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News In Pictures: 21 April 09

Photo Credit :

Nasscom President Som Mittal, flanked by Pramod Bhasin (R), Chairman Nasscom and President & CEO Genpact India at the release of "Nasscom Perspective 2020" report in New Delhi on Tuesday. (PTI)


Hero Honda Motors, India's largest motorcyle maker, on Tuesday reported a 34.4 per cent rise in quarterly net profit, beating forecast, on higher sales and a reduction in raw material costs. Hero Honda, in which Japan's Honda Motor Corp holds a 26 per cent stake, said net profit rose to 4.02 billion rupees ($79.8 million) in the fiscal fourth quarter ended March from 2.99 billion rupees reported in the same period a year earlier. (Reuters)


Indian mid-cap drug firms are expected to report mixed profits for the quarter ended March as high interest costs are seen capping export gains from a weaker rupee, analysts said. A Reuters poll forecast a 22 per cent rise in net profit for Lupin to Rs 1.17 billion and a 17 per cent rise in net for Cadila Healthcare to Rs 606 million, while Jubilant's net is seen at 516 million, down 15 per cent. "It will be a subdued quarter for most companies," said Sarabjit Kour Nangra, VP-research, pharmaceutical at Angel Broking. "Interest costs, especially on foreign loans, would have an impact, as with the rupee's depreciation, interest liability rises." (Reuters)