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DMart Q1 results: Net profit jumps 132% to Rs 115 cr; revenue rises 31%

DMart operator Avenue Supermarts on Saturday reported 132% jump in standalone net profit at Rs 115 crore for the June quarter. It was Rs 50 crore in the year-ago period. Total revenue rose 31% to Rs 5,032 crore as compared to Rs 3,833 crore in June 2020. Earnings before Interest, Tax, Depreciation and Amortization (EBITDA) in Q1FY22 stood at Rs 221 crore, as compared to Rs 109 crore in the corresponding quarter of last year. EBITDA margin stood at 4.4% in Q1FY22 as compared to 2.8% in Q1FY21. Basic Earnings per share (EPS) for Q1FY22 stood at Rs 1.78, as compared to Rs 0.77 for Q1FY21.

Godrej Properties to invest over $1 bn in next couple of years: chairman

Realty firm Godrej Properties Ltd (GPL) plans to invest more than USD 1 billion over the next couple of years to acquire and develop new projects as part of its target to achieve higher growth, its Executive Chairman Pirojsha Godrej has said. Addressing shareholders in the company's annual report, he highlighted that, for the first time, Godrej Properties was "India's largest developer by the value and volume of sales it achieved.“ The company's sales bookings grew 14 per cent to a record Rs 6,725 crore last fiscal despite adverse impact of the COVID pandemic, surpassing nearly Rs 6,000 crore clocked by Macrotech Developers (erstwhile Lodha Developers.)

TCS plans to hire over 40,000 freshers from Indian campuses in FY22

Tata Consultancy Services (TCS) — which now has more than 500,000 employees — has said it plans to recruit more people in FY22 than it did in the previous fiscal year. “Last year, we hired 40,000 associates from campuses in India, this year the number may be even more. Similarly, in the US, we hired 2,000 employees from campuses in FY21 and the number is likely to be higher this year. The story will be the same for Latin America as well,” Milind Lakkad, CHRO, TCS, said in a media briefing. For the first quarter of FY22, TCS added 20

Reliance Jio tops 4G chart with 21.9 mbps download speed in June: Trai

Reliance Jio continues to maintain leadership position in the 4G internet segment with 21.9 megabit per second average download speed in June, while Vodafone Idea topped the chart in upload segment with 6.2 mbps data speed, according to the latest data published by telecom regulator Trai. Reliance Jio's 4G network speed marginally increased and it was over three times higher than that of the nearest competitor Vodafone Idea, which showed an average download speed of 6.5 mbps. Airtel's average 4G download speed improved marginally and was still the lowest at 5 mbps, according to data published by the Telecom Regulatory Authority of India (Trai) on Thursday.

India Inc expects swifter recovery from second wave of Covid-19 pandemic

Recovery from the second wave of the pandemic in April-May is expected to be swifter as compared to the first wave in 2020, according to the Confederation of Indian Industries (CII) Chief Executive Officers (CEOs) poll of 119 top corporates. During the second wave, the lockdowns were largely designed to limit social gatherings and impact on economic activities was restricted. This helped arrest the impact of the second wave on economic growth, according to a survey conducted by the industry lobby group Confederation of Indian Industries (CII). About 59 per cent of the CEOs polled expect the recovery in sales to be better than in the first wave for their companies.

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