Stock Corner
1.
Drug maker
Cipla on Wednesday reported a 10 percent rise in its net profit for the June
quarter to Rs 451 crore, primarily due to better sales across its key markets
India, US and South Africa. Cipla had reported a net profit of Rs 408.8 crore
for the corresponding quarter a year ago.
2.
BEML net
loss widens, The company’s Q1FY19 net loss has increased to Rs 160.3 crore
against loss of Rs 85.1 crore in the same quarter last fiscal. Revenue was down
28 percent at Rs 454 crore versus Rs 637.1 crore. EBITDA loss was at Rs 137
crore versus loss of Rs 63.5 crore.
3.
Share price
of Bharat Electronics (BEL) rose 3.7 percent as company for supply and services
of LRSAM systems. The company has entered into contracts with Mazagon Dock
Shipbuilders (MDL), Mumbai and Garden Reach Shipbuilders and Engineers (GRSE),
Kolkata for supply and services of LRSAM systems for 7 ships being built by MDL
and GRSE, for the new ship building program.
4.
Lupin Q1
earnings The company has reported a 43 percent year-on-year decline in net profit
to Rs 202.8 crore in the June quarter. PAT was much below analysts' estimates
on a subdued US business. The company had posted a net profit of Rs 358.1 crore
during the same period last year. A Reuters poll of analysts estimated net
profit at Rs 347.6 crore in the first quarter on a revenue of Rs 4,084.8 crore.
5.
Drug maker
Cipla is likely to report a net profit of Rs 390.4 crore for the first quarter
of FY19, going by an average of estimates of analysts polled by Reuters. The
rise in the company's net profit will be led by improved sales in India and
South Africa and some gain in market share for its recent generic launches in
the US market.
Missed call
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