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 âč8.8 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 âč12,434 crore and âč7,969 crore, for HCLTech, the number was almost flat at 0.08% YoY to âč3,986 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.
Denne historien er fra May 26, 2024-utgaven av Business Today India.
Start din 7-dagers gratis prÞveperiode pÄ Magzter GOLD for Ä fÄ tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent ?  Logg pÄ
Denne historien er fra May 26, 2024-utgaven av Business Today India.
Start din 7-dagers gratis prÞveperiode pÄ Magzter GOLD for Ä fÄ tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent? Logg pÄ
"Do what's best for employees"
BEST ADVICE - PANKAJ JATHAR | CEO | NIIT LTD
Your Palate for 2025
What's in store for you in the New Year when you go out for a meal or a drink? We ask industry experts to predict F&B trends for 2025
"RBI'S STANCE SHOULD BE TO KEEP THE RUPEE MORE VOLATILE"
Axis Bank Chief Economist Neelkanth Mishra talks about the rupee, quantitative easing, the Trump impact, and more
"We should strive towards two non-zero GST rates"
Arvind Panagariya, Chairman of the 16th Finance Commission, on further reforms in the economy, the Nehruvian era and its impact on policymaking, cash transfers, and more
A GENERATION MAROONED
This generation is creating new grammar for social and professional existence. They are reimagining the very concept of work, identity, and social belonging
A TIME OF UNCERTAINTY AND OPPORTUNITY
A look at the key trends that will redefine how content will be created, distributed, and consumed
Consciousness Shaping Consumption
India has a dynamic and discerning consumer base, whose consumption pattern is experiencing a significant transformation
THE NIFTY ELEPHANTS
The composition of the Nifty 50 index has undergone notable changes in the past 30 years, with only 11 companies consistently remaining in the index. It is expected to undergo further changes in 2025 with the entry of new-age companies like Zomato
REDEFINING THE DIGITAL AGE
For Bitcoin, its future lies not as a currency but as a cornerstone of the modern financial ecosystem
THE FUTURE OF HEALTHCARE
As AI advances, so will its role in health insurance. In the future, it shall perform a variety of complex tasks, making it more accessible and aligned with individual needs
