Devyani International’s Profit Falls 20% YoY to Rs 61cr in Q4 - Top Indian Market Updates

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Devyani International Q4 Results: Net profit falls 20% YoY to Rs 61 crore

Devyani International reported a 20% YoY decline in net profit to Rs 61 crore in Q4 FY23. Its revenue jumped 28% YoY to Rs 755 crore during the same quarter. EBITDA stood at Rs 155 crore, up 11% YoY in Q4FY23. Devyani International operates 543 KFC stores, 510 Pizza Hut stores, and 112 Costa Coffee stores across its portfolio

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L&T Construction wins orders in Mumbai and Bengaluru

Larsen & Toubro (L&T) has secured significant orders (in the range of Rs 1,000 crore to Rs 2,500 crore) for a residential project in Thane, Maharashtra, and a commercial project in Bengaluru. The Thane project involves constructing five residential towers. The Bengaluru project involves a contract to build 16 lakh square feet of commercial office space, which is to be completed in 18 months.

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Jubilant Foodworks Q4 Results: Net profit falls 59% YoY to Rs 47.5 crore

Jubilant Foodworks reported a 59% YoY fall in standalone net profit to Rs 47.5 crore in Q4FY23. Its operating revenue jumped 8% YoY to Rs 1,252 crore during the same quarter. EBITDA stood at Rs 252 crore, down 13% YoY in Q4FY23. The company’s board has recommended a final dividend of Rs 1.2 per equity share.

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BPCL to invest Rs 52,731 crore in expanding capacities

BPCL's board has approved the ethylene cracker project at Bina Refinery, which includes the expansion of the refinery and downstream petrochemical plants. The project will require an estimated capital expenditure of nearly Rs 49,000 crore. This involves establishing an Ethylene Cracker Complex, expanding the refinery capacity from 7.8 million metric tonnes per annum (MMTPA) to 11 MMTPA, and developing associated facilities at Bina Refinery.

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JK Tyre Q4 Results: Net profit jumps 171% YoY to Rs 108.4 crore

JK Tyre & Industries Ltd reported a 171% YoY increase in net profit to Rs 108.4 crore in Q4FY23. Its operating revenue jumped 9.7% YoY to Rs 3,632 crore during the same quarter. EBITDA stood at Rs 376 crore, up 65% YoY in Q4FY23. The company’s board has recommended a final dividend of Rs 2 per equity share.

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Suzlon bags 99-MW wind energy project from Vibrant Energy

Suzlon has won a 99-MW wind energy project by Vibrant Energy. The project will feature 33 wind turbine generators from Suzlon's new 3 MW series, utilizing Hybrid Lattice Tubular towers. The project is expected to be commissioned by FY25. The order value was not disclosed.

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Jindal Stainless Q4 Results: Net Profit falls 13% YoY to Rs 765 crore

Jindal Stainless reported a 13% YoY fall in consolidated net profit to Rs 765.8 crore in Q4FY23. Its total revenue increased by 0.4% YoY to Rs 9,765 crore during the same quarter. EBITDA stood at Rs 1,144 crore, up 19% YoY in Q4FY23. The company’s board has declared a final dividend of Rs 1.5 per equity share.

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Zydus Lifesciences gets final USFDA approval for hypotension injection

Zydus Lifesciences has received final approval from the US Food & Drug Administration (USFDA) to produce and market Ephedrine Sulfate Injection USP. The injection is utilized to treat hypotension during anesthesia. The drug will be manufactured at its facility in Jarod, near Vadodara. The annual sales of Ephedrine Sulfate Injection in the US amount to $52 million.

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