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Exide Industries net profit at Rs224cr in Q1
Exide Industries Limited, on Friday, reported that its Q1FY20 net profit has risen by 7% to Rs224.29cr from Rs209.92cr for the corresponding quarter ended June 30, 2018.However, revenue stood flat in Q1 at Rs2, 779.25cr as against Rs2, 772.46cr for the corresponding quarter ended June 30, 2018.EBITDA came up by 4% at Rs407.7cr in Q1.G Chatterjee, MD & CEO said that demand of Automotive Batteries remains under pressure while growth in UPS, Telecom, as well as other Infrastructure segments, continued during the first quarter.
HDFC spurts 2.5% after Q1 net profit jumps 46%
Shares of Housing Development Finance Corporation (HDFC) soared 2.5% in the afternoon session after the company has reported 46% jump in its Q1FY20 net profit at Rs3, 203cr as against Rs2, 190cr in the same quarter last year.Revenue was up 30.6% at Rs12, 990cr in Q1FY20 as against Rs9, 947.35cr for the corresponding quarter ended June 30, 2018.NII in Q1 stood at Rs2, 739cr, as per the filing. The company's loan book grew 11.2% at Rs4.16 lakh cr. Gross NPAs were up marginally at 1.29% against 1.22% on a qoq basis.
Power Grid PAT at Rs2428cr in Q1FY20
Power Grid Corporation posted its standalone net profit for the first quarter at Rs2,428cr, which was up by 8% against Rs2,241.7cr in Q1FY19.Revenue from operations rose by 8% to Rs8,804cr in Q1FY20 as against Rs8,130.7cr for the corresponding quarter ended June 30, 2018.EBITDA was up 13.9% at Rs7,897cr in Q1.
Zydus completes Phase-III trials of Saroglitazar Magnesium in Type-2 Diabetes MellitusZydus completes Phase-III trials of Saroglitazar Magnesium in Type-2 Diabetes Mellitus
Zydus Cadila announced that it has completed Phase 3 Clinical Trial in India of Saroglitazar Mg for treating Type 2 Diabetes. The trial was a multi-centric, randomized, double blind study to evaluate the safety and efficacy of 2mg and 4mg of Saroglitazar compared to Pioglitazone 45mg in patients with Type 2 Diabetes Mellitus. The Phase 3 trial enrolled 1140 subjects and studied the patients over a period of 56 weeks. The primary outcome of the trial was a change from baseline in glycosylated haemoglobin (HbAlc) for Saroglitazar 4 mg, 2 mg and Pioglitazone 30 mg at 24 weeks. The study also measured glycosylated haemoglobin (HbAlc) and other secondary outcome measures including fasting plasma glucose, Triglyceride (TG) cholesterol, Low Density Lipoprotein (LDL) cholesterol, Very Low Density Lipoprotein (VLDL) cholesterol, High Density Lipoprotein (HDL) cholesterol, Total Cholesterol (TC) cholesterol, Non HDL cholesterol, Apolipoprotein (Apo) Al, Apo B between Saroglitazar 4 mg, 2 mg and Pioglitazone 30 mg at Week 12, Week 24, and Week 56.
Marico rises 3% on healthy Q1 numbers
Marico is trading up 1.5% after posting health Q1 earnings yesterday.
Revenue from operations grew 7% yoy to Rs2,166cr with an underlying domestic volume growth of 6% and constant currency growth of 7% in the international business.There was a one-time trade inventory correction in the Gulf business. Adjusting for the same, constant currency growth in the International business stood at 9%.Easing raw material costs in the domestic and key overseas markets led to gross margin expansion of 524bps on a yoy basis.EBITDA margin expanded 324 bps, as the Company stepped up A&P spends by 32% to support its core and new franchises.
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