Good morning!
Here are the top stories to start your day.
⭐ Aurobindo Pharma's Q4 profit shrinks
Aurobindo Pharma (+1.8%) reported a drop of 12.2% in net profit to ₹505.9 crore in Q4FY23 from ₹576.1 crore in the comparable quarter last year. In the same period, its revenue from operations grew by 11.4% YoY to ₹6,473 crore. The company said it witnessed a decent performance in the current quarter driven by stable demand and pricing environment across its portfolio and geographies.
⭐ JK Cement's profit drops
JK Cement (+1.8%) reported a net profit of ₹112.26 crore in Q4FY23, a drop of 44% compared to ₹201.12 crore posted in the same period last year. However, its net consolidated total income for the quarter grew 17.7% YoY at ₹2,815.84 crore from ₹2,392.28 crore last year. The company's board has recommended a dividend of ₹15 per share.
⭐ Indigo Paints reports robust profit growth
Indigo Paints (+2.6%) reported a profit of ₹48.68 crore for Q4FY23, a growth of 40.7 % YoY from ₹34.59 crore posted last year. Its revenue from operations for the quarter stood at ₹325.47 crore, up 12.8% from ₹288.38 crore reported in the corresponding quarter of last year. The company's board has recommended a final dividend of ₹3.50.
Global markets (at 8:45 AM today)
| Indices | Today's movement |
| SGX Nifty | ▲ 0.8 % |
| Nikkei 225 (Japan) | ▲ 1.3% |
| Hang Seng (Hong Kong) | ▼ 0.4% |
| SSE Composite (China) | ▲ 0.0% |
| Dow Jones (US) (May 27) | ▲ 1.0 % |
| NYSE (US) (May 27) | ▲ 0.6% |
| Nasdaq (US) May 27) | ▲ 2.1% |
| S&P 500 (US) (May 27) | ▲ 1.3% |
Fact of the day
Banks reported lowest bad loan provisioning in Q4, since the pandemic
Source: Economic Times
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