Lincoln Pharma net profit up by 88.76%, plans USFDA plant

AHMEDABAD: Ahmedabad based drug maker, Lincoln Pharmaceuticals Ltd’s net profit surged by 88.76% for the year ended on March 2013. The company also recommended 6% dividend. Plans to set up USFDA approved plant to cater domestic and regulatory markets

Lincoln Pharma total consolidate revenue of Rs.196.91 crore against Rs.189.85 crore in the previous year. The consolidated net profit after tax (PAT) of the company rose by 88.76% to Rs 9.66 crore in comparison to Rs 5.11 crore last year. According to the company, it has also reported a growth in consolidated E.P.S. by 88.53 % to Rs 5.92 compared to Rs 3.14 last year. As per the Company’s statement, Lincoln increases its profitability in spite of the pressure of inflation, increase in input cost and financial cost in general economic situation of the country.

Lincoln also recommended the payment of dividend of Rs.0.60 (@ 6%) per equity shares of face value.10/- each for the year 2012-13 subject to approval by shareholders at AGM. The Company has consider the various aspect for new capital investments in R & D unit, propose USFDA plant to cater domestic as well as for regulatory markets.

Lincoln Pharma has its own manufacturing facilities, covering all the major dosage forms, like tablets, capsules, injectables, syrups, ointments, etc. Its present manufacturing activities are located near Ahmedabad. On Tuesday, Lincoln’s stock price closed at Rs 26.95, down by 1.82% on Bombay Stock Exchange.