MakeMyTrip posted a Q3 FY25 profit of $27M, up from $24M last year, with revenues rising 26.2% to $267.4M. Strong growth in gross bookings, international outbound, and operating profit drove performance.
CNN expects to lay off about 200 people as part of a restructuring announced on Thursday that pivots the news organization toward a more digitally oriented future.
Indian companies with strong cash flows and credit profiles will remain resilient despite the rupee's 5% decline against the US dollar in the last two years, according to Moody's. Only six out of 23 rated firms may face risks, but they possess mitigating factors like government ties, natural hedges, and active debt management to offset the impact.
Associated Alcohols and Breweries (AABL) outperformed market volatility, gaining 27% in three months. The companys focus on premium products, expanded proprietary brands, and new markets supports analysts forecast of 26% revenue and 40% profit growth by FY27.
Spandana Sphoorty Financial posted a 440 crore net loss in Q3 FY24, its second consecutive quarterly loss, driven by 626 crore bad loan write-offs and higher provisions. Regulatory exemptions and lender discussions continue amid covenant breaches.
Hardik Matalia of Choice Broking warns that if the Nifty breaks below the crucial 23,000 support level, it could fall further to 22,500. To negate the current bearish sentiment, the index needs a decisive close above 23,500. Key resistance levels to watch are 23,300 and 23,500.
