Havells India Ltd, a manufacturer of consumer electrical goods, reported on Friday a decrease in consolidated net profit by 16.64 percent, amounting to INR 289.71 crore for the first quarter ending June 30, 2026. This decline was attributed to increased costs for raw materials and components due to the war in the Middle East, as well as higher advertising and promotion expenses.
According to the report, the company achieved a consolidated net profit of INR 347.53 crore in the same quarter of the previous fiscal year. In the first quarter of the current period, operating revenue reached INR 6,518.19 crore compared to INR 5,455.35 crore a year earlier.
Total expenses in the quarter under review rose to INR 6,180.06 crore, exceeding the figure of INR 5,054.78 crore for the corresponding period last year. The cost of consumed raw materials and components sharply increased to INR 4,023.54 crore in the first quarter, whereas this amount was INR 3,012.26 crore in the same period of the previous fiscal year.
Advertising and sales promotion expenses amounted to INR 286.51 crore in the first quarter, significantly higher than the INR 142.9 crore recorded a year ago. In its investor presentation, the company noted steady revenue growth in the first quarter as demand remained stable despite inflationary pressures and uncertainty related to the war in the Middle East. Havells stated that to offset the rise in raw material prices, it implemented calibrated and phased price increases across all product categories.
The company also mentioned that despite a good summer, the delay in the start of the season limited the full benefit from cooling products. Furthermore, the doubling of advertising and promotion expenses led to a reduction in profitability, even with strong revenue growth.
The public sector lender Reserve Bank of India reported on Friday a 13 percent increase in net profit, reaching 1324 crore rupees for the June quarter.
For the reporting period, the bank's total revenue increased to 10,678 crore rupees. This figure is higher than 10,360 crore rupees for the same period in the 2026 fiscal year. The growth in total revenue was driven by an increase in interest income.
The bank's net profit in the current quarter amounted to 1324 crore rupees, compared to 1169 crore rupees in the same quarter of the previous fiscal year. However, operating profit decreased to 2,186 crore rupees from 2,304 crore rupees the year before.
The bank demonstrated an improvement in asset quality. Gross Non-Performing Assets (NPA) reduced to 2.60 percent of gross loans as of the end of June, down from 3.13 percent the previous year. Net NPAs remained stable at 0.49 percent as of June 30, 2026.
As a result of this improvement, provisions for bad loans significantly decreased—they fell from 468 crore rupees at the end of June 2025 to 346 crore rupees.
Furthermore, the bank's capital adequacy ratio improved to 18.28 percent, showing an increase compared to 17.66 percent recorded at the end of the first quarter of the 2026 fiscal year.
Tech Mahindra demonstrated growth in its first quarter of the fiscal year 2026-27. The company's consolidated net profit increased by 31.7% compared to the same period last year, reaching ₹1,486.3 crore. This growth occurred amid an increase in revenue and operating profit.
Operating revenue grew by 17.7% compared to the previous year, amounting to ₹15,711.9 crore, up from ₹13,351.2 crore a year earlier. On a sequential basis, net profit grew by 9.6% compared to the March quarter, and revenue increased by 4.2% to ₹15,076.1 crore.
Profit attributable to equity shareholders was ₹1,465.1 crore, which is 28.4% higher than the previous year. Profit attributable to non-controlling interests was ₹21.2 crore.
Earnings Before Interest and Taxes (EBIT) increased by 53.3% year-on-year, reaching ₹2,264 crore. Meanwhile, the EBIT margin expanded by approximately 330 basis points to 14.4%. Sequentially, EBIT grew by 8.6%, and the margin improved by approximately 60 basis points.
Total expenses rose by 13.4% to ₹13,559.3 crore from ₹11,951.9 crore. Employee benefits expenses increased by 5% to ₹7,876.6 crore, while subcontracting expenses grew by 36.6% to ₹1,790.9 crore. Other expenses increased by 26.7% to ₹3,301.9 crore.
Financial costs rose by 43.1% to ₹111.3 crore, and depreciation and amortization expenses grew by 4.5% to ₹478.6 crore. Earnings before tax increased by 26.2% to ₹2,041.9 crore. Basic earnings per share reached ₹16.53, and diluted EPS was ₹16.50.
The Information Technology segment revenue increased by 17.6% year-on-year, reaching ₹13,245 crore, and its segment result grew by 39.9% to ₹2,903 crore. Business Process Services revenue increased by 18.2% to ₹2,466.9 crore, and its segment result grew by 30.4% to ₹437.6 crore.
The company noted that revenue in dollar terms grew by 6.1% year-on-year and 2.2% sequentially, totaling $1.66 billion. In constant currency terms, revenue increased by 6.6% year-on-year and 2.6% sequentially.
The strongest geographical growth was recorded in Europe, where revenue grew by 12.1% year-on-year. Revenue from America increased by 4.8%, and business from the rest of the world showed growth of 2.5%.
Among industry verticals, the manufacturing sector (17.2%), banking, financial services and insurance (8.1%), and communications (1.3%) demonstrated revenue growth.
The volume of new deals grew by 33.3% year-on-year, reaching $1.08 billion. This marks the third consecutive quarter where the volume of won deals exceeded the one billion dollar mark. The number of clients generating annual revenue of at least $50 million increased from 26 to 33. Clients with annual revenue of at least $10 million grew from 108 to 115.
The total number of employees was 146,760, a decrease of 863 people sequentially. The IT specialist staff decreased by 688 people to 74,689. The employee attrition rate over the last 12 months improved to 11.8% from 12.6% the previous year.
Free cash flow increased by 94% year-on-year, reaching $167 million, equivalent to 108% of after-tax profit. The days sales outstanding metric improved to 84 days from 95 days.
On May 27, the company acquired an 85% stake in the Canadian company Alluri Technologies, also known as Avant, for ₹187.5 crore. The company plans to acquire the remaining 15% in three years, subject to meeting certain milestones.
