Strides Arcolab's standalone net sales increased by 27.8 per cent to Rs 88.72 crore during the quarter ended September 2005 from Rs 69.18 crore in the corresponding period of last year. Its standalone net profit moved up smartly by 92.3 per cent to Rs 14.67 crore from Rs 7.63 crore in the last period. Its earning per share worked out to Rs 3.97 as against Rs 2.26. Growth in income both from supplies and R&D from the Regulated Markets continues to be the key revenue and profit driver for the company. Significant growth in Latin America and strengthening of the currency and a better product mix has contributed to increase profits.
The company's standalone net sales for the nine months period touched to Rs 237.14 crore as against Rs 187.55 crore and it notched a net profit of Rs 30.83 crore as compared to Rs 22.17 crore in the nine months period of last year.
Sales from dosage forms from India continue to be affected in Q3 due to delay in start up post validation of its key sterile facility. The plant is since been fully commissioned and is operational.
The consolidated net sales for the quarter ended September 2005 increased by 36.8 per cent to Rs 136.59 crore and it earned a consolidated net profit of Rs 17.17 crore. Similarly, net sales and net profit for the nine months touched to Rs 364.50 crore and Rs 42.36 crore respectively.
Strides has a major presence in various developing countries such as Africa, Latin America and Asia as well as in developed markets such as the US, Canada and part of Europe. Strides is one of the largest Indian suppliers of institutionally funded aid projects and is an approved supplier to the World Bank, the African Development Bank and UNICEF, amongst others.