Infosys: The country's second-largest IT services company recorded a consolidated profit of Rs 7,969 crore for the quarter ended March FY24, growing 30.5 percent over the previous quarter driven by income tax refunds, but overall earnings missed analysts' estimates. Revenue from operations fell by 2.3 percent QoQ to Rs 37,923 crore, while revenue in dollar terms declined 2.1 percent and constant currency revenue dropped 2.2 on a sequential basis. EBIT dipped 4.3 percent sequentially to Rs 7,621 crore, with a margin down 40 bps to 20.1 percent for the quarter. Infosys has announced a final dividend of Rs 20 per equity share for FY24 and a special dividend of Rs 8 per equity share.
2/20
Bajaj Auto: The Pune-based two-and-three-wheeler maker has reported standalone net profit of Rs 1,936 crore for the March FY24 quarter, growing sharply by 35 percent over the year-ago period. Revenue from operations during the same period increased 29 percent to Rs 11,485 crore, with sales volume rising by 24 percent to 10.62 lakh units. EBITDA for the quarter at Rs 2,306 crore grew by 34.4 percent over the corresponding period last fiscal, with a margin expansion of 80 bps at 20.1 percent. Bajaj Auto has announced a dividend of Rs 80 per share.
3/20
ICICI Securities: The company has reported a consolidated net profit of Rs 536.5 crore for the quarter ended March FY24, rising 104.3 percent over a year-ago period, with strong topline as well as operating performance. Revenue from operations grew by 74.4 percent to Rs 1,543.2 crore compared to the same period last year. The company has announced a final dividend of Rs. 17 per share. Meanwhile, the company has received board approval for the re-appointment of Vijay Chandok as Managing Director and CEO and the appointment of TK Srirang as Joint Managing Director.
4/20
Rail Vikas Nigam: RVNL has signed a Memorandum of Understanding (MoU) with Turkish Engineering Consulting & Contracting (TUMAS India) for partnership and collaboration in public transportation projects and infrastructure projects in India.
Results on April 19: Wipro, HDFC Asset Management Company, Jio Financial Services, Hindustan Zinc, Elecon Engineering, KP Green Engineering, Sejal Glass, Rajnish Wellness, Roselabs Finance, Rajnish Retail, Amal, Benares Hotels, Sybly Industries, and VL E-Governance & IT Solutions will release their quarterly earnings scorecards on April 19.
6/20
Housing & Urban Development Corporation: The Department of Public Enterprises (OPE) has granted the Navratna status to HUDCO.
7/20
ITC: Infotech India, a wholly owned subsidiary of the FMCG major, has entered into a share purchase agreement for the acquisition of 100 percent of the share capital of cloud services provider Blazeclan Technologies for Rs 485 crore. The proposed acquisition will be completed in 6 to 8 weeks.
8/20
Landmark Cars: The automobile retailer has recorded revenue from operations (on a pro forma basis) at Rs 1,311 crore for the quarter ended March FY24, growing 8.2 percent over a year-ago period. Vehicle sales stood at Rs 1,049 crore for the quarter, up 3.55 percent YoY.
Container Corporation of India: The state-owned logistics service provider has signed a Memorandum of Understanding (MoU) with PSA Mesa Supply Chain Pte. Ltd. to offer seamless and cost-effective logistics services to customers. PSA MESA is a wholly owned subsidiary of PSA International, a leading global port operator, operating four maritime container terminals and two container freight stations in India.
10/20
Vodafone Idea: The telecom operator's follow-on public offer will open for the second day of bidding on April 19. The offer had subscribed 26 percent on the opening day.
11/20
Federal Bank: The private sector lender has received approval from the Reserve Bank of India (RBI) to establish a representative office in the Kingdom of Saudi Arabia. This approval is subject to further regulatory approvals from the relevant authorities in Saudi Arabia.
12/20
TV18 Broadcast: The company has recorded consolidated revenue at Rs 2,330 crore for the March FY24 quarter, growing sharply by 66 percent over the corresponding period last fiscal, driven by sports and movie segments, with TV News showing 28 percent growth at Rs 461 crore and the Entertainment segment growing 79 percent to Rs 1,868 crore. The operating EBITDA loss for the quarter stood at Rs 161 crore against EBITDA of Rs 77 crore over a year ago, impacted by the operating losses from sports and digital segments.
13/20
Network18 Media and Investments: The company said consolidated revenue increased by 63 percent YoY to Rs 2,419 crore for the quarter ended March FY24, driven by sports and movie segments. Its consolidated operating EBITDA loss stood at Rs 190 crore against EBITDA of Rs 57 crore during the same period, impacted by the operating losses from sports and digital segments.
14/20
Mahindra Lifespace Developers: The real estate and infrastructure development subsidiary of the Mahindra Group has received bookings for more than 150 homes within just 2 days, valued at Rs 350 crore, after the launch of Bengaluru's 1st net zero waste + energy residential project, Mahindra Zen.
15/20
Hindustan Construction Company: The infrastructure company has received approval from the board of directors for the appointment of Girish Gangal as Chief Financial Officer, with effect from April 18, after Rahul Rao resigned as Chief Financial Officer.
16/20
Gokaldas Exports: The company opened its qualified institution placement (QIP) issue on April 18. The floor price has been fixed at Rs. 789.99 per share. CNBC-TV18 reported that the company intends to raise up to Rs 600 crore via QIP.
17/20
Dhanlaxmi Bank: The Reserve Bank of India has approved the appointment of Ajith Kumar K. K. as Managing Director and CEO of Dhanlaxmi Bank for three years, with effect from taking charge. The board will be meeting in due course to approve the appointment of Ajith Kumar as the MD and CEO of the bank.
18/20
Hitech Corporation: The company has incorporated a wholly owned subsidiary with the name Hitech Global Inc. in the United States.
19/20
Goa Carbon: The company said its operations at the Bilaspur unit in Chhattisgarh have been temporarily shut down for maintenance work since April 18.
20/20
Indus Towers: NTPC Green Energy, the subsidiary of NTPC, has signed a Memorandum of Understanding (MoU) with the tower infrastructure company to explore the joint development of grid-connected renewable energy-based power projects.
