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ENIL incurred an expense of ₹6.3 crore towards its strategic initiative in digital platforms. Without that, its Ebitda for the quarter would have been ₹23 crore and net profit ₹2.4 crore.

Wood, who was recently in New Delhi, said the message from those working for the Prime Minister Narendra Modi-led government is that the administration remains committed to its reform agenda despite the inevitable setbacks triggered by Covid.

RIL became the first-ever company in India to report over $100 billion in annual revenue. The company reported a record annual consolidated revenue at Rs 7,92,756 crore ($104.6 billion), which rose 47 per cent year-on-year (YoY).

Revenues for the quarter came in at Rs 20,901 crore against an ET NOW poll projection of Rs 20,715 crore.

Revenue from operation of the company stood at Rs 50,834 crore, up 23.1 per cent from Rs 41,296 crore in the same quarter last year. Ebitda from operation was up 16.3 per cent at Rs 3,584 crore. Ebitda margin came in at 7.1 per cent compared to 7 per cent in December quarter and 7.5 per cent in the same quarter last year.

Media reports said the mutual fund arm of the lender removed Viresh Joshi, head trader and fund manager, from the fund management team of seven of its equity schemes. Deepak Agrawal, equity research analyst and fund manager, has also been removed from the management team of three funds.

The lower provisions are in sync with asset quality improvement which is the prevalent trend in the banking sector in the last two quarters. The private sector lender set aside Rs 75 crore towards provisions and contingencies in the March quarter which was 71% lower than Rs 255 crore provision it had made in the year-ago quarter.

The Mukesh Ambani-led telco’s March quarter revenue from operations came in 8% higher sequentially at Rs 20,901 crore compared to Rs 19,347 crore in the fiscal third quarter and Rs 17,358 crore in the year-ago period. Jio’s quarterly revenue from operation, was over 20% higher, year-on-year.

The Dow Jones Industrial Average fell 224.09 points, or 0.68%, at the open to 32,773.88.

“The L&T Info Tech & Mindtree merger will be immensely helpful for both of the companies to participate in the large deals to start with. There will be some cost synergies as well and the biggest benefit is that in the short term, the merger will create a bigger brand to recruit or retain talent.”