TECH MAHINDRA LTD Q1 RESULTS
M&M shares fall over 2% on reporting muted Q1 profit. Should you invest?
Mahindra & Mahindra's shares fell over 2% after the company reported a 5% decline in standalone Q1 net profit to Rs 2,613 crore, despite a 12% rise in operational revenue. Leading brokerages, including BofA, JP Morgan, and Nuvama, remain optimistic, adjusting their target prices upwards.
M&M Q1 Results: Standalone net profit falls 5% YoY to Rs 2,613 crore, revenue jumps 12%
M&M Q1 Results: The net profit was Rs 2,759 crore in the last year quarter. The auto player's Q1 revenue of ₹27,039 crore was driven by a 14% increase in vehicle sales. EBITDA also climbed 16% to ₹4,116 crore. The auto segment led the growth, with revenue up 16% and profit soaring 35% (excluding prior year gains).
M&M expected to outperform industry growth this year, especially in PV segment: Abhishek Gaoshinde
M&M's tractor segment exhibited solid performance while the automotive segment remained steady, leading to higher-than-expected EBITDA margins. Despite lower other income affecting the bottom line, the operational results were good. Projections indicate that new capacities and a strong order book will drive valuation improvements with potential EV business value unlocking.
Mahindra and Mahindra Q1 Preview: Revenue may rise 16% YoY, but profit seen muted
Mahindra and Mahindra experienced notable revenue growth in Q1 FY24, driven by robust performance in its tractor and automotive segments. While revenue increased about 16%, profits remained flat or saw a slight decline. The company's overall volume grew by 11%, bolstered by 13% growth in autos and 6% in tractors.
IT firms’ Q1 job data suggest they may end FY25 with higher headcount
The number of aggregate employees at Tata Consultancy Services, Infosys, Wipro, HCLTech and Tech Mahindra dropped by 2,034 sequentially in the first quarter ended June 30, according to the quarterly data they announced in July. Three of the companies — TCS, Wipro and Tech Mahindra — registered net additions in headcount.
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.
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Tech Mahindra Q1 profit up 23% to Rs 851 crore, revenue down
IT services company Tech Mahindra on Thursday reported 23% year-on-year (YoY) growth in its consolidated net profit at Rs 851 crore in the June quarter. The profit was slightly below the Street estimate of Rs 870 crore.
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%.
Q1 results today: Nestle, Tech Mahindra among 76 companies to announce earnings on Thursday
Companies like Adani Energy, Ashok Leyland, Canara Bank, Chalet Hotels, Cyient, Glenmark Life, Laurus Labs, L&T Foods, Mahindra Holidays, PNB Housing Finance, Venus Pipes, Vivanta Industries among others will also declare their results
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.
L&T Q1 Results: Cons PAT jumps 12% YoY to Rs 2,786 cr, revenue rises 15%
L&T Q1 Results: Revenue from operations grew 15% YoY to Rs 55,120 crore, driven by strong performance in the projects and manufacturing (P&M) portfolio, supported by a substantial order book. In the first quarter, the company secured orders worth Rs 70,936 crore at the group level, showing an 8% year-on-year increase, thanks to robust ordering activity in the Middle East.
Q1 results today: L&T, Axis Bank among 67 companies to announce earnings on Wednesday
67 companies, including L&T, Axis Bank, Bajaj Finserv, and SBI Life, will release April-June 2024 results. L&T expects 8% growth. Axis Bank's net interest income is up 11%, with net interest margins down; it reported Rs 7,130 crore profit in March quarter compared to last year's loss. Results from various companies are anticipated.
Kotak Bank shares drop over 3% as Q1 NIMs disappoint. Should you invest?
Kotak Mahindra Bank saw its shares drop 3% due to NIM disappointment at 5.02% for Q1FY25. Despite a robust 81% increase in standalone net profit to Rs 6,250 crore, concerns persist over funding costs and margin pressures. Brokerages advise caution as RBI restrictions continue to impact growth and profitability.
Sensex falls over 300 pts as RIL & bank stocks tumble, Nifty below 24,400
Ahead of the budget, Indian markets fell. Sensex dropped 355 points, Nifty50 by 148 points. Reliance fell 2.5% from lower fuel margins; HDFC Bank, the country's top private lender, rose 1% after beating profit forecasts; Wipro dropped 8% due to weak demand in Europe and Asia-Pacific. Mixed performance among key stocks in early trading.
Q1 results today: IDBI Bank, Suzlon Energy among 44 companies to announce earnings on Monday
IDBI Bank and Suzlon Energy are among 44 companies announcing first quarter results. IDBI Bank shows growth in deposits and advances, while Suzlon Energy reports a decline in profit. Stay informed about these companies' financial performance.
Kotak Mahindra Bank bets on deeper ties with customers
Kotak Mahindra Bank addresses the impact of RBI embargo on margins and unsecured loan business. Plans for branch expansion and deposit mobilization initiatives are in progress. Current accounts and savings share decreases while average deposits see an increase.
