Morepen Laboratories, a Rs. 600 crore plus pharma and healthcare major, has suffered setback during the fourth quarter ended March 2018 despite lower interest cost. Its consolidated net profit declined by 4 per cent to Rs. 6.75 crore from Rs. 7 crore in the similar period of last year. EBDITA improved by 24.per cent to Rs. 18.13 crore from Rs. 16.67 crore. Its net sales increased by 10.7 per cent to Rs. 169.31 crore from Rs. 153.01 crore due to higher sales from home diagnostics, formulations and OTC businesses. Its domestic sales increased by 52 per cent to Rs. 122 crore. However, export sales declined by 35 per cent to Rs. 47 crore.  APIs contributed around 60 per cent to the company's total turnover in fourth quarter. Sales from montelukast sodium increased by 38 per cent to Rs. 28.33 crore

Morepen's consolidated net sales for the full year ended March 2018 increased only by 1.9 per cent to Rs. 606.51 crore from Rs. 595.17 crore in the previous year and consolidated net profit moved up by 25.2 per cent to Rs. 29.59 crore from Rs. 23.63 crore. Its interest cost declined by 42.3 per cent to Rs. 4.36 crore from Rs. 7.56 crore and the company plans to become a zero debt company by June-July 2018.

Its domestic sales increased by 21.3 per cent to Rs. 414 crore and overall home diagnostic category grows by 34 per cent to Rs. 103 crore. Blood pressure monitor and blood glucose monitors registered highest growth of 75 per cent and 38 per cent respectively. It received approval for anti-asthma bulk drug montelukast sodium from US FDA. It entered into a tie-up with Vesale Pharma International of Belgium to strengthen its position in the Rs. 1,000 crore probiotics market in India.