Infosys' consolidated net profit fell 0.8% to Rs 2374 crore on 7.8% increase in revenues to Rs 11267 crore in Q1 June 2013 over Q4 March 2013. The results are as per International Financial Reporting Standards (IFRS).
In terms of outlook, Infosys expects its consolidated revenues to grow 13% to 17% in the fiscal year ending 31 March 2014.
"Despite facing an uncertain macro environment, changing regulatory regime and a volatile currency environment, we have done well in Q1 and are cautiously optimistic about rest of the year," said S. D. Shibulal, CEO and Managing Director.
"We maintained our margins and continued making investments in the business," said Rajiv Bansal, Chief Financial Officer. "We have announced compensation increases for FY 14 effective July which will affect our margins in the future quarters."
Tata Motors' British luxury car unit, Jaguar Land Rover (JLR), on Thursday, 11 July 2013, said its sales rose 7% to 33,739 vehicles in June 2013 over June 2012. Sales of the Jaguar brand jumped 34% to 6,574 vehicles in June 2013 over June 2012. Land Rover sales rose 2% to 27,165 units in June 2013 over June 2012 despite the run out of Range Rover Sport, JRL said. During the first six months of 2013, JLR sold 210,190 vehicles, an increase of 14% versus the same period last year.
Commenting on the half year performance Phil Popham, Jaguar Land Rover Group Sales Operations Director said "It is very encouraging to see both our Jaguar and Land Rover brands delivering strong sales performances across our 178 markets. New model introductions have been incredibly well received with the all-new Range Rover retailing more than 22,000 units since launch. The F-TYPE which received a rapturous reception from media during its global launch last month is off to an excellent start with new customers and will go on sale in China this month".
Sun Pharmaceutical Industries announced before market hours today, 12 July 2013 that the US Food and Drug Administration (USFDA) has granted its subsidiary final approval for its Abbreviated New Drug Applications (ANDA) for generic version of Prandin, Repaglinide tablets. Repaglinide tablets, 1 milligram (mg) and 2 mg are therapeutic equivalents of Novo Nordisk's Prandin tablets. These tablets have annual sales of approximately $200 million in the US. Repaglinide tablets are indicated as an adjunct to diet and exercise to improve glycemic control in adults with type-2 diabetes mellitus. Sun Pharma's subsidiary, being the first-to-file an ANDA for generic Prandin with a para IV certification, is eligible for a 180-day marketing exclusivity in the US.
Dr Reddy's Laboratories turns ex-dividend today, 12 July 2013, for final dividend of Rs 15 per share for the year ended 31 March 2013 (FY 2013).
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