GTPL Hathway s net profit for Q3FY24 declined 37% to Rs 24 crore. Operating profit remained flat at Rs 131 crore. Total revenue rose 22% to Rs 861 crore due to an increase in active cable TV subscribers. Total expenditure went up 27% to Rs 730 crore, mainly due to a rise in pay channel costs. Cable subscription and activation revenues surged, while broadband revenue expanded by 9%. GTPL Hathway plans to invest Rs 450-500 crore annually in capex for cable TV and broadband businesses.
TCS numbers better than estimates, order book lower than expected. North American market and BFSI facing challenges. Commentary on client decision making, budgeting cycle, and pricing critical. Headcount reduced, campus hiring still a focus. AI and AI.cloud-led demand driving sector growth. Resilient stock pick in midcap IT space: ER&D and platform product companies with growth in AI and mobility platforms.
Investors should remain prepared for a mixed bag. While some pockets may disappoint, it is important for investors to stay focused on long-term prospects. And keep some powder dry
Infosys Q3 results: The firm posted a consolidated net profit of ₹6,106 crore, down over 7 percent from ₹6,586 crore in the year-ago period. It has revised FY24 revenue guidance to 1.5-2.0 percent as against 1-2.5 percent earlier.