Aventis Pharma, a major pharma MNC with 51 per cent holding by Aventis SA, has achieved better performance during the first quarter ended March 2004 on account of reduction in input costs, better product mix and improved efficiencies in manufacturing. Its net sales increased by 16 per cent to Rs 167.80 crore and its net profit after tax and exceptional items went up sharply by 68 per cent to Rs 32 crore from Rs 19 crore. Its earnings per share for the quarter worked out to Rs 13.88.
The company has provided Rs 6.80 crore for exceptional income during the quarter under review. This was on account of profit arising out of an agreement granting development rights in respect of a portion of the company’s land.
The domestic net sales grew by 12 per cent to Rs 125.40 crore in the first quarter from Rs 111.50 crore in the corresponding period of last year. Its strategic brands continued to show strong performance and all strategic brands put together contributed 33 per cent of domestic sales. Few brands like Amaryl, Clexane Cardace and Targocid achieved growth of 20 per cent, 38 per cent, 16 per cent and 24 per cent respectively. Its other major brands maintained their strong leadership positions in their respective segments, with good growth achieved in Combiflam (18 per cent), Lasix (15 per cent) and Rabipur (14 per cent).
The company’s exports improved by 28 per cent to Rs 42.40 crore during the first quarter ended March 2004 from Rs 33.22 crore in the corresponding period of last year.