AstraZeneca Pharma India has posted a net loss of Rs.13.41 crore during the third quarter ended December 2014 as against the net profit of Rs.1.52 crore in the similar period of last year. Its net sales also declined by 9.1 per cent to Rs.108.12 crore from Rs.118.88 crore. EPS went down to negative Rs.5.10 as against Rs.0.61 in the last period. Revenue from healthcare segment declined to Rs.107.17 crore from Rs.109.66 crore and that from other declined to Rs.1.03 crore from Rs.9.30 crore.
The company has an agreement with AstraZeneca AB, Sweden for global clinical trial studies to be undertaken in India. As per the terms of the agreement, the company charges the cost incurred on clinical trials plus a markup on the internal cost to AstraZeneca AB. As at the end of December 2014, it has six studies ongoing in India for which it has incurred external cost aggregating to Rs.104.31 lakh during the December quarter. Certain reversal of provisional cost has resulted in a net reversal in the other revenue for the quarter ended December 2014.
For the nine months ended December 2014, its net sales declined to Rs.348.25 crore from Rs.359.60 crore and it incurred heavy net loss of Rs.58.96 crore as against a net profit of Rs.2.06 crore. Its employees cost went up by 16.5 per cent to Rs.123.24 crore from Rs.105.76 crore.