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Operating profit, calculated as earnings before interest and tax, depreciation and amortization (EBITDA), declined 12.4% on-year to Rs 368 crore, while margin contracted a sharp 205 basis points to 4.64%

Now, till it holds below 18,018 zones, bounce could be sold for the down side move towards 17,850 and 17,777 zones whereas hurdles are placed at 18,018 and 18,081 zones, said Chandan Taparia of Motial Oswal.

Operating expenses in the quarter rose nearly 3% to $557 million from a year earlier, as the company spent more on employees and business-related expenses.

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VG Siddhartha, who was the Chairman of the Coffee Day Group, had reportedly committed suicide in July 2019. It was reported that he had left behind a suicide note addressed to the board of directors and Coffee Day family wherein he revealed that he was in deep debt.

The Nifty IT index closed 0.9 per cent down at 30043.9.

TVS Motors registered total two-wheeler sales of 8.36 lakh units in December 2022 quarter against 8.35 lakh units in the year-ago quarter. Two-wheeler export sales were registered at 2.07 lakh units against 2.53 lakh units in December 2021.

The EBITDA was the highest ever, surpassing the record set in the previous quarter, the company said in a release. The strong growth in the EBITDA and profitability was led by judicious pricing, better dollar realisation and a richer product mix, it said.

The company had reported a net profit of Rs 295 crore in October-December period last fiscal year. Total income declined to Rs 6,631 crore in the period under review as against Rs 8,917 crore in the year-ago quarter, the company said.