ICICI Bank said its net profit rose 26.04% to Rs 1,221.36 crore on 12.09% rise in total income to Rs 23,443.66 crore in Q4 March 2020 over Q4 March 2019. The resut was announced on Saturday, 9 May 2020.
Profit before tax stood at Rs 1422.65 crore in Q4 FY20, up by 81.92% from Rs 781.98 crore in Q4 FY19. Net interest income (NII) increased by 17% year-on-year to Rs 8,927 crore in Q4 FY20 from Rs 7,620 crore in Q4 FY19. The net interest margin was at 3.87% as on 31 March 2020 as compared to 3.72% as on 31 March 2019.
On a consolidated basis, Shree Cement's net profit jumped 57.6% to Rs 535.93 crore on 2.1% decline in net sales to Rs 3,415.14 crore in Q4 March 2020 over Q4 March 2019. The profit was aided by an improved operational performance. Profit before tax (PBT) rose 45.39% to Rs 616.36 crore in Q4 March 2020 over Q4 March 2019.
Shares of Reliance Industries (RIL) will be in focus. The Rights Issue Committee constituted by the Board of Directors of the company has fixed 14 May 2020 as the 'Record Date' for the purpose of determining the equity shareholders entitled to receive the rights entitlement in the rights issue.
Cipla said that following the inspection by the United States Food and Drug Administration (USFDA) at active pharmaceutical ingredient (API) manufacturing facility in Bommasandra, Bangalore from 20 January 2020 to 24 January 2020, the company has received the Establishment Inspection Report (EIR), indicating closure of the inspection.
Lupin informed that the inspection of its three units at Pithampur in Madhya Pradesh by the UK health regulator has been completed. The Medicines and Healthcare products Regulatory Agency (MHRA) of the UK conducted the inspection of the three units at Pithampur (Unit I, Unit II and Unit III) in January 2020, Lupin said in a statement.
Adani Transmission's consolidated net profit dropped 60% to Rs 59 crore on a 3% decline in operational revenue to Rs 2220 crore in Q4 March 2020 over Q4 March 2019. The company said that slump in net profit was due to one-time write off finance sunk cost of Rs 185 crore (non-cash item). Revenue declined due to lower share of distribution business on account of subdued power demand by industires.
VST Industries said that the company has resumed its manufacturing operations with restricted capacity and manpower considering the permission granted by the State Government of Telangana.
Carlyle Group will buy 74% stake in SeQuent Scientific. The US-based private equity investor will buy shares at Rs 86 each and the transaction is expected to close in the third quarter of 2020. In a separate announcement, Carlyle announced an open offer for acquisition of up to 6.45 crore shares, or 26% stake, of SeQuent Scientific at Rs 86 per share.
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