This news roundup covers key business updates, including the financial performance of ICICI Bank, Dr Reddy’s Laboratories, and IDFC First Bank for the first quarter of the current financial year. It also highlights a controversy surrounding West Bengal Chief Minister Mamata Banerjee’s walkout from a NITI Aayog meeting.
Dr Reddy’s Laboratories reported a 36% year-over-year increase in net profit for Q4, but the share price dropped 5% today. The company saw a 3% sequential decrease in net profit, and brokerages attributed the strong gross margin and operational performance to Revlimid sales. Analysts project that upcoming R&D costs and a weak US launch pipeline may impact the company’s earnings growth and EBITDA margin in the coming fiscal year.
