The country's third-largest IT services company, Wipro has reported a profit of Rs. 2,930.7 crore in the September 2021 quarter. Furthermore, the profits declined by 9.6% due to a contraction in margins after a wage hike. However, gross revenue has been increased by 7.8%, making it Rs. 19,760.7 crore. Wipro also surpassed the $10 billion milestones of annual revenue run rate.
Courtesy: Money Control
Software Mogul Tata Consultancy Services has become the first IT Services company to announce increment for FY22 for all its employees, effective from April 1. Reportedly, the decision came after the company recorded a 7% increase in its net profit during third quarter, highest in last nine years, despite COVID-19 uncertainties. The salary hike will help employees with a 12-14% average increment in six months' time. Earlier, the company had … read-more
The Indian Railway Finance Corporation Ltd has reported a 16% surge of Rs 2,934 crore in its Q3 of FY21 profit ending December 2020. Additionally, the company witnessed a 10.76% rise in its total revenue that stood at Rs 11,315.51 crore. Interestingly, allowing interim dividend, the IRFC also revealed having no NPAs and credited government linkages, strong Capital Adequacy Ratio and positive credit ratings behind the growth.
Adding 13 million 4G consumers in the last quarter, Bharti Airtel reported a consolidated net profit of Rs 854 crore for the third quarter of the financial year 2021 on February 3. Besides, the telecom operator recorded a 24% growth at Rs 26,518 crore in its consolidated revenues. Interestingly, owing to the lockdown and work from home, the company witnessed a 32.4% hike in revenues from mobile services in India.
Courtesy: Live Mint
IDFC First Bank has rebounded with a net profit of Rs 130 crore for the third quarter ended on December 31, 2020, as against a net loss of Rs 1,639 crore previous fiscal. Notably, the bad loans or non-performing assets of the bank have also reduced to 1.33% from 2.83% a year ago. The bank also reported of reaching 98% of its pre-COVID collections and improvement in Net Interest Margin and quarterly NPA.
A surge of 19% in net profit was recorded by ICICI Bank for the third quarter ended on December 31, 2020. The net profit soared at Rs 4,940 crore, where it was Rs 4,146 crore a year ago in 2019. Moreover, the private sector lender witnessed a 3% surge in its asset at Rs 24,416 crore from Rs 23,638 crore last year. Notably, the capital adequacy of the company stood at 18.04%.
Courtesy: Live Mint
Leading carmaker Tata Motors has reported a 67% surge in its profit for the December quarter. Reportedly, the brand made a consolidated profit of Rs 2,906 crore, which was higher than the previous year (Rs 1,738 crore). Moreover, ease in covid restrictions and festive seasons has resulted in a record-breaking profit in its last 33 quarters. Earlier, Tata Motors had reported a loss of Rs 314 crore in the second quarter.
American tech company, Amazon registered major raise in June ended quarter profit of $345 million for the first time in last five years. During the same quarter last year, the company a saw loss of $601 million. Amazon has also infused $7 billion to digitize small businesses where India has doubled the number of local kirana stores on its platform to 11,000 since launched.