Apollo Hospitals misses expectations

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⭐ Apollo Hospitals misses expectations 

In the December quarter, the multispecialty healthcare company’s net profit declined 33% YoY to ₹163 crore. This was lower than the street estimate of ₹229 crore. The rise in input costs and other expenses dented the profits. Meanwhile, the revenue rose 17% to ₹4,263 crore.    

⭐ Grasim Industries profit soars 

The diversified (cement-to-finance) company’s net profit surged 44% YoY to ₹2,516 crore. In the same period its revenue grew 17% YoY to ₹28,638 crore – driven by its subsidiaries UltraTech Cement and Aditya Birla Capital. The management said that while domestic consumption remained healthy, global macro conditions impacted export-related demand.  

⭐  Bata India focuses on expansion  

The footwear major’s net profit rose 15% to ₹83 crore in the December quarter. This was supported by a 7% YoY rise in revenue to ₹900 crore. The company is focusing on premiumisation of the portfolio and expansion. It has added 39 new franchise stores in the December quarter. 

Global markets (at 9:15 AM today)

Fact of the day

In 1929, the Dow Jones plunged from its high of 381. It took the index 25 years to regain that high. 

Source: CNN