Chennai: Morepen Laboratories Ltd., a leading API player in regulated markets, has reported a sharp rise of 566 per cent in its net profit after tax (consolidated) at Rs 27.17 crore in the second quarter ended 30 September, 2020.
According to a press note, net revenue (consolidated) during the quarter rose by 57 per cent at Rs 340.13 crore mainly on account of a consistent growth in sales of Bulk Drugs (APIs), Diagnostic Devices and OTC products during the quarter.
The company’s net profit was Rs 4.08 crore on a net revenue of Rs 216.24 crore in the corresponding quarter of previous fiscal.
Sushil Suri, chairman and managing director, Morepen Laboratories, said, “company is investing heavily to build a strong pipeline of products to be launched in three to four years.”