Infosys, TCS, L&T Technology Services in spotlight

Infosys' consolidated net profit grew 2.3% to Rs 5,195 crore on 6% increase in revenue to Rs 27,896 crore in Q1 June 2021 over Q4 March 2021. On a year-on-year basis, net profit rose 22.7% and revenue increased 17.9% in Q1 June 2021. The Q1 result was declared after trading hours yesterday, 14 July 2021.

The IT major's operating profit stood at Rs 6,603 crore in Q1 June 2021, rising 2.5% quarter-on-quarter (Q-o-Q) and increasing 23.1% year-on-year (Y-o-Y). Operating margin for the quarter was robust at 23.7%, an increase of 1% YoY and decline of 0.8% QoQ.

TCS on Wednesday announced plans to expand its operations in Arizona, investing more than $300 million by 2026 and hiring more than 220 employees by 2023. TCS will also continue to expand the reach of its STEM and Computer Science education programs in Arizona by increasing teacher training and online content for students over the next two years. The IT major said the investment plan is to meet the digital transformation needs of its customers.

L&T Technology Services' net income rose 11.1% to Rs 216.20 crore on 5.4% rise in revenue to Rs 1518.40 crore in Q1 June 2021 over Q4 March 2021.

Marico has entered into Share Subscription Agreement and Shareholders agreement with Apcos Naturals Private Limited, the company that owns the brand 'Just Herbs'('Apcos Naturals') and a Share Purchase Agreement with its existing promoters and shareholders, to make a strategic investment in Apcos Naturals by acquiring / subscribing 60 % of the total paid-up share capital in the form of equity shares and compulsorily convertible preference shares (CCPS) of Apcos Naturals.

SeQuent Scientific announced the EUGMP approval of its tablets dosage manufacturing line in Turkey.

Avantel informed that the company has received an order for an amount $19,80,000 (USD. Nineteen Lakh Eighty Thousand only) from Lockheed Martin Corporation for supply of Satcom Equipment.

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