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Cognizant reports good numbers in Mar quarter, revises revenue guidance

Nasdaq-listed IT major Cognizant reported better numbers for the first quarter of CY21, as it saw recovery in its health care vertical and digital services grew faster than the company’s growth. Cognizant also revised upwards its full year revenue guidance from 7 per cent to 9 per cent (5.5- 7.5 per cent in constant currency). At the end of its financial year December 2020, the company had guided for a revenue growth of 5.5 to 8.5 per cent (4-7 per cent in constant currency). When compared to Indian players, Cognizant’s guidance does not seem to match up. Infosys has guided for revenue growth of 12-14 per cent for FY22. Tata Consultancy Services (TCS) does not give guidance but its management has said that the demand environment gives it confidence of a double-digit growth for the financial year. Similarly, HCL Technologies and Wipro, too, shared similar confidence.

Hero MotoCorp Q4 net up 38% to Rs 865 cr on entry-level bike demand

Hero MotoCorp Ltd, the country’s largest two-wheeler manufacturer, on Thursday reported a 38.2 per cent year-on-year increase in net profit to Rs 865 crore for the quarter ended March 31, as sales of its motorcycles and scooters improved on a low base of the year period and rise in demand for entry-level motorcycles in the rural and semi-urban markets. The New Delhi-based automaker reported a net profit of Rs 621 crore in the corresponding period as sales took a hit due to economic slowdown and transition to new safety and emission norms. The two-wheeler maker which had shut down its factories on April 22, has extended the closure to May 10.

Adani Transmission PAT up 82% at Rs 1,290 cr in FY21 despite dip in revenue

Adani Transmission Limited, India’s largest electricity transmission company in the private sector, today announced a cash profit of Rs 2,929 crore in the fiscal 2021, up 45 per cent year-on-year, and a profit after tax of Rs 1,290 crore, up 82 per cent. For the fourth quarter, the company’s cash profit was Rs 639 crore, a rise of 51 per cent and PAT was up 333 per cent YoY to Rs 257 crore. The company’s revenue for the fiscal 2021 was, however, down by 14 per cent to Rs 8,840 crore on a consolidated basis. This was mainly due to lower revenue contribution from distribution business which was impacted by lower electricity consumption in the commercial and industrial segment in the first half of FY21, when India announced a nationwide lockdown to control Covid-19 pandemic.

Tata Consumer Products reports net profit of Rs 133 crore in Q4

Tata Consumer Products on Thursday reported a consolidated net profit of Rs 133.34 crore for the March quarter as against a loss of Rs 50 crore in the year-ago period, mainly on account of growth in revenue and good control over expenditure. However, margins were impacted by tea cost inflation in India. The company's board has recommended a final dividend of Rs 4.05 per equity for the financial year 2020-21. Its revenue from operations rose 26.2 per cent to Rs 3,037 crore from Rs 2,405 crore reported in the same quarter last year.

Mahindra Group to open MADE, a design centre for mobility products in UK

The Mahindra Group, which has interest in fields as diverse as farm equipment, aerospace, finance, IT and real estate, among others, will be setting up Mahindra Advanced Design Europe (MADE) in the West Midlands, UK.

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