Shilpa Medicare, a Karnataka based Rs 165 crore plus pharma company, has announced strong financial performance during third quarter ended December 2009. The company earned a net profit of Rs 12.06 crore as against a net loss of Rs 1.75 crore in the corresponding period of last year. Its net sales went up sharply by 101.7 per cent to Rs 71.72 crore from Rs 35.39 crore. With smart improvement in profits, its earnings per share worked out to Rs 5.47 as compared to negative Rs 0.79 in the last period.

The sales of bulk drugs, intermediates, etc., improved by 104 per cent to Rs 71.28 crore from Rs 35.02 crore.

For the nine months period ended December 2009, Shilpa Medicare's net profit reached at Rs 33.07 crore as compared to a net loss of Rs 2.07 crore in the similar period of last year. Its net sales moved up to Rs 195.18 crore from RS 119.67 crore, a growth of 63.1 per cent. Its bulk drugs sales amounted to rs 193.02 crore during the first three quarters of 2009-10 as compared to Rs 117.62 crore.