Venus Remedies recorded strong financial performance during the third quarter ended December 2006 with net profit growth of 48 per cent to Rs 7.52 crore as against Rs 5.08 crore in the corresponding period of last year. Its net sales also moved up by 45.5 per cent to Rs 37.95 crore from Rs 26.08 crore in the last period. The earning per share worked out to Rs 8.95 for the quarter as against Rs 6.04.
The company got the INVIMA GMP certification by Columbian Drug Authorities for it's newly build cephalosporin, Oncology and carbapenem facilities of Baddi. This accreditation has given Venus access to market in 10 South American countries for exports. The company launched Mucomelf-Forte, a new combination formulation of Cefexime with N Acelylcysteline for the first time in India by its Bio-Card Sales division.
The company filed 33 dossiers for product registration in nine countries around the globe. Its PSD Sales Division took the initiative to launch the Neo-Natal, Paediatric dose of injection meropenem i.e. Ronem 125 mg for the first time globally.
For the first nine months period of 2006-07, its net profit has taken a quantum jump of 92.3 per cent and touched to Rs 20.77 crore from Rs 10.80 crore in previous period of last year. The net sales crossed the Rs 100 crore-mark for the first time, with a growth of 70.7 per cent to Rs 105.94 crore from Rs 62.06 crore.