Chennai: Morepen Laboratories Ltd., a leading API player in regulated markets, has reported a sharp upsurge of 153 per cent in its net profit (consolidated) at Rs. 19.37 crore in the first quarter of FY 2020-21 ended 30 June, 2020.
According to a press note, net Revenue (consolidated) during the quarter rose by 27 per cent at Rs. 258.97 crore. The company’s net profit was Rs. 7.66 crore on a net revenue of Rs. 203.26 crore in the corresponding quarter of previous fiscal.
EBIDTA for Q1’FY2020-21 rose by 42 per cent at Rs. 27.90 crore and cash profit by 44 per cent at Rs. 27.61 crore.
Sushil Suri, chairman and managing director, Morepen Laboratories, said, “API business of the company is doing exceedingly well and is gaining greater traction in the international markets.”