Thu, Feb 1, 2024 11:04 AM
Foreign investors' profit-booking drags net FDI down 36%
A Flip by Shubhangi Gupta
IRB Infrastructure Developers reported a 9.1% year-on-year decline in revenue to ₹1,586 crore in Q2 FY25, but consolidated net profit rose 4.3% to ₹99.8 crore due to higher operating margins, with EBITDA margins improving to 48.3%. The company declared a second interim dividend of ₹0.10 per equity share.
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Karnataka relies heavily on liquor taxes, expected to contribute 20.3% of its tax revenue in FY25, making it one of the top five states dependent on liquor revenues. The state's dependence on liquor taxes has remained steady over two decades, but its contribution to the overall budget has fallen, highlighting the need to curb liquor imports to address fiscal deficit concerns.
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Eli Lilly (LLY) missed Wall Street's revenue expectations in third quarter earnings released Wednesday morning, sending shares down as much as 10% in premarket trading. The drugmaker also slashed its profit guidance and the high end of its revenue outlook for the year. The company reported revenue of $11.4 billion, falling short of Wall Street estimates of $12.17 billion.
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