The Hindu Business Line : Matrix Labs Q3 net at Rs 100.5 cr

MATRIX Laboratories Ltd has reported a net profit of Rs 100.48 crore on sales of Rs 340.56 crore on consolidated basis for the third quarter of the current fiscal.

While the company made an operating profit of Rs 152.79 crore, a total amount of Rs 52.31 crore was provided for R&D, interest, depreciation & amortisation and tax on consolidated basis.

The annualised earnings per share (EPS) for the quarter on consolidated basis stood at Rs 14.14 (without annualising the EPS in respect of exceptional items). Excluding exceptional items, the annualised EPS works out to be Rs 9.91.

On standalone basis, the company's sales during the period increased by 19.59 per cent to Rs 198.61 crore. The net profit amounted to Rs 95.83 crore (including exceptional items) as against Rs 25.55 crore in the corresponding period of last fiscal.

The profit after tax includes an amount of Rs 63.37 crore (net of taxes) arising out of certain exceptional items that include sale of know-how, intangibles and investments including the transfer of one of the manufacturing facilities to a joint venture.

Excluding exceptional items, the standalone PAT for the quarter grew by 27 per cent to Rs 32.46 crore. The expenditure on R&D went up by 56.39 per cent to Rs 7.1 crore. The interest cost is also higher at Rs 2.58 crore (Rs 0.92 crore), while the provision for depreciation increased to Rs 5.89 crore (Rs 4.42 crore). The company made a tax provision of Rs 23.15 crore for the quarter (Rs 9.98 crore).

Docpharma revenues: Docpharma NV, the wholly-owned subsidiary, has recorded revenues of euro 26.44 million for the quarter under review (euro 24.56 million) and a profit of euro 1.85 million (euro 1.07 million).

In a press release here, the company said on consolidated basis the sales and net profit for the nine-month period ended December 2005 stood at Rs 799.94 crore and Rs 170.11 crore, respectively.

Since the consolidation exercise started in July 2005, the consolidated figures, in effect, pertain to the nine months performance of Matrix standalone, and a part of the six months performance of Docpharma NV and Explora Laboratories SA, the release said.

During the quarter, the company has completed the transfer of one of its manufacturing facilities to Astrix Laboratories Ltd, a 50:50 joint venture with Aspen Pharma, South Africa. Effective January 1, 2006, Matrix has acquired 50 per cent stake in Fine Chemical Corporation, South Africa.