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The Hindu
7 days ago
- Business
- The Hindu
Dr. Reddy's Q1 net inches up amid decline in generics sales to U.S.
Generic drugmaker Dr. Reddy's Laboratories' consolidated net profit for the June quarter increased marginally to ₹1,409.9 crore from Rs.1,392.4 crore year earlier as revenue from the all important U.S. market declined amid increased price erosion in certain key products. The net profit came on a more than 11% increase in total revenue from operations to ₹.8,572.1 crore (₹.7,696.1 crore), the results prepared as per Indian Accounting Standards (Ind AS) showed. Pricing pressure on cancer drug Lenalidomide is expected to intensify in the U.S. generics market, according to co-chairman and MD G.V. Prasad. He said this reaffirming the company's focus on strengthening the base business by delivery of our pipeline assets, improving overall productivity and business development.' On segment revenue, the company said global generics contributed ₹7,573.2 crore (₹.6,892.9 crore), while share of Pharmaceutical Services and Active Ingredients declined to ₹987.4 crore (₹1,047.2 crore). In a release, on the results prepared as per International Financial Reporting Standards (IFRS), Dr. Reddy's said revenue from the North America generics market at ₹3,410 crore was 11% lower a decline YoY of and 4% QoQ. The decline was primarily due to increased price erosion in certain key products, including Lenalidomide. Revenue from generics sales in Europe, India and Emerging Markets were higher year on year. The company's shares closed less than 1% higher at ₹1,247.55 each on the BSE.
Time of India
14-07-2025
- Business
- Time of India
Smartworks Coworking IPO: Issue subscribed 4.15 times on last day of bidding. What GMP indicates?
Tired of too many ads? Remove Ads Here's all that you need to know: Smartworks Coworking IPO subscription status What does Smartworks Coworking GMP indicate? Tired of too many ads? Remove Ads Should you apply for Smartworks Coworking IPO? Anand Rathi: Subscribe-Long term SBI Securities: Avoid Bajaj Broking: Subscribe for long term Smartworks Coworking listing Smartworks Coworking IPO details Tired of too many ads? Remove Ads The initial public offering (IPO) of Smartworks Coworking Spaces has been subscribed 4.15 times so far on Monday, the final day of the bidding process. The issue, which opened on July 10, closes today, with the shares of the company trading at a grey market premium (GMP) of 3.7% or Rs non-institutional investors (NIIs) drove the highest demand, subscribing to the issue by 8.33 times, making 1,84,79,448 bids against the 22,17,233 shares reserved for them. This was followed by the qualified institutional buyers (QIBs) at 4.5 times and retail investors, with a healthy subscription of 2.35 or Grey Market Premium, indicates the premium at which shares of an upcoming IPO are being traded in the unofficial or "grey" market ahead of their official listing on the stock example, the IPO price of Smartworks Coworking is Rs 387-407, and its GMP is Rs 17; this means the shares are being traded at Rs 424 in the grey market. GMP reflects investor sentiment and expectations about the listing price. However, it is unofficial, not regulated by SEBI, and can be speculative or or Grey Market Premium, is an unofficial and unregulated indicator that may not always be reliable. It is based on limited trades and market sentiment rather than actual company fundamentals. As it is largely driven by speculation, GMP can fluctuate significantly and often does not accurately reflect the true demand or the eventual listing price of the analysts at Anand Rathi believe that the IPO is fully priced and recommend a 'Subscribe-Long term' rating to the IPO. The brokerage firm states that at the upper price band, the company is valued at P/S of 3.3x with EV/EBITDA of 9.7x and a market cap of Rs 46,448 million post issue of equity Securities issues an 'Avoid' rating for the brokerage firm believes that companies like Awfis Space Solutions offer better investment opportunities within the coworking space, which is currently profitable and trades at FY25 EV/Adj. EBITDA of has become a leading provider of office experience and managed campus platforms, focusing on long-term contracts with MNCs. While it has seen top-line growth and positive cash EBITDA at the gross level, net losses have been reported due to provisioning under new accounting standards. The company operates with high lease liabilities from fixed-cost agreements across centers, leading to significant interest and depreciation expenses under Ind AS 116. This boosts EBITDA but puts pressure on net IPO opened for subscription on July 10 and closes today, on July 14. The allotment of shares is expected to be finalized on July 15, with the stock tentatively scheduled to list on both the BSE and NSE on July Day 1 of the bidding saw a relatively lukewarm start, demand picked up strongly on the final day, especially from