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.