Financial Daily from THE HINDU group of publications
Tuesday, May 04, 2004
Financial Daily from THE HINDU group of publications Tuesday, May 04, 2004 |
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Corporate Results
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Pharmaceuticals Ind-Swift Q4 net up 137 pc Our Bureau
NEW DELHI: Ind-swift Laboratories recorded a 36.62 per cent hike in net profits for the year ended March 31, 2004 to touch Rs 13.92 crore. Net sales increased by 118.9 per cent from Rs 178.28 crore to Rs 211.85 crore. For the fourth quarter, net profit grew by 137 per cent to touch Rs 4.99 crore from Rs 2.109 crore, while net sales rose 35 per cent. According to Mr V.K. Mehta, Joint Managing Director, "The major feature of this quarter has been the generation of revenues from contract research and manufacturing services, which contributed to 35 per cent of the bottomline." The company earned about Rs 1.6 crore from contract research services from its international and domestic clients. The company expects to finalise more such contracts in the near future. During the quarter, the company launched several new products and is also awaiting approvals for some other products. It is working on the therapeutic segments of cardiology, diabetes and neurology. Two new products each would be launched from these segments in the next financial year, while three products would be launched in the anti-cancer segment and one each in anti-asthmatic, anti-alcoholic and anti-diarrhoeal segments. To compete internationally, Ind-Swift is focusing on filing patents by developing non-infringing processes of finished dosage form based on novel drug delivery systems and developing non-infringing alternate manufacturing processes for active pharmaceutical ingredients.
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