Indian stock markets continued their downward trend, closing lower for the fifth consecutive session. Meanwhile, Adani Green Energy announced a significant increase in its net profit for the quarter, while Tech Mahindra also reported strong Q1 results. In Canada, a series of temple vandalism incidents, including one targeting a BAPS Shri Swaminarayan Mandir, has sparked outrage and calls for action against ‘anti-India elements’.
The Global Chess League is set to return to London for its second edition, featuring top chess players competing in a unique team format. The 10-day event, scheduled from October 3-12, 2024, promises high-stakes play and strategic collaborations, attracting new audiences to the sport.
Vineet Nayyar, the former Vice Chairman of Tech Mahindra, has passed away at the age of 85. The news was announced by CP Gurnani, the former MD & CEO of Tech Mahindra on social media, who expressed his heartfelt condolences and shared fond memories of working with Nayyar.
IT major Tech Mahindra reported a significant drop in its net profit for the March quarter, with a year-on-year decline of 41%. The company’s net profit stood at ₹661 crore in the quarter ending March 2023, marking a sharp decrease from ₹1,117.70 crore reported in the same quarter last year. This financial setback has cast a shadow over the company’s performance, as it navigates the challenges of the global economic landscape.
Tech Mahindra is scheduled to announce its financial results for the March quarter on April 25, 2023. While the IT firm’s revenue growth is anticipated to be subdued year-on-year, profit numbers are projected to experience a sequential increase due to a low base in the previous quarter. However, the company faces challenges in its communications, media, and entertainment (CME) vertical, which accounts for approximately 37% of sales. Experts believe this weakness will continue to hinder the company’s overall growth trajectory.
A total of 38 companies will reveal their financial results for the fourth quarter of FY24 today, April 25. Among these companies are Nestle India, Tech Mahindra, IndusInd Bank, L&T Technology Services, Schaeffler India, Coromandel International, Jai Balaji Industries, Tata Teleservices (Maharashtra), Welspun Living, Tanla Platforms, AAVAS Financiers, and UTI Asset Management Company. Other companies scheduled to release their earnings include Glenmark Life Sciences, Kirloskar Pneumatic Company, Avantel, Quick Heal Technologies, Som Distilleries and Breweries, Wendt (India), Dr. Agrawals Eye Hospital, Wardwizard Innovations and Mobility, Shiva Cement, BEML Land Assets, Enkei Wheels (India), Prime Securities, Parshva Enterprises, G G Engineering, Gayatri Sugars, Comfort Fincap, DMR Hydroengineering & Infrastructures, Luharuka Media & Infra, and Ashish Polyplast.
