Early Signs of Revival
While analysts were cautious about strong recovery in Q3 FY25 after subdued Q2 earnings, some improvements occurred in pockets. Reliance Industries reported a 7% year-on-year increase in consolidated net profit to Rs 18,540 crore for Q3. The conglomerate’s operational revenue grew by 6.7% YoY, also exceeding the forecast.
In IT services, Infosys reported an 11.4% YoY increase in its net profit, amounting to Rs 6,806, beating the Bloomberg estimate of Rs 6,773 crore. Revenue was up 7.6% YoY.
India’s largest private lender, HDFC Bank, reported a 2.2% YoY growth in net profit at Rs 16,736 crore. Profit in Q3 was marginally lower than in Q2. Other private sector banks that announced their earnings reported a rise in credit costs due to higher provisions, mainly for unsecured retail loans.
All Work and No Play?
L&T chairman SN Subrahmanyan (in pic) has trumped NR Narayana Murthy. While the Infosys boss had proposed a 70-hour work week, Subrahmanyan suggested employees put in 90 hours every week. Working is better than staring at the wife, he said. A flurry of memes followed: Amul, Durex, Zomato among others had their say with eyes wide shut.
Keeping Govt Staff Happy
Nearly 50 lakh central government employees and 65 lakh pensioners, including defence retirees, are expected to benefit from the 8th Pay Commission, the formation of which was approved by the Union Cabinet in January. The government will soon appoint a chairperson and two members to lead the commission.
Short-Seller Shuts Down
US-based short-seller Hindenburg Research, which made headlines in 2023 after allegations of accounting fraud against the Adani group, announced that it would cease operations. In a statement, its founder Nate Anderson said, “The plan has been to wind up after we finished the pipeline of ideas we were working on.”
Within days of the announcement, Anderson came under scrutiny over alleged connections with hedge funds to prepare reports targeting companies, a Canadian portal said, citing documents filed before an Ontario court.
Smart Mobility in Focus
A line-up of the most-awaited models of auto companies was on display at the 2025 Bharat Mobility Global Expo in Delhi. This year, the focus of the premier automotive show was on EVs—from Maruti Suzuki’s and Hyundai’s EVs to Tata Motor’s Harrier EV. While Maruti Suzuki’s EV attracted the most attention, the Harrier, Bandipur edition, was displayed as a tribute to Karnataka’s Bandipur National Park. Vietnamese EV major and Tesla’s global rival VinFast showcased its first EVs for the Indian market. The company plans to make India a global export hub with the first phase of its Thoothukudi facility expected to be operational later this year.
