Matrix net dips 23.5% to Rs 25.5 cr
BS 200 SCORECARD
| The company's sales turnover for the quarter, however, recorded a growth of 21.68 per cent to Rs 175.46 crore (Rs 144.19 crore). The profit before tax for the quarter was Rs 35.54 crore (Rs 40.41 crore). |
| N Prasad, chairman and chief executive officer said: "The fall in the net profit during the quarter was primarily owing to the delay in the launch of some products in the regulatory markets and a more than anticipated fall in the prices of the anti-depressant drug, Citalopram." |
| "The company anticipated a fall of around 30 per cent in generic Citalopram prices but in reality the price fall was almost 50 per cent," he added. |
| Matrix Laboratories, Prasad said, was confident of reaching Rs 1,000 crore mark by the end of 2007 as envisaged earlier from Rs 557 crore during last fiscal. |