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Booked INFY PUT in the morning. Day started with +ve 4K then EOD at +ve 12k.

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Tejas Networks: The telecom and networking products maker narrowed its consolidated loss for the March FY23 quarter to Rs 11.5 crore, from a loss of Rs 49.6 crore in same period last year as consolidated revenue surged 13.6 percent YoY to Rs 299.3 crore and EBITDA loss dropped to Rs 8.19 crore from Rs 88.11 crore in the same period.

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HIndustan Zinc on April 21 reported a consolidated net profit of Rs 2,583 crore for the March quarter of FY23, down 12 percent from Rs 2,928 crore in the year-ago period.

Total sales for the company came in at Rs 8,509 crore, down 3 percent from Rs 8,797 crore in the corresponding quarter of the previous year. Zinc sales dropped the most at 9 percent, while other metals saw a rise in sales.

For the quarter, the company reported its best-ever production of mined metal at 301 kilotonnes (kt) and refined metal at 269 kt.

“We are progressing well on our strategic development projects directed towards capacity expansion, synergetic growth, and value integration,” CEO Arun Misra said.

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Software major Cyient Ltd posted a net profit of Rs 163 crore in the fourth quarter of fiscal year 2022-23, which is 5.5 percent higher as against the profit of Rs 154.2 crore clocked in the year-ago period, as per the financial results released by the company on April 20.

The net profit is also 4.5 percent higher sequentially, as compared to Rs 156 crore recorded in the December 2022 quarter.

The revenue from operations in Q4 climbed by a massive 30 percent to Rs 1,751.4 crore. In the year-ago period, it stood at Rs 1,230.6 crore.

The company also informed the stock exchanges that its board has recommended a final dividend of Rs 16 per equity share, on par value of Rs 5 a share, for FY23.

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IT major HCL Technologies on April 20 reported consolidated net profit for the quarter ended March 2023 at Rs 3,981 crore, up 10.61 percent over Rs 3,599 crore a year back.

Its revenue from operations for the quarter stood at Rs 26,606 crore, clocking a growth of 17.74 percent from Rs 22,597 crore, the company said in an exchange filing.

The profit figure beat estimates but revenue lagged the projections.

According to a poll of brokerages, HCLTech was expected to report a consolidated revenue of Rs 26,801 crore, up 18.6 percent on-year, while consolidated profit after tax (PAT) was projected to rise by 8.5 percent to Rs 3,898 crore. On a constant currency (CC) basis, the company was expected to report a quarter-on-quarter (QoQ) decline in the range of 1-2 percent.

Constant currency revenue was down 1.2 percent QoQ and up 10.5 percent year on year (YoY). US dollar revenue came in at $3,235 million, up 8.1 percent YoY. EBIT of the company was at Rs 4836 crore, which was 18 percent of revenue.

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Prestige Estates Projects: Subsidiary Prestige Exora Business Parks acquired 51 percent shares in Dashanya Tech Parkz. The acquisition cost for a 51 percent stake is Rs 66.07 crore.

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