Neuland Laboratories, a Rs.465 crore pharma major from Hyderabad, has suffered a setback during the first quarter ended June 2014 and its net sales as well as net profit declined. The net profit declined by 61.3 per cent to Rs.3.02 crore from Rs.7.81 core in the similar quarter of last year. Its net sales also moved down by 15.4 per cent to Rs.102.67 crore from Rs.121.32 crore. EPS came down heavily to Rs.3.95 from Rs.10.22 in the last period.
After the announcement of poor financial performance, Neuland scrip declined by over 8 per cent or Rs.29.25 on BSE to Rs.336. Scrip touched to yearly highest level at Rs.398 on July 7, 2014.
For the full year ended March 2014, the company registered net sales of Rs.466 crore and earned a net profit of Rs.26.67 crore with EPS of Rs.34.87. The company has presence in 90 countries and filed 500 DMFs worldwide with focus on API and custom manufacturing. Exports contribute 76 per cent to its revenues and balance is coming from domestic markets.