Venus Remedies has achieved impressive performance during the first quarter ended June 2007 and its net profit has taken a quantum jump of 41.3 per cent to Rs 8.74 crore from Rs 6.18 crore in the corresponding period of last year. The company's net sales also moved up by 36.9 per cent to Rs 43.62 crore from Rs 31.86 crore. The earning per share worked out to Rs 10.37 as against Rs 7.35 in the last period.
During the quarter, the company commence commercial operations of the phase III of the Baddi project, consisting of two dedicated plants, one for liquid injectable filing in glass vials and second for injections in ampoule form. It has successfully completed the filing of patent applications in 49 countries around the globe, including the US, EU, Brazil, Japan, CIS and Middle East, for the national phase of its first PCT application for its research product, - Non-aqueous, Liquid Parenteral Formulation.
Venus received Uganda GMP certification for its plant. It has executed export orders to Sri Lanka, Ukraine and Germany. The domestic operations were further extended to four south Indian territories of Kerala, Tamil Nadu, Andhra Pradesh and Pondichery. The own field force of more than 300 personnel is now fast penetrating markets across 18 prominent states of India.
The company has recorded net sales of Rs 141.35 crore for the full year ended March 2007 and earned a net profit of Rs 28.36 crore.