AstraZeneca Pharma India, a Rs. 390 crore MNC from Bengaluru, has improved its working during the third quarter ended December 2013. It earned a net profit of Rs. 1.52 crore as against a net loss of Rs. 17.69 crore in the corresponding period of last year. Its net sales improved by 13.3 per cent to Rs. 118.96 crore from Rs. 104.91 crore. Its EBDITA improved to Rs. 4.55 crore from Rs. 2.76 crore, a growth of 64.9 per cent. EPS worked out to Rs. 0.61 as against negative Rs. 7.08 in the last period.
After the announcement of financial results for the quarter ended December 2013, AstraZeneca scrip moved up strongly by over Rs. 126 to Rs. 865 today in the afternoon session on BSE. Its promoter are holding 75 per cent equity stake.
The company has entered into a subvention agreement during May 2013 with AstraZeneca Pharmaceuticals AB Sweden (Promoter Company) wherein to assist the company in its efforts to establish its presence in the Indian market, the promoter company has voluntarily decided to provide non refundable financial grant. Accordingly, the company as received Rs. 21.71 crore during the quarter ended December 2013 and Rs. 64.92 crore during nine months ended December 2013 as financial grant.
For the nine months ended December 2013, AstraZeneca registered net sales growth of 21.3 per cent to Rs. 359.60 crore from Rs. 296.40 crore in the similar period of last year. It posted net profit of Rs. 2.06 crore as against a net loss of Rs. 70.96 crore. The sales of healthcare improved by 22.3 per cent to Rs. 330.81 crore and that of other products improved by 16 per cent to Rs. 29.01 crore.