Morepen Laboratories, a Rs.430 crore plus pharma major from New Delhi, has registered strong net profit growth of 118 per cent during the second quarter ended September 2016. Its net profit went up to Rs.7.03 crore from Rs.3.22 crore basically due to lower interest burden and nil tax provision. Its net sales increased by 26.5 per cent to Rs.137.76 crore from Rs.108.92 crore. With impressive profit growth, EPS moved up to Rs.0.16 from Rs.0.07 in the last period.

 Its top selling bulk drugs montelukast, atorvastatin and rosuvastatin registered a jump of 46 per cent, 33 per cent, and 203 per cent respectively in their sales revenues. Further, consumer health products promoted under Dr Morepen umbrella brand i.e. Home diagnostics, OTC products and formulations also recorded excellent sales numbers for the quarter. Exports increased by 26 per cent  to Rs.64.79 crore from Rs.51.50 and its domestic sales went up by 27 per cent to Rs.72.98 crore from Rs.57.42 crore. The API business continues to be the top contributor to the company's topline, accounting for around 65 per cent of the total turnover. Loratadine contributed Rs.30.44 core and montelukast registered contribution of Rs.25.48 crore.

Burnol and Lemolate sales went up by 95 per cent and 375 per cent respectively during second quarter. The sales of OTC products went up by 84 per cent.

Sushil Suri, chairman and managing director, said, “We are back on the growth trajectory with a renewed focus on high value APIs and self health brand Dr Morepen which has registered phenomenal growth across all the product segments.”

For the first half ended September 2016, Morepen's net sales increased by 22.2 per cent to Rs.254.49 crore from Rs.208.20 crore in the similar period of last year. Its net profit moved up by 92.7 per cent to Rs.11.04 crore from Rs.7.16 crore. Its API business grew up by 27 per cent to Rs.168.60 crore and Dr Morepen Home Diagnostics business by 30 per cent at Rs.40.03 crore. The company markets over 100 branded formulations under six major therapeutic segments in the domestic market. It has WHO GMP facilities for manufacturing of formulations.