Corporate News
Wipro Reports 4.6% Rise in Net Profit, Adds 337 Employees in Q1 FY25
"We recorded another quarter of total large deal bookings over $1 billion, with our largest win in recent years," said Srini Pallia, CEO and Managing Director.
JSW Steel's Q1 Net Profit Drops Sharply to Rs 845 Crore, Declining by 64%
Consolidated crude steel production was 6.35 mt during the quarter, down by 1 per cent year-on-year and 6 per cent quarter-on-quarter. Capacity utilisation at Indian operations of JSW Steel was at 87 per cent. The company said steel realisations remained under pressure due to lower-priced imports, mainly from countries having Free Trade Agreements and more importantly from China.
Jio Platforms Reports 11.7% Rise in Q1 Net Profit to Rs 5,698 Cr, Driven by Subscriber Growth; ARPU Holds Steady
Gross revenue for the quarter thus came in at Rs 34,548 crore for Jio Platforms, up 12.8 per cent year-on-year, even as revenue from operations stood at Rs 29,449 crore, an identical growth rate. This revenue growth was driven by strong subscriber growth in both mobility and homes segments.
Paytm Reports Expanded Loss of ₹840 Crore for April-June Quarter
According to a Paytm spokesperson, "The widening of losses and decline in revenue were mainly due to disruptions caused as an outcome of restrictions on Paytm Payments Bank Ltd. by RBI." He further mentioned, "The decline in revenue and increase in losses are coming from the impact on PPBL products like Wallet. We had to suspend the Wallet and many other products.".
Infosys Reports Q1 Net Profit of Rs 6,386 Crore, Marks 7% Growth
Moreover, Infosys has revised the revenue growth outlook upwards by 3-4 per cent for the fiscal year 2024-25. It has retained the EBIT margin guidance at 20-22 per cent for the current financial year.
Bajaj Auto's Q1 Profit Surges 19.4% to Rs 1,988 Crore
Its domestic operations remained strong as the company logged in its ninth consecutive quarter of double-digit growth. Broad-based growth across motorcycles, commercial vehicles, and electric scooters, has set the tone for this growth, the company said in a press statement, pointing out the resilience and momentum of its domestic business.
Massive opportunity in India if you take a decade-long perspective: PepsiCo CEO
The Constitution has explicitly prohibited the diversion of SC/ST funds for any other use. This is illegal and warrants action, Meghwal stated to reporters.
TCS Q1 Net Profit Up 8.7%; Expresses Caution About Sustaining Growth in FY25
Despite this, TCS is optimistic that FY25 will outperform the previous year. As the first major IT player to release its earnings for the April-June period, TCS achieved a 5.4% rise in revenue, totaling ₹62,613 crore. CEO K. Krithivasan noted satisfaction with the overall growth but acknowledged challenges in predicting sustainability.
Dezerv Secures $32 Million Funding Round with Premji Invest Leading
"India's creators of wealth will grow their wealth by nearly $1.2 trillion in five years, growing at 14 per cent CAGR," says Sandeep Jethwani, Co-Founder, Dezerv.
'Paytm was like a daughter to me who met with an accident' : CEO Vijay Shekhar Sharma on Paytm
He reflects on some of the recent regulatory action by Reserve Bank of India in the case of Paytm Payments Bank, in which the emotional cost has been paid through Sharma, according to him: "That is a professional responsibility one has to bear at times.
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