Bajaj Auto’s Net Profit Falls 2% to Rs 1,433Cr in Q4 - Top Indian Market Updates

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Bajaj Auto Q4 Results: Net profit falls 2% YoY to Rs 1,433 crore

Bajaj Auto reported a 2% YoY decline in net profit to Rs 1,433 crore and an operating revenue of Rs 8,905 crore, up 11.7% YoY, for Q4 FY23. EBITDA rose 25.7% YoY to Rs 1,716.6 crore during the quarter. EBITDA margin stood at 19.3%, compared to 17.1% in Q4 FY22. The company's board recommended a dividend of Rs 140 per share.

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Zydus Lifesciences gets USFDA approval to market Metronidazole Topical cream in US

Zydus Lifesciences has received the final approval from the US Food and Drug Administration (USFDA) for manufacturing and marketing Metronidazole Topical cream in the US. According to IQVIA data, the cream had sales of $25m in the US in the 12 months ended February 2023. Zydus' Topical manufacturing facility in Ahmedabad will manufacture the product.

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HDFC AMC Q4 Results: Net profit jumps 10% YoY to Rs 376 crore

HDFC Asset Management Company Ltd (HDFC AMC) reported a 10% YoY increase in net profit to Rs 376.2 crore and a 5% rise in revenue to Rs 541 crore for Q4 FY23. The company's Quarterly Average Assets Under Management (QAAUM) for Q4 was Rs 4.49 lakh crore, compared to Rs 4.32 lakh crore for the same period last year. The company's board has recommended a dividend of Rs 48 per share.

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Tata Consumer Q4 Results: Net profit rises 23% YoY to Rs 268 crore

Tata Consumer Products reported a net profit of Rs 268 crore for Q4 FY23 compared to the loss of Rs 217 crore in Q4 FY22. The revenue from operations rose 14% YoY to Rs 3,619 crore. The company's profit before exceptional items and tax also increased 13% YoY to Rs 456 crore led by strong growth in the India branded business. The board has recommended a final dividend of Rs 8.45 per equity share. 

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L&T Construction bags orders in the range of Rs 1,000-2,500 crore in India and overseas

Larsen and Toubro's (L&T) Power Transmission & Distribution (PT&D) business has secured significant orders in India and overseas. L&T has won a power supply system order for the second phase of Chennai Metro and an order to supply, construct, test and commission a 132kV substation in the United Arab Emirates. The company aims to reduce Aggregate Technical & Commercial losses at a pan-India level through the latest bagged order under the Reforms-based Results-linked Distribution Sector Scheme (RDSS).

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Anupam Rasayan signs long-term supply contract worth Rs 380 crore

Anupam Rasayan has signed a Letter of Intent (LoI) worth $46 million (Rs 380 crore) with a major American multinational corporation to supply a new-age specialty chemical intermediate for the next five years. The company expects its share of revenues from the US to significantly increase in the coming years. The product will be manufactured in its upcoming multipurpose manufacturing facilities and is being produced in India for the first time.

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Sun Pharma launches novel therapy CEQUA for dry eye disease in India

Sun Pharmaceutical Industries Ltd has launched its ophthalmology treatment CEQUA in the Indian market to treat Dry Eye Disease (DED). The treatment is being released by one of its wholly-owned subsidiaries using nanomicellar (NCELL) technology. CEQUA is the first DED treatment in India and has already been launched in the United States and other geographies as part of Sun Pharma's specialty portfolio of drugs.

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Serum Institute to double investment in Biocon Biologics to $300 million

Serum Life Sciences will make an additional equity investment of $150 million in Biocon Biologics (BBL), a subsidiary of Biocon. It had invested $150 million in Biocon Biologics in November 2022, and this additional investment will be made through the conversion of the $150 million loan provided to Biocon Pharma into equity in BBL. The total aggregate equity investment of SILS in BBL will now amount to $300 million.

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AU SFB Q4 Results: Net profit rises 23% YoY to Rs 425 crore

AU Small Finance Bank has reported a 23% YoY increase in net profit to Rs 425 crore. The Net Interest Income (NII) also increased 37% YoY to Rs 4,425 for Q4 FY23. The bank's total income rose 34% YoY to Rs 9,240 crore. The gross non-performing assets ratio fell to 1.7% from 1.98% in Q4 FY22. The bank's board proposed a 10% dividend of Rs 1 per equity share for Q4 FY23. 

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