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Marico Ltd, a leading FMCG company in India, reported a significant 15% rise in its consolidated net profit, reaching ₹436 crore for the first quarter ending on June 30, 2024. This marks a notable improvement compared to the ₹377 crore net profit posted in the same April-June quarter of the previous year, as stated in the regulatory filing by Marico.However, the company experienced a decline in its revenue from operations, which decreased by 3.16% to ₹2,477 crore during the current quarter, compared to ₹2,558 crore recorded in the corresponding period a year ago.Marico attributed the growth in its gross margin to surpassing internal expectations, expanding by 494 basis points (bps) year-on-year and 257 bps sequentially.

This increase was primarily driven by softer input costs, resulting in improved profitability for the company. (Read More)Tata Consultancy Services (TCS) has recently made changes to its senior management positions (SMP) and has formally communicated this to the Indian stock market.

K Ananth Krishnan, the Executive Vice President of TCS, will be stepping down from his SMP role due to his planned retirement. According to the exchange filing, this transition will be effective from July 31, 2023, as his retirement is scheduled for October 2023.In light of these changes, TCS has announced that Dr Harrick Vin, currently serving as the Chief Services Innovation Officer, will assume the role of SMP starting from August 1, 2023.

Dr Harrick Vin holds the prestigious position of TCS fellow and possesses a wealth of experience spanning over three decades in both academia and industry. Prior to this appointment, he successfully led TCS Digitate.