Bharat Heavy Electricals Limited (BHEL) announced a consolidated net profit of ₹376.71 crore for the quarter ending June 30, 2026. This figure significantly exceeds the net loss of ₹455.50 crore recorded in the previous year. The company's profitability was ensured by revenue growing faster than expenses, and the energy segment returning to profitability.
Revenue from operations increased by 40.3 percent year-on-year, reaching ₹7,697.72 crore in the first quarter of 2026-27 (Q1FY27), compared to ₹5,486.91 crore. Total income grew by 39.8 percent to ₹7,911.86 crore. The share of profit from joint ventures decreased by 16.2 percent, amounting to ₹11.46 crore versus ₹13.67 crore.
Consolidated profit before tax stood at ₹507.70 crore, whereas a loss of ₹608.04 crore was recorded in the same quarter last year. Basic and diluted earnings per share reached ₹1.08, compared to an earnings per share loss of ₹1.31 the previous year.
Total expenses rose by 18.1 percent, reaching ₹7,415.62 crore from ₹6,279.78 crore. Factors contributing to the growth included an increase in the cost of materials and services by 41.5 percent, which amounted to ₹5,839.29 crore, as well as a 3 percent rise in employee benefits expenses to ₹1,506.33 crore.
Meanwhile, financial costs decreased by 22.8 percent to ₹139.88 crore, and other expenses fell by 42.1 percent to ₹390.79 crore. Depreciation and impairment charges increased by 9.9 percent, reaching ₹81.88 crore. The company reported a negative inventory adjustment of ₹542.55 crore, higher than the negative adjustment of ₹241.44 crore in the previous year's quarter.
BHEL's energy segment revenue increased by 51.8 percent year-on-year, reaching ₹5,919.50 crore compared to ₹3,898.86 crore. The segment demonstrated profit before tax and finance costs of ₹562.81 crore, unlike the loss of ₹510 crore in the quarter a year ago. Although the industrial segment's revenue grew by 12 percent to ₹1,778.22 crore, its segment result decreased by 20.9 percent to ₹242.61 crore from ₹306.84 crore.
It is important to note that the energy business accounted for approximately 76.9 percent of the total operating revenue for the reporting quarter.
BHEL reported that among trade receivables there is an overdue amount of ₹196 crore, equivalent to US$23 million, owed by client STPG, formerly known as NEC Sudan. Payment remains blocked due to the ongoing crisis in Sudan. The company classified this receivable as recoverable, noting that reserving this amount would reduce profit before tax by ₹177 crore after accounting for the existing provision for expected credit losses.
Billionbrains Garage Ventures Ltd, the parent company of the digital investment platform Groww, reported on Wednesday a significant increase in consolidated profit after tax (PAT) of 94.3% compared to the previous year. For the quarter ending June 30, PAT reached 735.04 crore rupees.
The company, headquartered in Bangalore, earned 378.35 crore rupees in PAT during the same period last year. According to the report filed with the stock exchange, operating revenue grew by 66%, amounting to 1,501.42 crore rupees in the fourth quarter of fiscal year 27, compared to 904.40 crore rupees the previous year.
However, looking at sequential dynamics, operating revenue remained almost unchanged at 1,501.42 crore rupees, whereas in the quarter from January to March of fiscal year 26 it was 1,505.37 crore rupees. Nevertheless, profit after tax increased compared to the previous quarter, when it stood at 686.36 crore rupees.
The company's total expenses rose to 555.68 crore rupees from 444.67 crore rupees a year ago. In the afternoon trading session, the company's shares traded on BSE 3.7% higher, reaching the mark of 211.4 rupees.
HCLTech reported a 20.3 percent increase in net profit in the first quarter compared to the previous year, reaching 4,624 crore rupees. Meanwhile, revenue for the reporting period increased by 13.9 percent to 34,579 crore rupees.
Both these figures surpassed Bloomberg's forecasts, which estimated profit at 4,530 crore rupees with revenue at 34,327 crore rupees. The company's growth was driven by the financial services, manufacturing, and technology and services sectors.
