Good morning!
Here are the top stories to start your day.
⭐ Shree Cement's net profit declines
Shree Cement (+0.5%) reported a 15% YoY decline in standalone net profit to ₹546 crore in Q4FY23, from ₹645 crore last year. However, its revenue from operations grew by 16.7% YoY to ₹4,785 crore from ₹4,098 crore. With a second interim dividend of ₹55 declared by the company's board, its total dividend for the year has gone up to ₹100 per share.
⭐ BPCL’s Q4 profit zooms
Oil and Gas company, Bharat Petroleum (+0.5%), reported a growth of 159% YoY in net profits to ₹6,477 crore for Q4FY23. In the same period, its revenue from operations increased 8.1% to ₹1.33 lakh crore, against ₹1.23 lakh crore in the same quarter last year. The company’s board has recommended a dividend of ₹4 per share.
⭐ Aditya Birla Fashion reports loss in Q4
Apparel retailer, ABFRL (-1.0%), reported a consolidated net loss of ₹186.9 crore in Q4FY23, compared to a profit of ₹43.5 crore in the same quarter last year. According to the company, profit was impacted due to negative operating leverage on the back of sluggish sales. On the other hand, the company posted a 26.1% YoY growth in revenue at ₹2,879 crore for the same period.
Global markets (at 7:00 AM today)
| Indices | Today's movement |
| SGX Nifty | ▲ 0.14% |
| Nikkei 225 (Japan) | ▲ 0.79% |
| Hang Seng (Hong Kong) | ▲ 0.05% |
| SSE Composite (China) | ▼ 0.05% |
| Dow Jones (US) (May 22) | ▼ 0.42% |
| NYSE (US) (May 22) | ▼ 0.04% |
| Nasdaq (US) May 22) | ▲ 0.50% |
| S&P 500 (US) (May 22) | ▲ 0.02% |
Fact of the day
Jio added 30.5 lakh mobile subscribers in March, while Vodafone Idea lost 12.12 lakh users in the same month according to data released by TRAI