Business

Sun Pharma Q1 results: Sun Pharmaceutical Industries on Thursday reported 40.2% year-on-year (YoY) consolidated net profit growth at ₹2,835.62 crore for the first quarter of FY25. The company's net profit in the year-ago quarter was ₹2,022.54 crore.Drug major Sun Pharma's revenue from operations in Q1FY25 grew 6% year-on-year to ₹12,652.7 crore from ₹11,940.84 crore.US formulation sales fell 1% to $466 million and accounted for more than 31.1% of total consolidated sales. Formulation sales in India grew by 16.4% to ₹4,144.5 crore and were approximately 33.1% of total consolidated sales.Sun Pharma said the pharma company's formulation sales in emerging markets stood at $284 million for Q1FY25, a growth of 8.8% and accounted for 18.9% of total consolidated sales.During the quarter ending Ju...

According to the company's filing on the Bombay Stock Exchange (BSE), Ecums Drugs & Pharmaceuticals Ltd said the company has raised about ₹828.78 crore from anchor investors ahead of its initial public offering on Tuesday, July 30.The pharmaceutical manufacturing company on Monday, July 29, allotted 1,22,05,912 or 1.22 crore equity shares to its anchor investors at ₹679 per share, according to exchange filings.These included SBI Healthcare Opportunities Fund, SBI Conservative Hybrid Fund, International Growth and Income Fund, Smallcap World Fund, Abu Dhabi Investment Authority, DSP India Fund, IIFL Asset Management Ltd, BlackRock Emerging Frontiers Master Fund Ltd, BlackRock Global Funds - India Fund . Top anchor allocation for share issue in the anchor round on Monday.According to th...

Private sector lender ICICI Bank on Saturday reported a 14.6% year-on-year rise in its net profit for the first quarter of the current financial year (QIFY25), driven by higher treasury and other income. For the three months to June, the bank's net profit was ₹11,059 crore, compared with ₹9,648 crore in the same period last year.Growth in non-interest income, or other income, was a significant contributor, rising 23.3% year-on-year (YoY). India's second-largest private bank saw a rise in dividend income from its subsidiaries, with other income totaling ₹6,389 crore, compared to ₹5,183 crore a year ago. Notably, dividend income increased to ₹894 crore from ₹291 crore in the corresponding quarter last year.There was also a strong turnaround in treasury income at the end of June quarter, whi...

SBI Cards and Payment Services on April 26 announced an 11.05 percent year-on-year (YoY) growth in its net profit for the March quarter of financial year 2023-24 at ₹596.47 crore, compared to the reported ₹596.47 crore. Reached Rs 662.37 crore.The company's revenue also grew by over 14 per cent to ₹4,475 crore in Q4FY24, compared to ₹3,917 crore in the same period a year ago. The moment was led by interest income rising 28 per cent to ₹2,139 crore in Q4FY24 from ₹1,672 crore in Q4FY23.Gross non-performing assets (GNPA) stood at 2.76 percent of gross advances as of March 31, 2024, while it stood at 2.35 per cent as of March 31, 2023. Net non-performing assets as of March 31 stood at 0.99 per cent. 2024 as against 0.87 percent till March 31, 2023.In the fourth quarter of financial year 2023...

Adani Green Energy on July 25 announced a 95 per cent rise in consolidated net profit to ₹629 crore for the quarter ending June 30, 2024. In comparison, the company had reported a consolidated net profit of ₹323 crore during the same period. Last year's period.The Adani group company's total income rose 22.5 per cent to ₹3,122 crore in Q1FY25, compared to ₹2,550 crore in the year-ago period, according to exchange filings.“We are continuously working towards the development of the world's largest single-site renewable energy plant of 30 GW at Khavra, Gujarat. To enable quick implementation, we have deployed advanced robotics technology for installation of solar modules, significantly increasing productivity.Additionally, we have developed an extensive local supply chain and established con...