Fri, Oct 18, 2024 10:31 AM
TPG leads $150-mn round in edtech firm Eruditus
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Shares of Tanla Platforms tanked close to 7 percent on October 18 as investors flew the stock after the company reported dismal earnings for the July-September period. The company's net profit sank 9 percent on year to Rs 130.2 crore while revenue fell one percent to Rs 1,000.70 crore. Revenue from the company’s digital platforms segment declined nearly 8 percent year-on-year to Rs 88 crore.
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LTIMindtree reported strong Q2 results, with 2.3% QoQ CC revenue growth, driven by broad-based growth across verticals and geographies, and a 50bps QoQ increase in EBIT margin to 15.0%. The company's strong execution and sales engine position it well for growth, with a target price of INR 7360 and a BUY recommendation.
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Infosys reported a strong quarter with revenue up 3.1% QoQ CC, driven by growth in manufacturing and Europe, and aided by In-Tech integration. EBIT margin was flat at 21.1%, and revenue guidance was revised to 3.75-4.5% CC growth. The stock is trading at 24x FY27E, with a target price of INR 2,260, maintaining a BUY rating.
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