Morepen Laboratories sales revenue at Rs 383 crore

Chennai: Morepen Laboratories Ltd has reported a Net sales Revenue (Standalone) of Rs 383.30 crore in the half year ended 30 September 2019, registering a growth of 24.2 per cent as compared to the Net Sales Revenue of Rs 308.56 crore in the corresponding first half of the previous fiscal.

According to a press release, Total Revenue (Standalone) in first half stood at Rs. 392.44 crore (Rs. 313.06 crore) registering a jump of 25.4 per cent. EBIDTA was up by 31.8 per cent in H1’ FY 2019-20 at Rs. 37.44 crores (Rs. 28.40 crores) and Cash profit during the same period was up by around 32.4 per cent at Rs. 36.63 crores (Rs. 27.67 crores). The half yearly net profit has increased by a good 34 per cent despite a one-time hit of Rs. 5.15 crore taken by the company by writing off MAT credit entitlement in line with the new Taxation Laws (Amendment) Ordinance 2019 in Q2 FY 2019-20.

Chairman and managing director, Morepen Laboratories Ltd, Sushil Suri said, “All our focus is currently on the growth strategy for next five years. In line with this objective, the company is expanding its reach further into export markets and has also widened its offered portfolio.”

NT Bureau