Tata Consumer profit rises

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⭐ Tata Consumer profit rises

In the December quarter, the consumer product company’s net profit rose 26% YoY to ₹364 crore. In the same period, the revenue also increased by 8% to ₹3,475 crore. The management said that the strong growth in the domestic business was partly offset by lower profits in the international business due to inflationary pressures and weakness in currency. 

⭐ Dabur revenue above ₹3,000 crore-mark 

The fast moving consumer goods company’s revenue rose 3.4% YoY to ₹3,043 crore. However, the net profit dropped by 5% to ₹476 crore. The margins were reportedly impacted due to inflationary pressure and currency fluctuation. The management said that the demand slump in rural areas has bottomed out as it is now seeing some green shoots of revival.  

⭐ Berger Paints’ subdued Q3 results 

The paint maker’s net profit declined by 20% YoY to ₹201 crore in the December quarter. The profitability was impacted by lower sales of Exterior Emulsions due to extended monsoon. Meanwhile, the management said that the product mix is likely to improve in the coming quarters, supported by increased sale of exterior coatings. 

Global markets (at 9:00 AM today)

Fact of the day

Invented in 1983, the first mobile phone was the Motorola DynaTAC 8000X, which could store only 30 contacts and weighed 1.1kg. It was priced at $3,995 

Source: Medium