CORPORATE NEWS – 23 Jan 2017

corporate-news

JSW Energy reports weak Q3 earnings
JSW Energy has announced the following Q3 results for the quarter ended December 31, 2016 Standalone (YoY)
The Company has posted a net loss of Rs24.45 crore Vs net profit of Rs362.29 crore.
Total Income decreased to Rs979.49 crore Vs Rs1683.69 crore.Consolidated (YoY)
The Group has posted a net profit of Rs21.39 crore Vs Rs309.25 crore.
Total Income is Rs1954.83 crore Vs Rs2627.04 crore.

Ultratech Cement Q3FY2017: Enhanced operating efficiencies
Ultratech posted standalone net sales (net of excise duty) of Rs5540 crore (-2% YoY) for Q3FY2017 on back of 2% YoY decline in domestic sales impacted by demonetisation. Addition of dealers (400), retailers (1000), higher rural offtake and institutional sales led to limited impact of demonetization on volume growth as against general consensus.
The company very well managed operating costs during Q3FY2017 despite increase in energy prices and diesel prices. Reduction in logistics costs (down 3% YoY on per tone basis) and controlled impact of rising energy cost (up 5% YoY) led to 51BPS increase in operating margins. Hence, standalone operating profit for the quarter grew 1% YoY to Rs1045 crore.

Lupin gets USFDA nod for generic Paxil CR tablets
Pharma major Lupin has announced that it has received final approval for its Paroxetin Extended Release Tablets USP, 12.5 mg, 25 mg and 37.5 mg from the United States Food and Drug Administration (USFDA).
Lupin shall commence promoting the product shortly.
Lupin’s Paroxetin Extended Release Tablets USP, 12.5 mg, 25 mg and 37.5 mg are the AB rated generic equivalents of Apotex Technologies, Inc’s Paxil CR® Tablets, 12.5 mg, 25 mg and 37.5 mg.

United Spirits Q3 net profit quadruples to Rs148 cr
United Spirits has announced the following Q3 Unaudited Standalone results for the quarter ended December 31, 2016 (YoY):
The Company has posted a net profit of Rs147.70 crore Vs Rs37.23 crore.
Total Income increased to Rs7117.79 crore Vs Rs6666.44 crore.

Amara Raja Batteries’ Q3 net profit falls 18% to Rs112 cr (YoY)
Amara Raja Batteries has announced the following Q3 Un-Audited Standalone results for the quarter ended December 31, 2016:
The Company has posted a net profit of Rs112.32 crore Vs Rs136.82 crore.
Total Income increased to Rs1515.25 crore Vs Rs1380.89 crore.

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