Coal India Q4: Net profit down, declares dividend
Good morning!
Here are the top stories to start your day.
For more updates on F&O, click here.
⭐Adani Power reports mixed Q4 numbers
The energy company reported a consolidated profit growth of over 12% YoY to ₹5,242 crore for the March quarter. The profit growth came on account of lower financial costs. Meanwhile, its total revenue declined by over 18% to ₹10,795 crore due to higher fuel cost and lower prior period revenue recognition.
⭐ Coal India Q4: Net profit down, declares dividend
India’s largest coal miner reported lower net profit during the fourth quarter. Its net profit was down 18% YoY to ₹5,528 crore, mainly due to increased provisions towards wages. During the same period, its net sales rose 17% YoY to ₹35,161 crore. In addition, the company's board has recommended a final dividend of ₹4 per share.
⭐ Thermax wins new order
The energy solutions provider has received a new order worth ₹271 crore from a domestic private oil refiner. The project involves setup of a captive power plant to be used for a new oil-to-chemical (O2C) facility. The project is slated to be completed within a span of 16 months.
Global markets (at 8:15 AM today)
| Indices | Today's movement |
| --
| --
- | --
- |
| SGX Nifty | **▲**0.17% |
| Nikkei 225 (Japan) | ▼ 0.65% |
| Hang Seng (Hong Kong) | **▲**0.72% |
| SSE Composite (China) | **▲**1.34% |
| Dow Jones (US) (May 05) | **▲**1.65% |
| NYSE (US) (May 05) | **▲**1.51% |
| Nasdaq (US) May 05) | **▲**2.25% |
| S&P 500 (US) (May 05) | **▲**1.85% |
Fact of the day
Electronic wearables production in India reaches ₹8,000 crore in FY23.