Capitalstars Updates: Top Corporate News:- 8 Feb 2018

top corporate news
Top Headlines Of The Day:- 8 Feb 2018

ACC Q4 earnings beat estimates; doubles profit to Rs 206 cr on strong EBITDA, sales
KEC International: Turning crisis into an opportunity
Bharat Forge Q3 profit spikes 77% on strong domestic & exports biz; expects strong Q4
BHEL Q3 profit jumps 64% to Rs 153 cr but revenue growth tepid at 0.4%
Dr. Reddy’s may face delays in launch of suboxone as Indivior throws new patent challenge

ACC Q4 earnings beat estimates; doubles profit to Rs 206 cr on strong EBITDA, sales
ACC, one of the largest cement makers in India, showed healthy performance in October-December quarter as profit more than doubled to Rs 205.7 crore from Rs 90.9 crore in last quarter of 2016.
The growth, which was ahead of a CNBC-TV18 poll of Rs 190 crore, was driven by strong operational as well as sales performance. Revenue from operations in Q4 grew by 29.5 percent to Rs 3,494.2 crore, compared to Rs 2,697.3 crore in year-ago. Sales volume for the quarter stood at 6.92 million tonnes, a 27 percent higher compared to 5.45 million tonnes sold in Q42016, the company said.
Strong operating profit growth of 54.2 percent year-on-year at Rs 443 crore and margin expansion of 200 basis points at 12.7 percent in Q4 was far better than analyst expectations of Rs 367 crore and 11.1 percent, respectively.

KEC International: Turning crisis into an opportunity
It pays to stay in a business for long. KEC International, which was established in 1945 by a revolutionary industrialist Ramji H Kamani, has seen several cycles like the major oil crisis in 1973, energy crisis in 1979 and the 2008 global financial crisis. One distinct advantage this brings to the business is that the company has been able to think ahead and managed to develop proven risk mitigation tools. When others were struggling, KEC International turned a crisis, about three years back, into an opportunity.Its initiatives to cut costs, reduce debt, manage working capital is delivering good results. That apart, its timely migration from Gulf countries to other regions like SAARC countries and scaling up segments like Railways and civil has provided stability and translated into higher growth.

Bharat Forge Q3 profit spikes 77% on strong domestic & exports biz; expects strong Q4
Bharat Forge has reported healthy earnings growth in the quarter ended December 2017, driven by strong commercial vehicles business and continued the momentum in exports.Consolidated profit growth of 77.4 percent at Rs 228 crore year-on-year was slightly ahead of a CNBC-TV18 poll of Rs 221 crore. Revenue from operations grew by 47.4 percent to Rs 1,391 crore compared to Rs 944 crore in same quarter last fiscal. Founder Baba Kalyani said the company had secured new orders worth USD 60 million in November 2017 – January 2018 period and USD 100 million year-to-date FY18, and of which bulk of the order wins in passenger vehicles and industrial application.

BHEL Q3 profit jumps 64% to Rs 153 cr but revenue growth tepid at 0.4%
State-run power equipment maker Bharat Heavy Electricals has reported strong growth of 64 percent year-on-year in profit at Rs 153.19 crore for the quarter ended December 2017.Profit for December quarter 2016 stood at Rs 93.54 crore, the company said. Revenue from operations during the quarter increased 0.4 percent to Rs 6,626.35 crore compared to Rs 6,602.82 crore in same period last year. At 14:35 hours IST, the stock price was quoting at Rs 95.05, up Rs 1.10, or 1.17 percent on the BSE.

Dr. Reddy’s may face delays in launch of suboxone as Indivior throws new patent challenge
In a move that may potentially delay the launch of Dr. Reddy’s much anticipated generic Suboxone film, US drugmaker Indivior has asserted a new patent to protect the drug going off-patent.
Reuters reported on Thursday that the US unit of Indivior has filed patent lawsuits against generic filers such as Dr. Reddy’s, Actavis, Par, Alvogen and Teva for infringement of United States patent number 9,855,221.Generic version of Suboxone film, a combination of Buprenorphine and Naloxone used in treatment opioid dependence, is a billion-dollar drug for Indivior, a company spun out of British drug major Reckitt Benckiser in 2014.

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