ORTEL COMMUNICATIONS LTD Q1 RESULTS
![REC Ltd looking at financing overseas projects, submitted application for subsidiary at GIFT City](https://img.etimg.com/thumb/msid-112080721,width-100,height-75,resizemode-4/news/economy/foreign-trade/rec-ltd-looking-at-financing-overseas-projects-submitted-application-for-subsidiary-at-gift-city.jpg)
REC Ltd looking at financing overseas projects, submitted application for subsidiary at GIFT City
REC Limited, a 'Maharatna' company under the Ministry of Power, has applied to open a subsidiary in Gujarat's GIFT City to begin financing offshore projects. CMD Vivek Kumar Dewangan announced plans to start offshore financing this financial year. REC reported a 19% increase in revenue to Rs 13,023 crore and a 16% rise in net profit to Rs 3,442 crore for Q1 2024. The company aims to double its loan book to Rs 10 lakh crore by 2030, focusing on renewable energy and non-power infrastructure.
![Tech Mahindra shares tumble over 5% after lower-than-expected Q1 performance. Should you invest?](https://img.etimg.com/thumb/msid-112032787,width-100,height-75,resizemode-4/markets/stocks/news/tech-mahindra-shares-tumble-over-5-after-lower-than-expected-q1-performance-should-you-invest.jpg)
Tech Mahindra shares tumble over 5% after lower-than-expected Q1 performance. Should you invest?
Tech Mahindra's shares fell 5.5% after Q1 PAT rose 23% YoY to Rs 851 crore, below the Rs 870 crore estimate. Revenue dropped 1% YoY but improved 1% sequentially. Brokerages gave mixed ratings: Nomura - Buy, Motilal Oswal - Neutral, Nuvama - Reduce.
![Tech Mahindra Q1 Results: Profit jumps 23% YoY to Rs 851 crore, misses estimates](https://img.etimg.com/thumb/msid-112015274,width-100,height-75,resizemode-4/markets/stocks/earnings/tech-mahindra-q1-results-profit-jumps-23-yoy-to-rs-851-crore-misses-estimates.jpg)
Tech Mahindra Q1 Results: Profit jumps 23% YoY to Rs 851 crore, misses estimates
Tech Mahindra Q1 Results: Tech Mahindra reported a 23% year-on-year growth in consolidated net profit to Rs 851 crore for the June quarter, slightly below the expected Rs 892 crore. Revenue from operations declined 1% YoY to Rs 13,005 crore. Sequentially, profit after tax rose by 28% and revenue increased by 1%.
![Tech Mahindra Q1 Results Preview: Revenue may fall 2% YoY on seasonal impact; deal wins to be muted](https://img.etimg.com/thumb/msid-111984451,width-100,height-75,resizemode-4/markets/stocks/earnings/tech-mahindra-q1-preview-revenue-may-fall-2-yoy-on-seasonal-impact-deal-wins-to-be-muted.jpg)
Tech Mahindra Q1 Results Preview: Revenue may fall 2% YoY on seasonal impact; deal wins to be muted
According to an average estimate from four brokerages, revenue for the reporting period is expected to decline by 1.6% year-on-year. However, sequential revenue growth is projected to be between 0.3% and 0.9%. Meanwhile, the reported net profit for the April-June 2024 period is anticipated to increase by 24% year-on-year, based on the same average estimate from the brokerages.
![The big Indian IT reset: green shoots in Q1 earnings](https://img.etimg.com/thumb/msid-111909261,width-100,height-75,resizemode-4/tech/information-tech/after-18-month-slump-it-sector-fortunes-seen-turning-the-corner.jpg)
The big Indian IT reset: green shoots in Q1 earnings
K Krithivasan, chief executive and MD at TCS, said during the Q1 earnings call that BFSI, its biggest vertical, returned to growth sequentially, along with all its markets and verticals except for CMI (communication, media and information).
