BANGALORE: STRIDES Arcolab Ltd has registered a 92.38 per cent rise in net profit at Rs 14.66 crore in the third quarter of the current fiscal against Rs 7.62 crore in the same period last year.
Total income during the quarter was Rs 88.72 crore (Rs 69.42 crore), registering 27.8 per cent growth.
The diluted EPS for the quarter was Rs 3.97 (Rs 2.26).
"Growth in income both from supplies and R&D from the regulated markets continues to be the key revenue and profit driver. Significant growth in Latin America, strengthening of the rupee and a better product mix have contributed to increase profits," according to a release. The company is among the world's top five soft gel capsule makers. Sales from dosage forms from India were affected in the third quarter due to the delay in start-up post-validation of its sterile facility. The plant has been fully commissioned and is operational, the company said.
The Strides group's consolidated net profit for the quarter was Rs 21.01 crore (Rs 8.36 crore), a growth of 147 per cent.
Consolidated income was Rs 138.68 crore (Rs 102.90 crore).