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Quarterly net profit expected to plunge 58% QoQ to Rs 5388.60 crore from Rs 12967.30 crore. Net sales predicted to stay flat sequentially (4% growth), but a 15% YoY decline to Rs 194248.10 crore
Cipla also clocked in its highest ever quarterly revenue for the North America business, driven by strong respiratory season.
In another big blow, Sony is also seeking a termination fee of $90 million citing alleged breaches of the merger co-operation agreement (MCA) by Zee Entertainment.
Last month, Moneycontrol reported that the Ministry of Road Transport and Highways has requested a budgetary allocation of Rs 3.25 lakh crore for FY 2024-25, marking a 25% YoY increase
In 2023, the oil and gas sector faced volatility in international crude oil prices due to geopolitical tensions, supply cuts, and demand concerns. Crude prices fell from $80 per barrel due to subdued demand, then rose to $90 with OPEC+ supply cuts and Middle-East tensions, but ended the year below $80 due to oil oversupply.