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STL Networks’ Shares Jump on ₹360 Crore PowerGrid Teleservices Contract
Business, business update, Markets, Result Updates - August 18, 2025

Kore Digital Q1 FY2026 Results: Robust Growth Driven by Telecom Infrastructure Demand

Kore Digital Q1 FY2026 Results: Robust Growth Driven by Telecom Infrastructure Demand

Kore Digital registers strong quarter with impressive revenue and profit growth amid expanding telecom infrastructure sector.

Overview of Kore Digital’s Q1 FY2026 Performance
Kore Digital delivered a strong financial performance for the quarter ending June 30, 2025, signaling a new phase of solid growth. The company’s revenue surged by approximately 35% quarter-on-quarter (QoQ) to ₹157 crore, compared to ₹116.5 crore in the previous quarter. This growth reflects heightened demand for telecom infrastructure services, bolstered by ongoing digitalization initiatives and network expansion activities across India.
Key financial highlights for the quarter include:
• Revenue: ₹157.01 crore (up 34.69% QoQ)
• EBITDA: ₹19.93 crore (up 15.54% QoQ)
• PAT: ₹13.51 crore, its 15.37% QoQ increase
• Basic Earnings Per Share (EPS): ₹11.44
These figures establish Kore Digital’s foundational strength in executing telecom infrastructure projects and are indicative of the company’s ability to capitalize on India’s accelerating digital growth and network rollout strategies.

Drivers of Growth
Telecommunication Infrastructure Demand
The telecom sector continues to be a key driver of Kore Digital’s growth. Increasing investments to strengthen 4G/5G networks, rollout of new fiber optic cables, and expanding data penetration have fueled demand for infrastructure solutions. Kore Digital’s focus on high-quality fibre and connectivity projects for large telecom operators and government infrastructure initiatives is clearly paying off.

Operational Efficiency and Margin Expansion
While revenues posted remarkable gains, EBITDA grew at a more moderate 15.5%, reflecting disciplined operational cost management amid rising expenses. The EBITDA margin was 11.63%, while the net profit margin came in at 8.6%. The company showed an encouraging trend in controlling operating expenses, positioning itself well for sustained margin expansion as scale improves.

New Contracts and Long-Term Outlook
Kore Digital announced new contracts, including connectivity work on the prestigious Samruddhi Mahamarg project, expected to begin generating revenues from December 2025. These strategic projects are expected to fortify earnings in upcoming quarters, providing visibility for growth beyond the current fiscal year.
Financial Health and Balance Sheet Strength
Kore Digital’s balance sheet reflects healthy capital deployment aimed at supporting expansion. Equity capital and reserves total around ₹106 crore, while total assets stand at about ₹246 crore. The company maintains a stable working capital cycle, and positive cash flows are anticipated with the ramp-up of new projects. Investor confidence remains strong, with promoter holding at approximately 63%.

Market Reaction and Analyst Views
The financial markets responded positively to Kore Digital’s quarterly results. The stock showed price gains post-results announcement, fueled by optimistic analyst commentary projecting continued telecom capex driving revenues and profitability. Analysts highlight Kore Digital’s well-diversified project portfolio, strong client relationships, and operational execution as key competitive advantages.
Analysts recommend monitoring margins and working capital performance closely, as well as successful execution of the upcoming Samruddhi Mahamarg connectivity project, which could serve as a major catalyst for medium-term growth.

Challenges and Risks
• Project Delays: Execution speed and regulatory approvals for large infrastructure projects can impact revenue visibility and cash flows.
• Competitive Pressure: The telecom infrastructure space is becoming increasingly competitive, potentially affecting pricing power and margins.
• Macro Headwinds: Supply chain disruptions or changes in government policies could slow investment pace.
Kore Digital’s management is focused on risk mitigation through contractual safeguards and maintaining operational agility to adapt to changing market dynamics.

