Cipla, Glenmark Pharma, Alkem Labs, PNB in focus

Cipla announced the launch of remdesivir under its brand name CIPREMI. The U.S. FDA issued an Emergency Use Authorization (EUA) to Gilead Sciences Inc. for emergency use of remdesivir for the treatment of hospitalized 2019 coronavirus disease (COVID-19) patients. It is the only U.S. FDA approved Emergency Use Authorisation (EUA) treatment for adult and paediatric patients hospitalized with suspected or laboratory confirmed COVID-19 infection. In May, Gilead Sciences Inc. extended a voluntary non-exclusive license to Cipla to manufacture and market Cipla's generic version of remedisvir called CIPREMI.

Glenmark Pharmaceuticals on Friday (19 June) said it received Indian drug regulator's approval to launch the oral antiviral drug, Favipiravir, for treating mild to moderate COVID-19 patients in India. It is for restricted emergency use in India. Restricted use entails responsible medication use where every patient must have signed informed consent before treatment initiation.

Alkem Laboratories on Saturday (20 June) said its board has approved the closure of operations of its manufacturing facility i.e Betalactum Block located at Daman from 19 June 2020. The Betalactum manufacturing facility mainly catered to International Market and was significantly underutilized. The company has explored alternate manufacturing opportunities to cater to demand.

Power Grid Corporation of India reported an 8.2% rise in consolidated net profit to Rs 3313.47 crore on a 6.4% rise in net sales to Rs 10,148.26 crore in Q4 March 2020 over Q4 March 2019.

Unichem Laboratories reported a consolidated net loss of Rs 17.19 crore in Q4 March 2020 compared with net profit of Rs 37.99 crore in Q4 March 2019. Net sales fell 14.6% year-on-year (YoY) to Rs 320.23 crore during the quarter. Profit before tax stood at Rs 0.44 crore in Q4 FY20, down 98.5% from Rs 28.98 crore in Q4 FY19.

Punjab National Bank (PNB) reported a net loss of Rs 697.20 crore in Q4 March 2020, lower than net loss of Rs 4749.64 crore in Q4 March 2019. Total income rose 11.3% year-on-year (YoY) to Rs 16,388.32 crore in Q4 FY20. Pre-tax loss in Q4 FY20 stood at Rs 969.03 crore, lower than pre-tax loss of Rs 7209.93 crore in Q4 FY19.

Balkrishna Industries reported 42.3% rise in consolidated net profit to Rs 264.70 crore on 1.2% rise in revenue from operations to Rs 1372.27 crore in Q4 March 2020 over Q4 March 2019.

Novartis India's net profit dropped 65.3% to Rs 6.78 crore on 15.1% fall in net sales to Rs 93.70 crore in Q4 March 2020 over Q4 March 2019.

LIC Housing Finance's consolidated net profit tanked 39.1% to Rs 424.31 crore on 5.1% rise in total income to Rs 4,903.54 crore in Q4 March 2020 over Q4 March 2019.

The Ramco Cements' consolidated net profit fell 13.2% to Rs 143.08 crore on 9.5% decline in net sales to Rs 1381.74 crore in Q4 March 2020 over Q4 March 2019. Profit before tax (PBT) stood at Rs 185.21 crore in Q4 FY20, down by 24.1% from Rs 243.92 crore in Q4 FY19.

Greenlam Industries' consolidated net profit slipped 8.6% to Rs 21.71 crore on 10% decline in net sales to Rs 324.02 crore in Q4 March 2020 over Q4 March 2019.

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