Elder Pharmaceuticals net profit rises by 47%

Mumbai : Elder Pharmaceuticals Ltd (NSE? ELDERPHARM), an integrated pharmaceuticals company, has registered 47% growth in net sales for the second quarter ended Sep 2010 (Q2 FY2011).

As per the consolidated unaudited provisional results taken on record on November 12, 2010, the income from operations has gone up to Rs 210.65 Crore for Q2 FY2011 as compared to Rs. 174.95 Crore during the corresponding quarter in the previous year.

The consolidated operating profit (PBIDT) too has gone up to Rs 41.89 Crore for Q2 FY2011 reflecting a growth of 43% over the previous corresponding quarter?s figure of Rs 29.37 Crore. The consolidated Net Profit too has gone up to Rs 13.68 Crore (previous year?s quarter – Rs 9.30 Crore) ? a spurt of 47%. The consolidated EPS on a non ? annualized basis comes to Rs 7.20.

For the half year ended Sept 2010, the consolidated sales turnover is Rs 404.95 Cr (previous half year ? Rs 344.92 Cr) up by 17% and the net profit is Rs 30.36 Cr (previous half year ? Rs 18.90 Cr) up by 61%.

During the quarter under review, Elder raised funds to the tune of Rs 69.70 Crore through the Qualified Institutional Placement (QIP) route.

The company also hiked stake in its Bulgarian subsidiary ?Biomeda? to 92.2%.