institutional investors, suggesting growing confidence in the company's fundamentals and long-term prospects.'The strong traction from institutional and affluent investor segments positions the Smartworks IPO in the 'Hot' response category by market standards, particularly for a new-age commercial real estate player operating in the managed office space segment,' said Gaurav Garg of Lemonn Markets Coworking Spaces plans to raise Rs 576–583 crore through a combination of fresh issue and offer-for-sale (OFS). The IPO, open for bidding until July 14, is scheduled to list on the BSE and NSE on July 17. The offer includes a fresh equity issue worth Rs 445 crore and an OFS of 33.79 lakh company has fixed the price band for the IPO at Rs 387 to Rs 407 per share.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
Mint
10-07-2025
- Business
- Mint
TCS Q1 Results LIVE: TCS share price dips on weak profit growth expectations; all eyes on dividend
TCS Q1 Results LIVE: IT bellweather Tata Consultancy Services (TCS) will announce its Q1 results 2025 today, July 10. The company is expected to post muted revenue and profit growth in low single digits. Investors will focus on the management commentary, demand outlook, large deal wins, and total contract value. Additionally, the TCS board will also consider the declaration of an interim dividend to the equity shareholders. TCS share price was trading lower in intraday trade ahead of the Q1 results today. Follow updates here: 10 Jul 2025, 12:30 PM IST TCS Q1 Results Live Updates: TCS has fixed record date for its first interim dividend for the financial year 2025-26 (FY26) as July 16. 'The interim dividend, if declared, shall be paid to the equity shareholders of the Company whose names appear on the Register of Members of the Company or in the records of the Depositories as beneficial owners of the shares as on Wednesday, July 16, 2025, which is the Record Date fixed for the purpose,' the company said in a BSE filing 10 Jul 2025, 12:17 PM IST Board of Directors of Tata Consultancy Services Limited is scheduled to be held on Thursday, July 10, 2025, inter alia to: i. approve and take on record the audited standalone financial results of the Company under Indian Accounting Standards (Ind AS) for the quarter ending June 30, 2025. ii. approve and take on record the audited consolidated financial results of the Company and its subsidiaries under Ind AS for the quarter ending June 30, 2025; and iii. consider declaration of an interim dividend to the equity shareholders
Business Standard
17-06-2025
- Business
- Business Standard
Tanla Appoints Audit and Governance Expert Sunil Bhumralkar, Strengthening Board Oversight
VMPL Hyderabad (Telangana) [India], June 17: Tanla Platforms Limited (NSE: TANLA; BSE: 532790), a leading global CPaaS provider, today announced the appointment of audit and governance veteran Sunil Bhumralkar as an Independent Director. This strategic appointment signals the company's profound commitment to raising the bar for corporate governance as it continues its global expansion. Mr. Bhumralkar's stellar career spanning nearly four decades is distinguished by his deep expertise in assurance, financial reporting, and corporate governance. He spent over 20 years as a Senior Audit Partner at S R Batliboi & Associates LLP, an EY India member firm, where he led the Assurance practice for the Technology, Media, and Telecom (TMT) sector. Mr. Bhumralkar is widely respected for guiding leading Indian and global enterprises with his proficiency in Indian GAAP, Ind AS, IFRS, and internal controls. Currently, Mr. Bhumralkar also serves on the Board of other listed and unlisted entities. His contributions to regulatory bodies, including the Institute of Chartered Accountants of India's (ICAI) Auditing and Assurance Standards Board, reflect his role as a thought leader in the industry. "Sunil's expertise in audit and governance is a welcome addition to our Board. I believe his contributions will elevate our commitment to ethical practices through enhanced disclosures and greater transparency," said Uday Reddy, Founder Chairman & CEO of Tanla Platforms Limited. "I am honoured to join the Board of Tanla Platforms, a company at the forefront of innovation," said Sunil Bhumralkar. "I look forward to contributing to its exceptional governance framework and supporting the Board in its commitment to transparency, accountability, and creating sustainable stakeholder value." With Mr. Bhumralkar's appointment, Tanla further solidifies its dedication to world-class oversight, positioning the company for its next phase of growth with an unwavering focus on innovation and industry-leading governance. For more information, visit Tanla Newsroom. About Tanla Founded in 1999, Tanla Platforms Limited has revolutionized digital interactions by empowering users and enabling enterprises through its innovation-led SaaS business. With a unique enterprise and user-centric approach, Tanla has emerged as a leader