![Paytm Q1 Results: Consolidated loss widens to Rs 839 crore, revenue plunges 36% YoY](https://img.etimg.com/thumb/msid-111853607,width-100,height-75,resizemode-4/markets/stocks/earnings/patm-q1-results-cons-loss-widens-to-rs-839-crore.jpg)
Paytm Q1 Results: Consolidated loss widens to Rs 839 crore, revenue plunges 36% YoY
Paytm Q1 Results: One 97 Communications, the parent company of Paytm, reported a widened cons loss of Rs 838.9 crore in the June quarter, compared to Rs 357 crore in the same quarter last year. Revenue for Q1 declined by 36% YoY to Rs 1,502 crore from Rs 2,342 crore in Q1 FY24. Despite this, the company indicated that its revenue and EBITDA, excluding the ESOP loss of Rs 545 crore, met its guidance.
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Paytm shares jump over 6% post Q1 results
At 2:15 PM, the stock was trading 4% higher at Rs 462.7 on the BSE. Despite a 23% increase over the past three months, it has fallen 45% over the past year. Technically, the stock's relative strength index stands at 55.8. The MACD is at 19.4, positioned above its center and signal line, suggesting a bullish trend.
Wipro Q1 results preview: Net profit may rise 4% year-on-year; revenue to fall due to continued weakness in verticals
Wipro Q1 Results: Wipro's Q1 revenue likely to decline by 2% year-on-year, with net profit expected to grow by 4%. Analysts are keeping an eye on consulting business performance and large deal pipeline. Company aiming for cost containment and efficiency measures to boost margins.
Q1 results today: RIL, Wipro, Paytm among 51 companies to announce earnings on Friday
Q1 results today: Several major companies, including Reliance Industries, Wipro, and Paytm, are set to announce their first quarter results today. Expectations range from profit growth to revenue declines across different sectors. Investors are advised to stay informed and watch out for key updates.
Tata Communications Q1 results: PAT jumps nearly 13% YoY to Rs 333 crore, revenue surges 18%
Tata Communications reported a 12.8% YoY increase in PAT for Q1FY25, with revenue surging to Rs 5,633.4 crore. The CEO AS Lakshminarayanan is confident of medium-term growth, having expanded product capabilities and increased customer relevance.
Infosys Q1 earnings; payment cos seek UPI sops
IT major Infosys logged a rise in profits for the first quarter of FY25. This and more on today’s ETtech Top 5.
Infosys Q1 Results: PAT jumps 7% YoY to Rs 6,368 crore, revenue rises 4%
Infosys Q1 Results: The revenue from operations for the quarter stood at Rs 39,315 crore, reflecting a 3.6% rise from Rs 37,933 crore in the same quarter of the previous financial year. However, on a sequential basis, consolidated net profit was down by 20.1% over Rs 7,975 crore reported in Q4FY24. In its guidance, the second-largest IT company expects revenue growth of 3%-4% in constant currency for FY25.
Paytm Q1 results preview: Revenue may fall by up to 36%, net loss likely to widen
One 97 Communications, operating Paytm, could report a net loss between Rs 1,013 crore and Rs 840 crore and a revenue between Rs 1,532 crore and Rs 1,490 crore for June 2024, according to estimates by two brokerages.
LTIMindtree Q1 net profit up 3.1% at Rs 1,135 crore
LTIMindtree's Q1 FY25 results show a 3.1% net profit growth but missed estimates. North America revenue contribution grew to 75.1% in the first quarter of this fiscal – highest since the official merger between the erstwhile IT firms, LTI and Mindtree. On a sequential basis, revenue grew 2.8%.
LTIMindtree Q1 Results: Cons PAT falls over 1% YoY to Rs 1,134 crore; revenue rises 5%
LTIMindtree Q1 Results: The company reported revenue from operations of Rs 9,143 crore for the quarter, marking a 3% sequential increase compared to the previous quarter. In USD terms, revenue reached $1,096.2 million, representing a 3.5% YoY growth and a 2.5% quarter-over-quarter (QoQ) increase.
Q1 results this week: RIL, Paytm, Infosys, Jio Financial among 418 companies to announce quarterly earnings
Several widely followed companies, including Jio Financial, Paytm, Bajaj Auto, Asian Paints, LTIMindtree, Infosys, Reliance Industries, Wipro, Union Bank of India, Kotak Mahindra Bank, Tanla Platform, Tata Technologies, and YES Bank, will be releasing their June quarter report cards this week.
