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OpenAI continues to be overseen and controlled by nonprofit, Says Sam Altman
Found initially as a nonprofit, OpenAI has been governed by that nonprofit and has had a hybrid structure since 2019, with the for-profit LLC as part of it. To become a PBC guarantees that the company will remain dedicated to its mission alongside the shareholder interests, introducing a balance of profit creation and social good.
Bombay Dyeing's Q4 Profit Nosedives 83%, Revenue Falls by 12%
The business also saw a decline in overall income in the March quarter, at Rs 395.47 crore—12.42% less than Rs 451.58 crore in the corresponding quarter of the previous fiscal. Overall expenses in the quarter stood at Rs 382.78 crore.
SBI Reports Operating Profit of Rs 1.10 Lakh Crore in FY25, NII Increases by 4.43%
The bank's fourth-quarter (Q4) operating profit for FY25 also climbed 8.83% from the previous year, reaching Rs 31,286 crore.
Samsung Reports 21.7% Rise in Q1 Net Profit Driven by Mobile Sales; Chip Performance Lags
In a Wednesday regulatory filing, the Seoul-based tech firm reported a quarterly net profit of 8.22 trillion won ($5.7 billion), compared with 6.75 trillion won last year. The figure was higher than market forecasts, with Yonhap Infomax estimating a more modest estimate of 5.17 trillion won.
IndusInd Bank CEO Kathpalia Resigns Amid Derivatives Accounting Issue
The resignation of Kathpalia follows just two days after the bank's deputy CEO, Arun Khurana, also quit. This is a major setback in the management of the bank, with sources suggesting a larger leadership change and overhaul will be happening in the coming weeks.
Star Health Reports 99.76% Drop in Profit for Q4
The YoY situation is also grim, with a decline of 99.64% in net profit from Rs 142.32 crore in Q4 FY24. The abrupt decline in earnings has had a significant impact on the company's QoQ as well as YoY profitability.
India Cements Reports 3% Revenue Dip, Net Profit at Rs 14.68 Crore
Despite this, the Aditya Birla Group-owned cement company managed to post a consolidated net profit of Rs 14.68 crore in the quarter, a robust recovery from the Rs 60.55 crore net loss in the corresponding quarter of the previous fiscal year.
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