Ind-Swift Laboratories, a Rs.1,000 crore pharma company from Chandigarh, has posted small growth in net profit during the second quarter ended September 2011 on account of significant higher interest burden. Its consolidated net profit increased nominally by 2.6 per cent to Rs.22.31 crore from Rs.21.74 crore in the similar period of last year. However, its net sales has taken quantum jump of almost 64 per cent to Rs.353.56 crore from Rs.215.79 crore. Its EBDITA also went up sharply by 38.8 per cent to Rs.58.78 crore from Rs.42.36 crore in the last period. Interest burden grew sharply by 70 per cent to Rs.23.01 crore from Rs.13.55 crore.


During the quarter under review, it raised a sum of Rs.12 crore from issue of 19.39 lakh equity shares upon conversion of zero coupon convertible warrants. The funds raised were utilised for Derassi, Jammu and R&D Mohali facility expansion including capital advances and augmentation of NWC.


The company's net sales for the first half ended September 2011 increased by 49.7 per cent to Rs.620.26 crore from Rs.414.41 crore in the corresponding period of last year. Its EBDITA also improved by 35.6 per cent to Rs.112.02 crore from Rs.82.61 crore and net profit by 8.3 per cent to Rs.39.64 crore from Rs.36.60 crore.