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TOP CORPORATE NEWS- 15 May 2019

corporate news (2)

Zee Media declines 11% post Q4FY19 results
Zee Media declined 11% on Wednesday after the company registered a net loss of Rs86.66cr vs PAT of Rs11.2cr a year ago.
The revenue of Zee Media tumbled 3.9% in the January-March quarter at Rs169.35cr, compared to Rs176.22cr in Q4FY18, the company said in a press note after markets hours to the exchanges on Tuesday.The company PAT stood at Rs13.17cr for FY19, which is down 73.1% yoy vs. Rs49cr. Consolidated operating revenue in FY19 grew by 19.8% to Rs686.92cr from Rs573.48cr in the FY18.

Karur Vysya Bank Q4FY19 PAT at Rs60cr
Karur Vysya Bank Q4FY19 net profit was up by 18.7% at Rs60cr against Rs50.6cr during the previous quarter ended March 2018. The bank other income was up at Rs272.4cr in Q4FY19 vs. Rs208.6cr in Q3.The net interest income (NII) of the bank was down 3.7% at Rs619.2cr vs. Rs643cr on the yoy basis.The gross NPA stood at 8.79% vs. 8.49% on a qoq basis, while net NPA at 4.98% vs. 4.99%, qoq.

Dr Reddy launches Daptomycin for Injection in the US
Dr. Reddy Laboratories in its filing to the exchanges on Wednesday informed that the company has launched Daptomycin for Injection, 500mg/vial single-dose vial, a therapeutic equivalent generic version of Cubicin for Injection, approved by the US Food and Drug Administration (USFDA).The Cubicin for Injection (daptomycin for injection) brand and generic had US sales of ~$640.8mn MAT for the most recent twelve months ending in March 2019, according to IQVIA Health.

UCO Bank slips ~4% after Q4 net loss
Shares of UCO Bank slipped 3% in Wednesday’s late morning trade on the BSE after the bank posted a net loss of Rs1,552cr in the quarter ended March 2019 as against a net loss of Rs2,134.36cr during the previous quarter ended March 2018.The provisions for non-performing assets (NPAs) in the last quarter stood at Rs2,602cr as against Rs3,134cr in the same period of FY18.For the full year, net loss reported to Rs4,321.09cr in the year ended March 2019 as against a net loss of Rs4,436.37cr during the previous year ended March 2018.

Orchid Pharma gets ANDA nod from USFDA for Risedronate Sodium tablets
Orchid Pharma has received ANDA approval from USFDA for Risedronate Sodium Tablets USP, 30 mg and 35 mg, the company said in the filing. The announcement made on May 14, after market hours.Risedronate sodium tablets are a bisphosphonate indicated for the treatment and prevention of Osteoporosis, the company said.Orchid Pharma Ltd is currently trading at Rs4.02, up by Rs0.19 or 4.96% from its previous closing of Rs3.83 on the BSE. The scrip opened at Rs4 and has touched a high and low of Rs4.02 and Rs4 respectively.

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