HCLTech on Monday reported an 11.2 per cent year-on-year decline in net profit to ₹4,076 crore for the third quarter of FY26, compared with ₹4,591 crore in the same period last year. On a sequential basis, profit fell 3.75 per cent, reflecting margin pressures despite strong revenue growth. Revenue for the quarter rose 13.32 per cent year-on-year in reported terms to ₹33,872 crore. Sequentially, revenue increased 6.04 per cent, driven by robust deal wins and growth across service lines. The IT major’s board approved an interim dividend of ₹12 per share, marking its 92nd consecutive quarter of dividend payout, underlining…
Author: Adarsh Kumar
Prime Minister Narendra Modi on Monday said India and Germany have agreed to elevate their economic relationship to a new level, with deeper cooperation across defence, space and critical technologies. Addressing the India–Germany CEOs Forum alongside German Chancellor Friedrich Merz, PM Modi said Berlin views New Delhi as a trusted and central partner in its global diversification strategy. Modi noted that Chancellor Merz chose India as his first destination in Asia, calling it a strong signal of Germany’s confidence in India. “This reflects India’s growing importance in Germany’s diversification plans and the trust Germany places in India,” the Prime Minister…
Warehousing and fulfilment partner Edgistify has raised $1.4 million in a pre-Series A funding round co-led by NB Ventures and investor Rajesh Ranavat, the company said in a statement. The round also saw participation from PhysicsWallah co-founder Prateek Maheshwari, Vivek Gaur, Vikram Tandon, and other angel investors. The Mumbai-based startup had earlier raised $1.63 million in a seed funding round from Sterling Auxiliaries and other investors. Edgistify said the fresh capital will be deployed to onboard more high growth brands, strengthen AI-led supply chain orchestration through its proprietary platform EdgeOS, and expand fulfilment capabilities across Tier-2 and Tier-3 markets. The…
Kotak Mahindra Bank on Monday announced the appointment of former Bajaj Finance managing director Anup Kumar Saha to oversee its consumer banking vertical, strengthening the private lender’s senior leadership team. Saha has been appointed as a whole time director, subject to regulatory approvals, and will join Kotak Mahindra Bank’s senior management with immediate effect, the bank said in an official statement. A seasoned finance professional, Saha brings over two decades of experience across retail banking and financial services. Prior to joining Kotak, he spent more than eight years at Bajaj Finance, where he played a key role in driving business…
Building materials unicorn Infra.Market, which has confidentially filed draft papers for a ₹5,000 crore initial public offering (IPO), reported another year of strong revenue growth in FY25. However, rising costs and lower non-operating income weighed on profitability during the period. According to the company’s consolidated financial statements filed with the Registrar of Companies (RoC), Infra.Market’s gross revenue rose 27% year-on-year to ₹18,472 crore in FY25, compared with ₹14,530 crore in FY24. Including non-operating income, total income stood at ₹18,556 crore in the fiscal year ended March 2025. Business Mix Remains Construction-Led Infra.Market operates across three core verticals structural products, finishing…
B2B manufacturing and construction marketplace Zetwerk reported a decline in scale in the financial year ended March 2025, even as the company significantly narrowed its losses a key milestone as it moves closer to a potential public listing. According to its consolidated financial statements sourced from the Registrar of Companies (RoC), Zetwerk’s gross revenue declined 11% year-on-year to ₹12,798 crore in FY25, compared with ₹14,443 crore in FY24. Including non-operating income, the company’s total income stood at ₹12,981 crore, down from ₹14,612 crore a year earlier. Segment-Wise Performance Zetwerk derives revenue from trading, manufacturing services, and construction and project contracts.…
Electric vehicle maker Ampere Vehicles showed early signs of recovery in FY25 as revenue stabilised and losses narrowed sharply, following a steep decline in the previous fiscal. Ampere’s operating revenue rose 8% year-on-year to ₹659 crore in FY25 from ₹612 crore in FY24, according to financial statements filed with the Registrar of Companies (RoC). Including other income of ₹16 crore, the company’s total income stood at ₹675 crore for the year, compared with ₹641 crore in FY24. Ampere, a brand under Greaves Electric Mobility, derives its revenue entirely from the sale of electric scooters and three-wheeled vehicles. On the cost…
Mumbai-headquartered software testing platform BrowserStack has launched a $125 million employee stock ownership plan (ESOP) buyback programme, providing liquidity to its employees and early investors. Under the latest buyback, nearly 500 current and former employees will be eligible to sell their shares back to the company. Around half of the total buyback amount has been earmarked for employees, while the remaining portion will be allocated to early backers, including Accel. With this round, BrowserStack’s total capital returned to shareholders across three buyback programmes will rise to approximately $275 million. The company had previously executed ESOP buybacks worth $50 million in…
India is aiming to manufacture advanced 3 nanometre (nm) semiconductor chips by 2032 as part of its long-term strategy to become a globally competitive player in the semiconductor ecosystem, Union Minister for Electronics and Information Technology Ashwini Vaishnaw said. In an email interview, Vaishnaw said the global semiconductor industry is witnessing rapid expansion, driven by rising demand from artificial intelligence (AI), electric vehicles, consumer electronics and smartphones. Against this backdrop, India has made a “strong start” by approving 10 semiconductor manufacturing units across the country. According to the minister, four semiconductor plants CG Semi, Kaynes Technology, Micron Technology, and Tata…
India’s upcoming Union Budget for FY27 is likely to assume a nominal GDP growth rate of around 10%, up from an estimated 8% in the current fiscal year, according to officials aware of early budget discussions. The higher projection reflects the government’s confidence in economic resilience, even as inflation is expected to inch up due to base effects. Nominal GDP growth, which combines real economic expansion and inflation, is a critical parameter in budget planning. It directly influences tax revenue estimates, fiscal deficit calculations, and overall spending capacity. A stronger nominal growth assumption allows the government to mobilise higher resources…