Latest news with #Pune-headquartered
Time of India
6 days ago
- Business
- Time of India
EFC (I) posts net profit of ₹46.67 crore in Q1 FY26
NEW DELHI: Pune-headquartered EFC (I) has reported a growth of 195.94 per cent in its net consolidated profit during the quarter ended June 30, 2025. Its profit after tax (PAT) stood at ₹46.67 crore in Q1 FY26 as against ₹15.77 crore it registered in the corresponding quarter of the previous fiscal, the company said in a BSE filing. The company's net consolidated total income stood at ₹223.25 crore in Q1 FY26, a growth of 112.05 per cent from ₹105.28 crore it recorded in the similar quarter last year. In leasing, the company secured additional space of 1,45,000 sq ft in Q1 FY26, adding capacity of 3,000 seats during the quarter. Ek Design Industries , the furniture vertical of the company, signed its first international order in Saudi Arabia for a seven-star hotel awarded by Nuvara Global Turnkey Projects Contracting LLC. The company also secured ₹1,000 million in fit-out contracts from a leading MNC. EFC (I) acquired Quantum Towers in Pune , a 122,000 sq ft facility in Q1 FY26.
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Business Standard
16-07-2025
- Business
- Business Standard
Tech Mahindra Q1 profit up 34% at ₹1,140 crore, revenue rises 2.7%
Revenue for the quarter increased 2.7 per cent to ₹13,351 crore, helped by communications and banking financial services and insurance (BFSI) business Avik Das Bengaluru Information technology (IT) services and consultancy firm Tech Mahindra's on Wednesday reported a 34 per cent rise in its first quarter profit. The Pune-headquartered firm's profit increased to ₹1,140 crore, compared to ₹851.5 crore a year earlier. The firm's profit fell 2.2 per cent from the last quarter. Revenue for the quarter increased 2.7 per cent to ₹13,351 crore, helped by communications and banking financial services and insurance (BFSI) business. Both the verticals, which contributed 33.8 per cent and 16.4 per cent to the topline, were up 2.5 per cent and 4.7 per cent, respectively. 'The market is very volatile and the macro environment continues to remain uncertain. The sentiment is not conducive for discretionary investments,' Mohit Joshi, chief executive officer of the firm, said at a news conference on Wednesday. While the firm's biggest business, telecommunications, remains stable and on track for growth, the company continues to see slowdown in the auto business and hi-tech. Manufacturing, which includes auto, declined 4 per cent while technology, media and entertainment business was down 3.3 per cent. 'It is too early to say the tide has turned for significant growth,' cautioned Joshi. 'Hi-tech has been volatile and clients cut spending quickly if they fear a recession. During the quarter, the segment was also impacted due to a semiconductor company in the US. We expect a better second half for this business.' From a geographical perspective, the growth in America dropped about 6 per cent, only to be offset by Europe which was up 11.7 per cent. Trade wars and tariff threats have dampened business sentiment with manufacturing, retail, and consumer packaged goods already bearing the brunt. 'The macro is still hazy in certain sectors due to tariffs,' he added. Operating margins climbed up to 11.1 per cent from 8.5 per cent a year ago, helped by operational efficiencies. 'We have delivered seven consecutive quarters of margin expansion - a clear reflection of the discipline and focus across our organisation. Even in an uncertain environment, our Project Fortius programme continues to generate meaningful results and drive operational improvements,' chief financial officer Rohit Anand said in a statement. IT headcount stood at 79,987 as of June 30, down by 430 in the corresponding period of the last year. Attrition was up to 12.6 per cent from 10.1 per cent. Hiring for the year will depend on the demand environment.
