Elder Pharmaceuticals has posted higher net profit of Rs 14.18 crore during the quarter ended September 2006 as against Rs 7.27 crore in the corresponding period of last year, registering a hefty rise of 95 per cent. Its income from operations increased by 23 per cent to Rs 113.67 crore from Rs 92.32 crore. On an equity capital of Rs 17.97 crore the EPS on a non-annualized basis worked out to Rs 7.89.
Elder pharma is implementing major growth plans in the form of setting up of new plants at Uttaranchal and Himachal, undertaking strategic tie-ups with international majors to bring in their world class, researched products into India, exploring newer exports markets etc. It is focusing more and more on pain management, diabetology and cardiology.
For the first half ended September 2006, its income reached at Rs 222.07 crore from Rs 182.95 crore. The company earned a net profit of Rs 27.30 crore during the first half ended September 2006 from Rs 14.29 crore in the corresponding period of last year.