Mastek posts net profit of R7.6 crore
Mid-cap information technology solutions player, Mastek, posted a net profit of Rs 7.6 crore for the quarter ended December, against a net loss of Rs 1.52 crore in the corresponding quarter last year. Revenue grew 31% at Rs 230 crore from Rs 176 crore reported in the same quarter last year. Mastek added three new clients during the quarter under review. “What gives me pleasure is the strong order backlog of R538 crore, which is a historical high,” said Sudhakar Ram, chairman and group CEO, Mastek.
Alembic Pharma Q3 net up 9.13% at R48.27 crore
Alembic Pharmaceuticals on Monday said its net profit rose by 9.13% to R48.27 crore for the third quarter ended December. The company had posted net profit of R44.23 crore in the same period of previous fiscal, Alembic said in a filing to the BSE. Net sales of the company declined, however, to R372 crore during the quarter, from R383 crore during the same period of the 2011-12 fiscal. Alembic said its domestic formulation sales rose to R228 crore during the third quarter ended December, from R199 crore during the same period of the previous fiscal.
Tata Capital to fund Nissan arm customers, fleet owners
Nissan’s national sales company in India – Hover Automotive India - has announced a new preferential financier agreement with Tata Capital Financial Services, making Nissan’s growing model range even more accessible to potential customers. Hover Automotive India (HAI) is Nissan’s sole and exclusive Indian distributor. The tie-up with Tata Capital — one of India’s leading financial solutions providers — will prove attractive to both private and fleet customers and dealers, nationwide. Under the terms of the agreement, Tata Capital will offer attractive 100% ex-showroom funding on the purchase of Nissan models and salaried customers can avail loans without any proof of income.
Trivitron, BioSystems set up JV for IVD reagents
Trivitron, one of the leading medical equipment manufacturer in India, has joined hands with BioSystems of Spain to set up a joint venture facility called Biosystems Diagnostics (BDPL) to manufacture In Vitro Diagnostics reagent in India for emerging markets. Indigenous manufacturing