Sun Pharmaceutical Industries' (Sun Pharma) consolidated net profit fell 75.17% to Rs 365.39 crore on 16.04% decline in total revenue from operations to Rs 6653.23 crore in Q3 December 2017 over Q3 December 2016. The results were announced after market hours yesterday, 14 February 2018.
Sun Pharma's bottom line in Q3 December 2017 was adversely impacted by one-time deferred tax adjustment of Rs 513 crore related to changes in US tax rates.
Dilip Shanghvi, Managing Director, Sun Pharma, said that the company's Q3 performance reflects a gradual improvement in profitability over the first half of this year, despite a challenging US generic pricing environment. Sun Pharma continues to evaluate opportunities in the specialty segment to further enhance this business, he said.
Nestle India's net profit rose 59.58% to Rs 311.83 crore on 10.23% increase in revenue from operations to Rs 2601.46 crore in Q4 December 2017 over Q4 December 2016. The results were announced after market hours yesterday, 14 February 2018.
Jet Airways (India)'s net profit declined 45.9% to Rs 165.25 crore on 10.4% increase in net sales to Rs 6086.20 crore in Q3 December 2017 over Q3 December 2016. The results were announced after market hours yesterday, 14 February 2018.
Yes Bank announced the listing of its debut $600 million bond issue under its maiden $1 billion MTN programme on Global Securities Market (GSM), India's first capital raising platform for international investors in any currency, located at the Gujarat International Finance Tec City (GIFT City) IFSC. The announcement was made after market hours yesterday, 14 February 2018.
Indiabulls Real Estate said that its board considered the recommendations made by the committee for sale of its residential and commercial assets at Chennai, being a non-core market for company's real estate business operations. The board also took on record the resolutions passed by the board of its 100% subsidiaries Navilith Holdings (Cyprus) and M Holdco1 (Mauritius), authorizing execution of non-binding documents with third party institutional investor, for reorganization of its commercial leasing business in India for achieving sustainable long term growth and for further strengthening of their on-going businesses. The said resolutions further authorize the respective companies to share information and endeavor to conclude the transaction before 31 March 2018, subject to necessary approvals & to take all necessary steps, as may be required. The announcement was made after market hours yesterday, 14 February 2018.
Zensar Technologies said that it has won the mandate for providing JD Edwards 9.2 implementation for Africa's leading specialty chemicals conglomerate, SynChem. The project involves integrating three of its holding companies into one single ERP framework, to bring in seamless operational excellence. Zensar will be managing the implementation across the key functional areas of finance, manufacturing, supply chain and asset maintenance. The announcement was made at the fag end of market hours yesterday, 14 February 2018.
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