The Hindu Business Line : Matrix Labs clocks 73 pc rise in Q2 consolidated net

MATRIX Laboratories Ltd has said that it recorded growth of 88.92 per cent in net sales and 72.74 per cent in net profit on a consolidated basis for the second quarter of the current fiscal ended September 2005.

The net profit stood at Rs 43.69 crore on a consolidated net sales turnover of Rs 291.58 crore during the period.

However, on standalone basis, the company recorded a 26.93 per cent fall in net profit despite growth in net sales during the quarter under review. Profit after tax stood at Rs 30.65 crore (Rs 41.95 crore) on net sales of Rs 174.37 crore (Rs 162.47 crore).

The annualised earnings per share (EPS) on consolidated basis works out to Rs 11.68 on the paid-up equity capital of Rs 29.94 crore with a face value of Rs 2 per share.

The results include the performance of Docpharma NV to the extent of 95.5 per cent holding, and Explora Laboratories SA to the extent of 43 per cent holding, but does not include the proposed consolidation of Astirx Laboratories, FCC, and Mchem, the company said in a release on Thursday.

According to the company, the corresponding previous quarter had an exceptionally high profit due to supply of launch quantities of Citalopram to the US market.

For the half-year ended September 2005, the company reported a net profit of Rs 55.94 crore on net sales of Rs 328.70 crore on standalone basis.

During this period, the company spent Rs 34.20 crore on R&D (both capital and revenue expenditure), compared to Rs 10.20 crore earlier.

On Thursday, the company's scrip closed at Rs 175.95 on the BSE, an increase of 2.12 per cent, and at Rs 172.70 on the NSE, up 0.26 per cent. While 2.19 lakh shares changed hands on the BSE, the trade volume on the NSE stood at 16.29 lakh shares.

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