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L&T Infotech Q1 Results | Net profit rises 28% YoY to Rs 633 crore

L&T Infotech on July 14 reported a consolidated profit after tax (PAT) of Rs 633.50 crore for the quarter ended June 2022, up 27.64 percent from Rs 496.30 crore a year back. On a sequential basis, profit for the quarter was almost flat compared to the reported profit of Rs 637 crore in the March quarter.

Consolidated revenue from operations came in higher by 30.62 percent at Rs 4,522.8 crore for the quarter from Rs 3,462.5 crore in the year-ago period. Quarter-on-quarter, it grew 5.14 per cent. The company said its revenue grew 26.6 percent YoY in constant currency.

Murugappa Group company to launch electric three-wheelers by September

TI Clean Mobility, a Murugappa Group company that is preparing to introduce the Montra brand of electric three-wheelers in India, will keep investing to expand capacity and freshen its product portfolio. Globalisation and technology advancements “have catalysed the process of integrating the electric vehicle ecosystem,” said Arun Murugappan, Executive Chairman of Tube Investments of India. TI Clean Mobility is a fully owned unit of Tube Investments, a Murugappa Group company.

Marico sees better margin in H2FY23 on likely cooling of commodity prices

FMCG firm Marico expects demand and margin trends to improve towards second half of FY23 on likely easing of crude and edible oil prices in next few months, said the latest annual report of the company. It will closely watch the rural growth and is hopeful of a recovery in demand in light of the good harvest season, normal monsoon forecast and government spending.

On the margin front, Marico, which has oil brands such as Saffola and Parachute in its portfolio, said there is "some degree of comfort" given that copra price, which constitutes about half of its raw material basket, is expected to remain benign.

Airtel approves allotment of 71.1 mn shares to Google at Rs 734 per share

Telecom major Bharti Airtel on Thursday approved the preferential allotment of 71.1 million shares to tech giant Google, at an issue price of Rs 734 per share, the company said in a regulatory filing. The company's 'Special Committee of Directors for Preferential Allotment' met earlier today and has given the nod for the decision.

Welspun Corp associate company bags Rs 689-cr steel pipe order in Saudi

Welspun Corp on Thursday said its associate company, East Pipes Integrated Company for Industry, has received an order of 324 million Saudi Riyal (around Rs 689 crore) from Saline Water Conversion Corporation in Saudi Arabia. The order is for the manufacture and supply of steel pipes and will be executed in the ongoing financial year, the company said in a statement.

Shapoorji Pallonji Real Estate eyes Rs 400 crore sales in Bengaluru

Shapoorji Pallonji Real Estate is targeting sales of Rs 400 crore from its new residential tower in Bengaluru. The company has launched a tower named 'CEDAR', comprising 225 apartments, in its 46-acre residential project Parkwest in Bengaluru, Shapoorji Pallonji Real Estate said in a statement.

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