Good morning!
Here are the top stories to start your day.
⭐ IRCTC’s net profit rises
IRCTC (+3.5%) reported a net profit of ₹278.7 crore for Q4FY23, up 30.4% from ₹213.7 crore reported in the same quarter last year. The company's revenue from operations increased 39.6% to ₹965 crore in the same period, compared to ₹690.9 crore in the same quarter last year. The company’s board has recommended a dividend of ₹2 per share.
⭐ Torrent Power posts a profit
Torrent Power (+0.5%) reported a ₹483.9 crore consolidated profit in Q4FY23 compared to a ₹487.3 crore loss in the same quarter last year. Its revenue from operations grew 61% YoY to ₹6,037 crore in Q4 from ₹3,743 crore in the comparable quarter last year. Its board has recommended final dividend of ₹4 per equity share.
⭐ Suprajit Engineering’s profit drops
Automotive cable and halogen bulb maker Suprajit Engineering (-1.4%) reported a profit of ₹41 crore for Q4FY23, down 15.6% from ₹48.6 crore in the same quarter last year. However, during the same period the company’s revenue from operations grew by 38.1% YoY to ₹699 crore from ₹505.9 crore. The company’s board has recommended a final dividend of ₹1.25 per share.
Global markets (at 8:30 AM today)
| Indices | Today's movement |
| SGX Nifty | ▲ 0.06 % |
| Nikkei 225 (Japan) | ▼ 0.3% |
| Hang Seng (Hong Kong) | ▼ 0.5% |
| SSE Composite (China) | ▼ 0.1% |
| Dow Jones (US) (May 27) | ▲ 1.0 % |
| NYSE (US) (May 27) | ▲ 0.6% |
| Nasdaq (US) May 27) | ▲ 2.1% |
| S&P 500 (US) (May 27) | ▲ 1.3% |
Fact of the day
Govt data indicated FDI equity inflow contracts 22% to $46 billion in FY23
Source: Business Standard