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 23 : Private lender Axis Bank on Tuesday reported a net loss of Rs 112 crore on a for the second quarter of current fiscal due to a one-time tax impact compared to a net profit of Rs 790 crore in the corresponding July to September quarter of previous fiscal. “The net loss was driven by a one-time tax impact of Rs 2,138 crore due to changes in the corporate tax rate. Ex of this extraordinary item, profit after tax would have been Rs 2,026 crore, up 157 per cent year-on-year,” it said in a statement. Profit before tax for Q2 FY20 stood at Rs 2,433 crore, up 109 per cent year-on-year. The bank’s total income rose to Rs 19,334 crore in Q2 of FY20 from Rs 15,959 crore in Q2 FY19. Net interest income grew by 17 per cent to Rs 6,102 crore from Rs 5,232 crore in Q2 FY19 while net interest margin for Q2 FY20 stood at 3.5 per cent. The bank showed improvement in asset quality with gross non-performing assets (NPAs) falling to 5.03 per cent of gross ad...

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...