Express Pharma

Indoco Remedies Q3 PAT grows by 53 per cent

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Net revenues during the quarter under review grew by 13 per cent to Rs 212.9 crores as against Rs 188.4 crores for the same period last year

Indoco Remedies has reported a 53 per cent growth in Profit After Tax (PAT) during third quarter of FY15 at Rs 21.6 crores compared to Rs 14.1 crores in the corresponding quarter last year. Net revenues during the quarter under review grew by 13 per cent to Rs 212.9 crores as against Rs 188.4 crores for the same period last year.

The company’s domestic formulation business has introduced three new products taking the tally of new products launched to 17, till December 2014. International business revenues grew by 22.9 per cent at Rs 83.3 crores as against Rs 67.7 crores for same quarter last year. In the regulated markets, contribution of Europe is 35.9 per cent, followed by US at 31.7 per cent.

Earnings per share in October 2014 to December 2014 rose to Rs 2.35 from Rs 1.53 in the same quarter last year.

Suresh G Kare, Chairman, Indoco Remedies said, “The company has consistently improved the EBIDTA margins quarter after quarter and is hopeful to continue this trend further. For the third quarter, EBIDTA margin to net sales is at 20.1 per cent at Rs 42.7 crores as against 15.8 per cent at Rs 29.8 crores during the same quarter last year. Well laid down strategies and timely execution thereof has helped us in delivering a good and consistent performance.”

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