TCS reported a consolidated net profit of ₹11,909 crore for Q2FY25, reflecting a 5 percent year-on-year growth compared to ₹11,342 crore in the same quarter last year. Revenue from operations rose 7.7 percent year-on-year to ₹64,259 crore from ₹59,692 crore in Q2FY24. In constant currency terms, revenue grew by 5.5 percent. The company posted an operating margin of 24.1 percent and a net margin of 18.5 percent, with the operating margin slightly declining by 0.2 percent year-on-year.
Tata Elxsi exceeded market expectations by reporting a 14.7 percent rise in net profit for the second quarter, driven by strong demand in its transportation division. The company’s profit rose to ₹229 crore, surpassing analysts' estimates of ₹205 crore. Revenue from operations increased by 8.3 percent to ₹955 crore, aligning with analyst expectations of ₹956 crore.
Indian Renewable Energy Development Agency (IREDA) reported a net profit of ₹387.74 crore for the quarter ended September 30, 2024, marking a 36 percent increase compared to ₹284.73 crore in the year-ago period. The net profit also slightly surpassed the ₹383 crore recorded in the June quarter. Total income rose by 38.5 percent to ₹1,630 crore in Q2FY25, compared to ₹1,177 crore in the same quarter last year, and ₹1,510 crore in the June quarter.
Mazagon Dock Shipbuilders received an order worth ₹121.7 crore from Maharashtra State Power Generation Company (MAHAGENCO) for supplying, installing, and commissioning an AI-based “comprehensive infrasecure project.”
Bandhan Bank: The Reserve Bank of India appointed Partha Pratim Sengupta as the MD & CEO of Bandhan Bank. He will assume the role for a three-year term, starting no later than November 10, according to the bank’s stock exchange filing.
Anand Rathi Wealth reported a 32.4 percent year-on-year increase in net profit to ₹76.1 crore for Q2FY25, up from ₹57.5 crore in the same period last year. The company's revenue from operations rose 32.8 percent to ₹242.5 crore, compared to ₹182.6 crore in the previous year.
Den Networks posted a 14 percent year-on-year rise in net profit, reaching ₹52 crore for Q2FY25, up from ₹45.6 crore a year ago. However, its revenue from operations declined by 10 percent to ₹249 crore, down from ₹276.6 crore in the corresponding period of last year.
Oberoi Realty’s board approved a proposal to raise up to ₹6,000 crore through various financial instruments.
Zydus Lifesciences received US FDA approval to produce a generic version of Paliperidone extended-release tablets, used to treat schizophrenia.
Earnings today: Quarterly earnings are expected today from companies such as Reliance Infrastructure, Just Dial, Plastiblends India, Hathway Cable, Jagsonpal Finance, Jaypee Infratech, Atishay, PVV Infra, Universal Arts, and Sangam Finserv.
