Balrampur Chinni Mills on Wednesday reported 39 per cent decline in its net profit at Rs 73.58 crore for the quarter ending June due to lower sales margin in sugar business. Its net profit stood at Rs 120 crore in the year-ago period, the Kolkata-based firm said in a regulatory filing. Total income also fell during April-June period of this fiscal to Rs 1,008.11 crore from Rs 1,143.41 crore in the corresponding period of 2017-18.
The board of directors at its meeting held on Wednesday approved the setting up of a new distillery unit, thereby increasing the capacity of its distilleries by adding 160 kilo litres per day. With this addition, the total capacity will stand augmented to 520 kilo litres per day. Balrampur Chinni is a leading sugar company with plants in Uttar Pradesh.
Cipla Q1 net profit up 10%
Drug major Cipla on Wednesday posted 10 per cent increase in its consolidated net profit to Rs 451 crore for the first quarter ended June 30, driven by robust sales across various markets. The company had reported a net profit of Rs 409 crore in the same period previous fiscal. Total Income from operations stood at Rs 3,939 crore in the quarter, as compared to Rs 3,525 crore in the corresponding period last year, Cipla said in a statement.
“The limited competition launches in the US were in line with our expectations and we are looking forward to more interesting launches in the coming weeks,” Cipla MD and Global CEO Umang Vohra said. The company continued to retain its focus on quality with EIR (establishment inspection report) received for Goa and Indore plants, he added.
The Mumbai-based company also announced appointment of R Ananthanarayanan as its Global Chief Operating Officer (GCOO), effective Wednesday. In his role at Cipla, he will oversee R&D, manufacturing, supply chain, API business and the key geographies of North America, Europe and emerging markets to help leverage and grow company’s generics portfolio and competencies in these markets. He will report to Vohra.
lupin Q1 net profit dips 43%
Drug firm lupin on Wednesday reported 43.37 per cent decline in its consolidated net profit at Rs 202.76 crore for the first quarter ended June 30, hit by drop in sales in the US and Japan. The company had posted a net profit of Rs 358.08 crore in the April-June quarter of 2017-18. Income from operations declined to Rs 3,774.57 crore for the first quarter as compared with Rs 3,806.83 crore in the same period of the previous fiscal.
During the quarter, the company’s North America sales declined to Rs 1,185.8 crore, as compared with Rs 1,499 crore in the same period of 2017-18. lupin’s Japan sales stood at JPY 8,129 million during the first quarter ended June 30, as compared with JPY 8,585 million in the same period of the previous fiscal. In India, the company’s formulation sales grew by 30.7 per cent to Rs 1,192.4 crore during the period under review from the same period of the previous fiscal.
PNC Infratech Q1 net profit jumps over threefold to Rs 102 crore
Construction firm PNC Infratech on Wednesday said its standalone net profit jumped over threefold to Rs 102 crore in the first quarter ended June 30. The company had clocked Rs 30-crore net profit during the same period a year ago, PNC Infratech said in a statement. Its total income during the said quarter more than doubled to Rs 753.39 crore from Rs 362.15 crore during April-June 2017. The total expenses of the company were also higher at Rs 636.01 crore in the June quarter as against Rs 330.21 crore in same period last fiscal.