Infosys: The IT major reported 3% decline in consolidated net profit to Rs 5,945 crore on a 1.3% rise in revenue to Rs 37,933 crore in Q1 FY24 over Q4 FY23. On a year on year basis, the company's net profit and revenues are higher by 10.9% and 10%, respectively as compared with Q1 FY23.
The IT giant has lowered its FY24 revenue guidance to 1% - 3.5%, a revision from the previous quarter's projection of 4% - 7% in constant currency, while maintaining the operating margin guidance at 20% - 22% for the same fiscal year.
Hindustan Unilever (HUL): The FMCG major reported 8% rise in standalone net profit to Rs 2,472 crore on 6.53% increase in revenue from operations to Rs 14,931 crore in Q1 FY24 over Q1 FY23.
Larsen & Toubro (L&T): The engineering and infrastructure major said its board of directors has scheduled a board meeting on 25 July 2023 to consider the buyback of equity shares of the company, and special dividend for the financial year 2023-24. If approved, the record date for determining the entitlement of the equity shareholders for the dividend will be August 2.
IndusInd Bank: The private bank has received board approval for raising of funds through debt securities in any permitted mode on a private placement basis as may be decided, for an aggregate amount of Rs. 20,000 crores or its an equivalent amount in such foreign currencies.
Utkarsh Small Finance Bank: Shares of the small finance bank will debut on the bourses today, 21 July 2023. The issue price is Rs 25 per share.
LTIMindtree: LTIMindtree announced its strategic partnership with CYFIRMA, an external threat landscape management platform company, to enhance the threat intelligence capabilities of its XDR platform and help global enterprises identify, evaluate, and manage potential risks and threats.
Persistent Systems: The IT company reported 9% decline in consolidated net profit to Rs 228.7 crore on a 3% rise in revenue to Rs 2321.1 crore in Q1 FY24 over Q4 FY23.
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