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.
Q-comm audits; modest Q1 for IT firms
Happy Wednesday! Due to recent hygiene lapses by quick commerce, the government has intensified surprise inspections of their warehouses. This and more in today’s ETtech Morning Dispatch.
Indian software sector earnings will remain modest in Q1: here’s why
Infosys and LTIMindtree are expected to lead a modest increase in average growth for Indian software service providers in the first quarter of FY25. However, previous top performers, Tata Consultancy Services (TCS) and HCLTech, may see pressure on profits and margins as they work to reignite growth.
Paytm shares drop 3% after Q4 results. Should You buy or sell?
Paytm's Q4 results show widened losses and reduced revenue, impacted by disruptions and regulatory actions. Analysts vary: Bernstein sees signs of recovery, Macquarie remains cautious, Motilal Oswal maintains a neutral stance, while JM Financial advises selling.
Paytm employees warned of potential job losses after hit from RBI probe
Paytm, the Indian fintech pioneer, signalled job cuts and asset trimming after reporting its first sales decline on record due to a regulatory probe. The company's net losses surged to 5.5 billion rupees, with revenue dropping by 2.6%. Paytm aims to recover by streamlining operations and focusing on core businesses.
Paytm among worst performing fintech stocks as earnings loom
Emkay Global’s analyst Anand Dama expects a further 16% correction, arguing that the fourth quarter results “won’t capture the full extent of business disruptions caused due to the drop in UPI and bill payment market share.”
Bharti Hexacom Q4 Results: Bharti Airtel arm reports 10% YoY PAT jump to Rs 223 crore
Bharti Hexacom Q4 Results: The company reported a PAT of Rs 202 crore in the year-ago period. Its revenue from operations was reported at Rs 1,868 crore for the quarter, an 8% jump YoY. It is the company's first quarterly earnings since its listing in April.
S&P 500 Q1 earnings estimated growth improves; stocks up for week
S&P 500 year-over-year earnings growth for the first quarter of 2024 is now seen at 5.6%, according to LSEG data on Friday. That is up from 4.3% the day before.
Tech Mahindra Q4 Results Preview: Weakness to persist as profit, revenue seen falling
TechM to report -1.4% quarter-on-quarter decline in CC and -1.0% decline in USD - driven by weakness in the Telecom segment and absence of pass-through revenues. Margins to expand by 200 bps quarter-on-quarter to 7.3%, on the back of the absence of one-off cost. Adjusted margins to remain flat quarter-on-quarter. Deal wins are expected to be stable.
LTIMindtree Q4 Results: Net profit falls marginally to Rs 1,100 crore, misses St estimates
LTIMindtree Q4 Results: Revenue from operations in the January-March period rose 2% year-on-year (YoY) to Rs 8,893 crore. The same stood at Rs 8,691 crore in the same period last year.
Tata Elxsi Q4 Results: Net down 4.5% QoQ to Rs 197 crore; company added 1,500 employees in FY24
The engineering service provider also saw its Q4 revenue at Rs. 905.9 crore, down by 0.9% QoQ. This the first time after Q1 of FY21, where the company saw a sequential revenue decline. For the full fiscal its revenue grew by 13% on-year at Rs 3,552 crore.
Tata Communications Q4 Results: Profit drops 1.5% YoY to Rs 321 crore; revenue jumps 25%
Tata Communications Q4 Results: The Board of Directors has also recommended a final dividend of Rs 16.70 per share for the financial year ended March 31, 2024. As per the latest financial report submitted to the exchanges, the company's EBITDA rose by 2% to Rs 1,056 crore in contrast to the EBIT margin, which declined from 23% to 19%.
Q4 results today: Tata Communications, Angel One among 10 companies to announce earnings
March quarter earnings season starts with Tata Communications and ICICI Lombard set to announce. Boards to discuss dividends. High-frequency indicators point to strong demand momentum. Key focus on data gross revenue, DPS revenue, and EBITDA margins.
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