TRACXN TECHNOLOGIES LTD Q3 RESULTS
HCL Tech shares surge 4% on Q1 profit beat. Time to hold or buy?
HCL Technologies reports a 20% YoY growth in net profit, reaching Rs 4,257 crore for the quarter ended June 2024. Brokerages maintain positive views on the stock with target prices ranging from Rs 1,720 to Rs 1,850.
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.
Citigroup Q2 Results: Profit beats on surge in investment banking, services strength; but shares fall 3%
The third-largest U.S. lender reported a profit of $1.52 per share for the three months ending June 30, surpassing analysts' expectations of $1.39, according to LSEG data. Warren Kornfeld, senior vice president in the financial institutions group at Moody’s Ratings, noted that these results highlight Citi's challenging path toward achieving its shareholder returns target of 11% to 12%, up from 7.2% in the second quarter.
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.
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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.
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.
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 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.
Kaynes Technologies shares soar 40% in three days after Q4 results exceed Street expectations. Is it time to buy or sell
Kaynes Technologies' shares have surged over 40% in the past three trading sessions on the BSE following the company's robust performance in the January-March quarter. Today, the stock saw a further spike of 12%, reaching a 52-week high of Rs 3,638.4. In Q4 FY24, Kaynes Tech reported a significant increase in consolidated net profit, soaring by 96.8% year-on-year (YoY) to Rs 813 crore.
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.
Redington Q4 Results: Firm posts standalone profit of Rs 160.57 crore
Integrated technology solutions provider Redington Ltd has reported a standalone net profit for the January-March 2024 quarter at Rs 160.57 crore, the company said. The city-based company had registered a standalone net profits of Rs 124.91 crore during the corresponding quarter of previous year.
Late-stage startup funding up 3x in April
Data from market intelligence platform Tracxn reveals a new trend in Indian startups. While overall funding for startups declined in the first three months of 2024, late-stage funding (for more established companies) saw a dramatic increase, more than tripling in April.
Dixon Technologies Q4 Results: Net profit rises 20% YoY to Rs 97 crore
The electronics manufacturer has over two dozen production facilities across the country. Dixon makes smartphones and feature phones for brands such as Xiaomi, Motorola, Samsung and Jio, and is in talks with other global brands for more manufacturing orders.
Intellect Design Arena shares plunge over 15% after weak Q4 earnings
Intellect Design Arena shares plunged over 15% to Rs 930 in Friday's trade on BSE after the company reported disappointing earnings for the March quarter of FY24, with revenue of Rs 612 crore, down 3.6% quarter-on-quarter (QoQ) and down 1% year-on-year (YoY). Revenue was impacted by the termination of the GeM contract.
Sterlite Tech Q4 Results: Co posts Rs 82 crore loss vs profit of Rs 63 crore a year ago
Broadband technology company Sterlite Technologies on Wednesday reported a consolidated loss of Rs 82 crore for the fourth quarter ended March 2024, mainly due to a dip in optical networking business. The company had posted a profit of Rs 63 crore a year ago.
Happiest Minds Tech Q4 Results: Profit jumps 25%, revenues up 10%
Happiest Minds Tech Q4 Results: For full year, the Bengaluru-headquartered firm’s profit rose 7.5% to Rs 248.39 crore from Rs 230.99 crore in FY23. Revenues increased 13.7% to Rs 1624.66 crore from Rs 1,429.29 crore last year.
Tata Tech shares dip 5% as brokerages reduce target prices. Should you buy?
Tata Tech Share Price: Tata Tech reported its quarterly earnings for the second time on 3rd May wherein their net profit stood at Rs 157.24 crore for the quarter ended March 2024, which was down 27% on a year-on-year basis while the consolidated revenue from operations for the reported quarter stood at Rs 1,301.05 crore, lower by 7.22% YoY.
Tata Technologies Q4 profit dips 27% to Rs 157 crore
Tata Technologies faced a 27.4% YoY net profit decrease in Q4 FY24 due to reduced technology solutions revenue and increased employee costs. Despite challenges, the company demonstrated resilience with strategic focus on market performance and growth initiatives.
Tata Technologies Q4 Results: Cons PAT falls 27% YoY to Rs 157 crore; dividend declared at Rs 10.05 per share
Tata Technologies Q4 Results: The company's board recommended a special dividend of Rs. 1.65 per equity share for the financial year ended March 31, 2024. The consolidated revenue from operations for the reported quarter stood at Rs 1,301.05 crore, lower by 7.22% on a YoY basis against Rs 1,402.39 crore reported in the year-ago period.
Q4 results this week: Adani group to lead as 211 companies will declare earnings
With 211 companies announcing quarterly results this week, investors are particularly watching out for major names like Kotak Mahindra Bank, DMart, Ultratech Cement, Indian Oil, and many others across various industries.
Deals, hiring show HCL Tech can tap expected IT bounce
Revenue in the major markets of the US and Europe grew sequentially by 4.2% and 2.3%, respectively, while major business verticals also showed higher revenue. But what sets HCLTech apart from peers is the fact that it continued to add headcount during the quarter.
Q4 results: How LTTS, Cyient, Zensar Technologies and Laurus Labs fared in March quarter
LTTS reported 8% YoY growth in net profit at Rs 1,304 crore while the standalone revenue stood at Rs 9,647 crore, up by 9%.
Q3 results today: Hindalco Industries, BHEL, IRCTC among 500 companies to announce earnings
On Monday, over 299 companies announced their December quarter earnings which included the likes of NHPC, Coal India, 63 Moons Technologies, Allcargo Logistics, Balmer Lawrie Investments and Galaxy Surfactants.
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