Macrotech Developers, popularly known for its Lodha brand, reported an 11% decline in consolidated net profit for the March quarter, with a profit of ₹665.5 crore. Nonetheless, the company’s net profit for the entire fiscal year 2022-23 witnessed a substantial threefold increase, reaching ₹1,549.1 crore. In the fourth quarter of 2022-23, Macrotech’s net profit was ₹744.4 crore, while for the entire fiscal, it stood at ₹486.7 crore.
Reliance Industries, India’s largest conglomerate, reported a fourth-quarter profit above analysts’ estimates, boosted primarily by its oil-to-chemicals (O2C) business.
The company’s consolidated profit fell slightly by 2% year-over-year to 189.51 billion Indian rupees ($2.27 billion), but it exceeded market expectations of 185.22 billion rupees.
Reliance reported a revenue growth of 11.6% to 2.41 trillion rupees, with the O2C segment driving this growth due to improved fuel prices and increased volumes.
