Mon, May 6, 2024 3:38 PM
📢 Benchmark indices close marginally lower today; Nifty around 22,450
A Flip by Avya Verma
The combined revenue of the companies that have declared their March-quarter financial results so far has risen 10.6% year-on-year, while net profits have risen 10.1%, a Mint analysis showed. Excluding the companies in the banking, financial services and insurance (BFSI) sectors, the topline grew 4.5%, while profits were down 11.8%.
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In 2023, India's financial landscape underwent some noteworthy changes, particularly in borrowing habits. The retail lending sector experienced substantial shifts, largely driven by the rising demand among young consumers and the expansion of credit to previously underserved areas. These developments are indicative of a broader trend in which consumers are diversifying their borrowing strategies.
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Drug makers Dr Reddy’s Laboratories, Sun Pharma, and Aurobindo Pharma are recalling products in the US market due to manufacturing issues, as per the latest Enforcement Report of the US Food and Drug Administration (USFDA).Dr Reddy’s Laboratories, Inc, based in Princeton, New Jersey, is recalling Javygtor (sapropterin dihydrochloride) Powder for Oral Solution (100mg).
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