Neuland Laboratories has reported a net profit of Rs 3.40 crore for the quarter ended September 30, a marginal increase from Rs 3 crore in the year-ago period. Its net income during the period was Rs 105 crore against Rs 118 crore during the corresponding quarter of last fiscal. Its total expenses came down to Rs 92.5 crore, from Rs 106 crore in the year-ago period.
D Sucheth Davuluri, CEO said: “While the timing of delivery of some late-quarter production impacted reported revenues this quarter, Neuland’s strategy of strengthening our product mix as we gradually ramp up our higher margin contract manufacturing business has enabled us to achieve greater profitability year-on-year.”