Skills and talent development firm NIIT Ltd on Friday posted a 43.6 per cent decline in consolidated net profit to Rs 4.37 crore in the April-June quarter due to headwinds from a turbulent environment in the technology and BFSI sectors.
Indian markets extended losses for the sixth straight weeklongest since April 2020as US tariff hikes, weak earnings, and persistent FII outflows weighed on investor sentiment. Exporters, especially in textiles and seafood, were hit hardest amid trade tensions.
PG Electroplast shares fell 23% after Q1 net profit dropped 20% YoY and 54% QoQ to 67 crore. Despite 14% YoY revenue growth, early monsoon hit seasonal AC sales. Management stays optimistic on long-term outlook.
Info Edge (India) reported a 27% year-on-year increase in consolidated net profit for the June quarter, reaching Rs 296 crore. Revenue also saw a 17% rise to Rs 791 crore. Standalone billings grew by 11.2%, with recruitment business increasing by 9.0% and non-recruitment portfolio growing by 17.6%. However, the recruitment segment faced headwinds and a sectoral slowdown.
Anshul Saigal discusses the market's current narrow focus on companies with certain earnings growth and limited downside. He notes the insurance sector's recent momentum due to strong results and low ownership, highlighting LIC's price appreciation.
Gold October futures on MCX hit a fresh all-time high of Rs 1,02,191/10g, driven by US trade tariff uncertainty and central bank buying. Silver also remained strong. Analysts expect continued volatility but maintain a positive outlook amid global risks. Gold and silver are poised for a second straight week of gains, supported by bullish technicals and rising physical demand.
Page Industries Limited has announced a rise in net profit. The apparel manufacturer's profit increased by 21.52 percent for the June quarter. The company's net profit is now Rupees 200.79 crore. Revenue from operations also saw a boost. It increased 3 percent to Rupees 1,316.56 crore. The company's board has declared an interim dividend.
