Claris Lifesciences Q3 PAT up 32% at Rs 20 cr

Net revenues at Rs 162.1 crore, up 7% over previous quarter

Ahmedabad-based Claris Lifesciences posted a 32 per cent rise in net profit for the quarter ended September 30 to Rs 20.4 crore as compared to Rs 15.5 crore in the corresponding quarter last fiscal.

Net revenues for the third quarter, stood at Rs 162.1 crore as compared to Rs 151.1 crore in the previous quarter, a growth of 7 per cent. The revenues of Claris Lifesciences includes the pass through sales of Claris Otsuka Private Ltd (a JV between Claris and Otsuka Pharma Inc, Japan and Mitsui & Co. Ltd., Japan, for Claris' Infusion Business in India and emerging markets), for the international markets.

As on October 31, after the receipt of the Board and Shareholder's approval the Speciality Injectable Business has been transferred to a wholly owned subsidiary; Claris Injectables Limited (CIL). Claris Lifesciences is now a holding company having three segments, 100 per cent ownership of CIL, 20 per cent stake in Claris Otsuka and investments and cash management of Claris Lifesciences.

The Board of Directors of the Company have duly approved to change the financial year of the company from January - December (calendar year) to April - March (financial year as per Indian GAAP). Accordingly, the company's current financial year shall be for a period of fifteen month ie. from January 01, 2014 to March 31, 2015