Tag: betterresult

Shares of L&T Technology Services (LTTS) zoomed 19 percent to a record high of Rs 3,471.95 on the BSE in intra-day trade on Thursday after the company reported better-than-expected June quarter (Q1FY22) results. The company's net profit surged 84 percent year-on-year in the June quarter as its profit came in at ₹ 117.3 crores in the corresponding period of the previous fiscal year. The technology services company's revenue from operations during the quarter stood at ₹ 1,518 crores, compared to ₹ 1,294.7 crores in the year-ago period, marking a growth of 17 percent annually, according to a regulatory filing by the firm to the stock exchanges. The company said that it could expand the margins because of levers like higher digitalization, he said adding that the quantum of work done offshore has also increased to 58 percent of the billing as against 50 percent before the pandemic. Read more

Shares of Tata Steel gained higher by 8.5 percent to Rs 1,191, their fresh record high on the BSE, in intra-day trade on Friday after the company reported its best-ever performance across metrics. The company on May 5 posted a consolidated profit of Rs 6,644.1 crore for the quarter ended March 2021 compared to a loss of Rs 1,481.3 crore in the year-ago quarter. Consolidated revenue from operations stood at Rs 49,977.4 crore, up 38.8 percent over Rs 36,009.4 crore in the corresponding quarter of the previous fiscal. Tata Steel’s consolidated EBITDA for Q4FY21 came in at Rs 14,184 crore, up 48 percent quarter-on-quarter (QoQ) and 196 percent YoY. Tata Steel's standalone operations reported EBITDA/tonne of Rs 27,775/tonne while the European operations reported. With the past two days' gain, Tata Steel has now rallied 97 percent since the Finance minister presented the Union Budget 2021-22 on February 1. Read more