Venus Remedies Q4 net up 15 per cent at Rs 15.56 crore

NEW DELHI: Drug firm Venus Remedies today reported 14.91 per cent increase in net profit to Rs 15.56 crore for the quarter ended March 31.

The company had posted a net profit of Rs 13.54 crore for the January-March quarter of 2010-11.

Total income of the company stood at Rs 114.89 crore during the quarter as against Rs 96.56 crore for the corresponding period previous fiscal, Venus Remedies said in a statement.

For the year ended March, 2012, the company posted a net profit of Rs 51.26 crore as against Rs 47.47 crore in 2010-11.

Net sales of the company during the year stood at Rs 404.92 crore against Rs 357.27 crore in the previous fiscal.

The company has entered Japan market with patent approval for its novel research product 'Vancoplus'.

The company has received patent approvals for the Vancoplus from countries as USA, Japan, South Africa, New Zealand, Australia and Ukraine and is expecting approvals from Canada, Europe, Brazil, Mexico and India.

Shares of Venus Remedies today closed at Rs 158 on the BSE, down 2.65 per cent from previous close.