Though demand for labour is softening, layoffs remain very low as companies hang on to their workers following challenges finding labour during and after the COVID-19 pandemic
Cognizants performance reflects the overall IT sectors sentiment with domestic majors as Tata Consultancy Services, Infosys, and Wipro also reported low single-digit revenue growth. All companies have the majority of their clients based in the US and Europe.
Ramkrishna Forgings Ltd (RKFL) on Thursday reported a 31 per cent rise in standalone net profit to Rs 87.30 crore for the January-March quarter of 2023-24. Its net profit was at Rs 66.82 crore in the January-March period of 2022-23, the company said in an exchange filing.
EPC firm Tata Projects on Thursday reported a profit after tax of Rs 120.57 crore for the quarter ended March 31 on the back of higher revenues. The company had posted a loss of Rs 366.42 crore in the year-ago period, Tata Projects said in a statement.
Montreal-based Gildan earned $211-million in gross profit in the first three months of the year, its first quarter under newly installed CEO Vince Tyra