Page 44 - Companies

Natco Pharma's net profit rises 31.2% to Rs 420.3 cr in June quarter

Natco Pharma Ltd on Wednesday reported a 31.2 per cent rise in consolidated net profit at Rs 420.3 crore in the first quarter ended June 30, 2023. The company had posted a consolidated net profit of Rs 320.4 crore in the same period last fiscal, Natco Pharma said in a regulatory filing. Consolidated revenue from operations during the quarter under review stood at Rs 1,140.5 crore as against Rs 884.6 crore in the year-ago period, it added. Total expenses were higher at Rs 660.2 crore as compared to Rs 533.1 crore a year ago. The major drivers of business during the June quarter were formulation exports, strong growth in domestic business of both pharma and agro, and steady sales from subsidiaries, the company said. Exports of formulations clocked Rs 884.2 crore in the April-June quarter from Rs 736.9 crore a year ago, while domestic formulations registered Rs 132.4 crore, up from Rs 88.5 crore last year, it added. The active pharmaceutical ingredients segment posted Rs 75.1 crore,

Bajaj Consumer Care Apr-June quarter net profit rises 36.37% to Rs 46.22 cr

Bajaj Consumer Care Ltd on Wednesday reported a 36.37 per cent rise in consolidated net profit to Rs 46.22 crore for the first quarter ended June 30. The company had posted a consolidated net profit of Rs 33.89 crore in the same quarter of the last fiscal, Bajaj Consumer Care Ltd (BCCL) said in a regulatory filing. Its consolidated revenue from operations during the quarter under review stood at Rs 265.68 crore against Rs 246.51 crore in the year-ago period, it added. The total expenses during the quarter were higher at Rs 224.93 crore compared to Rs 215.23 crore a year ago. The company said its flagship hair oil brand Almond Drops registered growth of 9 per cent, which was distributed across packs in Q1, while the coconut and amla portfolio continued to scale up as planned with an increase in market share. International business on a consolidated basis grew by 42 per cent year-on-year, the company added.

Gaming unicorn MPL lays off 350 employees, revisits office infra costs

The move comes at a time when the GST Council has recommended imposing a 28 per cent tax on full deposit value, with no distinction made between games of skill and chance

2 senior execs of Freshworks quit after co-founder's exit in March

Company says new chief human resource officer will start work later in August and it looking for a chief marketing officer

TCS bags contract to redesign, build new version of govt's GeM portal

IT major Tata Consultancy Services on Tuesday said it has bagged a contract from the government to redesign and build a new version of public procurement platform Government e-Marketplace (GeM). The GeM platform provides an end-to-end online marketplace for the central and state government bodies, including public sector undertakings, for procurement of common-use goods and services in a transparent and efficient manner. GeM CEO P K Singh said in its next avatar, GeM is envisioned to be an all-inclusive platform for government procurement, offering improved ease of doing business and transparency. "With TCS as our system integration partner, we are assured of architecting the new GeM with unmatched experience, rigour, and passion to develop a world-class solution," Singh said. The Gross Merchandise Value (GMV) of GeM is over Rs 2 lakh crore purchased by 70,000 buyer organisations from more than 65 lakh sellers and service providers, including over 8 lakh medium and small enterprise

TCS to revamp Government e-Marketplace, enhance efficiency, transparency

GeM acts as an end-to-end online marketplace for central, state govt bodies, including PSUs

Subhash Chandra to settle JC Flowers' debt to reclaim Dish TV: Report

Chandra will also get back three properties, one of which is a bungalow in central Delhi

Paytm founder set to acquire 10.3 per cent stake in the company from Antfin

The no-cash deal will make Sharma the largest shareholder in the company

NSE, BSE clarify on ODR platform rollout; say due process followed

Leading stock exchanges BSE and NSE on Monday said that due process has been followed in rolling out the Online Dispute Resolution (ODR) platform. A joint statement came after certain reports in the media raised issues relating to the Online Dispute Resolution mechanism rolled out recently in the securities market. Clarifying the process adopted in the implementation of the ODR mechanism, the exchanges said that MIIs (market infrastructure institutions) followed the due process for the selection of vendors, which included formulating the scope for development of the ODR Portal, seeking proposals from multiple entities and final selection based on technical and commercial dimensions. The exchanges, further, said that capital markets regulator Sebi did not play any role in this process of vendor selection. A working group was formed comprising exchanges, depositories, ODR institutions, and Agami, a non-profit company, to formulate and operationalise the ODR mechanism following the .