Conclusion
Kore Digital’s Q1 FY2026 financial results demonstrate a solid leap forward, powered by robust telecom infrastructure demand and operational discipline. With revenues up 35% and net profit growing 15%, the company is well-positioned to leverage India’s digital infrastructure boom. Upcoming strategic projects, such as the Samruddhi Mahamarg connectivity, add confidence for sustained growth and investor interest.
While challenges persist, Kore Digital’s strong execution track record and market position form a sound foundation for future success. The quarter’s results confirm it as a key player in India’s telecom infrastructure services landscape with promising growth prospects in FY2026 and beyond.

 

 

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Coastal Corporation Q1 2026: Robust Performance and Rising Profits

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Dharani Sugars Q1 FY2026: Challenges Amid Industry Headwinds
Business, Equities, Result Updates - July 21, 2025

Tata Elxsi Q1 FY26 Net Profit Drops 22% Amid Global Headwinds

Tata Elxsi Q1 FY26 Net Profit Drops 22% Amid Global Headwinds

A challenging macroeconomic environment dampened Tata Elxsi’s financial performance in the first quarter of FY26, with notable declines in both profit and revenue.
Tata Elxsi, a leading provider of design and technology services across industries such as automotive, healthcare, and media, reported a steep decline in its earnings for the April–June 2025 quarter. The company’s consolidated profit after tax (PAT) dropped by 22% year-on-year to ₹144 crore from ₹184 crore in the corresponding quarter of the previous fiscal. The fall in earnings reflects the broader slowdown in global demand, particularly in the transportation and media sectors, which form a significant portion of Tata Elxsi’s business portfolio.

Revenue Falls as Client Spending Weakens

Tata Elxsi also saw its operating revenue slip by 3.7% to ₹892 crore compared to ₹926 crore in Q1 FY25. The fall in revenue is attributed to reduced discretionary spending by global clients, especially in the automotive and media & entertainment domains. With inflationary pressures, tight capital allocation, and prolonged decision-making cycles at the client end, new business opportunities have taken longer to convert, thereby slowing the overall topline growth.
Sequentially, however, the company managed to maintain a relatively flat performance, with some recovery seen in its transportation vertical, which registered a 3.7% quarter-on-quarter growth in volume terms.

EBITDA and Margins Under Pressure

Operating performance also took a hit during the quarter. Earnings before interest, taxes, depreciation, and amortization (EBITDA) fell approximately 26% year-on-year to ₹187 crore. EBITDA margins contracted to 20.9% from 27.2% in the year-ago period. The drop in margin was due to higher operational expenses, salary adjustments, and a weaker revenue base.
Profit before tax (PBT) came in at ₹196 crore, marking a 22.2% decline from the ₹252 crore reported in Q1 FY25. The margin pressure suggests that Tata Elxsi is facing difficulty balancing growth with cost optimization in the current environment.

Transportation Segment Shows Resilience

Despite overall weakness, the company’s largest business segment — transportation — displayed signs of recovery. This vertical, which contributes more than 50% of the firm’s revenue, recorded steady growth on a sequential basis. Although it remained flat on a constant currency basis, management expressed optimism that the transportation business would see an uptick in the second half of the year as delayed client projects resume.
On the other hand, segments like media & communications and healthcare remained sluggish due to lower tech investments by clients and ongoing budget constraints. The company continues to diversify its offerings to reduce dependency on any single vertical.

Strategic Deal Wins Highlight Growth Potential

Amid the earnings pressure, Tata Elxsi secured several strategic deals that could boost its performance in the coming quarters. Notably, the company signed a multi-million-dollar agreement with a prominent U.S.-based technology firm to support AI-driven product design and digital engineering. Additionally, it has forged a partnership in the medical devices space focused on cardiovascular testing and regulatory compliance.
These deal wins underline Tata Elxsi’s strength in innovation-led offerings and its ability to adapt to emerging industry needs such as AI, automation, and next-gen product development.

