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LIC's net profit skyrockets

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LIC's net profit skyrockets

Life Insurance Corporation of India (+0.6%) reported a whopping 466% YoY jump in its standalone net profit at ₹13,427 crore for Q4FY23. The insurer's net commission for the quarter was ₹8,428 crore, up 5.4% compared to ₹7,995 crore in the comparable quarter last year. Its board has recommended a final dividend of ₹3 per equity share.

Nykaa’s net profit sinks

FSN E-Commerce Ventures (-2.6%), which owns the popular fashion e-commerce platform Nykaa, reported a consolidated net profit of ₹2.4 crore for Q4FY23, down 71.7% from ₹8.5 crore recorded in the same quarter last year. However, its Q4 consolidated revenue grew 33.7% YoY to ₹1,301.7 crore from ₹9,73.3 crore last year.

Oil India reports profit growth

State-owned oil company Oil India (+0.05%) reported a standalone net profit of ₹1,788 crore for Q4FY23, up 9.6% from ₹1,630 crore in the comparable quarter last year. Its revenue from operations also witnessed a growth of 26% YoY to ₹5,649 crore. The company’s board has recommended a final dividend of ₹5.50 per share.


Global markets (at 7:00 AM today)

Indices Today's movement
SGX Nifty ▼ 0.1%
Nikkei 225 (Japan) 0.5%
Hang Seng (Hong Kong) ▼ 2.0%
SSE Composite (China) 0.6%
Dow Jones (US) (May 23) ▼ -0.7%
NYSE (US) (May 23) ▼ 0.9%
Nasdaq (US) May 23) ▼ 0.6%
S&P 500 (US) (May 23) ▼ -0.7%

Fact of the day

As per ETIG data, automakers in India are expected to pump close to ₹80,000 crore in building EV capacity by 2030.

Source: Economic Times

Categories: Morning Update