Good morning!
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)
| Indices | Today's movement |
| 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.
Source: Reuters