Claris Lifesciences, a Rs. 725 crore plus pharma major, has registered lower net profit during the second quarter ended June 2012 with negligible growth in sales and higher interest burden. Its net profit declined by 14.3 per cent to Rs. 32.33 crore from Rs. 37.72 crore in the corresponding period of last year. The company's net sales improved only by 1.7 per cent to Rs. 194.88 crore from Rs. 191.67 crore. Its earnings per share moved down to Rs. 5.07 from Rs. 5.91 in the last period.
Claris' EBDITA increased by 13.7 per cent to Rs. 78.36 from Rs. 68.94 crore. Its interest cost grew 49 per cent to Rs. 16.80 crore from Rs. 11.29 crore. Its other income declined to Rs. 0.63 crore from Rs. 4.58 crore.
The company commenced sales in 5 new countries taking the total presence of the company to 96 countries. It has commercialized 39 marketing authorization across 23 countries during the quarter which includes ciprofloxacin in Canada, propofol (Spiva) in Netherlands, metronidazole in South Korea. It received three follow-up queries from the FDA and the same have been replied to well within the stipulated time. The company is awaiting response from the FDA.
For the first half ended, its net profit declined by 6.3 per cent to Rs. 54.01 crore from Rs. 57.61 crore and its net sales improved only by 7.9 per cent to Rs. 376.55 crore from Rs. 349.06 crore.