in the CPaaS industry dominating data security, privacy, spam, and scam protection. Headquartered in Hyderabad (India), Tanla is the preferred partner for over 2,000 enterprises across various industries, including global tech giants like Google, Meta, and Truecaller. Tanla is recognized as a 'Visionary' in the 2024 Gartner® Magic Quadrant™ for CPaaS and is ranked among the "1000 High-Growth Companies in Asia Pacific" by the Financial Times. Tanla is publicly traded on the NSE and BSE (NSE: TANLA; BSE: 532790) and is included in prestigious indices such as the Nifty 500, BSE 500, Nifty Digital Index, FTSE Russell, and MSCI. Safe Harbor This information contains "forward-looking" statements, and these statements involve substantial risks and uncertainties. All statements other than statements of historical fact could be deemed forward-looking, including, but not limited to, expectations of future operating results or financial performance, market size and growth opportunities, the calculation of certain of our key financial and operating metrics, plans for future operations, competitive position, technological capabilities, and strategic relationships, as well as assumptions relating to the foregoing. Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified. In some cases, you can identify forward-looking statements by terminology such as "expect," "anticipate," "should," "believe," "hope," "target," "project," "plan," "goals," "estimate," "potential," "predict," "may," "will," "might," "could," "intend," "shall," and variations of these terms or the negative of these terms and similar expressions. You should not put undue reliance on any forward-looking statements. Forward-looking statements should not be read as a guarantee of future performance or results and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved, if at all. Forward-looking statements are subject to several risks and uncertainties, many of which involve factors or circumstances that are beyond our control. Our actual results could differ materially from those stated or implied in forward-looking statements due to several factors. If the risks or uncertainties ever materialize or the assumptions prove incorrect, our results may differ materially from those expressed or implied by such forward-looking statements. We assume no obligation and do not intend to update these forward-looking statements or to conform these statements to actual results or to changes in our expectations, except as required by law. This information involves many assumptions and limitations, and you are cautioned not to give undue weight to these estimates. We have not independently verified the accuracy or completeness of the data contained in these industry publications and other publicly available information. Accordingly, we make no representations as to the accuracy or completeness of that data nor do we undertake to update such data after the date of this document.
Business Standard
11-06-2025
- Business
- Business Standard
eYantra Ventures Ltd concludes board meeting to declare audited financial results for FY 2024-25
VMPL Hyderabad (Telangana) [India], June 11: eYantra Ventures Ltd (BSE: 512099), reported its standalone and consolidated financial results according to Ind AS for the quarter and financial year (FY) ending March 31, 2025. Consolidated revenue grew by 95% at Rs. 32.89 Crores during FY 2024-25, led by performance both the business divisions of the company i.e. Merchandising and IT Services. The Board of Directors, in its meeting held on 30th May 2025, approved the Standalone and Consolidated Audited Financial Results for the quarter and financial year ended 31st March 2025. Strong Group-Wide Business Performance The consolidated operations of eYantra Group which includes eYantra Ventures Ltd, Prismberry Technologies Pvt. Ltd, eYantra Ventures FZE (UAE) achieved a total business turnover of Rs. 32.89 Crores in FY 2024-25, a remarkable 95% growth over the previous year's Rs. 16 Crores. This growth reflects the Group's multi-sector presence spanning B2B merchandise and IT services. eYantra group has business operations in multiple cities across India and other geographies including UAE and USA. During FY2025, eYantra Ventures Ltd invested in Neuro and Spine Associates Pvt Ltd (NASA) by securing a 38.65% equity stake as of 31st March 2025. Focused on neurosciences, spine care and orthopaedics, NASA operates in a high-potential segment within India's healthcare landscape. In line with Indian Accounting Standards (IND-AS 28), the investment is being accounted for as an associate and therefore is not consolidated under IND-AS 110 for the FY 2024-25. NASA currently has 2 hospitals in Hyderabad and Vijayawada with a combined capacity of 180 beds. During FY 2024-25 the company raised Rs. 15 crores through private placement by way of preferential issue of equity shares to fund various objectives including working capital requirements & pursuing strategic investments.
