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By Anjana Therese AntonyWhile there seems to be no immediate respite from muted earnings growth for India's large-cap information technology companies, it is likely that most mid-cap players will continue to fare much better than the industry giants in the June quarter. Various broking firms believe the sector is showing some signs of resilience as the deterioration in demand is not as bad as what was expected at the beginning of the June quarter, even as uncertainty about US tariffs continues to keep clients tentative. Register to read more
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ICICI Bank's net profit for the June quarter rose 15.5% to INR 127.68 billion from INR 110.59 billion a year ago, beating analysts' estimate of INR 118.88 billion. Total income for the quarter was INR 514.52 billion, up almost 12% from INR 459.98 billion a year ago. Read more
By Anshul Choudhary and Sunil RaghuReliance Industries Ltd.'s consolidated net profit for the June quarter surpassed expectations owing to a one-time income of over INR 89.00 billion from "profit from sale of listed investments". However, excluding this one-time income, the company's operating profit was slightly below analysts' estimates. Read more
By Rajesh Gajra Hot rolled coil steel prices moderated in June and partly this month as well, after having moved up in Mar-Apr and partly in May, the management of the largest steel manufacturer in India JSW Steel Ltd. said Friday in a post-earnings conference call with investors and analysts. The company's management said the price moderation was due to the ongoing uncertainties globally and some of the cheaper steel imports finding its way into India. Read more
By Rajesh Gajra Eternal Ltd., formerly Zomato Ltd., will likely report an on-year fall in its bottom line for the June quarter primarily due to operating losses in its quick commerce vertical, which is its Blinkit network, as well as its dine out business. These segments make up for two of three verticals under Eternal's business-to-commerce segment with the third vertical being food delivery. Read more
By Anand JC Reliance Industries Ltd. Friday said that the company is currently pursuing collaborative exploration across the east coast of India. The company plans to undertake infrastructure-led exploration activities in and around the Krishna Godavari basin, given that it has a rig coming by next year, it told analysts in a post earnings presentation. Read more
By Anand JC and Simran Rede Reliance Industries Ltd.'s retail arm Reliance Retail Ventures Ltd. reported a consolidated revenue of INR 841.72 billion for the June quarter, 11% higher on year. The segment's profit for the quarter grew 28% on year to INR 32.71 billion. Read more
By Rajesh Gajra The largest steel manufacturer in the country JSW Steel Ltd. beat analyst estimates on both net profit and revenue for the June quarter. Strong domestic sales volume growth and lower raw material costs resulted in a strong growth in the operating profit in the June quarter. The bottom line tracked the operating profit growth and was also aided by a jump in other income. Read more
By Aaryan Khanna The net profit of L&T Finance Ltd. in the June quarter rose 2.3% on year to INR 7.01 billion, expanding 10.2% sequentially. While expense growth outstripped the pace of increase in the topline, the absolute rise moved largely in tandem from the year-ago period. Read more
The Securities and Exchange Board of India has proposed a review of the categorisation and rationalisation of mutual fund schemes. The regulator aims to introduce clear limits to avoid overlap of schemes with similar portfolios. Read more