ITC, Cipla, Biocon in focus

ITC posted a 20% fall in standalone net profit to Rs 3232.40 crore in Q2 September 2020 from Rs 4023 crore reported in Q2 September 2019. Net sales fell 3.81% to Rs 11,098.24 crore in Q2 September 2020 over Q2 September 2019.

Cipla reported 41.2% jump in consolidated net profit to Rs 665.43 crore on 16.6% increase in net sales to Rs 4,972.58 crore in Q2 FY21 over Q2 FY20.

Biocon announced that the board of its subsidiary Biocon Biologics has approved a Rs 1,125 crore (~USD 150 million) capital injection from Goldman Sachs. As per the terms of the proposed agreement, Goldman Sachs will be issued Optionally Convertible Debentures at a post money equity valuation of USD 3.94 Billion.

Divis Laboratories reported 45.6% jump in consolidated net profit to Rs 519.59 crore on a 21% increase in net sales to Rs 1,749.30 crore in Q2 FY21 over Q2 FY20.

Glenmark Pharmaceuticals' consolidated net profit slipped 8.4% to Rs 233.99 crore on 5.2% increase in net sales to Rs 2,908.12 crore in Q2 September 2020 over Q2 September 2019.

Steel Authority of India (SAIL) reported a consolidated net profit of Rs 436.52 crore in Q2 September 2020 as compared to a net loss of Rs 285.92 crore in Q2 September 2019. Total income rose 21.21% to Rs 17,393.86 crore in Q2 September 2020 over Q2 September 2019.

Ashok Leyland reported a consolidated net loss of Rs 122.95 crore in Q2 September 2020 as compared to a net profit of Rs 44.60 crore in Q2 September 2019. Net sales tumbled nearly 24% year on year to Rs 3,835.85 crore in Q2 September 2020 from Rs 5,033 crore posted in Q2 September 2019.

REC's consolidated net profit soared 66.1% to Rs 2,197.14 crore on 15.2% increase in total income to Rs 8,824.34 crore in Q2 September 2020 over Q2 September 2019.

Tata Consumer Products reported 33.1% rise in consolidated net profit to Rs 257.06 crore on 18.5% increase in net sales to Rs 2,781.34 crore in Q2 FY21 over Q2 FY20.

MRF posted a 79.5% jump in consolidated net profit to Rs 410.92 crore in Q2 September 2020 from Rs 229 crore reported in Q2 September 2019. The tyre marker's net sales for Q2 September 2020 grew by 6% to Rs 4,244.43 crore from Rs 4,007 crore in the same period last year.

Balkrishna Industries' consolidated net profit jumped 15.8% to Rs 340.94 crore on 45.5% rise in net sales to Rs 1,577.90 crore in Q2 September 2020 over Q2 September 2019.

Westlife Development reported a consolidated net loss of Rs 27.43 crore in Q2 FY21 compared with net profit of Rs 12.91 crore in Q2 FY20. Total revenues during the July-September quarter declined by 47.1% to Rs 20.95 crore.

Powered by Capital Market - Live News