TCS Q1 results meet estimates: Net profit rises 9% on-year to Rs 12,040 crore; Rs 10 dividend declared
Tata Consultancy Services (TCS) reported Q1 FY25 results meeting expectations, with a 9 percent year-on-year increase in consolidated net profit to Rs 12,040 crore. Revenue from operations for April-June rose by 5.4 percent to Rs 62,613 crore. However, margins were impacted by a wage hike cycle, with the EBIT margin narrowing to 24.7 percent, down 130 basis points from the previous quarter. The board approved an interim dividend of Rs 10 per share. TCS hired 5,452 employees in Q1, totalling a workforce of 6.07 lakh, while the attrition rate stood at 12.1 percent on an LTM basis. Read here
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Take a look at these key events
Today
Q1 results: 5PAISA, HCLTech, IREDA
IPOs opening: Prizor Viztech, Three M Paper Boards, Sati Poly Plast, Aelea Commodities
SC to announce judgment in Kejriwal's plea challenging ED arrest
SC to hear Hathras stampede case
Maharashtra MLC Elections for 11 seats
Swati Maliwal assault case: Delhi HC to rule on Bibhav Kumar's bail plea
Karnataka BJP to protest against MUDA land case
Hearing on former TN minister Senthil Balaji's bail plea
RSS Pracharak Baithak to begin in Ranchi
Oppo Reno 12, Reno 12 Pro launch
Noise 4 wireless headphones to launch in India
Tomorrow
Q1 results: D-Mart, HATHWAYB
HDFC Bank to face downtime due to system upgrade
HDFC Bank to migrate its core banking system to a new platform
PM Modi to inaugurate civic projects worth Rs 7,400 crore in Mumbai
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NEET: A complex story of growing opposition in Tamil Nadu
Tamil Nadu has a long history of opposition to entrance tests to professional colleges. Ironically, former chief ministers and rivals J Jayalalithaa and M Karunanidhi were on the same side on this issue: against entrance tests. Now, there is a political consensus against NEET among major parties barring the BJP. Students are also against what they see as one more hurdle. One of the state board toppers, Anita, who came under the SC category, committed suicide in 2017, further fuelling opposition to NEET in the state. Read here
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HDFC Bank in talks with credit funds to sell 20% of HDB Financial
HDFC Bank Ltd is in initial talks with private credit funds to sell a stake in its IPO-bound lending arm, HDB Financial Services, people familiar with the development said. The talks with domestic credit funds are part of the ongoing value discovery process for HDB Financial. Five funds are in talks with HDFC Bank to each acquire a 4-7 percent stake in the non-bank lender. Read more here
Gentle nudges over bold reforms. Politics over economics
The first budget of Modi 3.0 could have fresh PLIs, an excise duty cut, higher allocations for star schemes and greater onus on the states to drive sentiment on ground. The budget could play it safe while batting for the grass root economy. Read more here
Sold shares, mutual funds or property? Here's how to make accurate disclosures in ITR
Naveen Wadhwa, Vice President of Research and Advisory at Taxmann, explained which income tax return (ITR) form to choose when filing for capital gains and highlighted important considerations to keep in mind while filing for capital gains in ITR. Listen in to the podcast here
Reliance unveils JioTag Air, an affordable Apple AirTag alternative
After launching its first tracking device last year, Reliance Jio has launched its new smart tracker, the JioTag Air. It comes with big improvements over its predecessor and is even compatible with Apple’s Find My Network. The JioTag Air aims to be a more cost-effective solution for tracking valuables such as keys, ID cards, and wallets, than the Apple AirTag. Details about price, specifications here
