LTIMindtree, Tata Capital, Adani Power, CEAT Q3 Earnings Review | Quick Digest

LTIMindtree, Tata Capital, Adani Power, CEAT Q3 Earnings Review | Quick Digest
CNBC TV18 reported on January 20, 2024, about key stocks like LTIMindtree, Tata Capital, Adani Power, and CEAT. LTIMindtree's Q3 net profit saw a decline due to labor code costs but underlying performance was strong. Tata Capital reported a significant rise in net profit. CEAT also posted a substantial jump in profit. Adani Power's stock showed mixed performance.

LTIMindtree's Q3 net profit declined due to labor code costs.

Tata Capital reported a 9.9% year-on-year increase in net profit.

CEAT's Q3 profit jumped 60% year-on-year.

Adani Power's stock experienced mixed movements.

The article covers Q3 financial results of prominent Indian companies.

The date of the article is January 20, 2024.

On January 20, 2024, CNBC TV18 highlighted key Indian stocks, including LTIMindtree, Tata Capital, Adani Power, and CEAT, focusing on their third-quarter financial results. LTIMindtree reported an 11.69% year-on-year decline in consolidated net profit to ₹959.6 crore, primarily due to a one-time impact of the new labor code, although revenue saw an 11.59% increase to ₹10,781 crore. Excluding the labor code impact, the underlying earnings showed a strong performance, with net profit rising significantly. Tata Capital announced robust Q3 FY26 financial results, with a 9.9% year-on-year increase in net profit to ₹789.86 crore, supported by strong revenue growth. The company also saw an improvement in its debt-equity ratio. CEAT Ltd. reported a strong Q3 performance with a 60.4% year-on-year jump in consolidated net profit to ₹156 crore, and revenue increased by 26% to ₹4,157 crore. The company also incurred a one-time loss of ₹58 crore due to new labor codes. Adani Power's stock performance was mixed, with some reports indicating minor gains and others slight decreases on January 20, 2024. Financial data for Adani Power showed varied performance metrics over different periods, including good profit growth over the past three years. The article serves as a snapshot of the financial health and stock market movements of these major Indian corporations during the specified quarter and trading day.
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