The Hindu Business Line : Strides net doubles

Bangalore, July 29 Strides Arcolab Ltd said its consolidated second quarter net profit rose 110 per cent year-on-year at Rs 11.58 crore (Rs 5.49 crore) for the period ended June 30, 2007.

Consolidated net sales grew 7.2 per cent at Rs 180 crore (Rs 168 crore). EBITDA margins were at 19.38 per cent (13.21 per cent).

For the six months ended same period, its net profit of Rs 17.65 crore (Rs 14.43 crore), an increase of 22 per cent. Net sales rose 14 per cent to Rs 350 crore (Rs 307 crore).

Other figures

On a standalone basis, the pharma company posted net profit of Rs 10.18 crore, a growth of 109 per cent over Rs 4.80 crore year-on-year. Net sales grew 7 per cent to Rs 107 crore (Rs 100 crore).

H1 net profit of Rs 17.94 crore (Rs 14.28 crore) saw 26 per cent rise. Net sales grew 4 per cent to Rs 117 crore (Rs 108 crore) year-on-year.

US Operations

“All key business divisions’ performances are in line while the US operations continue to disappoint with poor capacity utilisation,” he said.

A special committee formed by the board will review and recommend course corrections on the US operations over the next three months.

In the sterile pharmaceutical business the approval of its first injectable ANDA (abbreviated new drug application) for Ketorolac was a key milestone.