The Indian unit of Netafim Irrigation, a smart-drip and micro-irrigation specialist for farmers, won a R381 crore ($62 million) water project contract in Karnataka. The company will build an automated water pipeline network to more efficiently drip-irrigate about 29,000 acres (11,800 hectares) of land in the Bagalkot area of Karnataka, its largest in India, Netafim said. Netafim said it will build the project with partner Megha Engineering and Infrastructure.

Novartis India Q3 net falls 47% to R15.23 crore

Novartis India?s third-quarter net profit fell 47.48% to R15.23 crore year-on-year as reduction in selling prices of some key products due to the amended drug pricing control order continued to have a significant adverse impact on the revenue of the pharmaceutical company. The company said that depreciation of the rupee also impacted its profits. It reported net sales of R218.54 crore for the quarter ended December, a fall of 4.3% y-o-y. Total income from over-the-counter products grew 16.7% y-o-y to R37.7 crore while animal health business grew 17% y-o-y to register total income of R28.1 crore.

Mastek posts 22% rise in net at R18.3 crore

IT solutions provider Mastek has reported a 22% sequential rise in its net profit for the quarter ended December 2013. The net profit for the quarter stood at R18.3 crore, against R15.1 crore in the previous quarter. Mastek?s operating revenue was R240.2 crore during the quarter, against R236.7 crore during the sequential previous quarter reflecting an increase of 1.5% in rupee terms.

iProf Learning raises R55 crore in funding

iProf Learning Solutions, tablet-based education provider, said it has raised $9 million (R55 crore) in Series B funding, led by Daily Mail Group Information on behalf of its education subsidiary, Hobsons. Existing investors, Norwest Venture Partners and IDG Ventures India, also participated in this round. Including both the rounds, the firm has raised $15 million. Founded by Sanjay Purohit, an IIM-Ahmedabad and IIT Mumbai alumnus, iProf is known for delivering e-learning content in India and globally.

Arun Nanda appointed 3i non-executive chairman

PE firm 3i has appointed Arun Nanda as non-executive chairman of its Indian business. Nanda has over 40 years of experience with Mahindra & Mahindra. As infrastructure sector president, he led Mahindra & Mahindra?s entry into the infrastructure and services sector. Nanda is currently a non-executive chairman of Mahindra Holidays and Resorts India and is a non-executive chairman of Mahindra Lifespace Developers.

Global leather brands to take part in IILF

Over 90 foreign companies are expected to converge at the 29th edition of India International Leather Fair (IILF), being organised by the India Trade Promotion Organisation in Chennai from January 31 to February 3. It will be the biggest specialised leather show in South Asia. Armani, British Home Stores, Braciliani, Bata, Bugatti, Daniel Hector, Diechmann, Cole Hann, Guess, Harrods, Kenet, Cole, Marks and Spencers, Marco Polo, Maarc, Mercedezr, Nike, Pierre, Cardin, Reebok, Tommy, Walmart are participating in IILF 2014.