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Hyderabad, July 28

Matrix Laboratories Ltd’s net profit decreased 20 per cent at Rs 26.9 crore in the first quarter ended June 30, 2007 against Rs 33.8 crore in the comparable period of last fiscal. The sales grew marginally to Rs 447 crore from earlier year quarter’s Rs 442.2 crore. While the depreciation had gone up to Rs 14.9 crore (Rs 13.7 crore), the interest and provision for taxes had increased to Rs 20.8 crore (Rs 15.7 core) and Rs 10.8 crore (Rs 2.5 crore), respectivel y. The R&D spending stood at Rs 29.2 crore, a 65 per cent increase over Rs 17.7 crore due to increased activity in the finished dosage development and filings.

— Our Bureau

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