Contrary to expectations of a double-digit increase, net profit at the maker of Dove soaps and Red Label teas climbed at a modest 8%. The operating profit margin was 23.6%, rising 40 basis points over the year-ago level.
Governor Malhotra praised US Fed Chair Jerome Powell’s efforts to uphold the central bank’s independence amidst political pressure. Malhotra highlighted Powell’s commitment to this principle,
“We have been witnessing record activity among brokers and other distribution intermediaries,” said Satyajit Tripathy, member (distribution), IRDAI, at an Insurance Brokers Association of India
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