German company SQS Software, a specialist in software quality and software testing, will acquire a majority stake in the Chennai-based Thinksoft Global for R148 crore. It has signed a definitive agreement to acquire a majority of the outstanding shares of Thinksoft, a software testing company, for R260 per share. This represents 26% of the outstanding share capital of Thinksoft.
Automatic version of Grand i10 launched
Hyundai Motor India on Friday launched automatic version of its compact car Grand i10 in the country, with price starting at R5.64 lakh (ex-showroom Delhi). The company has launched two variants of Grand i10 with automatic transmission ? Grand Sportz AT and Grand Asta AT, priced at R5.64 lakh and R5.92 lakh, respectively (ex-showroom Delhi). ?We have conducted many product clinics and due to positive customer feedback the automatic transmission in Grand is introduced,? Hyundai Motor India senior vice-president (sales & marketing) Rakesh Srivastava said in a statement.
Aurobindo Pharma net rises 5.7% to R235 cr
Aurobindo Pharma?s consolidated net profit increased 5.7% to R235 crore in the second quarter ended September, compared with R222 crore in the same period last year. The company?s total income grew 27.6% to R1,913 crore, from R1,500 crore, posting a 30% growth in formulations sale and growth in active pharmaceuticals ingredients segment. Revenues from the formulations segment in the US increased 72% to R730 crore. The integrated business in generic formulations is auguring well to drive the operating performance of the company.
GE Shipping net almost doubles to R160.6 crore
GE Shipping?s net profit almost doubled to R160.6 crore during the July-September period, from R81.2 crore in the year-ago period. The total income of the company rose 21% to R839.1 crore, from R692 crore in the year-ago period.
Chambal Fertilisers net down 14% at R94.17 cr
Chambal Fertilisers and Chemicals on Friday posted a 14% drop in net profit at R94.17 crore in the second quarter of the current fiscal due to higher financial cost. The company had clocked net profit of R109.53 crore in the year-ago period, Chambal said in a filing to the BSE. The performance took a beating as the company?s financial cost increased to R43.51 crore in the quarter ended September from R25.70 crore in the same period last year. Chambal?s net income, however, increased to R2,490.27 crore from 2,341.76 crore in the year-ago period.
Rashtriya Chemicals net profit halves to R40.04 cr
State-run Rashtriya Chemicals and Fertilisers? net profit more than halved to R40.04 crore despite higher sales during the second quarter ended September. The company had clocked net profit of R82.87 crore in the July-September quarter of last fiscal, 2012-13. However, total income in Q2, 2013-14 increased by 10.35% to R1,820.03 crore, from R1,649.36 crore in the year-ago period, the company said in a filing to the BSE. RFC profits declined as expenses rose to R1,756.68 crore from R1,538.23 crore during the period under review.
Sun TV Q2 net increases 11.55% to R169.16 crore
Sun TV Network has reported a 11.55% growth in its net profit for the second quarter ended September to R169.16 crore, against R151.65 crore in the same quarter last fiscal. The revenue for the quarter grew 7.63% to R466.41 crore, compared with R433.3 crore in the corresponding quarter of last fiscal. The total income grew13.83% to R504.21 crore, against R442.95 crore in the same quarter last fiscal. During the quarter, Ebitda went up by 2.64% to R337.68 crore, against R329 crore in the same quarter last fiscal.
Westlife Development net decreases 88%
Westlife Development reported a 88% drop in net profit at R1 crore during the July-September quarter, from R8.8 crore in the year-ago quarter on the back of higher depreciation costs and operating expenses. Total revenue of the company rose 10% to R183.4 crore during the quarter, from R165.6 crore in the corresponding period last year.
RPower set to commission second Sasan unit
Reliance Power said on Friday that it has achieved the critical milestone of boiler light-up for commissioning the second 660 MW unit of the Sasan ultra-mega power project in Madhya Pradesh. The first unit was commissioned by the company in March. The private developer is investing over R20,000 crore to develop the Sasan UMPP, which is India?s largest power and coal mining project. The company has already started production from Moher and Moher-Almohri blocks allocated to it to meet the fuel requirement of the project on an assured basis.
