Strides Arcolab, a Rs.2,500 crore plus Bengaluru based pharma major, has posted consolidated net profit growth of 13 per cent during the third quarter ended September 2012 to Rs.52.49 crore from Rs.46.46 crore in the corresponding period of last year. The consolidated net sales, however, declined by 24.8 per cent to Rs.577.33 crore from Rs.767.37 crore. The figures are not strictly comparable due to divestment of Ascent Australasian business. Excluding divested Ascent Australasian business, its revenues improved by 12 per cent to Rs.601 crore from Rs.535 crore.

Arun Kumar, vice chairman and Group CEO, said, “Our performance this quarter reflects the momentum we have carried through the year in both Agila and pharma divisions. Both divisions continue to deliver on all key operating indicators including regulatory filings, approvals and product launches. We are particularly pleased with our operating leverage that has been consistently achieved.”

The company received US FDA approval for its Polish Sterile facility and expects to launch new product in the current quarter. With this approval, its all 9 sterile sites were approved by US FDA approved. The company commercialized 8 new ANDAs including day one launch of Oxaliplatin. It filed 28 sterile ANDAs during the third quarter of 2012 and its cumulative ANDA filings reached at 232. Its Canadian joint venture with Jamp Pharma became operational and it launched two products in Canada.

The company's division Agila Specialties registered strong growth of 28.4 per cent during the third quarter to Rs.371 crore from Rs.289 crore in the similar period of last year. Its licensing revenue reached at Rs.99 crore. EBDITA performance in Brazil impacted by ANVISA strike.

For the first nine months ended September 2012, Strides net profit jumped to Rs.785 crore due to profit on sale of investments of Rs.726.26 crore from divestment in Ascent Pharmaceuticals Ltd during the quarter ended March 2012. Its foreign exchange loss amounted to Rs.74.88 crore and it paid income tax of Rs.87.23 crore. The net profit for the first nine months ended September 2011 worked out to Rs.156.06 crore. Its EBDITA moved up by 10.9 per cent to Rs.446.19 crore from Rs.402.42 crore in the corresponding period of last year. However, the consolidated net sales for first nine months declined by 10.1 per cent to Rs.1,674 crore from Rs.1,829 crore due to divestment in Ascent Pharma. Its division Agila Specialties recorded revenues of Rs.1000 crore during the period under review and the division contribute 60 per cent to Group's revenue.