Strides Arcolab has notched up impressive growth in bottom line during the second quarter ended June 2007. Its consolidated net profit went up sharply by 111 per cent to Rs 11.58 crore from Rs 5.50 crore in the corresponding quarter of last year. The company's net consolidated net sales increased by 7.5 per cent. With strong growth in profitability, the earning per share moved up to Rs 3 from Rs 1.33 in the last period.

For the first half of 2007, Strides' consolidated net sales reached at Rs 341.42 crore and it earned a net profit of Rs 17.66 crore.

Commenting on the results, Arun Kumar, vice chairman and managing director, said, "Our second quarter is in line with our overall guidelines and well ahead of our second quarter of the previous year. We are particularly pleased that our operating performance has stabilized with consistent EBITDA margins in our key business".

He added, "All key business divisions' performance are in line while the us operations continue to disappoint with poor capacity utilisation. A Special Committee formed by the Board will review recommendations on course corrections and other options with regard to the US operations and an announcement will be made in the next 90 days. In the sterile pharmaceuticals business the approval of is first injectable ANDA for Ketorolac injection was a significant milestone in our plan to aggressively became a significant sterile player in the US markets through its joint ventures and supply agreements with customers."

The company received two more NDA approvals from US FDA. This takes the total NDA/ANDA approvals received to 9 under the PEPFAR programme. Its total pending files of ANDA reached to 21. The company completed the acquisition of Grandix Pharmaceuticals, which will enable the company's domestic foray for a branded pharmaceutical strategy. Stride raised FCCBs of US $ 100 million for its expansion strategies.

The company's standalone net sales amounted to Rs 211.29 crore during the first half ended June 2007 as against Rs 208.06 crore, representing a marginal growth of 1.5 per cent. The standalone net profit improved by 25.6 per cent to Rs 17.94 crore from Rs 14.28 crore.