Parabolic Drugs, a vertically integrated API manufacturer and exporter in India, announced its unaudited results for the first quarter (Q1) ended June 30, 2012. The company’s net sales increased by 64 per cent to Rs 305.2 crore as compared to Rs 186.2 crore in Q1 FY 12. Net profit at Rs 9.7 crore, impacted largely by the increased cost of imported raw materials. Earnings before interest, taxes, depreciation, and amortisation (EBITDA) at Rs 43.4 crore. The Board of Directors have recommended a dividend of 0.25 paisa per share.
Commenting on the performance, Vineet Gupta, Director, Parabolic Drugs, said, “It has been a mixed quarter for us. While the revenues have gone up substantially aided by growth in antibiotic range of products from the new capacities, the increase in raw material costs has impacted the margins. While antibiotics are currently driving the bulk of our business, our progress in life style drugs, formulations and contract research gives us sufficient confidence to be able to diversify the product portfolio in the current fiscal.”
EP News Bureau
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