Dr Reddy's Laboratories' consolidated net profit rose 26% to Rs 720 crore on 11% growth in revenue to Rs 3990 crore in Q2 September 2015 over Q2 September 2014. The result was announced after market hours yesterday, 29 October 2015. In constant currency terms, Dr Reddy's Laboratories' revenue grew 14% in Q2 September 2015 over Q2 September 2014. Earnings before interest, taxation, depreciation and amortization (EBITDA) rose 31% to Rs 1140 crore in Q2 September 2015 over Q2 September 2014.
Among key corporate earnings, ICICI Bank and ITC are scheduled to announce their Q2 earnings today, 30 October 2015.
HCL Technologies yesterday, 29 October 2015 announced that it has acquired Minneapolis-based PowerObjects - a leading North American provider of Microsoft Dynamics CRM. This acquisition will bolster HCL's global applications business, which offers transformational programs and complex application management for a myriad of clients' technology landscapes, HCL Technologies said. The total cash consideration for this transaction is approximately $46 million, including contingent payments subject to certain financial milestones. PowerObjects had trailing twelve-month revenues of approximately $37 million as of 30 September 2015. The announcement was made after market hours yesterday, 29 October 2015.
PowerObjects is a professional services firm completely focused on providing service, support, education and add-ons for Microsoft Dynamics CRM. This acquisition enables HCL to take advantage of the rapidly-growing global CRM industry, as Microsoft Dynamics is one of the fastest growing CRM products in the market, the company said.
Cipla after market hours yesterday, 29 October 2015 said that it has entered into a definitive agreement to sell its entire remaining 25% stake in Biomab Holding Limited, Hong Kong (BHL) to Biomab Brilliant Limited, British Virgin Islands for a total consideration of $25.77 million. BHL is focused on developing Biosimilars for the Chinese market. Cipla said that the decision to divest its entire remaining stake in Hong Kong based BHL was taken with a view to focus on global product development of Biosimilars in the field of cancer, auto-immune diseases, respiratory diseases and diabetes.
Muthoot Finance's net profit rose 2.22% to Rs 174.50 crore on 7.39% increase in total income to Rs 1139.95 crore in Q2 September 2015 over Q2 September 2014. The result was announced after market hours yesterday, 29 October 2015.
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Sun Pharma Advanced Research Company announced after market hours yesterday, 29 October 2015, that the Government of India has approved the company to allot equity shares to Foreign institutional investors (FIIs), foreign portfolio investors (FPIs), Non-Resident Indians (NRIs) and Overseas Corporate Bodies (OCBs) pursuant to the proposed rights issue of the company. On 12 May 2015, the company had announced its intention to raise upto Rs 250 crore via rights issue of equity shares to the shareholders of the company on such ratio and at such price and premium as may be decided in consultation with the lead managers to the proposed rights issue.
Emami's consolidated net profit fell 32.98% to Rs 61.34 crore on 16.47% increase in total income to Rs 587.54 crore in Q2 September 2015 over Q2 September 2014. The result was announced after market hours yesterday, 29 October 2015.
Zuari Agro Chemicals announced after market hours yesterday, 29 October 2015, that ammonia/urea plants have resumed production. The plants were earlier shut down due to minor leak in syn gas compressor, which was being repaired.
SKF India's net profit fell 14.68% to Rs 50.04 crore on 2.42% decline in total income to Rs 621.16 crore in Q2 September 2015 over Q2 September 2014. The result was announced after market hours yesterday, 29 October 2015.
Glenmark Pharmaceuticals' consolidated net profit rose 19.81% to Rs 197.78 crore on 13.60% increase in revenue to Rs 1909.36 crore in Q2 September 2015 over Q2 September 2014. Consolidated EBITDA (Earnings before interest, taxation, depreciation and amortization) rose 19.85% to Rs 401.77 crore in Q2 September 2015 over Q2 September 2014. The figures are as per International Financial Reporting Standards (IFRS). The result was announced after market hours yesterday, 29 October 2015.
Sales for the formulation business in India grew 27.27% to Rs 608.54 crore in Q2 September 2015 over Q2 September 2014. Glenmark Pharmaceuticals Inc., USA registered revenue from the sale of finished dosage formulations rose 17.9% to Rs 598.42 crore in Q2 September 2015 over Q2 September 2014. Revenue from Africa, Asia and CIS region rose 21.17% to Rs 210.87 crore in Q2 September 2015 over Q2 September 2014. Glenmark Europe's operations revenue rose 22.82% to Rs 160.35 crore in Q2 September 2015 over Q2 September 2014. Glenmark's revenue from its Latin American and Caribbean operations declined 28.24% to Rs 165.67 crore in Q2 September 2015 over Q2 September 2014. Revenue from sale of active pharmaceutical ingredients (API) to regulated and semi-regulated markets globally increased 3.73% to Rs 165.50 crore in Q2 September 2015 over Q2 September 2014.
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