THE FOURTH QUARTER of FY24 has brought happy tidings for India Inc. A calculation of the results declared till May 6 shows that consolidated net profit rose 30% year-on-year (YoY) in Q4FY24, against a 4% rise in the year-ago period. The top line witnessed a rise of 14% YoY to ₹8.8 lakh crore.
A total of 28 companies in the Nifty 50 index had reported their results in Q4FY24 till May 6. While some of them showed resilience and growth, others grappled with challenges stemming from economic uncertainties and shifting consumer behaviour.
Let us take a closer look at the sectors. The IT sector reported a mixed set of results. While TCS and Infosys posted 9.14% and 30% YoY growth, respectively, in consolidated net profit, to ₹12,434 crore and ₹7,969 crore, for HCLTech, the number was almost flat at 0.08% YoY to ₹3,986 crore. The net profit of Tech Mahindra, LTIMindtree, and Wipro witnessed a decline of 41%, 1.23% and 8% respectively.
“The IT services industry is poised to continue moderate revenue growth in the near term. However, operating profits are expected to improve with cost optimisation measures,” says Vinod T.P., Research Analyst at Geojit Financial Services. The gross sales of TCS and Infosys rose 3.5% and 1.3%, respectively, YoY, while Tech Mahindra and Wipro reported a fall of 6.1% and 4.2% YoY.
Diese Geschichte stammt aus der May 26, 2024-Ausgabe von Business Today India.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent ? Anmelden
Diese Geschichte stammt aus der May 26, 2024-Ausgabe von Business Today India.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent? Anmelden
"Moving to cloud helped us grow❞
What was the problem you were grappling with?
She's Got Time
MORE WOMEN ARE BECOMING WATCH CONNOISSEURS, SEEKING OUT BOTH JEWELLED AND TECHNICAL WATCHES FOR THEIR STYLE AND CRAFTSMANSHIP
RISING STAR
PARUL GULATI IS a name that's been steadily gaining prominence in the Indian entertainment industry after she appeared on season 2 of Shark Tank in 2023. She has become a multifaceted personality who effortlessly transitions between acting and entrepreneurship.
Building on a Legacy
WHEN ZAHABIYA KHORAKIWALA stepped into her role as Managing Director of Wockhardt Hospitals over a decade ago, she confronted formidable challenges that have since turned into achievements.
LEADER IN INNOVATION
AS FEDEX'S PRESIDENT (Middle East, Indian subcontinent and Africa), Kami Viswanathan has a lot on her plate.
WAITING IN THE WINGS
Here are those who missed out as they have not yet completed a year in office; they'll be strong contenders in 2025
A DECENT PROPOSAL
IN TODAY'S WORLD OF TRYING TO CREATE AN EQUITABLE SPACE, BOTH MEN AND WOMEN CONTRIBUTE TO THEIR HOUSEHOLDS. WOMEN ARE ENCOURAGED TO HAVE THEIR OWN SAVINGS POOL AND INVESTMENT ROUTINE. GIVEN THIS, HOW SHOULD FUTURE BRIDES APPROACH FINANCIAL PLANNING?
Women and the STEM Bias
EMPOWERING WOMEN IN STEM WILL NOT ONLY BENEFIT INDIVIDUALS, BUT ALSO STRENGTHEN THE ENTIRE INDUSTRY, DRIVING INNOVATION AND PROGRESS.
ROCKET WOMEN
WOMEN IN INDIA ARE NOT ONLY VENTURING INTO SPACE BUT ARE ALSO STARTING TO SPEARHEAD THE COUNTRY'S EFFORTS IN THE GLOBAL SPACE RACE.
ONE STEP FORWARD
THE NUMBER OF WOMEN INDEPENDENT DIRECTORS IS GROWING STEADILY, BUT IT'S A LONG WAY FROM GENDER PARITY. MUCH MORE NEEDS TO BE DONE TO BREAK THE GLASS CEILING IN BOARDROOMS.
