Parabolic Drugs Q4 net profit up 30.73% at Rs 15.06 crore

MUMBAI: Parabolic Drugs today reported a 30.73 per cent jump in net profit to Rs 15.06 crore for the quarter ended March 31, 2011.

The company had reported a net profit of Rs 11.52 crore for the same period of FY'10, it said in a statement.

Net sales of the company amounted to Rs 191.11 crore during the January-March quarter, up 13.93 per cent from Rs 167.75 crore in the corresponding period of 2009-10, the statement added.

For the entire 2010-11 fiscal, the net profit of the company registered a growth of 53.10 per cent to Rs 52.36 crore, while its net sales were Rs 675.30 crore, up 20.80 per cent.

During the January-March quarter, the company was granted a "certificate of suitability" for its key molecule, Cefixime, in the European Union, the statement further said.

Commenting on the financial results, Parabolic Drugs Director Vineet Gupta said, "FY'11 was an inflection point for the company. We not only expanded our manufacturing capacities but also strengthened our presence in the new markets with an expanded product basket.