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Infosys in focus on declaring Q3 December 2019 results

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Infosys, after market hours on Friday, announced its Q3 results. On a consolidated basis, net profit rose 10.9% to Rs 4,457 crore on 2% increase in revenues to Rs 23,092 crore in Q3 December 2019 over Q2 September 2019. The Q3 numbers are as per International Financial Reporting Standards (IFRS). Operating margin was 21.9% in Q3 December 2019 as against 21.7% in Q2 September 2019. The company increased FY20 revenue guidance. The revised guidance is 10.0%-10.5% in constant currency higher than 9-10% estimated earlier. It maintained FY20 operating margin guidance range of 21%-23%.

Avenue Supermarts, on Saturday, reported 55.32% rise in consolidated net profit to Rs 384.04 crore on 24.31% rise in total income to Rs 6815.00 crore in Q3 December 2019 over Q3 December 2018. The company added seven stores in Q3 and 20 stores during the 9 months.

Torrent Power informed that CRISIL has upgraded the long term credit rating of non-convertible debentures and long term bank facilities of the company to CRISIL AA/Stable from CRISIL AA-/Stable. CRISIL has reaffirmed its rating on the short-term bank facilities and commercial paper at CRISIL A1+. CRISIL believes Torrent Power will maintain its strong business risk profile, driven by stable cash flows from its regulated businesses over the medium term. Also, financial risk profile expected to remain healthy.

Tata Steel said that Tata Steel Netherlands Holdings B.V. (TSNHBV), a 100% subsidiary of Tata Steel, has executed agreements for the refinancing of its bank debt. TSNBHV has raised term loan facilities of EUR 1.75 billion from 19 banks. This represents a reduction of EUR 500 million versus the external debt outstanding in Tata Steel Europe as of March 2019, enabling the standalone European business to have a more robust balance sheet while it is also putting in significant efforts at restructuring and improving its operating performance.

Yes Bank said the Board of Directors of the Bank, have approved raising of funds upto Rs 10,000 crore through a mix of equity and debt and decided not to proceed with the offer from Erwin Singh Braich-SPGP Holdings. The bank will hold extra-ordinary general meeting to obtain shareholders' approval for fund raising.

Lupin said the completion of a PAI (Prior Approval Inspection) carried out by the United States Food and Drug Administration (US FDA) at its Nagpur oral solid dosage manufacturing facility. The inspection was carried out between 6 January 2020 and 10 January 2020. The inspection closed with two 483 observations.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, January 13 2020. 08:27 IST