BEL reports profit

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⭐ BEL reports profit

Defence PSU, Bharat Electronics (-0.7%) reported a 19.5% growth in profit for Q4FY23 to ₹1,365 crore from ₹1,141 crore recorded in the corresponding quarter of last year. In the same period, the company achieved a revenue from operations of ₹6,456 crore, up 2% YoY, compared to ₹6,324 crore last year. The company’s order book as on 1 April 2023, stood at ₹60,690 crore. Its board has recommended a final dividend of ₹0.60 per share.

⭐ NTPC profit shrinks

Public sector power company NTPC (1.0%), reported a 6.3% YoY decrease in consolidated profit at ₹4,871 crore for Q4FY23, against ₹5,199 crore last year. During the same period, its consolidated revenue from operations grew by 19.3% YoY to ₹44,252 crore from ₹37,085 crore. The company's board recommended a final dividend of ₹3 per share.

⭐ Divi’s Labs profit drops

Divi's Laboratories (-1.9%), reported a drop of 63.8% YoY in net profit for Q4FY23 at ₹319 crore from ₹883 crore in the previous year. Similarly, its total revenue fell 22.4% YoY in the quarter to ₹1,974 crore from ₹2,546 crore. The company said that its total income for FY23 is about 11 % lower YoY because of the significantly lower volume of covid situational opportunity. Its board has proposed a dividend of ₹30 per share.

Global markets (at 9:00 AM today)

Fact of the day

Foreign Portfolio Investors (FPIs) have invested ₹30,945 crore in Indian equities in May.

Source: Economic Times