Financial Daily
from THE HINDU group of publications
Tuesday, October 30, 2001
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Financial Daily from THE HINDU group of publications Tuesday, October 30, 2001 |
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Morepen Labs net up 15 pc
NEW DELHI: Morepen Laboratories Ltd has clocked a gross revenue of Rs 119.17 crore for the quarter ended September 30, 2001. This was up 13 per cent from the gross sales of Rs 105.16 crore registered in the corresponding period in the previous year.
Net profit in this period grew by 15 per cent to Rs 23.81 crore (Rs 20.7 crore).
The company has also appointed HSBC to identify possible strategic partners and the bank has circulated information to potential generic companies, according to a company communique.
Morepen's branded formulation business has grown by 62 per cent for the quarter. Anti-emetic product Dom DT and antibiotic Saltum have registered growth of 110 per cent and 121 per cent respectively during the quarter. -- Our Bureau
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