Wed, Jan 3, 2024 4:14 PM
Why this Chennai-based company has given a 33% stake to its employees
A Flip by Avya Verma
Britannia Industries announced their Q4 results on 03 May, 2024, reporting a 1.15% increase in revenue year-over-year. However, the company saw a 3.65% decrease in profit compared to the same quarter last year. Quarterly, the revenue declined by 4.39% and the profit decreased by 3.25%. Operating income was down by 4.4% quarter-over-quarter and decreased by 3.81% year-over-year.
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Billionaire investor Warren Buffett sought to turn attention from the rising US debt to the fiscal deficit, which he said could be a trouble area, since it is not in control of the Fed chair Jerome Powell. “I don’t worry about the quantity of debt, I worry about the fiscal deficit,” Warren Buffett said at Berkshire Hathaway’s annual shareholder meeting in Omaha.
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Kotak Mahindra Bank showcased robust profit and net interest income (NII) figures for Q4FY24, yet faced margin challenges due to escalating cost of funds. During the post-earnings analyst call, the management indicated that it expects cost of funds to stabilise gradually in the coming quarters, subjected to external rate movements.
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