Saturday, Nov 18 2017 | Time 08:35 Hrs(IST)
image
  • Argentina intensifies search for missing submarine with 44 crew
  • Can carbon-sucking technologies hold back climate change?
  • Strong earthquake rattles Tibet but no damage reported
  • Srinagar-Leh highway remains closed, Kashmir highway open
  • Rail service suspended in Kashmir for security reasons
  • Earthquake of magnitude 6'3 strikes southern China -USGS
  • Russia blocks bid to briefly extend Syria chemical weapons inquiry
  • Saudi Arabia recalls its ambassador to Germany for consultation
  • Lebanon's al-Hariri on twitter: "I am on the way to the airport"
  • Murray splits with coach Lendl for second time
  • Search continues for missing Argentine submarine with 44 crew members
  • Trump adds five names to list of possible Supreme Court nominees
  • N'Korea says China envoy stressed stance to 'develop traditional relations' -KCNA
  • Zimbabwe's Mugabe digs in heels as ruling party moves to depose him
  • U'S' urges passage of Japan proposal to extend probe of chemical weapons attacks in Syria
Business Economy Share

Morepen Lab’s net profit rises by 179 pc

New Delhi, May 1 (UNI) Morepen Laboratories Limited has reported a 179 per cent rise in its net profit at Rs 7.73-crore and 17.4 per cent rise in its net sales revenue at Rs 141-crore in the fourth quarter (Q4) of fiscal 2016-17.

The net profit and the net sales revenue stood at Rs 2.77-crore and Rs 119.77-crore in the corresponding quarter of the fiscal 2015-16.

Announcing the results, Sushil Suri, Chairman and Managing Director, Morepen Laboratories, said that the company’s expanding global reach assisted in achieving a higher topline in Q4 FY 2016-17. Export sales registered a growth of 29 per cent in Q4 at Rs 73-crore. Sales from domestic operations, however, registered a marginal growth of 7 per cent at Rs 68-crore.

“The bulk drugs (API) segment continued to excel in the quarter by contributing 67 per cent to the company’s total turnover. Morepen Lab’s blockbuster bulk drug Loratadine has once again emerged as a growth accelerator for the company in Q4 FY 2016-17,” he said.

According to Mr Suri, Sales from Loratadine alone increased by 54 per cent in Q4 at Rs 34.35-crore. Total bulk drugs sales in Q4 increased by 21 per cent at Rs 94.35-crore.

OTC (Over the Counter) products and Formulations also recorded good sales numbers for the quarter under consideration. Total sales from OTC products, comprising Burnol & Lemolate, went up by 11 per cent in Q4 FY 2016-17.

“Consistent focus on backward integration, research and process innovation has helped company garner better foothold in the market and company’s vision to invest in the new markets is showing results on the expected lines,” he said.

During the entire financial year 2016-17, Morepen Lab’s net profit grew by 46 per cent at Rs 23.04-crore as against Rs 15.78-crore net profit registered in the previous fiscal. Net sales revenue in FY 2016-17 grew by 21 per cent at Rs 529.18-crore.

The total API business registered a growth of 23 per cent at Rs 340.13-crore, Dr. Morepen Home Diagnostics business registered a growth of 23 per cent at Rs 77.76-crore, formulations business registered a growth of 10 per cent at Rs 26.59-crore and Product Contract Manufacturing and Brand Sharing business grew by 16 per cent at Rs 84.69-crore.
UNI ADP RSA SNU 1539
Top News
French Foreign Affairs Minister calls on PM

French Foreign Affairs Minister calls on PM

New Delhi, Nov 17 (UNI) Prime Minister Narendra Modi said on Friday the significance of India-France Strategic Partnership is not limited to the bilateral context, but 'acts as a force for peace and stability in the regional and global context as well.

see more..
Defence Minister rubbishes Rahul’s allegations on Rafale deal

Defence Minister rubbishes Rahul’s allegations on Rafale deal

New Delhi, Nov 17 (UNI) Defence Minister Nirmala Sitharaman on Friday rubbished Congress party’s allegations of bypassing the procedures in procuring 36 Rafale aircrafts from France, saying that the deal for the planes was done in a transparent manner and had to be struck quickly keeping in mind the defence preparedness of the Indian Air Force (IAF).

see more..
Diplomats urge govt to address Delhi air pollution problem

Diplomats urge govt to address Delhi air pollution problem

New Delhi, Nov 17 (UNI) The killing Delhi air pollution has evoked serious concerns among the diplomatic community which was conveyed to the External Affairs Ministry by Dean of Diplomatic Corps Frank Hans Dannenberg Castellanos on Friday.

see more..
Gulmarg, upper reaches receive fresh snowfall, rain in plains

Gulmarg, upper reaches receive fresh snowfall, rain in plains

Srinagar, Nov 17 (UNI) World famous ski resort of Gulmarg and other higher reaches received fresh snowfall in the Kashmir valley, where plains, including summer capital, Srinagar, experienced rain resulting in further chill on Friday.

see more..
Jitendra Singh pitches for police modernisation

Jitendra Singh pitches for police modernisation

New Delhi, Nov17 (UNI) Union Minister of State for PMO Jitendra Singh called for new and evolved technology should be utilised to tackle the insurgency and terrorism effectively on Friday.

see more..
Bill Gates visits Vizag amid tight security

Bill Gates visits Vizag amid tight security

Visakhapatnam, Nov 17 (UNI) Microsoft co-founder Bill Gates on Friday visited the agriculture hackathon of Agri-Tech summit expo in the Visakhapatnam Smart City.

see more..
IAF Chief inaugurates SWAC annual Commanders’ Conference

IAF Chief inaugurates SWAC annual Commanders’ Conference

New Delhi, Nov 17 (UNI) In an effort to further exchange of views on operations, maintenance and administrative matters among the top brass, Air Force Chief ACM BS Dhanoa on Friday inaugurated the Annual Commanders’ Conference of South Western Air Command (SWAC) in Gandhinagar.

see more..
image