street targets, driven by AI investment

Microsoft beats revenue expectations with AI adoption in cloud services. Stock jumps 4%. Forecasted cloud revenue above Wall Street. Microsoft's value increased by $128 billion. Azure revenue exceeded estimates.