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LTI Q1 consolidated net profit up by 19.3% at Rs 496.8 cr

IT firm L&T Infotech (LTI) on Thursday reported a 19.3 per cent rise in consolidated net profit to Rs 496.8 crore for the June 2021 quarter, and declared a special dividend of Rs 10 per share. The company had registered a net profit of Rs 416.4 crore in the same period a year ago, LTI said in a statement. Its revenue was up 17.4 per cent to Rs 3,462.5 crore in the reported quarter from Rs 2,949.2 crore in the year-ago period, it added.

Wipro Q1 net rises 36% YoY, surpasses its own June qtr revenue guidance

Wipro surpassed its Q1 revenue guidance as it saw demand accelerating from cloud and digital transformation, which was further supported by the company’s new business strategy. Consolidated net profit for the first quarter grew 36 per cent at Rs 3,243 crore on a year-on-year basis, and was up 9.1 per cent sequentially. Revenue for the quarter, at Rs 18,525 crore, grew 22.3 per cent y-o-y and was up 12.4 per cent sequentially. In US dollar terms, the company reported revenue of $2.4 billion a growth of 12 per cent sequentially in constant currency. This is much ahead of the Street expectations of a growth of 10 per cent qoq. The company also stated that of the 12 per cent growth, 4.9 per cent was organic and the rest came in from Capco.

NTPC achieves faster cumulative generation in FY22 so far than last year

NTPC Group companies have achieved over 100 Billion Units (BU) of cumulative generation in the current financial year at a much faster rate than last year. Last year the group generation had crossed 100 BU on 7 August 2020, indicating improved performance and an increase in demand for power in the current year. NTPC group companies recorded a generation of 85.8 BU in the first quarter from April to June 2021, registering an increase of 26.3% from 67.9 BU generated in the corresponding quarter last year. On a standalone basis, NTPC generation increased by 19.1% to 71.7 BU in the first quarter from April to June 2021, compared to the 60.2 BU generated in the corresponding quarter last year.

Reliance Power allots 59.50 cr equity shares, 73 cr warrants to Rinfra

Consequent to approval from shareholders, through postal ballot, Reliance Power Ltd (Reliance Power), has allotted 59.50 crore equity shares and 73 crore warrants convertible into equivalent number of equity shares of the company by conversion of debt, to Reliance Infrastructure Ltd (Reliance Infrastructure), a listed promoter company. Post allotment, the holding of Reliance Infrastructure and other promoter group in Reliance Power increased to 24.98 per cent and may further increase to 38.24 per cent on conversion of warrants, which shall be subject to compliance with the applicable provisions of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 and other provisions of law, as and when applicable.

Revolt Motors sells out e-bikes within minutes of opening online sales

Revolt Motors on Thursday witnessed another round of massive electrifying sales with its e-bikes sold out within minutes of opening online sales, RattanIndia-backed EV maker said on Thursday. The company had earlier re-opened sales on June 18 but was forced to put brakes on the process within two hours of the resumption due to heavy rush. This time, the bookings were closed out within minutes of launching sales on the Revolt website, the company said in a statement.

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