Top 5 tech and startup stories of the day
Wipro’s muted quarter; UPI’s merchant fee revival Want this newsletter delivered to your inbox? Also in the letter Wipro Q1 results: Profit flat at Rs
Wipro’s muted quarter; UPI’s merchant fee revival Want this newsletter delivered to your inbox? Also in the letter Wipro Q1 results: Profit flat at Rs 3,352 crore in June quarter Financials Net profit: Up 1% year-on-year (YoY) to Rs 3,352 crore from Rs 3,330 crore. Up 1% year-on-year (YoY) to Rs 3,352 crore from Rs 3,330 crore. Revenue: Increased 11% YoY to Rs 24,479 crore from Rs 22,135 crore. Increased 11% YoY to Rs 24,479 crore from Rs 22,135 crore. Dividend: The board declared an interim dividend of Rs 2 per share. Guidance CEOSpeak Also Read Wipro clients moving from AI experimentation to execution: Rishad Premji Tech Mahindra Q1 results: Net profit rises 28%, revenue up 18% The numbers Net profit: Rose 28% YoY to Rs 1,465 crore from Rs 1,140.6 crore. Rose 28% YoY to Rs 1,465 crore from Rs 1,140.6 crore. Sequentially: Profit increased over 8% from Rs 1,353.8 crore in the March quarter of FY26.
Profit increased over 8% from Rs 1,353.8 crore in the March quarter of FY26. Revenue: Grew 18% YoY to Rs 15,712 crore from Rs 13,351.2 crore. CEO's take UPI merchant fee likely to be set at 5-7 basis points: sources What's happening? ET had reported on July 16 that the proposal is in its final stage and awaiting government approval. and awaiting government approval. The levy is likely to apply only to merchants with an annual turnover of Rs 1-1.5 crore or more. Peer-to-peer (P2P) transfers and payments to small merchants will remain free. A parliamentary standing committee had recommended bringing back MDR earlier this year.. At 5-7 basis points, merchants would pay Rs 5-7 on a Rs 10,000 transaction. Why it matters Also Read UPI fees explained: Why the government plans to revive MDR and who will pay Ather Energy's Rs 1,300-crore QIP subscribed over eight times: sources More on this The issue has been subscribed more than eight times.
It opened at a floor price of Rs 1,169.70 per share, about 10% below Wednesday's closing price of Rs 1,298. Several domestic mutual funds and foreign institutional investors participated in the issue. Investors in the preferential allotment, including Hero MotoCorp and Ather's founders, are investing at around 7% above the QIP floor price. What else? Also Read Byju's creditors clear Aakash settlement proposal Case update The Bengaluru bench of the NCLT adjourned the case to August 18, giving the parties more time to complete the settlement. Counsel Ichchha Kalash said talks between Think & Learn, Aakash Educational Services, and Manipal Education and Medical Group are progressing, with creditors approving the proposal. ET had reported on June 22 that talks between Manipal Education and Medical Group and the GLAS Trust, representing Byju's US lenders, were at an advanced stage. Competing claims The settlement aims to resolve the ownership dispute over Aakash Educational Services, in which Manipal Education and Medical Group, led by Ranjan Pai, holds about 58%.
The BriefWire