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Eternal's Q1FY27 Shareholder Letter: Blinkit Drives Growth, Food Delivery Stays Profitable, New Bets in Investment Mode
Eternal's Q1FY27 shareholder letter reveals strong B2C net order value growth, with Blinkit emerging as the primary growth engine and achieving profitability. Food delivery remains a steady profit anchor, while new ventures like Bistro and Nugget are in early investment stages.
IndusInd Bank Reports 72% YoY Net Profit Growth in Q1
IndusInd Bank reported a 72% year-on-year consolidated net profit surge to Rs 1,037 crore in the first quarter, driven by lower provisions and operating expenses. Despite flat Net Interest Income and declining fee income and advances, the bank improved asset quality and capital adequacy.
Amazon Cuts Jobs in Artificial General Intelligence Group
Amazon has reduced roles within its artificial general intelligence (AGI) organization, marking the latest in a series of smaller cuts since January. The company stated the move is to sharpen focus on key initiatives, following recent executive departures and a consolidation of AGI work.
US Tariffs on Generic Drugs Pose Challenge for India's Pharma Industry
US President Trump announced 100-200% tariffs on generic medicines from Aug 2028 unless manufacturing relocates to the US. This poses a significant challenge for India's $30B pharma industry, which supplies 47% of US generic prescriptions, potentially making exports unviable and raising US drug prices.
Pakistan Seeks $10 Billion US Financial Lifeline from Trump Administration
Pakistan has quietly approached the Trump administration for a $10 billion "exchange stabilization facility" to bolster its fragile economy and foreign exchange reserves. The unusual five-year facility, if approved, would strengthen ties with the nuclear-armed nation and provide the US leverage against China's growing influence.
RBI: India's Economy Navigated Tumultuous Global Phase, Credit Growth Robust
The RBI reported that India's domestic economy successfully navigated a tumultuous global phase, showing robust credit growth and a steady external sector. Despite delayed kharif sowing and rising retail inflation driven by food and fuel, healthy demand and resilient industrial and services sectors underpin a buoyant outlook.