Dabur Pharma, a Rs 250 crore Delhi based leading oncology player, has suffered setback during the first quarter ended June 2008 mainly due to significant higher extra ordinary income during the last period. Its net profit, after extra-ordinary items, declined sharply by 79.2 per cent to Rs 27.74 crore from Rs 133.41 crore in the similar period of last year. However, its net profit before extra-ordinary items moved up by 53.9 per cent to Rs 12.39 crore from Rs 8.05 crore.
Its net sales increased to Rs 78.91 crore from Rs 69.64 crore, a growth of 13.3 per cent. The formulation sales increased by 37.5 per cent to Rs 65.46 crore from Rs 47.60 crore and that of bulk drugs declined to Rs 20.21 crore from Rs 31.24 crore.
The company provided extra-ordinary items, pertaining to profit on sales of buildings, of Rs 15.36 crore during the quarter ended June 2008 as compared to Rs 125.36 crore in the last period.
Commenting on the performance Kumar Vij, CEO, said, "The company is continuously gaining strength as a major oncology player in various markets on the basis of a strong marketing and robust supply network. This is expected to get significantly enhanced once the integration with Fresenius is complete. We all can expect exciting time ahead."
Dabur Pharma's second formulation unit at Baddi has become ready for commencement of commercial production during the quarter. Consequent, capitalisation of Rs 129.50 crore from capital work in progress to fixed assets led to transfer of capital employed by such amount from unallocated to formulation segment during the quarter.
The majority stake in the company has recently been acquired by the leading German healthcare company Fresenius Kabi and the integration is expected to be completed soon.