PB Fintech's net loss narrows to $1.4 mn in Q1 on loan, insurance demand

Revenue from operations rose 31.8% to 6.66 billion rupees, with revenue from Policybazaar and Paisabazaar, its core online business, growing 39% to 5.16 billion rupees

Poonawalla group appoints Keki Mistry as strategic advisor for fin services

At present, the Pune-based group has one non-banking finance company (NBFC) and a clutch of investments in financial services companies

SBI beats Reliance Industries to become India's most profitable company

RIL was last surpassed in the profit rankings by IOC during the TTM ended June 2013

RIL pushes production timeline for battery packs by a year to 2024

According to Faradion's website, the now wholly-owned subsidiary of RIL installed its first sodium-ion battery in Australia in December 2022

Gland Pharma posts 41% jump in quarterly revenue on Cenexi acquisition

Indian generic injectables maker Gland Pharma Ltd reported a 41% jump in first-quarter revenue on Monday

Sobha's net profit rose to $1.46 mn on strong demand for houses in Q1

Indian real estate developer Sobha Ltd said its June quarter profit more-than-doubled as demand in the country stayed resilient, with more people booking flats and houses in big cities and towns

Tata Chemicals posts drop in June quarter profit on lower prices, volumes

India's Tata Chemicals Ltd posted a 9.7% fall in first-quarter profit on Monday, hurt by a fall in soda ash prices and lower volumes

Torrent Pharma's net profit rises 7% at Rs 378 crore in April-June quarter

Torrent Pharma on Monday reported a 7 per cent increase in its profit after tax to Rs 378 crore for the June quarter. The company had reported a profit after tax (PAT) of Rs 354 crore in the year-ago quarter. Revenue for the first quarter of the current fiscal rose to Rs 2,591 crore as against Rs 2,347 crore in the year-ago period, Torrent Pharma said in a statement. The drug firm said its domestic revenue grew 14.5 per cent year-on-year to Rs 1,426 crore during the quarter. The company said its revenue also went up in Brazil and Germany by 3 per cent and 21 per cent, respectively. Revenue in the US market, however, declined by 2 per cent to Rs 293 crore, it added. Torrent Pharma shares ended 0.49 per cent down at Rs 2,051.50 apiece on the BSE.

Keystone Realtors net profit jumps over 9-fold to Rs 46.97 crore in Q1

Realty firm Keystone Realtors Ltd on Monday reported an over 9-fold jump in its consolidated net profit at Rs 46.97 crore for the June quarter on higher income. Its net profit stood at Rs 4.97 crore in the year-ago period. Total income increased to Rs 282.82 crore during the April-June period of 2023-24 fiscal from Rs 176 crore in the corresponding period of the previous year, according to a regulatory filing. Keystone Realtors markets its properties under 'Rustomjee' brand. Boman Irani, Chairman and Managing Director of Keystone Realtors, said the company has recorded pre-sales of Rs 500 crore during the first quarter of this fiscal, signifying growth of 106 per cent year-on-year. "We have further strengthened our strategy of executing through our asset light expansion model with the successful addition of 3 new projects in prominent locations like Prabhadevi, Kandivali (W) and Pali Hill," he added. Incorporated in 1995, Keystone Realtors is one of the leading real estate develo

Skilling start-up Disprz gets $30 mn in Series-C funding from Lumos, others

Established in 2015, Disprz's client base includes firms like ICICI Bank, Amazon, Indian Oil, Bajaj Allianz, Ather Energy, HDFC Life, and Starbucks, among others

US freezes fund transfers worth Rs 2.6 crore by Indian diamantaires

The US authorities told banks to hold the nostro accounts of the suppliers' banks, and thus, rough diamond sellers did not receive payments