DRL net rises to ₹709 cr. as impairment declines
The Hindu
Improved sales helps lift Q3 profit
Pharma major Dr. Reddy’s Laboratories reported consolidated net profit surged to ₹709.3 crore in the December quarter on improved sales in mainstay generics and a sharp decline in impairment charges compared with a year earlier.
Profit was ₹27.9 crore in the year-earlier quarter, when the impairment loss was almost ₹600 crore. Net sales rose to ₹5,103.1 crore (₹4,710.9 crore), as per the results prepared under Indian Accounting Standards.
Total income increased to ₹5,394.1 crore from ₹5,012.4 crore a year earlier. The impairment charge for the quarter was ₹4.7 crore. Net profit and total income, however, were lower on a sequential basis, with the drugmaker having posted ₹995.8 crore and ₹5,992.4 crore, respectively, for the September quarter.
Two Indian-flagged LPG tankers approach the Strait of Hormuz, navigating safely amidst regional tensions to reach Indian ports.
Gold and silver prices plummet over 7% due to West Asia tensions, inflation fears, and a stronger dollar.
Asian shares fall as rising oil prices and escalating Iran conflict diminish hopes for U.S. interest rate cuts.
Japan's SoftBank Group said Saturday it plans to build a huge new gas-fired power plant in the US state of Ohio
Silver prices plunge 9% to ₹2.06 lakh per kg in futures trade amid weak global cues and rising macroeconomic pressures.
OpenAI plans to nearly double its workforce to 8,000 from 4,500 by the end of 2026, the Financial Times reported on Saturday, citing two people with knowledge
Global equity markets plummet as West Asia tensions rise and oil prices surge, triggering significant investor anxiety.
The rupee hits a record low of 93.94 against the dollar amid foreign fund outflows and a crashing equity market.
The Thane police have arrested two co-founders of cryptocurrency exchange platform CoinDCX in connection with an alleged fraud of Rs 71.6 lakh, officials said
Meta Chief Executive Mark Zuckerberg is building a CEO agent to help him do his job, the Wall Street Journal reported
Insurance penetration and density are often misunderstood and do not reveal how many families are insured or whether they would be financially secure if the main earning member were to die. The real issue is not reach but adequacy, as households may have life insurance but not enough cover to replace lost income, leaving them financially vulnerable.
Five top firms lose ₹1 lakh crore in market value, with HDFC Bank experiencing the largest decline of ₹56,124.48 crore.
L&T confirms 95% of its West Asia project sites are safe, while addressing logistics challenges amid ongoing regional conflicts.