Tata Boeing Aerospace to make 737 vertical fin structures in Hyderabad
Boeing on Friday announced the addition of a new production line at its joint venture, Tata Boeing Aerospace Limited (TBAL) in Hyderabad, to manufacture complex vertical fin structures for 737-family of airplanes. “Spread over 14,000 square meters, the state-of-the-art facility has been producing aero-structures for Boeing’s AH-64 Apache helicopter, including fuselages, secondary structures, and vertical spar boxes for customers worldwide,” Boeing said a statement. “Boeing today announced addition of a new production line at its joint venture, Tata Boeing Aerospace Limited (TBAL) in Hyderabad, Telangana, to manufacture complex vertical fin structures for 737-family of airplanes,” the statement said. KT Rama Rao, Telangana Municipal Administration and Industries Minister said, “This is a noteworthy step in the growth of India’s aerospace and defence manufacturing.”
“Telangana is an established hotbed for India’s defence and aerospace industry supported by a robust ecosystem, including a large pool of skilled and industry-ready work-force. I congratulate Boeing and Tata for this milestone,” he added. Salil Gupte, president of Boeing India said that the latest development is an example of Boeing’s commitment towards co-development of integrated systems in aerospace and defence in India.
Zydus Cadila’s net profit up 41% in Q3 to Rs 527 crore
Pharmaceutical major Zydus Cadila said on Friday its profit after tax was up by 41 per cent to Rs 527 crore in Q3 FY21 as compared to the corresponding quarter of previous year. Consolidated revenues moved up by 4 per cent to Rs 3,796 crore consolidated net sales by 6 per cent to Rs 3,754 crore. Earnings before interest, depreciation and tax (EBIDTA) were up by 16 per cent to Rs 807 crore. The company’s business in India, which comprises human health formulations business, consumer wellness business and animal health business posted 20 per cent growth in the quarter ended December 2020 with revenues of Rs 1,643 crore. Human health formulations business in India grew by 21 per cent, consumer wellness business by 16 per cent and animal health business by 17 per cent. US formulations business registered revenues of Rs 1,603 crore during the quarter. The company filed 10 additional abbreviated new drug applications (ANDAs) with the US Food and Drug Administration, taking the cumulative number of filings to 410, and received nine new product approvals (including four tentative approvals). During the quarter, the company launched the oral anti-diabetic agent Dapaglyn (Dapagliflozin) in India for patients suffering from chronic obstructive pulmonary disorder. Zydus Cadila launched Forglyn.