Pharma company Dr Reddy’s Laboratories announced its consolidated net profits had expanded, more than doubling to Rs. 312 crore in its Q4 compared to Rs. 74 crore in net profits the same period last year.
Revenue for the company however went in the opposite direction, declining 5% to Rs. 3,554 crore compared to last year's Q4, due to a fall in revenue in its global generics and active ingredient segments. The US market has proven to be a tough one for Indian pharma companies this FY, with stiff competition from other generic firms eating into margins and profits.
Kolkata-based UCO Bank posted a loss of Rs 588.2 crore for its Q4, although its loss narrowed from the Q4 of last year as provisions for bad loans decreased. Net loss was at Rs. 1,715.15 crore in the Q4 last year. The bank has posted losses now for six quarters in a row, and revenues for the quarter were down yoy by 17.7% to Rs. 3,906.7 crore, from Rs 4,745.5 crore in last year's quarter.
Jindal Stainless (JSL) announced Q4 results and a net profit of Rs 161.1 crore, marking a recovery from the Rs 171 crore in net losses the company had seen in the Q4 last year. in the corresponding period of fiscal 2016.
The firm's borrowings had declined, to Rs 1,738.13 crore yoy for the fourth quarter, from Rs 1997.75 crore. The company said that its expenses had increased marginally. JSL's share price has been trending up since May 11.
