HCL Tech: IT services company HCL Technologies on Thursday reported over a three-fold jump in its consolidated net profit for the fourth quarter ended March 2022 at ₹3,593 crore as it struck an optimistic note about the "buoyant" market environment and "strong momentum across verticals and service lines" to guide for 12-14 per cent revenue growth for FY23. HCL Tech expects revenue to grow between 12-14 per cent in constant currency, for the fiscal 2023, as the demand environment is "robust". HCLT board has declared an interim dividend of ₹18 per equity share of ₹2 each for the financial year 2022-23.
Paytm: Paytm owner One97 Communications on Thursday posted a shareholding update which showed that retail shareholders have more than doubled their stake in the company. Canada Pension Plan Investment Board (CPPIB) has also increased its stake in Paytm from 1.57 to 1.71 per cent in the quarter ended March 2022, according to the regulatory filing.
L&T Technology Services: L&T Technology Services on Thursday reported an increase of 34.7 per cent in consolidated net profit to ₹262 crore for the quarter ended March 2022. The company had posted a net profit of ₹194.5 crore in the same period a year ago.
ICICI Lombard General: ICICI Lombard General Insurance Company on Thursday reported 10 per cent decline in net profit at ₹313 crore for the fourth quarter ended March 2022. The non-life insurer had posted a net profit of ₹346 crore in the corresponding period of 2020-21.
Barbeque Nation: Investment firm Menu Pvt Ltd divested 1.30 per cent stake in casual dining chain Barbeque Nation for about ₹59 crore through an open market transaction. Those who picked up the shares of the Bengaluru-based casual dining chain were ace investor Ashish Ramesh Kacholia and Everest Finance and Investment Company.
Tata Communications: Digital connectivity solutions firm Tata Communications on Thursday posted a 22 per cent growth in consolidated profit at ₹365 crore for the quarter ended March 2022. The company had registered a profit of ₹299.2 crore in the same period a year ago.
Future Retail: A clutch of lenders accounting for most of the loans to debt-laden Future Group on Thursday rejected a proposal to sell its retail, wholesale and logistics assets to Reliance Retail Ventures Ltd after the Reliance Industries Ltd unit cut the deal value in a surprise move, two people aware of the development said.
TVS Motor: TVS Motor Company on Thursday said it has invested a total of 100 million pounds (about ₹995 crore) in Norton Motorcycles, Britain's most iconic sporting motorcycle brand, which it acquired in April 2020. TVS Motor Company had acquired Norton Motorcycles for 16 million pounds (around ₹153 crore).
ITC: ITC Ltd. has opted for partial price increases on its diary products, as one of India’s biggest maker of fast-moving consumer-goods seeks to limit the pain on buyers, a top official said Thursday. The comments from Kolkata-based ITC, which earns 28% of its revenue from sale of consumer products that includes chips, cookies and soaps, comes on the back of its smaller rival Nestle India Ltd’s grim outlook on rising input costs.
Rallis India: Rallis India, a subsidiary of Tata Chemicals, on Thursday reported a consolidated loss of ₹14 crore for the March quarter due to multiple challenges, including in seeds business. The company has posted a consolidated profit after tax of ₹8 crore during the corresponding quarter of the previous financial year, Rallis India said in a BSE filing.