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Business Standard
16-07-2025
- Business
- Business Standard
Tech Mahindra Q1 results: Profit up 34% to ₹1,141 cr, revenue edges up
IT services firm Tech Mahindra on Wednesday posted a 33.9 per cent rise in consolidated net profit for the April-June quarter to Rs 1,140.6 crore. The Pune-headquartered firm had logged a net profit (attributable to owners of the company) of Rs 851.5 crore in the year-ago period, according to a regulatory filing. Revenue from operations for the first quarter of FY26 came in 2.65 per cent higher at Rs 13,351.2 crore, as against Rs 13,005.5 crore in the year-ago period. Seen sequentially, net profit was 2.2 per cent lower, while revenues saw a marginal decline of 0.2 per cent. "Our performance is steadily strengthening, reflecting disciplined execution and a focused strategy. Deal wins have increased by 44 per cent on a last twelve months (LTM) basis, supported by broad-based momentum across verticals and geographies," Mohit Joshi, CEO and Managing Director of Tech Mahindra, said. The company's total headcount stood at 148,517 as of June 30, 2025, an increase of 897 employees year-on-year. The LTM (last twelve months) IT services attrition was at 12.6 per cent. Shares of Tech Mahindra settled 1.94 per cent higher at Rs 1,609 apiece on the BSE on Wednesday. The financial results were announced after the closing of market hours.
Time of India
15-07-2025
- Business
- Time of India
Bank of Maharashtra Q1 profit rises 23% YoY to Rs 1,593 crore
Bank of Maharashtra on Tuesday reported a 23% year-on-year rise in net profit at Rs 1,593 crore for the first quarter of the fiscal, helped by lower provisions and steady business expansion. Its asset quality remained stable. Its net profit was Rs 1,293 crore in the year ago period. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Buy Lifetime Office 365 Download Undo The bank's net interest margin (NIM) for the quarter stood at 3.95% as compared with 4.01% in the preceding quarter and 3.97% in the year ago period. "The NIM contracted due to the reduction in lending rates. We are trying to protect the NIM by managing the liability side of our business," managing director Nidhu Saxena said after announcing the quarterly numbers. The Pune-headquartered lender's operating profit rose 12% year-on-year at Rs 2,570 crore. Total income in the quarter under review stood at Rs 7,879 crore against Rs 6,769 crore in the year-ago period. Net interest income rose 17.6% at Rs 3,292 crore. Live Events It has made lower provisions and contingencies at Rs 86742 crore during the quarter as compared with Rs 95047 crore. Provisions to cover bad loans however stood higher at Rs 71903 crore against Rs 58639 crore. The bank's gross non-performing assets ratio remained steady at 1.74% at the end of June, little changed from three months ago. The ratio however improved from 1.85% a year-ago, despite the bank recording higher slippages of Rs 727 crore against Rs 592 crore over the same period, largely due to stress in agricultural loan. "Recovery and upgradation helped to reduce the NPA ratio," Saxena said. BoM's advances grew 15.34% year-on-year to Rs 2.41 lakh crore, even as the banking sector's average credit growth remained in single digit in the first three months of the fiscal. The bank is projecting a 17% expansion in advances for FY26. The bank is planning to raise Rs 10,000 crore in infrastructure bonds this fiscal. The state-owned lender also has board approval to raise Rs 5000 crore in equity and Rs 2,500 crore in debt. "We are engaging foreign and local investors. But the capital raising plan has not been firmed up yet," Saxena said.
Time of India
04-07-2025
- Business
- Time of India
Bank of Maharashtra logs 15 pc loan growth in Q1
New Delhi: State-owned Bank of Maharashtra (BoM) on Friday said it has registered a credit growth of 15.36 per cent to Rs 2.41 lakh crore in the April-June quarter. The outstanding credit was Rs 2.09 lakh crore at the end of the first quarter of previous fiscal, BoM said in a regulatory filing. The Pune-headquartered lender reported a 14.08 per cent increase in total deposits to Rs 3.09 lakh crore in the reporting quarter against Rs 2.67 lakh crore at the end of the first quarter of the previous financial year. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 15 Most Beautiful Female Athletes in the World Click Here Undo As a result, the total business (total credit and deposits) of the bank registered an increase of 14.64 per cent to Rs 5.46 lakh crore compared with Rs 4.67 lakh crore at the end of June 30, 2024. During the latest quarter, it said, the Current Accounts and Savings Accounts (CASA) ratio rose to 50.07 per cent of the total deposits against 47.86 per cent in the same period of the preceding financial year. Live Events The credit-deposit ratio increased to 79.04 per cent in the first quarter compared with 78.17 per cent in the year-ago period.
