IT major Infosys announced that its net profit fell 6.8% to Rs 3802 crore on 1.23% increase in revenue from operations to Rs 21803 crore in Q1 June 2019 over Q4 March 2019. Operating profit fell 3.2% to Rs 4471 crore in Q1 June 2019 over Q4 March 2019. Operating margin was 20.5% in Q1 June 2019. The result was declared after market hours on Friday, 12 July 2019. The company has increased FY20 revenue growth guidance to 8.5-10% in constant currency, while maintaining FY20 operating margin guidance in range of 21-23%. We had a strong start to FY20 with constant currency growth accelerating to 12.4% on year over year basis and digital revenue growth of 41.9%. This was achieved through our consistent client focus and investments which have strengthened our client relationships, said Salil Parekh, CEO and MD. Consequently, we are raising our revenue guidance for the year from 7.5%-9.5% to 8.5%-10%. InterGlobe Aviation after market hours on Friday, 12 July 2019 clarified to a news item titled IndiGo shareholder pact to be checked by Govt for violations. The company said that it has not received any official communication in relation to the matters referred to in the news report. Adani Ports and Special Economic Zone after market hours on Friday, 12 July 2019, announced that its board of directors has approved issuance of USD denominated foreign currency bonds (Bonds) which may be issued in one or more tranches overseas. The proceeds of the Bonds will be used for the refinancing of existing notes due in 2020 and other permissible end uses. The total amount raised will not exceed $700 million. The Bonds will be issued on a private placement basis or otherwise, to eligible persons, entities, bodies corporate, companies, banks, financial institutions and any other categories of eligible investors permitted to invest in the Bonds under applicable laws. Avenue Supermarts' consolidated net profit rose 31.87% to Rs 323.09 crore on 26.94% rise in total income to Rs 5825.51 crore in Q1 June 2019 over Q1 June 2018. The result was announced on Saturday, 13 July 2019. BHEL announced on Sunday, 14 July 2019, that it has won an order for setting up a 25 MW Floating Solar Photovoltaic (SPV) Power Plant on Engineering, Procurement and Construction (EPC) basis, at Simhadri in Andhra Pradesh. Valued at over Rs 100 crore, the order has been placed on Bhel by NTPC. Dewan Housing Finance Corporation (DHFL) reported a net loss of Rs 2223 crore in Q4 March 2019 compared to a net profit of Rs 134 crore in Q4 March 2018. Total income rose 7.41% to Rs 3057 crore in Q4 March 2019 over Q4 March 2018. The result was announced on Saturday, 13 July 2019. Allahabad Bank announced on Saturday, 13 July 2019, that on the basis of Forensic Audit Investigation findings and CBI filing FIR, on suo moto basis, against the company and its directors, alleging diversion of funds from banking system by the bank's borrower namely Bhushan Power and Steel (BPSL), a fraud of approximately Rs 1774.82 core has been reported by the bank to the Reserve Bank of India. The bank has already made provisions amounting to approximately Rs 900.20 crore against the exposure of the Bank in BPSL. Powered by Capital Market - Live News |