Overview
- LTIMindtree’s net profit fell 10.5% to Rs 970.6 crore after booking a Rs 590 crore labour-code related charge presented as an exceptional item, even as revenue rose 11.6%.
- Dr Reddy’s Laboratories reported a 14% decline in net profit to Rs 1,209.8 crore, citing a Rs 117 crore one-time employee-benefit provision under the Labour Codes.
- Persistent Systems’ net profit rose 17.8% year-on-year to Rs 439.4 crore, with operating margins noting a 2.3% one-off impact from the New Labour Codes.
- Dalmia Cement slipped to a standalone net loss of Rs 16 crore, with Rs 26 crore in exceptional expenses tied to regulatory-driven, non-recurring employee benefit costs.
- Elsewhere, IndiaMART’s profit jumped 55.6% year-on-year on higher other income, Tata Communications’ profit rose 55% with revenue up 6.7%, and Bank of India’s net profit increased about 7% with non-interest income up 30% and gross NPA improving to 2.26%.