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Britannia, IndiGo, Lupin to be watched
(08:17, 03 Jun 2020)

Britannia Industries consolidated net profit surged 26% to Rs 374.75 crore on 1.6% rise in net sales to Rs 2807.78 crore in Q4 March 2020 over Q4 March 2019. Consolidated profit before tax stood at Rs 457.72 crore in Q4 March 2020, rising 1.6% from Rs 449.92 crore in Q4 March 2019. Net profit was aided by a significant drop in tax expenses. Total tax expenses declined 45.4% to Rs 84.92 crore in Q4 March 2020 from Rs 155.65 crore reported in the same period last year.

InterGlobe Aviation (IndiGo) reported a consolidated net loss of Rs 870.81 crore in Q4 March 2020 as against consolidated net profit of Rs 595.83 crore in Q4 March 2019. Pre-tax loss stood at Rs 1,289.77 crore in Q4 FY20 as against pre-tax profit of Rs 626.07 crore in Q4 FY19. Net sales during the quarter rose 5.3% YoY (year-on-year) to Rs 8,299.06 crore. Closure of flight operations during national lockdown on account of COVID-19 significantly impacted revenue for the quarter.

Lupin announced that it has received approval for its Meloxicam Capsules, 5 mg and 10 mg, from the United States Food and Drug Administration (U.S. FDA), to market a generic equivalent of Vivlodex Capsules, 5 mg and 10 mg, of Zyla Life Sciences US, Inc. The product would be manufactured at Lupin's Aurangabad facility, India, and is expected to be launched shortly.

Syngene International has entered into collaboration with HiMedia Laboratories, a bioscience company with expertise in media manufacturing and diagnostics for over 45 years, to manufacture and distribute its ELISA kits. HiMedia will manufacture the kits at its facility in Mumbai and distribute it across India.

Quess Corp said the company has completed the additional acquisition of 25% equity shares in Terrier Security Services (India) (TSSIPL), an associate company of Quess Corp (Quess) from Heptagon Technologies, another associate of Quess. The shareholding of Quess in TSSIPL stands increased from existing 49% to 74%, thereby making TSSIPL a subsidiary of Quess effective 1 June 2020.

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