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Healthcare services vertical clocked a revenue of Rs 2,032.07 crore as compared to Rs 1,941.24 crore in the same period last year, while the clinics segment revenue was lower at Rs 293.01 crore as compared to Rs 309 crore in the year-ago quarter, the company said.

Retail consumption rose 123% during the quarter to around Rs 2,190.5 crore, which is at 123% of the pre-Covid period of first quarter of 2019-20. Total consumption in July 2022 rose 133% to Rs 792 crore and strong consumption growth has continued so far in August 2022 as well, the company said.

The Dow Jones Industrial Average rose 215 points, or about 0.7%. The S&P 500 added 0.6%, and the Nasdaq Composite rose 0.7%.

Revenues jumped 26% year-on-year (YoY) to Rs 408 crore during Q1FY23, compared to Rs 323 crore.The earnings before interest, tax, depreciation and ammortization (EBITDA) rose 41% YoY to Rs 72.2 crore. The EBITDA margins improved 180 basis points YoY to 17.7%Overall ARPOB rose 5.9% YoY to Rs. 38,454 in Q1FY2

“If India has to grow, financial services has to grow. If we take 7-8% as the real growth rate and add inflation to it, it would be 12-13% and normally credit grows at least 1.5 times that. So to get any industry or any business where 16% to 18% should be the annual growth rate is a good industry to be in.”

"If we draw a trendline connecting the October 2021 high and subsequent highs, the Nifty50 is now steadily approaching the resistance zone of 17,900-18,000. This is a make or a break range for the Nifty50. If the index fails to move beyond 18,000, we could see a serious decline coming in," said independent analyst Manish Shah.

The earnings rose as the company got USD 112.72 per barrel price for crude oil it sold in the quarter as opposed to USD 67.15 a barrel rate realised in the same period last year. Gas price realisation more than doubled to USD 6.1 per million British thermal unit from USD 1.79.

"A direct outcome of the continued focus on key thrust areas of franchise & MBO expansion, consumer relevant communication, portfolio casualisation and digital footprint expansion was reflected in the quarterly sales reaching a lifetime high," Bata India said its earnings statement.

"Given the slowing global growth and recessionary concerns around the corner we expect earnings cut to continue. However, we believe earnings cut could moderate as the key risks highlighted above are showing signs of moderation," it said.

The Nifty Realty index was trading 1.26 per cent up at 440.3.