Express Pharma

Morepen Laboratories posts 25% rise in its net profit in FY 2017-18

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The company posted a net profit of 23.63 crore

Morepen Laboratories has reported a 25 per cent rise in its consolidated net profit at 29.59 crore for the financial year 2017-18. The net profit in the previous financial year i.e. FY 2016-17 stood at 23.63 crore. The consolidated net sales revenue for the whole year stood at 598 crore registering a marginal increase of 1.9 per cent over previous year’s sales of 586.41 crore.

During FY 2017-18, domestic sales were up by 21.3 per cent at 414 crore and export sales were down by 25 per cent at 183.66 crore. EBIDTA in FY 2017-18 increased by around 5 per cent at 68.45 crore, annual interest cost fell by 43 per cent at 4.36 crore and cash profit increased by around 11 per cent at 64.09 crore. The company aims to become a zero debt company by June-July’ 2018. Blood Pressure Monitors and Blood Glucose Monitors recorded highest growth on annual basis @ 75 per cent and 38 per cent respectively. The combined sales revenue of Blood Glucose Monitors and Blood Pressure Monitors in FY 2017-18 increased to 86.57 crore as compared to 59.26 crore in the previous fiscal, registering a growth of 46 per cent. The company has touched a base of two million installations of Glucometers in FY 2017-18 and sold 68 million strips during the year against 48 millions of last year.

This was disclosed by Sushil Suri, Chairman and Managing Director, Morepen Laboratories , after the Q4 and FY 2017-18 results board meeting in New Delhi recently.

 

 

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