Top headlines: Dec inflation at 6-month high; Infosys Q3 net rises 12%

Business Standard brings the top headlines on Wednesday

Dec retail inflation rises to 5.59%; Nov IIP growth at 1.4%

Retail inflation rose to 5.59% in December, mainly due to an uptick in food prices, government data showed on Monday.

The Consumer Price Index (CPI) based retail inflation was 4.91% in November 2021 and 4.59% in December 2020.

As per the data released by the National Statistical Office (NSO), food inflation rose to 4.05% in December this fiscal compared to 1.87% in the preceding month. Read more

Infosys Q3 net profit rises 12% to Rs 5,809 cr, raises FY22 revenue guidance

India's second-largest software services firm Infosys on Wednesday reported an 11.8 per cent rise in consolidated net profit to Rs 5,809 crore for December 2021 quarter.

The IT firm also increased its revenue growth guidance for FY22 to 19.5-20 per cent.

The Bengaluru-based company had registered a net profit (after minority interest) of Rs 5,197 crore a year ago, a regulatory filing said. Read more

Wipro Q3 net profit flat at Rs 2,969 cr YoY, up 1.3% sequentially

Wipro continued its growth momentum on the back of acquisitions and rising digital spends by customers even in a seasonally soft quarter. The company reported net profit at Rs 2,969 crore, which was flat year-on-year basis and profits grew 1.3 per cent on sequential basis.

Revenue for the quarter at Rs 20,311 crore was up 29.6 per cent YoY and and 3.3 per cent sequentially. In constant currency terms, the firm said revenues grew by 3 per cent. For Q4FY22 the company has guided for a growth range of 2-4 per cent at $2,692 million to $2,745 million. Read more

Supertech case: 'Return money to homebuyers by Jan 17,' says SC

The Supreme Court on Wednesday slammed the real estate developer Supertech over non-payment to the homebuyers for the flats, which were ordered to be demolished.

A Bench headed by Justice DY Chandrachud told Supertech to keep their office in order and to make the payment to home buyers by January 17. It said that no amount should be deducted while giving back the money. Read more