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Info Edge (India) Limited, the parent of Naukri.com and 99acres, reported a sharp jump in annual profit for FY26, driven less by its operating businesses and more by gains from its sprawling startup investment portfolio.

The Noida-based company posted a 15.9% year-on-year rise in consolidated revenue for Q4 FY26. Consolidated net profit for the quarter ended March 31, 2026 stood at Rs 756 crore, while other income during the period came in at Rs 497 crore.

Meanwhile, food delivery platform Swiggy has failed to secure the requisite shareholder approval to alter its Articles of Association, with which it had aimed to qualify as an Indian-owned and controlled company, according to an exchange filing.

The filing, made on Thursday, showed that the resolution received 72.36% shareholder approval, falling short of the required threshold by 2.65 percentage points.

In other developments, Finnish phone maker HMD has launched its first smartphone, the Vibe 2 5G, preloaded with Indian AI firm Sarvam's chatbot Indus. The partnership was announced at the India AI Summit in New Delhi earlier this year.

Indus is powered by Sarvam's 105-billion-parameter AI model and supports 22 Indic languages, including mid-sentence code-switching. The chatbot currently does not support offline usage or device-level shortcuts, and the partnership is expected to gauge demand for India-focused AI assistants.

In today's newsletter, we will talk about

• Creating a new generation of artisan entrepreneurs
• FIS India GCC's scalable AI for financial services

Here's your trivia for today: What was the first widely-used web browser?

Social Enterprise

In Maheshwar, Madhya Pradesh, Nivedita Rai and Sourodip Ghosh observed a persistent gap in India's handloom sector-highly skilled weavers remained trapped in low-paying wage work while most of the value was captured elsewhere in the supply chain. This insight led them to build Karghewale, an initiative that repositions artisans as entrepreneurs rather than labourers.

Empowering artisans:

• Karghewale trains artisans in business, costing, and design while acting as a market bridge, enabling them to operate independently with direct access to buyers and upfront order support.
• Karghewale began with an incubation programme with 150 young artisans through the Handloom School project. Not everyone became an artisan entrepreneur, but 55 from the cohort did over the course of the programme, which runs for 2.5-3 years.
• Now, many artisans have transitioned into small business owners with significantly higher earnings, growing autonomy, and the potential to employ others and build scalable craft enterprises.

GCC

Fidelity Information Services (FIS) is advancing its AI strategy through a governance-first approach, prioritising scalability, trust, and measurable business value before deploying solutions. Its India GCC, spread across Bengaluru and Chennai, has become a key engine driving AI development, experimentation, and global rollout, especially in a highly regulated financial services environment.