Dr. Reddy's declines 7% post Q4FY19 numbers
Shares of Dr. Reddy's declined 7% on Monday in an otherwise strong market despite the company reporting a healthy set of numbers for the quarter, it was in-line on revenue and EBITDA fronts, but ahead on the PAT front.
The company reported revenue growth of 13.4% YoY to Rs4, 029.6cr, broadly in-line with consensus estimates. Due to lower selling and other expenses, EBITDA reported 45.3% YoY growth to Rs818.9cr, in-line with estimates. EBITDA margins stood at 20.3%, 446bps expansion on YoY basis. Led by strong EBITDA growth, company reported PAT of Rs455.4cr, 67.4% YoY growth and ~9% ahead of consensus estimates.
Bharat Forge's Q4FY19 PAT at Rs300cr
Bharat Forge reported Q4FY19 net profit at Rs300cr against Rs100cr in the same quarter last fiscal.
Revenue of the company for Q4FY19 increased by 14% YoY at Rs1,668cr vs. Rs1,467cr in the same period a year ago. Further, EBITDA rose to Rs516cr vs. Rs418cr a year ago.
"FY19 has been a record year for the company with strong revenue and profit growth. In FY19, the company registered a revenue growth of 22.6% and PAT growth of 51.5%. For the quarter, revenues grew by 13.8%, while PAT grew by 198.3% on a YoY basis. We continued to strengthen the balance sheet with all key financial ratios improving compared to FY2018 'SB.N. Kalyani, Chairman & Managing Director of Bharat Forge said.
PSU Bank stocks outperform; Indian Bank, Bank of India stocks surge
The Nifty PSU Bank index was trading 7% up in the morning session on Monday on heavy buying in Indian Bank, Bank of India and Canara Bank.
SBI and Syndicate Bank leads the index's gain by witnessing rally of 8% each. Allahabad Bank and Bank of Baroda also gained 8-9% respectively. PNB, Oriental Bank, Union Bank, J&K Bank, and Central Bank also joined the gainers' group by rising 4-6% respectively.
Jet Airways director Robin Kamark resigns from board
Jet Airways (India) announced that Robin Kamark, nominee director of Etihad Airways PJSC, resigned as director of the Company with effect from May 16, 2019.
The company announced this after-market hour on Friday.
Also, Kuldeep Sharma, Company Secretary and Compliance Officer of the Company, vide his letter dated May 14, 2019, has resigned from the services of the Company with immediate effect, the company said in the filing.
USFDA inspection at Cipla's Indore plant ends with zero observations
Cipla, in its filing to the exchanges, informed that inspection conducted by the United States Food and Drug Administration (USFDA) at the company's Indore facility ended with zero observation.
"USFDA conducted a post-approval inspection at the company's Indore facility from May 13 to May 17, 2019", the company said in a press note after markets hours to the exchanges on Friday.
Get more details here:
Call on:9977499927
* Investment & Trading in securities market is always subjected to market risks, past performance is not a guarantee of future performance.
Call on:9977499927
* Investment & Trading in securities market is always subjected to market risks, past performance is not a guarantee of future performance.
0 comments:
Post a Comment