Dabur Pharma net up; in talks for acquisitions

NEW DELHI: Dabur Pharma’s net profit has increased to Rs 2.7 crore for the quarter ended March 31, 2007 from Rs 20.6 lakh in the corresponding period of the previous year.

The company’s turnover grew by 12.4% from Rs 53 crore to Rs 59.6 crore. Dabur Pharma CEO Ajay K Vij said, “A combination of product mix, better margin and expenses control in manufacturing has resulted in the growth. Also, through the acquisition of Thai business and the divestment of our non-oncology portfolio to Alembic, the company is poised for higher growth.”

The company is looking at growing through the M&A route. Says Dabur Pharma chairman, Anand C Burman: “As part of its inorganic growth plans, the company is in talks with various companies in 3-4 regions.”

The company is upbeat about its US and Europe operations paying rich dividends in the next few quarters. The company has received abbreviated new drug application (ANDA) approval from USFDA for two drugs — Paclitaxel and Carboplatin — with a collective market size of about $120-140 million, Mr Burman added. For the financial year 2006-07, the company’s profit grew by 36% to 25.3 crore from 18.5 crore last year while the turnover rose by 19% to Rs 322 crore in FY07 from Rs 270 crore in FY06.Bhagyanagar FY07 net profit rises to Rs 70 cr