Reliance Industries Ltd (RIL), India's biggest company by market capitalisation, reported a 6% drop in consolidated profit in the June quarter from the year earlier on account of a weak oil-to-chemicals (O2C) performance as well as higher finance costs and increased depreciation. Apple is likely to end the year with a record 8-9 million iPhone shipments, compared with 6.7 million in 2022. Sales in the first half of the calendar year have almost doubled to about 4 million from the year-ago period, bucking tepid demand in the overall market, which is expected to be flat or grow marginally this year.

Source: Economic Times July 23, 2023 02:15 UTC