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US sales drop 42%; Rs 950-cr charge related to settlement of antitrust case in US LATEST NEWS    :    Drug major Sun Pharmaceutical on Friday reported a consolidated net loss of Rs 425 crore for the quarter ended June 30, mainly due to one-time exceptional item. The company had posted a net profit after taxes, share of profit/loss of associates, joint ventures and non-controlling interests of Rs 2,033.71 crore for the same period a year ago, Sun Pharmaceutical Industries said in a filing to the BSE. Consolidated total revenue from operations of the company stood at Rs 6,208.79 crore for the quarter under consideration as against Rs 8,256.26 crore for the corresponding period of the previous fiscal, it added. The company and one of its wholly owned subsidiaries entered into settlements with certain plaintiffs in respect of an antitrust litigation relating to Modafinil in the month of July 2017, whereby the company agreed to pay an aggregat...

Changes to the way JLR's pension payments are calculated resulted in a one-time gain of Rs 3,609 cr LATEST NEWS    : Tata Motors Ltd posted a 42% rise in quarterly profit on Wednesday. Profit was Rs 3,182 crore in the first quarter ended June 30, compared with Rs 2,236 crore a year earlier, the company said. The automaker, owned by the software-to-salt conglomerate Tata Group, said its total income fell about 10% to Rs 59,972 crore versus Rs 66,339 crore a year ago. After announcing results, the company said, "First quarter results have not met our expectations." It plans to launch its new car Nexon in September. The company made a one- time gain of Rs 3,609 crore related to the changes made to Jaguar Land Rover pension plans. Volume sales, including exports of commercial and passenger vehicles for the quarter stood at 1,11,860 units, down 11.8% when compared to the corresponding quarter last year, it said. Tata Motors said its operatin...

However, net interest income rises 8% to Rs 5,589 cr LATEST NEWS :     Country's largest private lender ICICI Bank reported 8% dip in net profit at Rs 2,049 crore for quarter ending June 2017 as against Rs 2,232 crore a year ago. However, net interest income rose 8% to Rs 5,589 crore as compared to Rs 5,158 crore in June 2016. Gross NPAs in Q1FY18 were 7.99% versus 7.89% in Q4FY17 and net NPAs were 4.86% in Q1FY18 versus 4.89% in Q4FY17. Net loans to companies whose facilities have been restructured were Rs 2,370 crore as compared to Rs 4,265 crore in March 31, 2017. On Thursday, the lender's stock on BSE closed 1% lower at Rs 307. READ THIS : Official: SSC releases admit cards for 2017 CGL Exam I

Revenue stood at $3.55 bn, sticking to the higher end of the company's guidance IT services major Cognizant today posted a 26 per cent increase in net profit at $557 million for the quarter ended March 31, 2017. Cognizant's net profit stood at $441 million in the first quarter of 2016. Cognizant Technology Solutions has declared its first quarterly cash dividend of $0.15 per share, after it has agreed with activist investor Elliott Management to issue dividend and announce share purchase programme. The company has posted a growth in tune with its guidance for the quarter ended March 31, 2017, with a revenue growth of 10.74% to $3.55 billion as compared to $3.20 billion during the same period a year ago.   Read this: At least 9 months' pay! Cognizant top execs get voluntary separation option The company has declared its initial quarterly cash dividend of $0.15 per share to Cognizant Class A Common Stock for shareholders of record at the close of busi...