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ITC June quarter profit flat at ₹4,917 cr, revenue rises 7.2% to ₹18,220 cr | Mint
Livemint
·
1y ago
Medial
ITC Ltd reported a 0.30% rise in standalone net profit for the June quarter, missing market expectations. Net profit stood at ₹4,917.45 crore, slightly higher than the previous year but falling short of the estimated ₹5,160 crore. However, revenue from operations grew by 7.2% to ₹18,219.74 crore, exceeding estimates. The company remains optimistic about consumption demand, citing moderating inflation, improving agri terms of trade, and government initiatives. Expenses increased by 10.8% during the quarter, impacting the overall margins of the company. The FMCG segment (excluding cigarettes) saw 6.3% growth in revenue.
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Cognizant's June quarter net profit rises 22% to $566M
YourStory
·
1y ago
Medial
Cognizant Technology Solutions reported a 22% increase in net profit for the June quarter, surpassing expectations. The company also adjusted its revenue guidance for the full year 2024. It now expects revenue to be between $19.3 billion and $19.5 billion, a decline of 0.5% to a 1% increase, assuming some inorganic contribution. Cognizant's Q2 net profit stood at $566 million, up 22.2% from the same period last year. The company's improved revenue momentum in the second quarter was driven by its financial services and health sciences segments.
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Procter & Gamble sees demand recovery on good monsoon and as inflation softens | Mint
Livemint
·
10m ago
Medial
Procter & Gamble Hygiene and Health Care (PGHH) has reported positive trends in demand due to plentiful monsoon rains and softening inflation. The company highlighted declining rural wages and rising unemployment as short-term concerns for consumption. PGHH will focus on its integrated growth strategy, prioritizing daily-use products and expanding product reach. The fast-moving consumer goods (FMCG) industry in India saw a slowdown in volume growth in the June quarter, with packaged foods experiencing declining sales. PGHH's sales for the year ended June 2024 increased by 7%, while net profit remained flat.
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Zomato’s revenue rises 74% on Blinkit, Hyperpure surge
Economic Times
·
1y ago
Medial
Zomato, the food and grocery delivery company, reported a net profit of Rs 253 crore for the April-June quarter, significantly higher than the Rs 2 crore profit in the same period last year. Operating revenue also rose by 74% to Rs 4,206 crore. The company's better-than-expected performance led to a spike in its share price, reaching a market capitalization of nearly $25 billion. Zomato's revenue growth was driven by its quick-commerce vertical Blinkit and grocery supply unit Hyperpure. The company is also launching a standalone app, District, for its going-out business, expanding beyond dining out.
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Slow business outside Wipro’s biggest growth segments hurts revenue | Mint
Livemint
·
1y ago
Medial
Wipro Ltd., a leading IT services company, has reported a decline in revenue for the quarter ending June. This marks the second consecutive quarter of revenue decline, following a trend set by HCL Technologies Ltd. The decline was largely driven by the company's oil and natural gas business segment. While Wipro's net profit saw modest growth, the company is expected to face further declines in the next quarter. Despite the challenging market conditions, Wipro's CEO remains optimistic and emphasizes the need to win deals and grow accounts to recover from the soft quarter.
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Infibeam posts Rs 1,160 Cr revenue in Q4 FY25; profit rises 20%
Entrackr
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2m ago
Medial
Infibeam posts Rs 1,160 Cr revenue in Q4 FY25; profit rises 20% Digital payments firm Infibeam has reported a 62% increase in revenue during the fourth quarter of the last fiscal year (Q4 FY25), while its year-on-year profit rose by 20%. Infibeam’s revenue from operations increased to Rs 1,160 crore in Q4 FY25 from Rs 716 crore in Q4 FY24, its consolidated financial statements accessed from the National Stock Exchange (NSE) show. For the full fiscal year (FY25), Infibeam’s operating revenue increased 27% to Rs 3,992 crore in FY25 from Rs 3,150 crore in FY24. Payment business accounted for 95% of its total collection which increased by 64% to Rs 1,098 crore in Q4 FY25. Meanwhile, there was a 35% increase in the e-commerce platform business, which rose to Rs 62 crore. The Ahmedabad-based firm recorded a total revenue of 1,180 crore in Q4 FY25. For the full fiscal year (FY25), its total income stood at Rs 4,066 crore. Infibeam operates a diversified digital platform, with a primary focus on digital payments and e-commerce solutions. On the cost side, the company’s total expenses rose by 66% to Rs 1,104 crore in Q4 FY25. For the digital payment firm, its payment processing was the largest cost center, rising by 68% to Rs 1,025 crore. Employee benefits increased by 30% to Rs 39 crore, while depreciation cost grew 6% to Rs 18 crore. Infibeam Avenues also incurred Rs 22 crore on other undisclosed expenses in the said quarter. For the fiscal year ending March 2025, the firm’s total expenses increased to Rs 3,768 crore. In the end, the company reported profit after tax of Rs 55 crore in Q4 FY25, 20% up from Rs 46 crore in Q4 FY24. On a fiscal year basis, its profit increased to Rs 236 crore in FY25 from Rs 156 crore in FY24. At 15:31 PM today, its market cap stood at Rs 5,579 crore while the firm’s stock was trading at Rs 20.
