TCS Q3 RESULTS UPDATE
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.
Q1 results today: DMart among 14 companies to announce quarterly earnings
Other results to watch out for include Bhansali Engineering, Excel Realty N Infra, Geojit Financial Services, Hathway Bhawani Cabletel, J Taparia Projects, Kernex Microsystems, K&R Rail Engineering, Mishtann Foods among others.
HCL Tech’s weak Q1 revenue hints at demand concerns
HCL Tech's Q1 FY25 results were mixed, with better-than-expected net profit due to higher other income offsetting disappointing revenue growth. Operating margins were under pressure as anticipated, and the company secured fewer new deals compared to the previous quarter, a trend also seen in its larger competitor, TCS.
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.
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.
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.
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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.
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.
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.
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.
What to expect from HCL Tech Q1 earnings? Omkar Tanksale answers
This largely impacted the operating margin negatively. However, the worst is over, and there are green shoots in terms of demand as they have started executing well. The BFSI sector in North America is still under stress, but we expect demand to improve going forward.
TCS shows early signs of project ramp ups but demand recovery may take more time
In addition, while the country’s largest IT exporter continued to bag fresh orders, the quantum of total contract value (TCV) was underwhelming when compared with the previous quarter.
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.
Anand Rathi Wealth Q1 results: PAT, revenue jump 38% YoY; AUM surges 59% to Rs 69,018 cr
The MF revenue surged by 70% YoY to Rs 89 crore, while net inflows grew by 173% to Rs 3,364 crore. Equity mutual fund net inflows saw a significant increase of 462%, reaching Rs 2,091 crore.
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.
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.
TCS faces a muted Q1, trend in project ramping holds the key for Q2 show
The country's largest software exporter is likely to report 1.4% sequential increase in the revenue at $7,466.1 million, according to the average of estimates by ETIG and nine brokerages.
Tata Elxsi Q1 Results: Net profit falls 3% YoY to Rs 184 crore
Tata Elxsi Q1 Results: Revenue from operations for the reporting period grew by 9% year-on-year, reaching Rs 926 crore compared to Rs 850 crore in the same period last year. Sequentially, net profit for the quarter dropped by 6% from Rs 196 crore in the preceding December quarter. However, revenues increased by 2% quarter-on-quarter. Total expenses for the first quarter rose by 13% year-on-year to Rs 706 crore, compared to Rs 624 crore in the same quarter last year.
GM Breweries Q1 results: Profit jumps 25% YoY, revenue up 3%
GM Breweries (GMBL) posted a Q1FY25 profit of Rs 24.94 crore and Rs 600.59 crore revenue, up 25% and 3%. Total income Rs 604.22 crore, up 4% YoY. Largest in Maharashtra’s country liquor (CL) market, owns GM Santra, GM Doctor, GM Limbu Punch, GM Dilbahar Sounf.
Tata Motors Q1 Update: Global wholesales rise 2% YoY to 3.29 lakh units
In Q1 FY25, global wholesales of Tata Motors' passenger vehicles totaled 138,682 units, a 1% decrease compared to Q1 FY24. Global wholesales of all commercial vehicles and Tata Daewoo range in Q1 FY25 totaled 93,410 units.
Titan shares fall 4% as weak Q1 update leads to target price cuts
Titan Share Price: Titan Company's shares dropped 4% on Monday due to lower-than-expected business growth, prompting target price cuts from global brokerages. The company reported varied performance in different divisions, with challenges like high gold prices affecting consumer demand.
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.
IT stocks rally up to 32% in 1 month. Will Q1 results mark end of sluggish revenue growth?
IT sector experiences bullish rally ahead of Q1 results with Tech Mahindra, Coforge, and Infosys emerging as top stock recommendations.
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.
Medanta Q4 Results: Net profit jumps 26% YoY to Rs 127.3 crore
Global Health (Medanta) reported 26% year-on-year (YoY) jump in net profit to Rs 127.3 crore in Q4FY24 due to increase in revenue growth from matured and new hospitals, along with higher patient volumes.
ZEEL Q4 Results: Company reports profit of Rs 13 crore versus loss YoY; revenue rises 3%
ZEEL Q4 Results: The company reported a loss of Rs 196 crore in the same quarter last year. The revenue from operations for the quarter stood at Rs 2,185 core against Rs 2,126 crore in the corresponding quarter of the previous year.
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