Elder Pharmaceuticals Ltd today said its consolidated net profit rose by 21.97 per cent to Rs 23.59 crore for the second quarter ended September 30, due to new product launches and international alliances.
The company had posted a net profit of Rs 19.34 crore during the same period of previous fiscal, Elder Pharma said in a statement.
Net sales of the company rose to Rs 404.06 crore during the second quarter against Rs 331.08 crore in the same period of 2011-12 fiscal.
“The various international alliances of the company, new manufacturing facilities, launch of newer products, penetration into rural and semi-urban markets and strong growth in the traditional products have contributed to the company’s better working,” the company said.
For the six months ended September 30, 2012, the company posted a net profit of Rs 41.64 crore against Rs 39.46 crore in the same period of previous fiscal.
During the quarter under review, the company launched eight new products, including antibiotic drug Moclawin and digestive enzyme Enzar HS.
Elder Pharma has presence in various niche therapeutic segments, including women’s healthcare and nutraceuticals.
Shares of Elder Pharma today closed at Rs 294 on the BSE, up 1.50 per cent from its previous close.