Digpu News

Mumbai (Maharashtra) [India], Oct 23: GlaxoSmithKline (GSK) Pharmaceuticals on Tuesday reported revenue for the quarter ended September 30 at Rs 873 crore with a year-on-year growth of 8 per cent. Profit after tax (PAT) including exceptional items came at Rs 503 crore, clocking a growth of 399 per cent. Exceptional items recognised in the quarter include divestment of the company’s land at Thane for a net consideration of Rs 552 crore. Managing Director A Vaidheesh said the company’s global innovation, performance and trust strategy guided investment of resources in focus therapies which is showing encouraging results with promoted brands recording over 20 per cent growth this quarter. “We continue to see the annualising effect of discontinued tail-end brands. Adjusting for this our underlying sales growth is 16 per cent supported by strong volume growth of 11 per cent,” he said in a statement. GSK Pharmaceuticals continues to drive improved operational efficiencies reflect...

Mumbai (Maharashtra) [India], Oct 22 : Oberoi Realty Ltd has recorded a consolidated revenue of Rs 505 crore during the second quarter of current fiscal as against Rs 618 crore in Q1 FY20. The consolidated profit before tax was Rs 192 crore as against Rs 216 crore for Q1 FY20. The consolidated profit after tax also fell to Rs 138 crore as against Rs 152 crore in the preceding quarter. The current sentiment in real estate sector across the country has plummeted in recent years despite a slew of measures by the government and the Reserve Bank of India (RBI) to boost liquidity and revive demand. “In the last quarter, the Modi 2.0 government has taken a series of significant measures to boost the economy such as incentives for affordable housing, interest rate reduction and a corporate tax cut,” said Chairman and Managing Director Vikas Oberoi. “We are confident that the government will continue to take similar requisite steps for the real estate sector to accelerate growth and...

Mumbai (Maharashtra) [India], Oct 22 : Aditya Birla-led UltraTech Cement on Monday reported a consolidated profit after tax of Rs 579 crore during the July to September quarter of current financial year, up from Rs 356 crore in the same period of previous fiscal. While net sales totalled Rs 9,491 crore compared to Rs 9,088 crore in Q2 FY19, the profit before interest, depreciation and tax was Rs 2,072 crore vis-a-vis Rs 1,564 crore. During the quarter, UltraTech completed the acquisition of Century Cement by allotting 13.96 crore equity shares of Rs 10 each to shareholders on October 14. This makes UltraTech the third largest cement company in the world outside of China. It is also the only company to have a capacity of over 100 million tonnes in a single company. Its manufacturing capacity stands at 117.4 million tonnes per annum. In June 2017, the company had acquired 21.2 million tonnes capacity from Jaiprakash Associates. “On the basis of positive demand seen in north I...

Mumbai (Maharashtra) [India], Oct 22 : Piramal Enterprises Ltd on Monday reported an 18 per cent jump in its net profit to Rs 569 crore for Q2 FY20 year-on-year and by 19 per cent to Rs 1,029 crore for H1 FY20. Consolidated revenues increased by 15 per cent to Rs 3,604 crore in the second quarter and by 18 per cent to Rs 7,110 crore for the first half. The company said that 38 per cent of its revenues were earned in foreign currency for H1. Profit before tax and exceptional items increased by 29 per cent year-on-year to Rs 733 crore for Q2 and by 25 per cent to Rs 1,338 crore for H1. “Our diversified business model has enabled us to deliver resilient performance during this quarter, despite continued liquidity tightening in the non-banking finance sector,” said Chairman Ajay Piramal. Financial services business received inflows of Rs 45,000 crore over the past year and brought down commercial paper borrowings by 92 per cent to Rs 1,480 crore, reflecting the quality of the ...