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Our Bureau

MUMBAI: Sterling Biotech has reported a strong growth for the third quarter ended September 2004.

The company has clocked a net profit at Rs 18.19 crore, up 65.1 per cent over the corresponding quarter in the previous year. Net sales at Rs 104.03 crore have registered a 37.7 per cent growth over last year, a company communiqué said.

According to the company's Chairman, Mr Nitin Sandesara: "The performance is attributable to better capacity utilisation, cost cutting and enhanced realisations through enlarged global customer base. We believe that the present expansion project and enhanced product range, will widen the customer base further globally and emerge as a major player in global pharmaceutical gelatin industry."

The current quarter results reflect the streamlining of operations of the gelatin business at its Ooty unit (acquired from Rallis India), which were integrated from April 2004, the note said.

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