BUSINESS
Paytm scores profit for three straight quarters; posts revenue of Rs 2,342 cr, growth of 39% YoY in Q1FY24
Paytm’s EBITDA before ESOP saw a significant improvement of Rs 359 crore YoY to Rs 84 crore, compared to Rs 52 crore in Q4FY23 (excluding the UPI incentive). In Q1FY24, Paytm further grew its contributing profit, up by 80 per cent YoY to Rs 1,304 crore. Driven by the rise in contribution margin and consistent improvement in profitability, EBITDA before ESOP margin also improved to 4 per cent.`
Reliance Industries Ltd posts Rs 2.31L cr consolidated revenues for Q1
Reliance’s quarterly EBITDA stood at a record high of Rs 41,982 crore ($5.1 billion), up 5.1 per cent Y-o-Y, led by consumer and upstream businesses. Its consolidated profit after tax (PAT) was at Rs 8,258 crore ($2.2 billion), down 5.9 per cent YoY, on account of higher finance cost and increased depreciation.
Nifty falls at fastest pace in 18 weeks
It fell at the fastest pace in about 18 weeks to close at 19,745 levels, down 1.17 per cent or 234.2 points from its previous close. Volumes on the NSE continued to be higher than normal. Broad market indices did better than the Nifty with the small-cap index ending 0.13 per cent in the positive even as the advance-decline ratio came in lower at 0.82:1.
Apple iPhones see 68% growth in India in 2023 1st half, to reach 7% market share
In the second quarter (April-June period) alone, there was a strong growth uptick in Apple iPhone shipments and the company registered a stupendous 70 per cent growth in shipments in the country, according o data provided by CyberMedia Research (CMR).
Sensex sheds 1000 points dragged down by Infosys, HUL, RIL
IT heavyweights led by Infosys, HUL and Reliance Industries dragged the Sensex down to a sharp fall of more than 1,000 points on Friday.
Russia's external debt-to-GDP ratio falls to historic low
Russian's external debt-to-GDP ratio plummeted to a historic low of 15 per cent by the end of the first quarter, local media said on Friday.
Infosys leads fall in Indian indices, 2nd most expensive market after US
V. K. Vijayakumar, Chief Investment Strategist at Geojit Financial Services said even though Nifty is at a kissing distance of the psychological 20,000 mark, Infosys can turn out to be the slip between the cup and the lip. Infosys' poor guidance of 1 to 3.5 per cent revenue growth guidance for FY 24 will drag the stock down and, perhaps, Nifty with it since Infosys has a 5.9 per cent weightage in the index.
Investors closes in on acquiring CoinDesk for $125 mn: Report
CoinDesk is currently owned by crypto conglomerate Digital Currency Group (DCG), which acquired it in 2016. According to the Wall Street Journal, a group led by blockchain investors Matthew Roszak of Tally Capital and Peter Vessenes of Capital6 are "nearing a $125 million deal for CoinDesk".
Weak Q1 results by Infosys, HUL drag down Sensex by 800 points
Domestic volume growth, at 3 per cent, was below our estimate. We note volume growth was impacted as trade reduced stock levels (1-3 days) in lieu of price cuts. In home care, fabric wash grew in double digits, led by the premium portfolio while household care too grew in double digits (volume-led), driven by outperformance in dishwash, the report said.
Infosys reports Q1 year on year revenue growth of 4.2%
Large deal TCV for the quarter was at $2.3 billion, with net new of 56.1 per cent. Operating margin for the quarter was stable at 20.8 per cent. ROE improved 180 bps to 32.8 per cent. Attrition declined further to 17.3 per cent. FY24 revenue guidance revised to 1.0 per cent-3.5 per cent and operating margin guidance retained at 20 per cent-22 per cent.
Don't Miss
Advertisement