As the third-largest IT services provider in India, HCLTech intends to follow the example of its major competitor Tata Consultancy Services (TCS) and allocate 3,500 crore rupees to enter the artificial intelligence data center market. This capacity is planned to be scaled up to 50 MW.
CEO and Managing Director C Vijayakumar stated in a release that the combination of AI-driven demand, supply constraints, and the pursuit of digital sovereignty creates a favorable opportunity for the company to become a provider of comprehensive AI-based solutions. He noted that entering the AI data center sphere will allow the company to leverage the full potential of this opportunity amid the industry's shift from physical infrastructure to higher-value, AI-ready solutions.
In addition to increasing data center capacity, HCLTech aims to offer end-to-end services, including infrastructure, GPUs, models and applications, as well as providing managed services and outcome-based contracts for clients.
Following recent investments by HCLTech in Sarvam, an Indian sovereign language model developer, amounting to $150 million, the company will be able to offer its models to clients. Vijayakumar emphasized that the true value lies in Small Language Models (SLMs), which are deeply trained on the language, data, and workflows of a single industry or client, making them faster, more cost-effective, and accurate.
IT service providers in India are seeking various ways to increase revenue as traditional business faces pressure from the impact of AI, and low macroeconomic sentiment restricts discretionary spending, while the geopolitical situation remains unstable. Although the data center business requires significant capital expenditure and is capital-intensive for an industry that was traditionally low-capital, an alternative path is acquiring firms with niche capabilities.
Vijayakumar reported that the investments will be made through a combination of debt and equity, but he did not disclose details about a potential partner. He mentioned that TCS collaborated with TPG last year to create the HyperVault data center joint venture with $2 billion in investment. He also stated at a press conference on Monday that they are close to signing the first guaranteed capacity contract.
HCLTech's revenue from advanced AI reached $171 million as of the end of the first quarter, which is 10.6 percent higher compared to the previous quarter at constant currency. Advanced AI includes areas such as industry-specific AI solutions, AI engineering, agentic AI, physical AI, AI factory, and the company's proprietary intellectual property (IP). Classical AI, machine learning, and Robotic Process Automation (RPA) technologies are excluded.
Biswajit Maity, Senior Lead Analyst at Gartner, noted that the quality and scale of recent deals enhance revenue predictability and strengthen confidence in the company's ability to translate strategic investments into sustainable long-term growth.
As of June 30, the company's workforce decreased by 3,292 people, totaling 223,889 employees. The employee turnover rate was 12.7 percent, and new hiring dropped to 1,056 people from 1,984 in the same period last year.
HR Director Ramachandran Sundararajan stated that new hiring will follow last year's trends, with a preference given to elite, niche engineers who can join the Field Deployment Engineers (FDE) cohort over the next three years.
LTM, formerly known as LTI Mindtree, has released its report on the first quarter of the financial year 2027. During this period, the company's net profit increased by 17%, reaching ₹1,468 crore, while revenue grew by 18% to ₹11,608 crore.
In dollar terms, the company's revenue for the period ending June 30 was $1.22 billion, demonstrating a 6.1% growth. Furthermore, growth in constant currency reached 6.4%. In a statement, the company emphasized that the first quarter results reflect progress in implementing its artificial intelligence (AI) focused strategy.
Venu Lambo, CEO and Managing Director, noted that the company's transition to an AI focus is yielding tangible results for clients, which is evident in the quality and scale of contracts being secured. Thanks to a strong order book and a healthy pipeline across various industry segments, management expressed confidence in continued growth momentum throughout the year.
Almost all verticals, except for financial services, showed positive momentum. The consumer, technology, and manufacturing verticals grew by 18.2%, 10%, and 5.3%, respectively. Financial services, conversely, recorded a negative growth of 2.5% in constant currency. Lambo added that the company's revenue from AI in the creative, business, and industrial sectors amounted to approximately $150 million based on the quarterly run rate.
The EBITDA margin also improved by 120 basis points, reaching 15.5%. The employee attrition rate remained unchanged at 13.3%, and the total number of employees slightly decreased by 64 people to 87,886. It was noted that IT companies had slowed down hiring for some time due to the unstable macroeconomic environment; however, TCS began the new fiscal year with a positive outlook on recruitment.
