Tech Mahindra, Indias fifth-largest software services provider, will increase local hiring in the United States and Europe as it seeks to become a more international partner to its customers, chief executive CP Gurnani said. I strongly believe that any company that only depends on the India-centric outsourcing model is only counting days, Gurnani told Reuters in Davos on Tuesday.
Rallis India third quarter net at R22.03 crore
Rallis India, a Tata enterprise, posted a net profit (after minority interest) of R22.03 crore for the third quarter compared with R7.66 crore a year ago. Net sales registered a growth of 7% at R339.81 crore compared with R317.65 crore during Q3 of the previous year. V Shankar, MD & CEO, said the companys focus and activities around farmer relationships and brands helped achieve the growth.
Sun Pharma Advanced Research net loss at R24 cr
Sun Pharma Advanced Research Company on Thursday said its net loss widened to R24.09 crore for the third quarter ended December. The company had posted a net loss of R17.90 crore during the same period of previous fiscal, Sun Pharma Advanced Research Company said in a BSE filing.
Total income of the company declined to R4.22 crore during the quarter as against R4.51 crore during the same period of 2011-12.
Prism Cement Q3 loss at R54 crore
Prism Cement on Thursday reported a loss of R54 crore in the third quarter ended December, 2012 due to poor demand for the building material, high power and raw material costs. The firm, which has interests in areas like cement, ready-mix-concrete and tiles, had clocked R23 crore net profit in the October-December quarter of the last fiscal, it said in a BSE filing.
Kaizen PE, Bertelsmann to invest R22 cr in Authorgen
Education-focused Kaizen Private Equity and Germany-based media company, Bertelsmann, will together invest R22 crore in Authorgen, the online and e-tutoring subsidiary of education service provider Educomp Solutions. Authorgen operates WizIQ.com, a web-based platform for education service providers to teach live and online in a free virtual classroom. Over 150,000 teachers and 2 million learners currently use WizIQs elearning services.
Lupin gets USFDA nod to market Teva generic
Lupin said its subsidiary Lupin Pharmaceuticals got the final approval for its Levonorgestrel Tablets USP, 0.75 mg from the USFDA to market a generic version of Teva Branded Pharmaceutical Products R&Ds Plan B Tablets, 0.75 mg. The drug is an emergency contraceptive. Plan B Tablets had annual US sales of around 81.1 million (IMS MAT Sept 2012 sales). Lupin entered the US oral contraceptives (OC) market in September 2011 and has the largest OC pipeline for the US market, with 32 filings with USFDA and has received eight approvals so far.
TAFE bags automobile excellence award
Chennai-based tractor major, Tractors and Farm Equipment (TAFE), has won the manufacturing supply chain operational excellence automobiles award in the second Asia Manufacturing Supply Chain Summit. The Asia Manufacturing Supply Chain Summit is a dedicated and comprehensive manufacturing supply chain event in the Asia region. The summits advisory council and an independent research agency decide the final set of awards for key performers under various categories, said a release from the company.
50% factories send NHW waste to landfill: Unilever
Anglo-Dutch consumer goods company, Unilever, on Thursday announced that more than 50% of all its factories have achieved the goal of sending no non-hazardous waste (NHW) to landfill in 2012. This was achieved whilst the company reported annual sales of 51 billion up from 40 billion when Unilever set out its new vision of doubling the size of its business whilst reducing its environmental impact. Unilever has already reached the milestone of 100% of sites sending zero NHW to landfill in 18 countries. This includes 30 factories and sites of HUL in India which have become 100% zero non-hazardous waste to landfill sites.
Wipro Consulting Services head passes away
Kirk Strawser, the head of Wipro Consulting Services, passed away after a brief illness. A statement issued by the company said, Wipro is deeply saddened to announce that Kirk Strawser, managing partner, Wipro Consulting Services passed away in the US on Wednesday after a brief illness. Kirk, who joined us in 2008, was an integral part of Wipros senior management team. His energy and passion played a pivotal role in building our consulting business. Our thoughts are with his wife Pam and two daughters during this difficult time.