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EID Parry Q1: Consolidated net profit at Rs 29.3 crore against Rs 27.7 crore loss YoY. Consolidated revenue went up 32.5 percent at Rs 4,142 crore against Rs 3,127 crore YoY. Consolidated EBITDA stood at Rs 430.6 crore against Rs 160.9 crore YoY. Consolidated EBITDA margin at 10.4 percent against 5.2 percent YoY.
Rajit Rajoriya, Equity Research Associate, Angel Broking Ltd
Consolidated Revenue from Operations of Tata Consumer grew by 13.4% to Rs 2714 crore against the street estimate of Rs 2560 crore. EBITDA margins improved by 310bp to 17.8% against 14.7% in the same quarter a year ago. Profit before exceptional items and tax at Rs 436 crore is higher by 42% as compared to corresponding quarter of the previous year, mainly on account of higher revenue and lower level of expenditure including commodity costs.
India Beverage business (40% of total business) saw growth of 11%, India Food business (24% of total business) grew by 19%, International Beverages business (36% of total business) grew by 15% on a YoY basis. Quarterly results of the company beat street’s estimates on all fronts.
Earnings:
Cadila Healthcare Q1 net profit rose 49.5% YoY at Rs 454 crore versus Rs 303.6 crore and revenue was up 4.1% at Rs 3,640 crore versus Rs 3,496.3 crore, reported CNBC-TV18.
Force Motors July auto sales:
The company’s total sales for the month of July 2020 down 55.7% at 1,129 units versus 2,551 units. Its total domestic sales were at 998 units and exports were at 131 units.
Godrej Properties Q1:
Company’s consolidated net loss was at Rs 20.2 crore versus profit of Rs 89.8 crore in a year ago period. Revenue was down 88.6% at Rs 72.3 crore versus Rs 636 crore, reported CNBC-TV18.
Gokul Refoils Buyback:
The company proposes to buy-back up to 3,29,00,000 equity share of the company of the face value of Rs 2 each constituting 24.94% of the fully paid-up equity share capital of the company at a price of Rs 12 per equity share payable in cash for an aggregate amount of up to Rs 39,48,00,000 from equity Shareholders / beneficial owners of the equity share of the company as on record date, i.e. August 14 2020.
Buzzing:
PI industries share price touched 52-week high of Rs 1,966, rising over 7 percent on August 5 after company reported 43 percent jump in its Q1 consolidated net profit at Rs 145.5 crore against Rs 101.6 crore in a year ago period. Revenue of the company increased by 40 percent at Rs 1060.1 crore versus Rs 754.1 crore, YoY.
Market Updates: Benchmark indices erased most of the early gains and trading flat.
At 12:29 IST, the Sensex was up 54.44 points or 0.14% at 37742.35, and the Nifty was up 22 points or 0.20% at 11117.30. About 1427 shares have advanced, 869 shares declined, and 119 shares are unchanged.
Lupin launches Favipiravir drug:
Lupin announced the launch of its Favipiravir in India under the brand name Covihalt for the treatment of mild to moderate COVID-19. Favipiravir has received authorization from the Drug Controller General of India (DCGI) for emergency use.
Lupin’s Covihalt dosage strength has been developed keeping in mind convenience of administration. It is available as 200 mg tablets in the form of a strip of 10 tablets, and priced at Rs 49 per tablet.
