Mindtree’s profit jumps

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⭐ Mindtree’s profit jumps

IT company Mindtree reported strong numbers for the September quarter. Its revenue rose by 31.5% year-on-year (YoY) to ₹3,400 crore, while net profit grew 27.5% YoY to ₹508 crore. Meanwhile, the attrition rate stood at 24.1%. The management said with an order book of $518 million for the quarter, its signings for the first half of FY23 crossed $1 billion for the first time in its history.

⭐ Investment in real estate sector rises 

As per a new industry report, institutional investments in Indian real estate rose by 18% YoY to $3.6 billion during January-September 2022. The office sector saw more than 50% of the total inflows, as the segment is witnessing healthy recovery in 2022. Global investors continue to dominate funding activity, while domestic investors accounted for an 18% share.   

⭐ IMF says India a bright spot

The managing director of the International Monetary Fund (IMF) has called India a bright spot in a dark global horizon. She said that India is a fast-growing economy even during difficult times and the growth is supported by structural reforms. India’s economy posted growth of 13.5% in the April-June quarter. This came on the back of a favourable base effect and improved growth activities.

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Fact of the day

A pair of Levi's jeans from the 1880s was sold for $76,000 at an auction in New Mexico.

Source: NDTV