Shares of Tata Group retailer Trent, which have surged nearly 500% in three years, jumped 6% in Tuesday's early trade on BSE to a lifetime-high of Rs 4,628 after brokerages raised target prices following a five-time surge in March quarter net profit to Rs 654.28 crore, as compared to Rs 105.13 crore in the fourth quarter last year.The lifestyle retail arm that runs Westside and Zudio reported a revenue of Rs 3,298 crore, up 51% year-on-year (YoY) from Rs 2,183 crore reported by the company in...
Tech Mahindra, country's fifth largest IT services firm, reported a decline in net profit of 40.9% year-on-year (YoY)to `661 crore primarily driven by slowdown in its telecom, communications, media and entertainment business, which is its largest vertical with 36.5% market share.The profit stood at Rs 1,118 crore in last year's March quarter. Sequentially, profit grew 29.6% from Rs 510 crore in the December quarter because of a one-off gain. The Pune-headquartered firm’s consolidated revenue...
With Wipro and Infosys’ results out this week, the fourth quarter earnings season will now pick up pace as the upcoming week will witness the results for Axis Bank, ICICI Prudential Life Insurance, Mahindra & Mahindra Financial Services, Tata Elxsi, along with 167 other companies.Other big players across sectors, like HUL, Indian Hotels, OFSS, Bajaj Finance among others will be seen reporting their results.Q4 earnings to watch out for this week:April 21, SundayIT company, Persistent Systems is...
Fiserv, a provider of payments and financial services technology solutions, announced its financial results for the first quarter of 2024 on Tuesday.
CMA gives pair until end of this week 'to offer solutions' to resolve
Profit growth momentum of the so-called Big Six technology stocks could “collapse” over the next few quarters, UBS Global Research strategists said on Monday, downgrading its rating on the mega-cap companies. Growth in earnings per share (EPS) of the “Big 6 TECH+” stocks—Apple, Amazon.com, Alphabet, Meta, Microsoft, and Nvidia—was projected to decline to 15.5% by the first quarter of 2025, from 42.2% estimated for the same period this year, strategists led by Jonathan Golub said. “Our...
India's fourth largest IT services firm, Wipro, on Friday reported a fall in net profit and revenue from a year earlier in the fiscal fourth quarter, hurt by a contraction in clients' technology spending in key growth verticals and regions.The Bengaluru-based company posted a net profit of Rs 2,834.6 crore for the quarter through March, 7.8% lower than a year earlier. Revenue fell 4.2% to Rs 22,208 crore. On a sequential basis, profit increased 5.2%, while revenue was flat. In constant currency,...
Pune-based global IT services provider Birlasoft Ltd on Monday reported a 60.7% year-on-year jump in net profit at ₹180 crore for the fourth quarter that ended March 31, 2024.In the corresponding quarter, Birlasoft posted a net profit of ₹112 crore, the company said in a regulatory filing. The company's revenue from operations increased 11.1% to ₹1,362.5 crore against ₹1,226.3 crore in the corresponding period of the preceding fiscal.At the operating level, EBITDA jumped 32.7% to ₹221.5 crore...
When the news emerged Thursday that someone had bought the Onion, the beloved satirical news outlet, details were sparse and strange. A message from G/O Media CEO Jim Spanfeller to staff, shared by Axios media reporter Sara Fischer, simply said that G/O had sold the Onion to a Chicago-based firm made up of “four digital media veterans” called Global Tetrahedron. If the name feels gag-worthy, it is: The satirical paper has used the name for years in parodies of ridiculous business practices. But...
Kaiser Permanente, the Oakland-based health care conglomerate, is warning millions of customers that one of its divisions may have exposed their names, symptom searches and other data to major tech companies. Kaiser Foundation Health Plan Inc. disclosed the data breach to the U.S. Department of Health and Human Services on April 12. TechCrunch first reported the news. Kaiser told SFGATE in a statement on Thursday, “certain online technologies, previously installed on its websites and mobile...
Six months after layoffs at food technology company City Storage Systems, another round of cuts hit teams globally, per leaked audio obtained by Business Insider.More than 80 US employees were cut at Otter, the company's restaurant tech arm, said a source familiar with the people laid off. Layoffs also affected teams in Canada and Latin America, among other regions.Otter head Guido Gabrielli told staff in an all-hands meeting on Thursday that Otter made the cuts because the company is "trying to...
CEO Joseph Otting took over NYCB in April after an investor group led by former Treasury Secretary Steven Mnuchin injected more than $1 billion into the lender.