On a consolidated basis, Wipro's net profit rose 16.27% to Rs 2093.80 crore on 1.52% increase in net sales to Rs 13977.70 crore in Q1 June 2018 over Q4 March 2018. The result was announced after market hours on Friday, 20 July 2018.
IT services segment revenue rose 2.2% to Rs 13700 crore in Q1 June 2018 over Q4 March 2018. Wipro expects revenue from its IT services business to be in the range of $2,009 million to $2,049 million. This translates to a sequential growth of 0.3% to 2.3%, excluding the impact of the divestment of its hosted data center services business which concluded in the quarter ended 30 June 2018.
Abidali Z. Neemuchwala, CEO and Member of the Board said that the company has seen pickup in spending in the developed markets, particularly in North America and BFSI. Wipro's investments in Digital continue to help it build differentiation in key industry segments, which is resulting in a consistent improvement in its client metrics. The company has had a good quarter of order bookings and the firm is moving in the right direction.
Jatin Dalal, Chief Financial Officer said that the company successfully concluded the sale of its hosted data center business in the quarter. The company continues to improve its operating metrics and generated strong operating cash flows at 136% of its net Income during the quarter.
HDFC Bank's net profit rose 18.17% to Rs 4601.44 crore on 18.85% increase in total income to Rs 26367.04 crore in Q1 June 2018 over Q1 June 2017. The result was announced after market hours on Saturday, 21 July 2018.
Bata India's net profit rose 36.6% to Rs 82.55 crore on 8.3% increase in net sales to Rs 797.28 crore in Q1 June 2018 over Q1 June 2017. The result was announced after market hours on Friday, 20 July 2018.
Just Dial's net profit rose 0.97% to Rs 38.53 crore on 11.26% increase in net sales to Rs 211.43 crore in Q1 June 2018 over Q1 June 2017. The result was announced after market hours on Friday, 20 July 2018.
Further, Just Dial's board approved the proposal to buyback up to 27.50 lakh equity shares, for an aggregate amount not exceeding Rs 220 crore, at a maximum price of Rs 800 per share.
Jubilant FoodWorks said it received a copy of the investigation report submitted by the Director General Anti Profiteering (DG) to the National Anti-Profiteering Authority (NAA) in respect of the investigation carried out by DG that the company has profiteered by not passing on the reduction in GST. However the company said it has passed on the benefit on account of reduction of GST rates to the customers and accordingly will represent its case before NAA. The announcement was made on Saturday, 21 July 2018.
Corporation Bank said that its board approved the proposal to raise capital through preferential allotment of equity shares to the Government of India to the extent of Rs 2555 crore, subject to all necessary approvals. The announcement was made on Saturday, 21 July 2018.
Cadila Healthcare announced that it received the final approval from the US Food and Drug Administration (USFDA) to market Acetylcysteine injection (US RLD - Acetadote Injection), 6 g/30 mL (200 mg/mL). It is an antidote for acetaminophen overdose indicated to prevent or lessen hepatic injury after ingestion of a potentially hepatotoxic quantity of acetaminophen. It will be manufactured at the group's formulations manufacturing facility at Moraiya, Ahmedabad. In line with this, the group now has 211 approvals and has so far filed over 330 ANDAs since the commencement of the filing process in FY 2003-2004. The announcement was made on Saturday, 21 July 2018.
UPL announced that its wholly-owned subsidiary, UPL Corporation, signed a definitive agreement with Platform Specialty Products Corporation to acquire Arysta LifeScience Inc. and its subsidiaries, a global provider of innovative crop protection solutions, including biosolutions and seed treatment, for approximately $4.2 billion in cash consideration, subject to customary closing conditions and regulatory approvals. The announcement was made after market hours on Friday, 20 July 2018.