IT major Infosys on Thursday reported a 4.7 per cent increase in net profit (year-on-year) in the July-September period (Q2 FY25) to Rs 6,506 crore from Rs 6,212 crore in the year-ago quarter.

The IT bellwether's revenue clocked a growth of over 4 per cent (quarter-on-quarter) at Rs 40,986 crore from Rs 38,994 crore in the same quarter last fiscal.

Infosys has also raised its full-year revenue growth guidance to 3.75-4.5 per cent.

The company declared an interim dividend of Rs 21 per share (a 16.7 per cent increase from last year) and fixed November 8 as the payout date. The H1 FY25 revenues grew at 2.9 per cent (year-over-year) in constant currency. Operating margin for H1 was at 21.1 per cent.

The government on Thursday announced that 1,600 metric tonnes (MT) of onions are set to arrive from Nashik in Delhi-NCR via the rail route by October 20 to stabilise the prices of the staple food in the festive season.

The Department of Consumer Affairs said that 42 covered wagons (approximately 53 trucks) with onions, procured by the National Cooperative Consumers Federation of India Ltd (NCCF) under the price stabilisation fund, was being shipped by rail by the Kanda fast train from Nashik to Delhi-NCR.

The department said that it is the first time that bulk transport of onions by rail rake has been adopted under price stabilisation intervention. Once it reaches, the stocks will be released in Delhi-NCR which will substantially increase the availability to consumers during this festive season.

"Railways as a mode of onion transportation is set to gain importance as more destinations are being added to bolster the pace of disposal. Shipments by rail rake to Lucknow and Varanasi will be scheduled in the next few days," Consumer Affairs Secretary Nidhi Khare said.

Social media giant Meta has laid off employees across multiple teams, including at WhatsApp and Instagram, as part of an apparent restructuring exercise, reports said on Thursday.

Meta did not immediately comment on how many employees were impacted in the latest round of job cuts.

In a statement to TechCrunch, the company confirmed multiple teams were hit by layoffs.

“A few teams at Meta are making changes to ensure resources are aligned with their long-term strategic goals and location strategy,” a Meta spokesperson was quoted as saying.

Leading automaker Maruti Suzuki India Limited on Thursday said it has crossed the 1-crore cumulative production milestone at its Manesar facility in Haryana.

With this, the facility became the fastest among Suzuki’s global automobile manufacturing facilities, to reach the milestone in just 18 years, the company said in a statement.

"As we reach this important landmark, I thank our customers for placing their trust in us. I also thank all our employees, business associates and government of India for their continued support,” said Hisashi Takeuchi, Managing Director and CEO, Maruti Suzuki India Limited.

Spread over 600 acres, the Manesar facility began operations in October 2006. The company manufactures Brezza, Ertiga, XL6, Ciaz, Dzire, Wagon R, S-Presso and Celerio at this facility.

India’s readymade garment (RMG) exports recorded high growth of 17.3 per cent despite global headwinds and continued inflationary pressure, the Apparel Export Promotion Council (AEPC) said on Thursday.

The RMG export growth in India comes as even major apparel exporting countries have witnessed a slowdown in the RMG export growth in recent months.

“India is uniquely placed with the advantage of low import dependence, existence of the entire ecosystem from fibre to fashion, abundant and young labour force and, therefore, scope for growth is unlimited,” said Sudhir Sekhri, Chairman, AEPC.

RMG exports for the month of September increased by 17.3 per cent as compared to September 2023.

Nestle India's net profit fell marginally to Rs 899 crore in the second quarter (Q2) this fiscal, from Rs 908 crore in the corresponding quarter of the previous year, according to the company’s quarterly financial results on Thursday.

The FMCG company reported revenue from operations at Rs 5,104 crore, compared to Rs 5,037 crore a year ago, a rise of 1.3 per cent.

The company saw continued accelerated growth by almost 38 per cent in the quarter, primarily driven by quick commerce and fuelled by brands such as Kitkat, Nescafe, Maggi, and Milkmaid. The company said that the growth was supported by premiumisation, new user acquisition, festive participation and targeted digital communications.

Nestle India Chairman and Managing Director Suresh Narayanan said that despite a challenging external environment with muted consumer demand and high commodity prices, especially for coffee and cocoa, "we remained resilient in our pursuit to deliver growth".

More than five in 10 (55 per cent) of organisations in the technology, media and telecommunications (TMT) sector have successfully implemented artificial intelligence (AI) at full scale for select use cases, according to a report on Thursday.

While 32 per cent of organisations are currently in the process of gradually scaling their AI initiatives and 13 per cent are still in the initial planning stages of adopting AI technologies, according to the report by KPMG in India launched at the ‘India Mobile Congress 2024.’

About 55 per cent of respondents anticipate that 30-50 per cent of their product or solution portfolios will be AI-led, with expectations that these AI-driven offerings will contribute 10-30 per cent of incremental revenue, the findings showed.

“The TMT industry stands at the cusp of a remarkable transformation, driven by the rise of artificial intelligence. As the global landscape rapidly embraces a digital-first future, AI is emerging as a transformative force, reshaping not just the TMT industry but all other industries,” said Akhilesh Tuteja, Partner and National Leader–TMT, KPMG in India.

Leading automaker Hyundai Motor said on Thursday it has released a revamped version of the company's entry-level mini SUV, Casper.

The new Casper builds on the iconic design of the previous model, enhancing the SUV's rugged appearance with a more sophisticated exterior and premium interior design, reports news agency.

Hyundai Motor said the model features newly designed 17-inch alloy wheels and redesigned rear lamps. It also offers improved aerodynamic efficiency by optimising the design of the radiator grille and wheels to minimise air resistance.

The company has also enhanced noise and vibration reduction in the engine compartment, resulting in better overall quietness and refinement compared to the previous model.

Fintech firm BharatPe Group announced its financial performance for FY 2023-24 on Wednesday, reporting a consolidated EBITDA loss (before share-based payment expense) of Rs 209 crore for the last financial year.

The consolidated EBITDA loss was Rs 826 crore in FY 2022-23.

According to the company, its consolidated revenue from operations grew by 39 per cent YoY (year-on-year), from Rs 1,029 crore to Rs 1,426 crore, and consolidated loss before tax was reduced by 50 per cent YoY, from Rs 941 crore to Rs 474 crore.

The company's average merchant lending portfolio from loans originating through its platform grew by 40 per cent year-on-year (FY24 vs FY23).

IT major L&T Technology Services Ltd reported a net profit of Rs 320 crore in the July-September quarter of FY 2024-25 on Wednesday, up 2 per cent in comparison to Rs 314 crore in the previous quarter.

According to the exchange filing by L&T Technology Services (LTTS), revenue during the second quarter of the financial year (FY) 2024-25 rose 4.5 per cent to Rs 2,573 crore from Rs 2,462 crore in the April-July quarter of this fiscal.

The company reported USD revenue at $307 million up 6.5 per cent YoY. The earnings before interest and taxes rose 1 per cent to Rs 388 crore, whereas the EBITDA margin contracted to 15.1 per cent.