Management’s Outlook: Cautious Optimism

CEO and Managing Director Manoj Raghavan acknowledged the difficult quarter, citing macroeconomic headwinds, delayed client decisions, and weaker R&D spending. However, he emphasized that the company remains committed to long-term growth and is confident about improving performance in the second half of FY26.
He also noted that the current pipeline of opportunities remains strong, with clients increasingly engaging in discussions around digital transformation, autonomous systems, and cloud integration — all of which align with Tata Elxsi’s core strengths.

Stock Market Reaction Reflects Investor Concern

Tata Elxsi’s stock reacted negatively to the Q1 results. The shares dropped nearly 7% intraday following the earnings announcement, reflecting investor concerns about the decline in profit and revenue. The stock touched a low of around ₹5,660 during trading and ended the day among the top losers on the Nifty Midcap index.
Despite short-term volatility, analysts believe that Tata Elxsi remains fundamentally strong but may face continued margin pressure unless macro conditions improve or deal conversions accelerate. Some brokerages have issued a “sell” or “underperform” rating, citing valuation concerns and earnings risks in the near term.

Future Growth Hinges on H2 Recovery

Tata Elxsi’s performance in the first quarter underscores the challenges posed by a volatile global economic climate. However, with new client wins, a growing focus on high-value segments like AI and medical devices, and signs of revival in the transportation domain, the company is laying the groundwork for a rebound.
The second half of FY26 will be crucial in determining whether Tata Elxsi can convert its strong pipeline into tangible revenue growth and margin expansion. If macro conditions stabilize and clients resume their digital investment cycles, the firm may well return to a positive trajectory.

 

 

 

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Delhivery’s Stellar Quarter: Profit Surges 190% Sequential
Result Updates - May 17, 2025

Delhivery’s Stellar Quarter: Profit Surges 190% Sequential

Delhivery’s Stellar Quarter: Profit Surges 190% Sequential

 

Robust demand, operational efficiencies, and network strength drive growth

Delhivery Ltd., India’s leading logistics and supply chain solutions provider, has delivered an outstanding performance for the fourth quarter of FY25. The company reported a massive 190% quarter-on-quarter (QoQ) jump in net profit , reaching ₹72.6 crore, compared to ₹25 crore in the previous quarter. This marks a strong turnaround for the company that had faced headwinds in earlier quarters, particularly due to macroeconomic pressures and seasonal fluctuations.

The company’s financial performance during Q4 is a testament to its improving operational efficiency, strategic focus on profitable growth, and an uptick in demand across core business segments including express parcel services, part-truckload (PTL), and third-party logistics (3PL) warehousing.

Revenue and Margins Witness Robust Growth

This growth was fueled by an expansion in service offerings and increasing market demand from e-commerce and enterprise clients alike. Compared to the previous quarter, revenue showed a mild uptick of around 5%, which when combined with aggressive cost control, contributed to the sharp rise in profitability.

What stood out in this quarter’s performance was the significant improvement in EBITDA margins , which expanded to 6.1% versus 3.4% in Q3. The company attributed this to better yield management, automation-led efficiency gains, and tighter control over fixed overheads. Additionally, network optimization and reduced capacity under-utilization helped in reducing variable costs per shipment.

Segment Performance: Express and PTL Lead the Way

Delhivery’s express parcel services segment continued to be its largest revenue contributor, benefiting from e-commerce tailwinds and improved service levels. Shipment volumes rose by 9% sequentially, and the average revenue per shipment also witnessed moderate growth due to better product mix and premium services adoption.

The PTL freight business also saw robust traction, with volumes increasing 14% QoQ, driven by higher demand from small and medium enterprises (SMEs) and MSMEs, particularly from tier-2 and tier-3 cities. The company noted that its Spot platform — which connects shippers with real-time capacity — played a vital role in scaling this segment efficiently.

Delhivery’s supply chain services and warehousing verticals also witnessed expansion , as customers increasingly opted for integrated logistics solutions. While still a relatively smaller portion of the overall revenue pie, this segment is gaining strategic importance due to higher margins and sticky client relationships.

Strategic Initiatives and Technology Investments

Delhivery continued to invest in cutting-edge automation and AI-driven logistics platforms, which played a pivotal role in streamlining operations. During the quarter, the company enhanced its pan-India network coverage by operationalizing new hubs and strengthening connectivity in underpenetrated geographies.

