HCL Tech Q1FY22 result
- Net profit of Rs 3,205 Cr, 9.35% up 🔼 YoY
- Total income of Rs 20,323 Cr against Rs 18,137 Cr last year
- Reported an EPS of Rs 11.81
- Total expense of Rs 16,223 Cr against Rs 14,275 Cr a year back
- Net profit of Rs 3,205 Cr, 9.35% up 🔼 YoY
- Total income of Rs 20,323 Cr against Rs 18,137 Cr last year
- Reported an EPS of Rs 11.81
- Total expense of Rs 16,223 Cr against Rs 14,275 Cr a year back
*At the root of this economic catastrophe is a bizarre overnight flip by Rajapaksa’s government on 29 April to ban the import of chemical fertilisers and any other agrochemicals to make the Indian Ocean nation the first in the world to practice organic-only agriculture.*
The result: prices of daily food items like sugar, rice and onions have soared over twice, with sugar even touching record Rs 200/kg; kerosene oil and cooking gas prices are surging; tea crops are predicted to fail in October; and there are fears over a hit to production of other crucial export crops like cinnamon, pepper, rubber, cardamom, cloves, nutmeg, betel leaves, cocoa, and vanilla.
https://theprint.in/world/how-sri-lankas-overnight-flip-to-total-organic-farming-has-led-to-an-economic-disaster/728414/
The result: prices of daily food items like sugar, rice and onions have soared over twice, with sugar even touching record Rs 200/kg; kerosene oil and cooking gas prices are surging; tea crops are predicted to fail in October; and there are fears over a hit to production of other crucial export crops like cinnamon, pepper, rubber, cardamom, cloves, nutmeg, betel leaves, cocoa, and vanilla.
https://theprint.in/world/how-sri-lankas-overnight-flip-to-total-organic-farming-has-led-to-an-economic-disaster/728414/
ThePrint
How Sri Lanka’s overnight flip to total organic farming has led to an economic disaster
President Gotabaya Rajapaksa was forced to impose an economic emergency on 31 August to contain soaring food inflation, and currency devaluation and forex reserves crisis.