Morepen Labs’ Net Profit Rises by 21% in Q3' FY 2019-20 Led by a Stable Performance in All Business Segments

▴ Morepen Labs Net Profit Rises by 21 in Q3 FY 201920 Led by a Stable Performance in All Business Segments
The bulk drugs (API) segment contributed around 58 per cent to the company’s total turnover in Q3' FY 2019-20. The company’s expanding domestic reach assisted in achieving a higher topline in Q3' FY 2019-20.

Morepen Laboratories Ltd. has reported a 21.3 per cent rise in its Net Profit after Tax (Consolidated) in Q3' FY 2019-20 at Rs. 10.81 crore as compared to Rs. 8.91 crore net profit registered in the corresponding quarter of the previous fiscal. Net sales Revenue (Consolidated) during Q3' FY 2019-20 stood at Rs. 226.91 crore, registering a growth of 8.9 per cent as compared to the Net Sales Revenue of Rs. 208.46 crore in the corresponding quarter of the previous fiscal.

Total Revenue (Consolidated) in Q3' FY 2019-20 rose to Rs. 234.65 crore (Rs. 214.59 crore) registering a jump of 9.4 per cent. EBIDTA was up by 3.3 per cent in Q3’ FY 2019-20 at Rs. 19.90 crores (Rs. 19.27 crores) and Cash profit during the same period was up by around 2.8 per cent at Rs. 19.36 crores (Rs. 18.84 crores). The Net Profit Before Tax (Consolidated) posted a growth of 19.7 percent in Q3' FY 2019-20 at Rs. 10.82 crore compared to Rs. 9.04 crore in Q3 of previous fiscal.

The bulk drugs (API) segment contributed around 58 per cent to the company’s total turnover in Q3' FY 2019-20. The company’s expanding domestic reach assisted in achieving a higher topline in Q3' FY 2019-20. API sales in the domestic market registered a growth of 76 per cent at Rs. 42.56 crorein Q3FY2019-20. Domestic sales for Atorvastatin Calcium rose by 146 percent at Rs. 3.38 crore and Montelukast by 70 percent at Rs. 16.78 crore in Q3' FY 2019-20 vis-a-vis the corresponding quarter of the previous fiscal. API’s Export sales registered a decline of 7 per cent at Rs. 89.39 crore in Q3' FY 2019-20. Export sales for Rosuvastatin rose by 171 percent at Rs. 10.83 crore and Loratadine by 25 percent at Rs. 39.24 crore in Q3' FY 2019-20 vis-a-vis the corresponding quarter of the previous fiscal.This was disclosed by Mr. Sushil Suri, Chairman and Managing Director, Morepen Laboratories Ltd., after the financial results board meeting for Q3 and nine months ended December 31st, 2019 .

“Our investment in the manufacturing of medical devices in India has already started showing results. Company is all geared up for increasing its focus on backward integration and capacity enhancement in order to reduce its dependency on imports from across the globe, particularly China, in the coming years,” Mr. Suri added.

Tags : #Morepanlabs #Q3results #21riseinprofit

About the Author


Team Medicircle

Related Stories

Loading Please wait...
-Advertisements-

Trending Now

China ropes in more countries for its COVID-19 vaccine trialsSeptember 29, 2020
Antarctica is still free of Covid-19. Can it stay that way?September 29, 2020
Over 200 travellers from India barred from Dubai flight over invalid Covid-19 testsSeptember 29, 2020
Netherland focuses on more stricker rule to comabt COVID-19 September 29, 2020
WHO aims to provide 120 Million rapid Coronavirus tests for poorer statesSeptember 29, 2020
UN chief on 1 Million COVID-19 deathsSeptember 29, 2020
Bahrain reports 585 Covid-19 cases, 777 recoveriesSeptember 28, 2020
Bringing hepatitis C testing and treatment to underserved communities in MadridSeptember 28, 2020
Polish doctor recovers from severe COVID-19 through rehabilitationSeptember 28, 2020
WHO supports rehabilitation of COVID-19 and other patients in UkraineSeptember 28, 2020
WHO work with migrant camps in Greece September 28, 2020
US employers being sued for COVID-19 infection spread September 28, 2020
Global Coronavirus deaths cross 1 Million markSeptember 28, 2020
Highly effective antibodies identified, may lead to passive COVID-19 vaccineSeptember 26, 2020
Europe has a lot of work to do to prevent COVID-19 transmission :WHOSeptember 26, 2020
Two million Coronavirus deaths : WHO September 26, 2020
Johnson & Johnson COVID-19 vaccine produces strong results September 26, 2020
New York to permanently switch to outdoor dining amid pandemicSeptember 26, 2020
WHO gave blessing for Coronavirus vaccine emergency use programme: ChinaSeptember 26, 2020
US surpasses 7 Million Coronavirus casesSeptember 26, 2020