In addition, the management revealed a **renewed focus on improving working capital efficiency, which helped reduce outstanding receivables and improve cash flows. Inventory turns improved in line with warehouse digitization and predictive demand tools, further reinforcing operational resilience.

The company has also deepened its partnerships with major e-commerce players, D2C brands, and industrial clients to offer customized logistics solutions, thereby driving cross-selling and upselling opportunities.

Management Commentary and Future Outlook

Commenting on the Q4 performance, CEO Sahil Barua stated, Our focus on execution, network efficiency, and product innovation has resulted in a resilient quarter. We are encouraged by the broad-based improvement across business segments and believe this momentum will carry into FY26.

The management guided for double-digit revenue growth in FY26,backed by improving demand, new client wins, and ongoing investments in capacity and technology. It also hinted at the possibility of select acquisitions to enhance last-mile capabilities and international freight forwarding reach.

Delhivery also reaffirmed its goal of sustainable EBITDA-level profitability, indicating that the worst of its margin compression phase may be behind it. Analysts tracking the logistics space view Delhivery as a structurally sound play in India’s growing digital commerce infrastructure.

Market Reaction and Analyst Takeaways

Following the strong results, Delhivery’s shares surged over 6% in intraday trade, reflecting investor confidence in the company’s turnaround story. Several brokerages have revised their target prices upwards, citing strong volume growth, operating leverage, and the company’s expanding market share in organized logistics.

The stock, which had faced pressure in previous quarters due to high fixed costs and muted demand, is now being seen as a key beneficiary of India’s logistics sector formalization and increasing digital penetration in supply chains.

Summary

Delhivery recorded a significant 190% rise in its net profit for Q4 FY25, reaching ₹72.6 crore, fueled by enhanced operational efficiency and strong demand across its logistics services. Revenue grew to ₹2,076 crore, supported by better cost management and increased shipment volumes in its express and part-truckload (PTL) businesses. Margin expansion and strategic investments in automation further strengthened the company’s performance. With optimistic management guidance and improving sector dynamics, Delhivery is well-positioned for steady growth in the coming fiscal year.

 

 

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Britannia Butters Up Bottom Line: Q4 Profit Rises 5% to ₹557 Cr
Result Updates - May 10, 2025

Britannia Butters Up Bottom Line: Q4 Profit Rises 5% to ₹557 Cr

Britannia Butters Up Bottom Line: Q4 Profit Rises 5% to ₹557 Cr

 

Britannia Industries reported a net profit of ₹557 crore for Q4 FY25, up 5% from last year. Annual revenue hit ₹16,859.2 crore, reflecting a 5.8% increase driven by strong demand and cost optimization.

Summary:

Britannia Industries announced a 5% increase in its consolidated net profit, which amounted to ₹557 crore for the fourth quarter of FY25. The company’s annual revenue grew by 5.8%, totalling ₹16,859.2 crore, and its net profit for the fiscal year increased to ₹2,130.2 crore. This performance highlights effective cost management and steady results in core categories despite inflationary challenges and difficulties in rural demand.

Britannia Shows Resilience with Steady Growth in Q4 FY25

Britannia Industries, a leading player in India’s FMCG sector, has demonstrated its resilience in Q4 FY25 by achieving strong financial results despite challenges such as fluctuating commodity prices, inflation, and a slow recovery in rural markets. For the quarter ending March 31, 2025, the company reported a net profit of ₹557 crore, reflecting a 5% year-on-year growth, which indicates effective operational execution and strategies for protecting margins.

This quarterly performance contributed to an annual revenue of ₹16,859.2 crore for FY25, representing a 5.8% increase from the previous year. The net profit for the year also rose 2.3%, reaching ₹2,130.2 crore, showcasing a stable performance across various product categories.

