The Hindu Business Line : Dabur Pharma Q1 net zooms

New Delhi, July 26 Dabur Pharma has announced a huge growth in net profits at Rs 133.4 crore for the first quarter ended June 30, 2007. However, this includes the one-time gain of Rs 125.30 crore from the sale of the company’s non-oncology business to Alembic in April. Net profits of the corresponding quarter of the previous year were at Rs 6.63 crore.

According to the company, the hiving off of the non-oncology business was also reflected in the drop in sales to about Rs 74 crore for the quarter as against about Rs 81 crore reported during the corresponding quarter the previous year. “Otherwise sales have increased by 23.7 per cent during the first quarter as compared to the corresponding quarter the previous year,” said Mr Ajay K. Vij, CEO Dabur Pharma. The company operating margins were at 20.7 per cent, which compares to 12.9 per cent in the corresponding quarter.

Management change

The company also announced a change in management. Mr Anand Burman who will be succeeding Mr V.C. Burman as Chairman of Dabur India Ltd will now be Managing Director of the company. Mr Mohit Burman is the new Non-Executive Chairman of Dabur Pharma.

During the quarter, the oncology specialist, which sees 50 per cent of its revenues from global sales, filed two ANDAs in the US, taking its total to 10. This includes the Para IV filing for oxaliplatin, the generic version of Sanofi-Aventis’ registered oncology injectible, Eloxatin. The French pharma major filed a law suit against Dabur Pharma last month.

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Dabur Pharma Q1 net up 10.4%