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TOP CORPORATE NEWS – 23 JAN 2020

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CORPORATE NEWS

PVR registers higher margins at 33.6% in Q3

For Q3FY20, PVR’s revenue came in at Rs915cr. The company’s EBITDA stood at Rs307.3cr and margins came in at 33.6% for Q3FY20. The company’s PAT for the quarter under review stood at Rs36.3cr.

Canara Bank posts 3.7% yoy growth in PAT for Q3FY20.

Canara Bank is trading higher by ~1%. The bank reported a 3.77% rise in PAT for Q3FY20.

The following are the key highlights:

Total Business up by 5.19% yoy at Rs10,63,450cr
Gross Deposits up by 8.64% yoy at Rs62,5240cr
Gross Advances up by 0.64% yoy at Rs4,38,210cr
Net Profit up by 3.77% to Rs330cr.
Operating Profit stood at Rs2,334cr.
Gross NPA down from 10.25% to 8.36%.
Net NPA down from 6.37% to 5.05%.
Provision Coverage Ratio improved from 62.54% to 70.97%.
CRAR (Basel Ill) improved from 12.21% to 13.86%.

Indoco Remedies posts 75% yoy rise in net profit for Q3.

Indoco Remedies posted revenues of Rs283.4cr during the third quarter of FY20 vs. Rs248.0cr for the same quarter last year, rising 14.3% yoy. For the quarter, the company posted a profit of ~Rs9.3cr vs. Rs5.3cr same quarter last year, up 75% yoy. Commenting on the third quarter results, Aditi Panandikar, Managing Director, Indoeo Remedies Ltd., said, “Durint; the third quarter, India Business continued the growth momentum by clocking a growth of 17%. International business registered a growth of 21% in the third quarter. Considering the planned product launches in US, we expect the growth momentum in International business to continue.”

Alembic Pharma gets USFDA approval for Fenofibrate tablets.

Alembic Pharmaceuticals Limited (Alembic), a vertically integrated research and development pharmaceutical company, today announced that it has received final approval from the US Food & Drug Administration (USFDA) for its Abbreviated New Drug Application (ANDA) Bimatoprost Ophthalmic Solution, 0.03%. The approved ANDA is therapeutically equivalent to the reference listed drug product (RLD) Latisse Ophthalmic Solution, 0.03%, of Allergan, Inc. (Allergan). Bimatoprost Ophthalmic Solution, 0.03% is indicated to treat hypotrichosis of the eyelashes by increasing their growth including length, thickness and darkness.

Ujjivan Small Bank reports 2x yoy growth in Q3 PAT.

Ujjivan Small Finance Bank surged over 4% after the bank reported its Q3FY20 earnings late on Wednesday.
The bank’s Gross Advances stood at Rs13,617cr, a growth of 46% over Q3FY19.
Non-MicroBanking portfolio now contributes 22% to the portfolio against 14% Q3FY19.
GNPA stood at 0.9% and NNPA at 0.4% in Q3FY20 against 1.4% and 0.3%, respectively, in Q3FY19; write-off of Rs12cr in Q3FY20.


Investment & trading in securities market is always subjected to market risks, past performance is not a guarantee of future performance.

CapitalStars Investment Adviser: SEBI Registration Number: INA000001647.

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