Wed, Jan 3, 2024 10:00 AM
Sumitomo may exit Samvardhana Motherson, hires banker for Rs 10,000-cr.
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Dr Reddy’s Laboratories reported better than expected than expected net profit of Rs 1,307 crore for the March quarter of FY24, up 36 percent from the year-ago period. A Moneycontrol poll of eight brokerages pegged the net profit at Rs 1,291 crore. The Hyderabad-based pharma firm reported a profit of Rs 960 crore in the same quarter of the previous year.
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Muthoot Microfin, the microfinance arm of the Muthoot Pappachan Group, will continue to maintain 50% of its portfolio from the southern geographies in the long term. It has added Andhra Pradesh and Telangana to the portfolio. The northern region is currently around 23% of portfolio, east is around 12% and the balance comes from the western parts of the country.
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Walt Disney's streaming entertainment unit posted its first profit on Tuesday, two quarters ahead of schedule, and the media company raised its annual earnings per share outlook as it said turnaround efforts were yielding results. Shares of the company were down 1.4% in premarket trading. Disney now expects adjusted earnings per share to rise by 25% this fiscal year, the company said.
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