Financial Highlights: Q4 FY25 and Full-Year Performance

Particulars Q4 FY25 Q4 FY24 % Change (YoY)
Revenue from Operations ₹4,260 crore ₹4,050 crore +5.2%
Net Profit ₹557 crore ₹530 crore +5.0%
EBITDA Margin ~18.8% ~18.3% +50 bps
FY25 Revenue ₹16,859.2 crore ₹15,927.6 crore +5.8%
FY25 Net Profit ₹2,130.2 crore ₹2,082.8 crore +2.3%

Even with global challenges and rising input expenses, the slight increase in profitability highlights Britannia’s strategic focus on cost optimization, value engineering, and operational efficiency. The company’s capacity to sustain gross margins in fluctuating commodity prices, particularly wheat, sugar, and milk, showcases its remarkable resilience.

Management Commentary: Focus on Cost Control and Product Innovation

In a statement regarding the company’s performance, Varun Berry, Vice Chairman & Managing Director of Britannia Industries, remarked: 

“We have consistently performed well this year, maintained our margins and increasing market share across various categories. Our teams have shown agility and efficiency in the face of challenges in the commodity market and a slow recovery in rural demand. We are committed to enhancing our distribution network and developing our brands for the future.”  

The company’s focus on premium products, expansion into the dairy sector, and exploration of opportunities in snacking and health-oriented foods yield positive results. Britannia’s recent products, including milk-based beverages, croissants, and plant-based health snacks, have gained notable popularity, particularly in urban and semi-urban areas.

Rural Demand Remains Soft, Urban Markets Drive Growth

Rural India contributes approximately 30–3 Britannia’s sales and has shown only a slight recovery due to inflationary challenges and inconsistent monsoons. Nevertheless, the company has successfully broadened its rural distribution networks by focusing on low-unit packs (LUPs) and value-for-money options to appeal to budget-conscious consumers. 

In contrast, urban markets emerged as the primary source of growth during the quarter, benefiting significant modern trade and e-commerce channels. The company’s digital commerce division experienced double-digit growth, supported by partnerships with various platforms, including Quick Commerce, which Britannia has actively pursued.

Key Growth Drivers: Innovation, Supply Chain, and Global Expansion

Britannia is progressing in its supply chain by utilizing data-driven insights and updating its warehousing facilities. The company has introduced new manufacturing lines in Uttar Pradesh and Tamil Nadu, enhancing Britannia’s efficiency and lowering logistics expenses. 

On an international scale, Britannia’s operations in Gulf countries, Nepal, Bangladesh, and Africa have helped mitigate some challenges in the domestic market. The company has experienced double-digit growth in its international business, with an increasing export revenue. 

Furthermore, innovations in health and wellness, such as high-fiber biscuits, sugar-free options, and protein-rich cookies, have allowed the company to meet the changing preferences of India’s health-conscious middle class.

Outlook: Optimistic but Cautious

In FY26, Britannia anticipates a stronger recovery in rural markets, bolstered by an expected normal monsoon, increased pre-election spending, and government programs like PM-KISAN and free ration distributions. Commodity prices are projected to stabilize, which may help alleviate some margin pressures.

Nevertheless, the company remains vigilant regarding global inflation trends, fluctuating interest rates, and currency volatility, particularly with its expansion into international markets.

Britannia’s plans include:

– Diversifying its product offerings in snacking and dairy

– Bolster direct sales presence across Tier-2 and Tier-3 locations

– Increasing investments in digital and automation initiatives

– Refining its strategies to align with ESG principles

Conclusion: Steady Execution Amid Economic Challenges

Britannia Industries’ Q4 and FY25 results demonstrate a strategic approach that balances growth with cost management’s consistent performance in the face of macroeconomic challenges. Alongside its investments in innovation and supply chain efficiency, Britannia Industries solidified its status as a robust FMCG leader in India. 

With changing consumption patterns and a resurgence in rural markets, Britannia’s varied product offerings, strong brand reputation, and effective distribution strategies are expected to support a stable growth path in the upcoming fiscal year.

