TOP CORPORATE NEWS - 24 MAY 2016

Colgate Palmolive Q4 net profit slips 11% (YoY)

Colgate Palmolive has announced the following Q4 & FY16 results for the quarter & year ended March 31, 2016:

For the Quarter ended March 31, 2016

The Company has posted a net profit of Rs145.89 crore Vs Rs163.63 crore.

Total Income increased to Rs1110.21 crore Vs Rs1035.65 crore.

VRL Logistics hits 20% lower circuit

VRL Logistics hits 20% lower circuit at Rs315.10, after the company's promoters said that they may dilute a portion of their stake in the company to fund their proposed airline venture.

VRL Logistics' promoters Vijay Sankeshwar and Anand Sankeshwar informed the board of directors of the company that they are currently proposing to enter the civil aviation industry by incorporating a separate company to undertake the business of a regional airline. The promoters said that they have taken this in-principle decision after a lot of study and inputs from industry experts. They intend to promote this new airline and induct a professional management to manage the day to day operations and grow this business, the statement said. The promoters said that they may seek to dilute a portion of their stake in VRL Logistics in order to provide them with liquidity to enable their investment for the aviation venture. Such dilution will be undertaken in accordance with all applicable laws and subsequent to the same, they will continue to hold a majority stake in the company,

Bajaj Finance Q4 net profit up 36% (YoY)

Bajaj Finance has announced the following Q4 & FY16 results for the quarter & year ended March 31, 2016:

Standalone

For the Quarter ended March 31, 2016 (YoY)

Net Profit rose by 36.39% to Rs315.04 crore Vs Rs230.98 crore.

Total Income increased by 35.45% to Rs1957.45 crore Vs Rs1445.05 crore.

Torrent Pharma Q4 consolidated net profit at Rs357 cr

Torrent Pharmaceuticals Ltd has announced the following Q4 & FY16 audited results for the quarter & year ended March 31, 2016

Standalone

For the Quarter ended March 31, 2016 (YoY)

The Company has posted a net profit of Rs121.00 crore Vs Rs103.00 crore.

Total Income is Rs1026.00 crore Vs Rs998.00 crore.

Ajanta pharma receives approval for Zolmitriptan tablets

Leading pharma major, Ajanta Pharma has announced that it has received final approval for Zolmitriptan tablets (2.5mg, 5mg) from the U.S. Food and Drug Administration (FDA).

Zolmitriptan is used in the acute treatment of migraine and is a bioequivalent generic version of Zomig®1 . Zolmitriptan Tablets is part of an ever-growing portfolio of products that Ajanta has developed for the U.S. market.

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