Date:26/10/2005 URL: http://www.thehindubusinessline.com/2005/10/26/stories/2005102603620303.htm

Back Elder Pharmaceuticals posts 19% rise in profits

Our Bureau

MUMBAI: ELDER Pharmaceuticals Ltd has posted a 19 per cent growth in its net profit for the second quarter ended September 30, 2005.

The company clocked a net profit of Rs 7.27 crore for the three months ended September 2005, as compared to Rs 6.11 crore for the same period in the previous year.

The income from operations has increased to Rs 92.32 crore for the second quarter 2005-06, as compared to Rs 80.56 crore during the corresponding quarter in the previous year, a growth of about 15 per cent.

During the quarter under review, the company launched in India Artrodar, an anti-arthritis product from Switzerland's TRB Chemedica.

In October this year, the company's new US FDA compliant formulations plant at Selaqui (Uttaranchal) has also commenced commercial production, a note from the company said.