Why does the IL-76 have a lump at the bottom of its nose?
The 'lump' holds a ground surveillance (mapping) radar.
IL-76 has two radars: the usual meteo radar in the nose and the ground surveillance radar (primarily for navigation). In addition to that, like all contemporary Soviet long(er)-range transports (esp. military ones), it has a dedicated navigator position with the glassed 'verandah' for better view of the ground.
Most commonly, this navigator position took up the nose cone space that is (nowadays) usually reserved for the radar. If you look at most modifications of Tu-134 or Tu-114, you'll see they have a similar (but smaller) 'hump' underneath to house the meteo radar. But the widebody IL-76 could afford both the nose radar and the navigator station under it, plus a dedicated mapping radar.
The navigator's seat and equpment don't extend much below the lowest window, so most of the space is used for the radar rather than the navigator.