A Swiss company cheered up Kotak Mahindra Bank amid RBI's glare
Kotak Mahindra Bank's Q1 FY25 profit surged nearly 80% due to Zurich Insurance's acquisition of a 70% stake in Kotak General Insurance. The deal, completed in June 2024 for Rs 4,095.8 crore, added Rs 3,013 crore to the bank's consolidated profit. Kotak now holds a 30% stake in the insurance venture.
Kotak Mahindra Bank Q1 Results: Standalone PAT grows 81% YoY to Rs 6,250 crore, beats Street's estimates
Kotak Mahindra Bank reported an 81% surge in its standalone net profit of Rs 6,250 crore for the quarter ended June 30, 2024, beating Street's estimates of Rs 3,682 crore. Net interest income was up 10% YoY at Rs 6842 crore
Q1 Results Today: What to expect from HDFC Bank and Kotak Bank’s earnings
HDFC Bank's Q1 FY25 financial results are likely to be less impressive than the previous quarter, primarily due to slower deposit growth. The merger with HDFC Ltd. makes year-over-year comparisons irrelevant. Loan growth is also expected to moderate, impacting net interest income. While the bank navigates the challenges of integration and a tougher economic environment, its profitability might see a minor dip in this quarter.
UltraTech Cement Q1 Results: Cons PAT rises marginally to Rs 1,697 crore, revenue up 2% YoY
The revenue from operations stood at Rs 18,070 crore, which represents a 2% increase compared to Rs 17,737 crore reported by the company in the corresponding quarter of the last financial year. On a sequential basis, the cons PAT was down by 25% over Rs 2,258 crore reported by the cement maker in Q4FY24.
Tata Tech shares fall 2% after Q1 results fail to impress. Should you still invest?
Tata Technologies' shares fell 2% after reporting a 15% YoY drop in net profit to Rs 162.03 crore, affected by higher technology expenses. Revenue rose 0.9% YoY to Rs 1,269 crore. With VinFast exit, Kotak advised Sell while JM Financial recommended Buy, forecasting growth through BMW JV, 5 deal wins, resilient margins, education business, and resumed projects.
Confident of meeting overall guidance of 3-5% constant currency growth for the year: HCL CEO
The Q1 has typically been HCL's weakest margin quarter with the top line impacts which have also been seasonal in that sense and Q1 even in the previous two years has been around that 17%, which is where HCL landed up this quarter as well, says CFO Prateek Aggarwal. Typically, Q2 picks up to something like 18% and Q3 is the peak, which goes to 19% plus and then the Q4 again comes back to that same second-quarter level
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.
HCLTech headcount dips by 8,080 in Q1FY25
HCLTech experiences a notable increase in employee count by 8,080 for the quarter ending June, reaching a total of 219,401 employees. Meanwhile, TCS adds 5,452 employees, reversing headcount reduction trend. HCLTech reports a 20.4% YoY increase in net profit for Q1FY25.
HCL Tech’s weak Q1 revenue hints at demand concerns
HCL Tech's Q1 FY25 results were mixed, with better-than-expected net profit due to higher other income offsetting disappointing revenue growth. Operating margins were under pressure as anticipated, and the company secured fewer new deals compared to the previous quarter, a trend also seen in its larger competitor, TCS.
HCL Tech Q1 Results: Cons PAT jumps 20% YoY to Rs 4,257 crore, beats estimates
HCL Tech Q1 Results: Profit rose 7% from the previous quarter, while revenue dipped 1.5%. Constant currency revenue increased 6% year-on-year but fell 1.6% quarter-on-quarter. EBIT increased 7% year-on-year to Rs 4,795 crore but decreased 4% quarter-on-quarter.
TCS, Infy power D-Street to fresh record highs! Sensex soars 900 points, Nifty tops 24,500 for the first time
Indian markets rose Friday, led by TCS's strong June quarter. Sensex climbed 281 points, Nifty50 up 93 points. Stocks like TCS, Infosys, and Adani Ports surged. Maruti fell. US inflation data raised September Fed rate cut chances, noted by CME FedWatch. RBI's Das predicted 5% retail inflation. Powell's testimony hinted at possible rate cuts.
Q1 results today: HCL Tech, IREDA among 14 companies announce earnings on Friday
TCS has started the first quarter earnings season with positive results, signaling an improved business environment. Today, HCL Tech, along with 13 other companies, will announce their earnings for the quarter ended June. Other notable companies reporting earnings include 5paisa Capital, Atharv Enterprises, Betala Global Securities, Gautam Gems, Golkonda Aluminum, Indo Cotspin, Infomedia Press, IREDA, and Oriental Hotels.
HCL Tech Q1 Results Preview: PAT may grow 6% YoY to Rs 3,745 crore, revenue uptick seen at 6.5%
Revenue for the quarter is projected to be Rs 27,997 crore, marking a 6.5% increase over the same quarter of the previous financial year, according to average estimates. Although the company is expected to report year-on-year growth in profit after tax (PAT), a sequential decline is anticipated due to project completions and reduced discretionary spending.
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