Surya Pharmaceutical, a Chandigarh based leading domestic manufacturer of APIs, has recorded small growth in the net profit during the third quarter ended December 2006. Its net profit increased only by 3.8 per cent to Rs 6.96 crore from Rs 6.77 crore in the corresponding period of last year. The company's net sales increased by 32.5 per cent to Rs 81.04 crore from Rs 61.18 crore. The company's equity capital increased to Rs 14.47 crore from Rs 11.07 crore. The EPs after considering the rise in equity capital, worked out to Rs 4.81 as compared to Rs 6.11 in the last period.
For the first nine months ended December 2006, the company's net profit moved up by 6.2 per cent to Rs 18.96 crore from Rs 17.85 crore in the similar period of last year. Its net sales improved by 14.1 per cent to Rs 204.90 crore from Rs 179.53 crore. The total expenditure went up to Rs 165.47 crore from Rs 143.46 crore.
The company is now setting up Greenfield plant at Jammu to manufacture oral and sterile range of cephalosporins and formulations and an unit to manufacture non-antibiotic bulk drugs and formulations. This plant is expected to go on stream soon.