LTIMindtree reported 1.5% decrease in consolidated net profit at Rs 1,135 crore for the June quarter of FY25 as against Rs 1,152 crore in the year-ago period. However, the net profit rose 3% on sequential basis.
The IT firm's revenue from operations rose to Rs 9,142 crore in Q1FY25 from Rs 8,702 crore in Q1FY24, an increase of 5% on an annual basis.
Asian Paints reported its consolidated Q1 FY25 net profit fell nearly 25 % on-year to Rs 1,170 crore, hit by a challenging demand environment. The fall was bigger than analyst estimates. India's largest paints maker's April-June revenue from operations too fell short of estimates, declining more than 2 percent on-year to Rs 8,970 crore.
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Kotak Mahindra Bank is evaluating if it was misled by Kingdon Capital over its links to Hindenburg Research which, in a scathing report in January last year accused the Adani group of corporate governance lapses and market manipulation, said people privy to the development.
According to the persons cited above, the bank which has received a show-cause notice from the markets regulator Securities and Exchanges board of India (Sebi) for facilitating a Foreign Portfolio Investor (FPI) licence for Kingdon Capital, is also examining if the declarations made by Kingdon were misleading. Kingdon has claimed that all its trades in Adani group entities were "principal trades".
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