On a consolidated basis, Infosys' net profit fell 12.17% to Rs 3610 crore on 3.84% increase in revenues to Rs 21400 crore in Q3 December 2018 over Q2 September 2018. Operating profit was reported at Rs 4830 crore, a growth of 11.8% year-on-year and a decline of 1.3% quarter-on-quarter.
The company revised its FY2019 revenue guidance in constant currency upward to 8.5%-9.0%. It retained operating margin guidance at 22%-24%. The result was announced after market hours on Friday, 11 January 2019.
The board in its meeting held on Friday, 11 January 2019, approved buyback of equity shares, from the open market route through the Indian stock exchanges, amounting to Rs 8260 crore (maximum buyback size) at a price not exceeding Rs 800 per share (maximum buyback price), subject to shareholders' approval by way of postal ballot. Further, the board also approved a special dividend of Rs 4 per share.
Further, based on the recommendation of the nomination and remuneration committee, the board approved the re-appointment of Kiran Mazumdar-Shaw as the lead independent director from 1 April 2019 to 22 March 2023, subject to shareholder' approval.
Yes Bank announced the appointment of Mr. Brahm Dutt as non-executive part-time chairman of the board. The Reserve Bank of India, pursuant to the provisions of the Banking Regulation Act, 1949, and basis Mr. Brahm Dutt's outstanding credentials and experience, has approved his appointment as part-time chairman of Yes Bank's board up till 4 July 2020 vide its letter dated 11 January 2019.
Brahm Dutt has been on the board of Yes Bank since July 2013 as an independent director, and has contributed to almost all the sub-committees of the board over the past 5.5 years and is currently also the chair of the nomination & remuneration committee. The announcement was made on Saturday, 12 January 2019.
Net profit of Avenue Supermarts rose 2.12% to Rs 257.11 crore on 33.15% rise in net sales to Rs 5450.94 crore in Q3 December 2018 over Q3 December 2017. Earnings before interest, tax, depreciation and amortization (EBITDA) in Q3 December 2018 stood at Rs 453 crore, up by 7.5%. The company's EBITDA margin is at 8.3% in Q3 December 2018 as compared to 10.3% in Q3 December 2017. The result was announced on Saturday, 12 January 2019.
NTPC said it has decided to raise Rs 4,000 crore through private placement of secured non-convertible bonds in the nature of debentures at a coupon of 8.30% per annum with a door to door maturity of 10 years, on 15 January 2019. The proceeds will be utilized to finance capital expenditure/refinancing the debt requirement in on-going projects and other general corporate requirements. The bonds are proposed to be listed on both NSE & BSE. Security for these bonds will be duly created as per the requirements of and within the period of time prescribed under, the Companies Act and rules specified therein. The announcement was made after market hours on Friday, 11 January 2019.
Tejas Networks announced that it has signed a memorandum of understanding with Government of Kerala as its first telecom knowledge partner and is establishing a Center of Excellence (CoE) for next-generation telecom technologies in the state. Tejas CoE will focus on training, skills development and mentoring of college students, young entrepreneurs and high-potential electronics startups in the state. The announcement was made on Sunday, 13 January 2019.
Cadila Healthcare said Zydus Cadila has received the final approval from the US Food and Drug Administration (USFDA) to market Betamethasone Dipropionate Cream USP (US RLD - DIPROLENE AF), 0.05%. It will be manufactured at the group's Topical manufacturing facility at Ahmedabad. This medication is a strong corticosteroid and is used to treat a variety of skin conditions (e.g., eczema, dermatitis, allergies, rash). Betamethasone reduces the swelling, itching and redness that can occur in these types of conditions.
The group also received a final approval for Amlodipine and Atorvastatin Tablets USP (US RLD Caduet) in multiple strengths. It will be manufactured at the group's formulations manufacturing facility at SEZ, Ahmedabad. This combination product contains two active ingredients - amlodipine and atorvastatin. Amlodipine reduces blood pressure and the workload on the heart by relaxing the walls of the blood vessels. It is used to lower blood pressure and to treat angina (chest pain). Atorvastatin is used in combination with diet and exercise to treat high cholesterol. It works by blocking an enzyme that is needed to make cholesterol in the body.
The group now has 245 approvals and has so far filed over 330 Abbreviated New Drug Application (ANDAs) since the commencement of the filing process in FY 2003-2004. The announcement was made on Saturday, 12 January 2019.
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