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corporate news (2)


Alembic Pharma’s net profit surges 38% yoy in Q3FY20.

Alembic Pharmaceuticals Limited reported its consolidated financial results for the quarter ending December 31, 2019. The pharma company’s revenue for the quarter was up 19% yoy at Rs1,209cr from Rs1,018cr. Net Profit for the quarter up 38% yoy to Rs234cr from Rs170cr. International formulations grew 48% yoy to Rs664cr in the quarter. US Generics grew 61% yoy to Rs515cr in the quarter. Ex-US Sales grew 15% yoy to Rs149cr in the quarter. 8 ANDA approvals were received during the quarter and the total tally stand at 110. 6 ANDA filings were made during the quarter with cumulative ANDA filings standing at 176.

Asian Paints’ PAT rises 20% at Rs780cr in Q3FY20.

Asian Paints Ltd registered higher net profit at Rs764cr, up by 20% yoy in the third quarter ended December 31, 2019 as against Rs636cr during the quarter ended December 31, 2018. The company revenue rose 3% to Rs5,420cr in Q3FY20 vs. Rs5,263cr Q3FY19. EBITDA for Q3FY20 came in at Rs1,189.4cr vs. Rs1,104.4cr in Q3FY19, up 7.7% yoy. Margins stood ar 21.9% vs. 21% in the corresponding quarter previous year, higher by 90bps yoy.

IndiaMART InterMESH reports PAT of Rs62cr yoy.

IndiaMART InterMESH on Tuesday reported a consolidated net profit for the quarter was at Rs62cr post deferred tax credit of Rs22.90cr in Q3FY20. Total revenue from operations came in at Rs165cr, 23% growth yoy, primarily due to an increase in the number of paying subscribers as well as a higher realization from existing customers.

Havells India slips after muted Q3FY20 results.

Shares of Havells India slipped 1% in the morning trade on the BSE. The company posted a 2.8% growth in net profit to Rs201cr in the quarter ended December 2019, as against Rs195.7cr in the corresponding quarter last year. Net sales of the company fell by 10% yoy to Rs2,273cr in Q3FY20 vs. Q3FY19. Anil Rai Gupta, Chairman and Managing Director, said that the slowdown in industrial products impacted the company’s sales while the consumer segment remained stable.

Govt approves up to 100% FDI limit in Bharti Airtel.

Bharti Airtel Limited has received the approval from the Department of Telecommunications (DoT) for increasing the limit of foreign investment up to 100% of the paid-up capital of the company. The aforesaid approval, along with the RBI approval dated July 03, 2014, granted to the company allows the FPls/Flls to invest up to 74% of the paid-up capital of the company, the company said in the press note.

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