The Hindu Business Line : Venus Q4 net jumps to Rs 1.5 cr

VENUS Remedies Ltd has reported a jump in profit after tax at Rs 1.48 crore for the fourth quarter ended March 2005 from Rs 0.37 crore in the year-ago period.

Total income for the quarter was Rs 10.82 crore (Rs 6.17 crore).

For the full year the company's profit after tax moved up to Rs 4.1 crore from Rs 1.26 crore. Total income was Rs 34.48 crore (Rs 23.91 crore).

The company, which is into formulations, said its focus is to develop new high-value, low-volume formulations and their commercial launch. During 2004-05, it launched 10 new formulations developed in-house in anti-cancer, cephalosporins and FDC segments.

"Venus has a number of other new formulations in various stages of development in its R&D section, including some under clinical trials, for which patents will be filed shortly," the company said in a news release.

Negotiations are in process with three multinational companies, for global launch of a new, innovative formulation developed by the company.

The company is setting up a manufacturing facility in Baddi, Himachal Pradesh, with eight dedicated sections for catering to global markets of super speciality segments of the pharma industry.

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