ndoco Remedies net jumps by 40% to Rs.22.41 cr in Q2

Indoco Remedies, a Rs.700 crore plus pharma major from Mumbai, has posted satisfactory performance during the second quarter ended September 2014 and its net profit moved up by 39.7 per cent to Rs.22.41 crore from Rs.16.04 crore in the corresponding period of last year. Its EBDITA also improved sharply by 73.9 per cent to Rs.49.19 crore from Rs.33.44 crore. The company's standalone net sales improved by 16.1 per cent to Rs.226.42 crore from Rs.195.05 crore. With higher profit, its EPS worked out to Rs.2.43 as compared to Rs.1.74 in the last period.

The company's domestic sales increased to Rs.144.69 crore from Rs.127.59 crore, a growth of 13.4 per cent and its international sales went up by 21.2 per cent to Rs.81.73 crore from Rs.67.46 crore. The company launched six new products in the domestic market. Indoco's European sales contributed 61.9 per cent and US sales 21.9 per cent to its international sales.