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