Surya Pharmaceutical, a Chandigarh based Rs.1,600 crore pharma major, has posted net profit growth of only 3.9 per cent during the first quarter ended June 2011 to Rs.24.26 crore from Rs.23.35 crore in the similar period of last year. The growth in profit is restricted by significant higher interest. Its net sales went up by 13.4 per cent to Rs.405.55 crore from Rs.357.76 crore. After considering the rise in share capital, its earnings per share worked out to Rs.1.20 as against Rs.1.61 crore in the last period.
The board of directors has recommended equity dividend of 15 per cent for the year 2010-11.
Its EBDITA moved up 24.2 per cent to Rs.70.05 crore from Rs.56.39 crore in the corresponding period of last year. However, its interest cost went up sharply by 61.2 per cent to Rs.31.80 crore from Rs.19.73 crore. The company launch Suryacare Division for OTC Healthcare and FMCG products, in all, 5 domestic and 4 international brands, 36 products and 135 Skus have been launched. Its subsidiary Surya healthcare Ltd has 202 pharmacy retail stores under the brand names 'Viva' and 'Medimart' in 25 cities.