Manorama Industries YoY PAT up by 22%

Mumbai : Manorama Industries, one of the leaders in Specialty Butters, Fats and Cocoa Butter Equivalents (CBE), announced its results on June 29 where it announced a YoY revenue increase of 83.83%, EBITA increase of 55.99% and PAT increase of 22.43%. On an H2 comparison basis while its revenue increased 37.65%, the PAT saw a decline of 21.29%.  As stated by the management in the release uploaded on the exchanges they are confident that in FY20-21 their operations will be smooth and they anticipate an increase in production and revenue that will set off the increased costs. Commenting on the performance, Vinita Saraf, Managing Director says, “We are tapping growth opportunities and the positive performance during this year was led by a strong growth in sales. The Bikroni plant has started full commercial production of all its units including the key process of fractionation. We are also in the process of considering making our Africa venture a wholly owned subsidiary of the company. NT

Honda introduces all new Livo BSVI

Mumbai: Taking another step towards a greener future and taking #AQuietRevolution forward, Honda Motorcycle and Scooter India Pvt Ltd launched its stylish 110cc motorcycle, the all new Livo BSVI. The all new Livo BSVI is designed and built for next era of transformation. At the heart of Livo BSVI ticks Bharat Stage VI compliant Honda’s trusted 110cc PGM-FI HET (Honda Eco Technology) engine, boosted by Enhanced Smart Power (eSP). All new Livo BSVI brings future technology to the present, bringing India at par with the global standards – the Sophisticated, Precise and Sensitive – Enhanced Smart Power (eSP). As another industry first, Honda is also offering a special 6-year warranty package NEW (3 years standard + 3 years optional extended warranty) on Livo BSVI.  Motorcycle is available in two variants – Drum and Disc in four stunning colours – Athletic Blue Metallic, Matte Axis Gray Metallic, Imperial Red Metallic and Black. The price for Livo BSVI starts from Rs 69,422 (for Drum version, ex-showroom Jaipur, Rajasthan). NT

Hetero announces the approval and launch of first generic ‘COVIFOR’ (Remdesivir)

Hyderabad:  Hetero, one of India’s leading generic pharmaceutical companies, announced that it has received the manufacturing and marketing approval for the investigational antiviral medicine ‘Remdesivir’ from the Drug Controller General of India (DCGI) for the treatment of COVID-19. Hetero’s generic version of Remdesivir will be marketed under the brand name ‘COVIFOR’ in India. The drug ‘Remdesivir’ has been granted approval by DCGI for the treatment of suspected or laboratory-confirmed cases of COVID-19 in adults and children, hospitalized with severe symptoms of the disease. COVIFOR (Remdesivir) will be available in 100 mg vial (injectable) which has to be administered intravenously in a hospital setting under the supervision of a healthcare practitioner. The product is launched under a licensing agreement with Gilead Sciences Inc. to expand access to COVID-19 treatment in low and middle-income countries. NT

TVS Motor Company registers sales of 1,98,387 units in June 2020

Hosur:  TVS Motor Company registered sales of 1,98,387 units in June 2020 as against 2,97,102 units registered in the month of June 2019. TVS Motor Company resumed its operations in India in a graded manner across all its factories in Hosur, Mysuru, and Nalagarh.  The market is opening up gradually post the lockdown, and we are witnessing a positive uptake in both domestic retail as well as exports. The company faced supply chain constraints in June, however, the company has undertaken various countermeasures, some of which have started yielding results in June itself. The company is expecting to overcome these in the month of July. The company’s total exports registered sales of 53,123 units in the month of June 2020 as against 69,900 units in June 2019.  Two-wheeler exports registered sales of 46,259 units in June 2020 as against 57,182 units in June 2019. Three-wheeler of the company registered sales of 7,311 units in June 2020 as against 13,641 units in June 2019.  During the first quarter of the current financial year, two-wheelers posted sales of 2.55 lakh units as against sales of 8.84 lakh units in the first quarter FY 19-20.  NT