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R Shankar Raman added that he does not expect any major tax related announcement as part of the Budget for 2025-26.
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L&T's topline and bottomline line missed street expectations as its operating margins or Earnings before interest, taxes, depreciation, and amortisation (EBITDA) margins contracted 70 basis points on year to 9.7%. The company's operating margins fell mainly due to a 50% jump in cost of raw materials and components consumed and a 16% rise in construction materials consumed seen during the quarter.
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Infosys also retained the operating margin guidance of 20-22% for FY25.
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This has been the seventh revision in the revenue guidance in the last eight quarters for Infosys.
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The private sector has always been investing in industries like cement, steel, electronics, construction materials and automobiles. This will continue to be the case, although it may be more careful spending.
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The engineering major is looking to expand its staff strength in West Asian countries, especially Saudi Arabia, where it has set up fabrication shops and is encouraging local engineering graduates to train with it
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Shankar added he expects the government to improve on the Rs 11.11 lakh crore capex for the infrastructure segment once it returns to power.
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The engineering major expects its revenue to grow in the high teen percent and order intake growth at 20 percent in the current financial year.
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L&T Q3 earnings: Improved execution of infrastructure projects and growth in information technology and technology services portfolio gave a boost to numbers
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Raman added that by looking at the strong momentum of order inflow witnessed during the first half of FY24, it is likely that L&T will surpass its guidance for order inflow and revenue for FY24
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Higher-than-expected sales growth was driven by execution tailwinds in the infrastructure projects segment and sustained growth momentum in the IT and ITeS portfolio.
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Companies have continued to cut their guidance due to the demand environment, a weak H1, longer deal closure timelines, and more
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More than the historical numbers, the market would be keen to hear from the management regarding their outlook in the current uncertain environment.
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The endeavor is driven by recognition that renewed inflation may require higher and more frequently changed interest rates than has been the case since 2007, when a U.S. financial crisis opened an era of strong and often detailed central bank guidance that spanned the near crack-up of the euro zone, sluggish growth, an oil slump, pandemic and war.
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In March quarter, Jain Irrigation completed the deal to merge its global irrigation business with Temasek-owned Rivulis. Anil B Jain says that the merged entity may get listed in three years, as he lays out the road map for the next few years.
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The engineering major's management is cautious of slowing ordering activity going ahead due to Union Elections that will take place in 2024.
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Roland Busch says there is a war for talent in India as companies across the world are scouting for skilled manpower.
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The current order book for IRB Infra stands at Rs 21,000 crore, including Rs 9,000 crore for engineering, procurement, and construction (EPC), and Rs 12,000 crore for operational and management (O&M) projects.
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L&T had earlier guided it will close FY23 revenue, and order inflow at a growth of 12-15 percent.
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The central PSU posted a profit before tax of Rs 35 crore and a profit after tax of Rs 26 crore during the first quarter on a consolidated basis
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We look at trends through the prism of consumption, inflationary pressure, capital expenditure, improvement in market share and growth drivers across sectors
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HCL Technologies Ltd reported 20.8 percent year-on-year (YoY) growth in net profit to Rs 2325 crore for the quarter ended March 31.
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Independent directors of Tata Group companies where Cyrus Mistry is still the chairman should provide a comprehensive guidance to shareholders on whether he should continue in that position at respective firms, says proxy advisory firm IiAS.
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In an interview to CNBC-TV18, N Krishnamachari, MD of State Bank of Mysore spoke about the results and his outlook for the company.
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"We have improved guidance on domestic space and we believe that we will deliver on that", says Rajiv Batra, CFO of Cummins India.
