Indoco Remedies has posted health growth in net profit during the third quarter ended December 2017 and its net profit went up by 28.8 per cent to Rs.22.66 crore from Rs.17.59 crore in the corresponding period of last year. Its net sales, however, improved marginally to Rs.274.19 crore from Rs.272.21 crore. EPS improved to Rs.2.46 from Rs.1.91 in the last period. R&D expenditure increased to Rs.14.39 crore from Rs.13.82 crore.
Aditi Panandikar, managing director, said, “The third quarter saw progressive growth in the Indian business. On the international business front, Europe and Emerging markets too showed encouraging sales trend. Operating margins improved with EBIDTA at 16 per cent of sales and growth in PAT at 29%, over same quarter last year.”
The overall performance during the nine months period remained under pressure. Its net sales declined by 5.3 per cent to Rs.758 crore from Rs.801 crore and its net profit declined sharply by 65.2 per cent to Rs.20.69 crore from Rs.59.51 crore. Thus, EPS declined to Rs.2.25 from Rs.6.46 in the last period. Its domestic sales declined by 2.1 per cent to Rs.471.18 crore and its exports declined sharply by 10.3 per cent to Rs.287 crore from Rs.320 crore.
The company ahs 9 manufacturing facilities, 6 of which are for FDFs and 3 for APIs, supported by R&D centre and CRO facility. It has presence in 55 counties and employs more than 6,000 people. It has tie-ups with large generic international companies like Watson, USA and ASPEN, South Africa
Aditi Panandikar, managing director, said, “The third quarter saw progressive growth in the Indian business. On the international business front, Europe and Emerging markets too showed encouraging sales trend. Operating margins improved with EBIDTA at 16 per cent of sales and growth in PAT at 29%, over same quarter last year.”
The overall performance during the nine months period remained under pressure. Its net sales declined by 5.3 per cent to Rs.758 crore from Rs.801 crore and its net profit declined sharply by 65.2 per cent to Rs.20.69 crore from Rs.59.51 crore. Thus, EPS declined to Rs.2.25 from Rs.6.46 in the last period. Its domestic sales declined by 2.1 per cent to Rs.471.18 crore and its exports declined sharply by 10.3 per cent to Rs.287 crore from Rs.320 crore.
The company ahs 9 manufacturing facilities, 6 of which are for FDFs and 3 for APIs, supported by R&D centre and CRO facility. It has presence in 55 counties and employs more than 6,000 people. It has tie-ups with large generic international companies like Watson, USA and ASPEN, South Africa