Snehal khanna Blog

Revenue rises 7% to Rs 10,314 cr LATEST NEWS : ITC Ltd reported almost 6% rise in net profit at Rs 2,640 cr for the September quarter as against Rs 2,500 crore in year-ago period. Revenue increased 7% to Rs 10,314 crore as compared to Rs 9,661 crore in September 2016. Diversified group ITC Ltd today reported a 5.59 per cent increase in its standalone net profit at Rs 2,639.84 crore for the quarter ended September 2017, riding on lower expenses. The company had posted a net profit of Rs 2,500.03 crore during July-September of 2016, ITC Ltd said in a regulatory filing. Total income during the quarter under review was Rs 10,258.13 crore as against Rs 14,091.96 crore in the year-ago period. The company said total income from operations during the quarter is not comparable with the previous periods due to introduction of GST from July 1. Consequent on introduction of GST, central excise, VAT etc have been replaced by the one unified tax. In accordance with Indian ac...

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...