Here are the top stories to start your day.
⭐ Bharat Dynamics’ profits decline
Bharat Dynamics (-6.1%) reported a decline of 42.3% YoY in net profit to ₹152.7 crore for Q4FY23. It also reported a drop of 41.2% YoY in revenue to ₹796.8 crore for the same period. The company's board recommended a final dividend of ₹1.20 per share..
⭐ Emami's Q4 profit plummets
FMCG company Emami (-1.5%) posted a 60% YoY drop in consolidated profit to ₹141.6 crore. Profit for the same period last year was ₹354.1 crore. However, its consolidated revenue grew by 9% YoY to ₹836 crore. The company indicated rural inflation and the reduction of nonessential expenditure by rural consumers as major challenges.
⭐ Dhanuka Agritech posts a profit
Agrochemical firm, Dhanuka Agritech (+5.2%) reported a 20.3% rise in consolidated net profit to ₹65.3 crore for Q4FY23, up from ₹54.2 crore in the corresponding quarter last year. Its revenues for Q4 were ₹371.2 crore, up 16.6 % over ₹318.30 crore in the previous fiscal.
Global markets (at 8:15 AM today)
|SGX Nifty||▼ 0.2%|
|Nikkei 225 (Japan)||▲ 0.9%|
|Hang Seng (Hong Kong)||▼ 1.9%|
|SSE Composite (China)||▼ 0.6%|
|Dow Jones (US) (May 25)||▼ 0.1%|
|NYSE (US) (May 25)||▼ 0.3%|
|Nasdaq (US) May 25)||▲ 1.7%|
|S&P 500 (US) (May 25)||▲ 0.8%|
Fact of the day
Investment in clean energy is expected to exceed spending on fossil fuels in 2023 as per the International Energy Agency.
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