The Hindu Business Line : Ind-Swift Q1 net rises 106 pc

IND-SWIFT Laboratories Ltd has registered a 106 per cent increase in net profit to touch Rs 2.85 crore for the first quarter ended June 30, on the back of higher exports. Sales grew by 15 per cent to touch Rs 44 crore compared to Rs 38.19 crore registered during the first quarter of last year.

According to Mr V.K. Mehta, Joint Managing Director, "The company has posted impressive results despite higher Research and Development and staff cost related to regulated markets. With exports starting to the regulated markets, Ind-Swift has marked its presence among the top pharmaceutical companies who have capabilities to comply with the stringent regulatory standards."

The exports during the quarter saw a jump of 52.50 per cent. The company has already started exporting its products to the regulated markets besides exports to the soft regulated and non-regulated markets. Ind-Swift has also started the process of regulatory filings - it has already filed process patents for two of its products and is in the process of developing non-infringing processes for around five to six new molecules.

The company is also in talks with several players in Europe and the US for supply contracts. ISLL has already tied up with a couple of companies in Europe, while discussions are on with several generic players for the US markets as well for the supply of various products post-patent expiry.