IRCTC in focus on declaring Q3 December 2019 results

Indian Railway Catering & Tourism Corporation reported 179.62% jump in net profit to Rs 205.80 crore on 61.92% rise in total income to Rs 734.98 crore in Q3 December 2019 over Q3 December 2018. The company declared an interim dividend at the rate of Rs 10 per share, which is 100% of paid up share capital.

Ashok Leyland reported 93.29% fall in consolidated net profit to Rs 26.79 crore on 30.64% fall in total income to Rs 5,209.00 crore in Q3 December 2019 over Q3 December 2018. The industry witnessed 39% decline in volumes. Ashok Leyland also witnessed a volume drop during the quarter.

Torrent Power reported 76.99% jump in consolidated net profit to Rs 419.39 crore on 5.79% fall in total income to Rs 3,115.48 crore in Q3 December 2019 over Q3 December 2018. Sales grew The board approved interim dividend of Rs 11.60 per equity share, which includes a special dividend of Rs 5.00 per equity share, with a view to distribute a part of the one-time tax gain arising from reduction in tax rates.

PNC Infratech said that the company bagged a hybrid annuity highway project worth Rs 2,052 crore in Uttar Pradesh. The project is to be constructed in 30 months and operated for 15 years post construction. This is the ninth hybrid annuity highway project secured by the company so far.

Yes Bank informed that in the effort to raise capital the bank has received non-binding expressions of interest from several prominent investors like J.C. Flowers & Co. LLC; Tilden Park Capital Management LP; OHA (UK) LLP (part of Oak Hill Advisors); Silver Point Capital. The Bank is currently in discussions with these investors on the commercial terms, including pricing. The bank also said the process of fundraising will delay the announcement of its earnings for the December quarter to on or before 14 March 2020.

Aurobindo Pharma informed that it has completed the acquisition of some business assets of Profectus BioSciences Inc, a clinical-stage vaccine development company of Auro Vaccines LLC. Auro vaccines is a 100% subsidiary of Aurobindo Pharma USA Inc, which is an arm of the Indian pharmaceutical company.

General Insurance Corporation of India informed that that the Corporation has obtained license from the Central Bank of the Russian Federation (Bank of Russia) for its subsidiary company GIC Perestrakhovanie LLC, Moscow for commencement of reinsurance business. The license was received on 12 February 2020.

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