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Justdial Q3 Results: Profit surges 22% YoY to INR 92 Cr, revenue rises to INR 265 Cr
Inc42
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1y ago
Medial
Hyperlocal search engine, Justdial, witnessed a 22.3% YoY increase in consolidated net profit to INR 92 Cr in Q3 FY24. The company reported a net addition of 1.4 Mn active listings, bringing the total to 41.6 Mn. Operating revenue grew by 19.7% to INR 265 Cr in the same quarter. Justdial's expenses stood at INR 218.9 Cr, while employee benefit expenses increased 6.6% YoY to INR 178.5 Cr. The number of unique visitors rose to 165.9 Mn, with a majority of traffic coming from mobile devices.
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Jio may outshine Airtel in June quarter revenue growth
Economic Times
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1m ago
Medial
Reliance Jio's revenue growth outpaced Bharti Airtel in the June quarter, boosted by its addition of higher-paying fixed wireless access home broadband users. Jio's average revenue per user (ARPU) rose 1.8% to ₹210, while Airtel's ARPU was higher at ₹249, with a growth rate of 1.6%. Jio's revenue increased by 2.7% quarter-on-quarter to ₹31,200 crore. In contrast, Airtel's wireless services revenue grew 2.6%, with a 47% rise in net profit.
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NMDC Q3 net profit rises 62.6% Y-O-Y to Rs 1,469.7 crore
Money Control
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1y ago
Medial
India's largest iron ore producer, NMDC, reported a 62.6% increase in its consolidated net profit for the December quarter compared to the same quarter last year. The rise was attributed to strong domestic steel demand. NMDC's net profit stood at Rs 1,469.73 crore ($206 million) for the quarter, a sequential increase of 43%. The company's consolidated revenue from operations also rose by 45% year-on-year, reaching Rs 5,409.9 crore ($759 million). The increased demand for iron ore and rising prices contributed to NMDC's positive results.
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BSNL blues to global gloom, TCS clocks yet another bleak quarter
Livemint
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29d ago
Medial
Tata Consultancy Services (TCS) reported a third consecutive quarter of declining revenue, with June quarter revenues at $7.42 billion, down 0.59% from the previous quarter and 1.12% year-over-year. This marks TCS’s poorest Q1 performance since June 2020. Despite a 5.3% rise in net profit, challenges persist due to global economic uncertainties and cautious client spending, reflected in an unannounced wage hike and conservative outlook on business from domestic and international clients.
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Nazara posts Rs 520 Cr revenue and Rs 4 Cr PAT in Q4 FY25
Entrackr
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2m ago
Medial
Nazara posts Rs 520 Cr revenue and Rs 4 Cr PAT in Q4 FY25 Gaming and sports media firm Nazara Technologies reported a 95% year-on-year rise in operating revenue for Q4 FY25. However, the Mumbai-based company’s profit remained modest at Rs 4 crore in the final quarter of the previous fiscal year. Nazara’s operating revenue rose by 95.3% to Rs 520 crore in Q4 FY25 from Rs 266 crore in Q4 FY24, according to its audited consolidated financial statements sourced from the National Stock Exchange (NSE). E-sports accounted for 41.5% (Rs 216 crore) of the company’s total operating revenue, while the gaming segment held a 30% share (Rs 156 crore), followed by ad tech, which contributed 28% (Rs 148 crore). Nazara also earned Rs 18 crore from interest and gains on financial assets during the quarter, bringing its overall revenue to Rs 539 crore. However, the company posted a 40.8% YoY increase in its total income to Rs 1,715 crore in FY25, compared to Rs 1,218 crore in FY24. On the line of scale, Nazara’s total expenses surged by 85.3% to Rs 528 crore in Q4 FY25, compared to Rs 285 crore in the same quarter last year. Content and commission costs together stood at Rs 186 crore, while employee benefit expenses rose to Rs 80 crore. Notably, marketing expenses saw a sharp 3.5X jump, reaching Rs 151 crore in Q4 FY25. Despite a 95% year-on-year revenue growth in Q4, the company’s profit remained flat at Rs 4 crore in Q4 FY25. For the full fiscal year, its net profit declined to Rs 51 crore in FY25 from Rs 74.7 crore in FY24. Last week, the Competition Commission of India (CCI) also approved the acquisition of a majority stake and control over Nazara Technologies Limited by Axana Estates LLP, Plutus Wealth Management LLP, and Junomoneta Finsol Private Limited. Nazara is currently trading at Rs 1,270 (as of 03.41 PM) with a total market capitalization of Rs 11,127 crore (approximately $1.3 billion).
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