 

 

 

 

 

 

 

 

 

 

 

 

 

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Sonata Software Sees Solid Q4 Revenue Rise, Minor Profit Decline
Result Updates - May 8, 2025

Sonata Software Sees Solid Q4 Revenue Rise, Minor Profit Decline

Sonata Software Sees Solid Q4 Revenue Rise, Minor Profit Decline

 

The tech services firm announces ₹4.4 per share dividend as it strengthens its position with robust top-line growth and strategic global deals

Introduction

Sonata Software, a prominent player in the digital transformation and IT services sector, has reported a healthy rise in its revenue for the fourth quarter of the financial year 2024–25. Despite a modest drop in net profit, the company’s continued growth in international markets, successful client acquisitions, and strong dividend payout underline a confident and resilient performance.

Revenue Rises Over 19% YoY

During the fourth quarter of fiscal year 2025, Sonata Software generated ₹2,617.2 crore in consolidated revenue, reflecting a growth of over 19% compared to the same quarter in the previous fiscal year. The increase reflects the company’s robust pipeline of enterprise deals and growing demand for its IT and digital transformation services across key geographies.
Much of the company’s revenue boost can be attributed to a surge in its international IT services business, which continues to drive Sonata’s topline. As more global enterprises accelerate their cloud adoption, AI integration, and digital workflows, Sonata has positioned itself as a go-to partner for scalable and efficient solutions.

Net Profit Records Marginal Decline

Sonata Software earned ₹107.5 crore in net profit for Q4 FY25, which is around 3% lower than what it made in the same quarter a year ago, despite solid revenue growth.
This minor dip was due to higher operational costs and increased investment in new strategic initiatives, including talent acquisition and technology upgrades.
However, on a quarter-on-quarter basis, the profit showed a 2% improvement, signaling stability in earnings and the ability to sustain profitability despite competitive industry pressures.

Final Dividend Declared at 440%

Sonata Software announced a final dividend of ₹4.4 per share for FY25, showing its aim to share profits and maintain steady returns for its shareholders.
This payout, which reflects 440% on a face value of ₹1, highlights the company’s continued focus on creating shareholder value even while investing in long-term growth opportunities.
This move comes after a steady track record of dividend declarations by the company and further demonstrates its strong cash position and commitment to distributing profits responsibly.

Share Price Reacts Positively

After the earnings report, Sonata Software’s stock rose by almost 5% in market trading.
The markets responded favorably not just to the revenue growth but also to the company’s execution capabilities, resilient profit margins, and forward-looking dividend declaration.
The uptick in share price also signals investor confidence in the firm’s global expansion strategy and its ability to secure high-value tech transformation contracts.

International Expansion and Strategic Wins

Sonata has made significant inroads in international markets, especially in the US and Europe, with two major client acquisitions during the quarter. These wins reinforce the company’s strengths in delivering complex IT services to enterprise clients looking to modernize operations.
The company’s management emphasized its intent to keep investing in digital capabilities, artificial intelligence, cloud solutions, and customer experience platforms — areas that are critical to its global clients’ business transformation goals.
Sonata also noted a notable improvement in EBITDA margins for its international operations, signaling increased operational efficiency and better resource allocation.

Focus on Technology-Led Growth

With technology at the heart of its strategy, Sonata is committed to deepening its offerings in data-driven digital services. The company continues to focus on building solutions around AI, automation, cloud-native development, and modern enterprise platforms like Microsoft Dynamics and SAP.
Its integrated approach to digital engineering and business IT has helped the firm create value-added services that go beyond traditional outsourcing, offering transformation at scale.

Conclusion

Sonata Software’s fourth-quarter performance for FY25 paints a picture of a company that is growing in both size and strategic focus. While net profit saw a slight year-on-year dip, the significant increase in revenue and solid dividend payout reflect underlying strength.
With momentum from key international deals, increasing EBITDA margins, and a technology-first growth model, Sonata is poised to further strengthen its presence in the global IT services landscape.
Investors, analysts, and stakeholders are likely to view the company’s performance as a mix of prudent financial management and strategic foresight — an encouraging sign for future quarters.

 

 

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