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DAILY CORPORATE NEWS
Dr Reddy's tanks 11% post warning letter from USFDA
Shares of pharma major Dr Reddy's Laboratories plunged 11.2 percent intraday Friday as it has received a warning letter from USFDA. "The warning letter is relating to its API manufacturing facilities at Srikakulam, Andhra Pradesh and Miryalaguda, Telangana, as well as Oncology Formulation manufacturing facility at Duvvada, Visakhapatnam, Andhra Pradesh.
BHEL posts Q2 loss Rs 205 cr, revenue beats estimates
State-run power equipment maker Bharat Heavy Electricals (BHEL) has posted a loss of Rs 205 crore in July-September quarter against profit of Rs 124.84 crore in corresponding quarter of last fiscal. Lower revenue and weak operational performance hit bottomline but other income and tax write back limited losses. Revenue declined 3.35 percent to Rs 5,938 crore during the quarter compared to Rs 6,144 crore in same quarter last fiscal.
M&M Q2 profit down 2.4% on tax cost, revenue beats forecast
Utility vehicle maker Mahindra and Mahindra 's (M&M) standalone profit declined 2.4 percent to Rs 923.6 crore in July-September quarter compared to Rs 946.6 crore in year-ago period, impacted by tractor business and higher tax cost.
Eicher Motors Q3 net jumps 55% to Rs 255 cr, income rises
Eicher Motors has posted a consolidated net profit of Rs 255.5 crore in September quarter, up 55 percent from Rs 165 crore in corresponding quarter last fiscal. In third quarter, total income rose 37 percent to Rs 3122.5 crore versus Rs 2275 crore in year-ago period. The company follows January-December as its financial year.
Tata Global Q2 consolidated profit up 24% to Rs78 cr (YoY)
Tata Global Beverages has announced the following Q2 results for the quarter ended September 30, 2015 (YoY):
Audited Standalone results for the Quarter ended September 30, 2015
The Company has posted a net profit of Rs108.31 crore Vs Rs131.22 crore (YoY).
Total Income is at Rs852.61 crore Vs Rs831.60 crore (YoY).
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