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Tuesday, Jul 23, 2002

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Corporate Results - Pharmaceuticals

German Remedies first-quarter net up at Rs 4.1 crore

Our Bureau

MUMBAI, July 22

GERMAN Remedies Ltd has recorded a net profit of Rs 4.1 crore in the first quarter ended June 30, 2002, up 0.98 per cent, as against Rs 4.06 crore recorded in the same period of the previous quarter.

Net sales/income from operations rose to Rs 56.18 crore (Rs 48.83 crore), while the total expenditure was at Rs 49.09 crore (Rs 41.96 crore) in the period under review.

Interest stood at Rs 0.06 crore (Rs 0.14 crore), while depreciation was steady at Rs 1.66 crore. The profit before tax stood higher at Rs 6.43 crore (Rs 5.57 crore).

Zydus Cadila and its wholly owned arm, Recon Healthcare Ltd, had made an open offer for acquiring additional 44.8 per cent equity shares in German Remedies at Rs 300 per share from the public.

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