Crypto Market Update 📈📉
Are you keeping up with the latest trends in the cryptocurrency market? Here’s a look at what’s been happening recently:
Biocon Ltd Reports A 57% Decrease in Net Profit
Biocon Ltd recently announced a significant decline in its consolidated net profit, dropping by 57% in the fourth quarter. Here are some key highlights from their financial report:
– Revenue from operations increased by 16% year-on-year to Rs 2,947 crore in January-March 2024
– The company’s board recommended a final dividend of Rs 0.5 per share of face value of Rs 5 for the financial year ending March 2024
– EBITDA for the fourth quarter was reported at Rs 916 crore, with margins standing at 23.4%
Board Approvals and Re-Appointments
In addition to the financial results, Biocon Ltd also made some key decisions regarding board approvals and re-appointments:
– Re-appointment of Kiran Mazumdar Shaw as an Executive Director for another 5 years starting April 2025
– Re-appointment of Siddharth Mittal as the MD for 5 years effective December 2024
– Profit after tax more than doubled to Rs 1,022 crore in FY24, compared to Rs 463 crore in the previous fiscal year
Closing Data and Stock Performance
As of the latest closing data, Biocon shares closed nearly 1% lower at Rs 309 on the NSE. Keep an eye on this stock to see how it performs in the coming days!
Hot Take 🔥💡
Stay informed about the latest developments in the cryptocurrency space, as it can have a significant impact on your investment decisions. Make sure to do your research and analyze trends to make informed choices.
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