NEWS CORNER
1.
Indian biopharmaceutical company
Biocon rose over 9% on Friday after its first-quarter net profit beat
estimates. The company's Q1FY19 consolidated net profit has risen 47.23% yoy to
Rs119.70cr. The company’s consolidated revenue in the period stood at
Rs1,123.80cr, up 21.18% yoy but down 3.91% qoq.
2.
Jubilant Industries reported a
standalone net profit rise of 213.3% yoy to Rs74.7cr in Q1FY19. The company’s
standalone revenue stood at Rs855.1cr, up 26% yoy and 9.6% qoq.
3.
Petrochemical-retail-to-telecom
major Reliance Industries has started off the financial year 2018-19 with first
quarter consolidated profit at Rs 9,485 crore, which grew by 0.3 percent
compared to Rs 9,459 crore in the previous quarter. The year-on-year bottomline
growth was 4.5 percent.
4.
India’s largest private sector
lender ICICI Bank reported a net loss of Rs 119.5 crore in the first quarter of
FY19 compared to a profit of Rs 2,049 crore in the same quarter last year. This
is the first loss reported by the bank since listing.
5.
Bank of Baroda reported a 160
percent jump in net profit to Rs 528.3 crore for the quarter ended June,
beating analyst estimates. In the same quarter last year, profit was Rs 203.4
crore.
6.
Welspun India will invest Rs 900
crore this year as part of its plan to set up a flooring textile facility in
Telangana. The textile company has already invested Rs 70 crore of the total
outlay in the first quarter of the year.
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