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⭐ Adani Green’s revenue jumps
The renewable energy arm of the Group reported a 2% year-on-year (YoY) decline in its consolidated net profit to ₹214 crore. However, revenue from operations jumped by 67% to ₹1,635 crore. The company's revenue from power supply also rose by 57% YoY to ₹1,328 crore, while the EBITDA improved by 60% to ₹1,265 crore. According to the management, growth in revenue and EBITDA was due to capacity addition, improved solar and wind capital utilisation factor.
⭐ FMCG sector sees growth in Q1
As per a report, India’s FMCG sector posted a 11% growth in terms of value in Q1FY23. The rise was supported by an increase in consumption despite the slowness in the non-food segment in the rural market. According to the report, overall consumption revived on a sequential basis in Q1, but it reported a negative growth of 0.7% YoY. Meanwhile, urban markets revived with positive volume growth of 0.6% but rural markets posted a negative growth of 2.4%.
⭐ India’s unemployment rate dips
India’s unemployment rate fell to its lowest in six months in July. The rate fell to 6.8% in July, against 7.8% in June. Meanwhile, rural India's unemployment rate saw a decline in July to 6.1%, the lowest in 6 months as compared to 8.03% in June. Among states, Haryana has the highest unemployment rate of 27%, followed by J&K at 20%, Rajasthan at 19%, and Bihar at 18%.
Global markets (at 7:30 AM today)
| Indices | Today's movement |
| SGX Nifty | ▲ 0.25% |
| Nikkei 225 (Japan) | ▲ 0.53% |
| Hang Seng (Hong Kong) | ▲ 0.40% |
| SSE Composite (China) | ▲ 0.55% |
| Dow Jones (US) (August 02) | ▼ 1.23% |
| NYSE (US) (August 02) | ▼ 0.86% |
| Nasdaq (US) (August 02) | ▼ 0.16% |
| S&P 500 (US) (August 02) | ▼ 0.67% |
Fact of the day
WhatsApp banned over 22 lakh Indian accounts in June for violating norms.
Source: TOI