Hyderabad-based Matrix Laboratories has posted a net profit of Rs.33.41 crore for the quarter ended December, as against Rs.30.81 crore registered for the corresponding period last fiscal. The net sales have increased by 80 per cent to Rs.138.45 crore from Rs.76.8 crore.
The company’s profit and sales grew from Rs.32 crore and Rs.136.42 crore respectively during the quarter ended September, to Rs.33.4 crore and Rs.138.45 crore.
The board of directors of the company has approved an interim dividend of Rs.5 per share and fixed the record date as February 3. The board has also approved preferential issue of 22,50,000 equity shares of Rs.10 each at a price of Rs.1500 to Newbridge Investments and Maxwell (Mauritius) Pte Ltd.
For the nine months ended December, Matrix posted a net profit of Rs.96.2 crore on sales revenue of Rs.396 crore. On an annualised-basis, the earnings per share (EPS) works out to Rs.104.3. Most of its revenue came from Citalaprom, which contributed about 36 per cent to the nine months’ sales while anti-retroviral drugs contributed about 20 per cent.
In another significant development, the European generic companies, which use Matrix’s active pharmaceutical ingredients (API), won the patent related case against innovator – Lundbeck, Denmark. This was only the second instance in Denmark, where generic companies have won a case against innovator. It is likely to help the company in capturing the European markets.