AstraZeneca Pharma India has reduced its net loss during the fourth quarter ended March 2013 to Rs.18.58 crore from Rs.33.00 crore in the corresponding period of last year. Its net sales improved only by 3.5 per cent to Rs.94.85 crore from Rs.91.69 crore. The EPS remained negative at R. 7.43 as compared to Rs.13.20 in the last period.
For the full year ended March 2013, AstraZeneca's net sales declined by 26.6 per cent to Rs.390.42 crore from Rs.531.52 crore in the previous year. It incurred a heavy net loss of Rs.89.53 crore as against a net profit of Rs.19.76 crore. As against the equity capital of Rs.5 crore its reserves declined to Rs.94.75 crore from Rs.184.29 crore in the previous year.
Meanwhile, Luigi Felice La Corte, director, resigned with effect from April 15, 2013 and the company appointed Justin Ooi as director. The board of directors has also approved the appointment of Sanjay Murdeshwar as an additional director and also as managing director of the company for a period of 3 years with effect from May 02, 2013. The appointment of Sanjay Murdeshwar as managing director is subject to the approval of the Central Government under Part I of Schedule XIII to the Companies Act, 1956.